This report provides exclusive insights into the COVID-19 impact on the Virtual Power Plant Market. The detailed analysis provides information about the impact of the outbreak on the demand and supply conditions, trends and forecasts of the Virtual Power Plant Market. Moreover, the impact analysis covers the study of the COVID-19 on the supply chain of Virtual Power Plant Market. The sectoral impact shall provide insights into both short term and long term effects of the pandemic on the related and support industries.
A recent report published by
Infinium Global Research on the virtual power plant market provides an in-depth
analysis of segments and sub-segments in the global as well as regional virtual
power plant market. The study also highlights the impact of drivers,
restraints, and macro indicators on the global and regional virtual power plant
market over the short term as well as long term. The report is a comprehensive
presentation of trends, forecast and dollar values of the global virtual power
plant market. According to the report, the global virtual power plant market is
projected to grow at a CAGR of 26.3% over the forecast period of 2019-2025.
Energy utilities are developing
towards greater reliance on flexibility to respond to an increasing supply and
demand difference. Distributed energy generation becomes a major trend in many
countries. The fast upward saturation of Distributed Energy Resources (DER) and
the ongoing trend towards a more competitive electricity market requires new
technologies and policies to handle both emerging technical and economic
issues. In order to handle distributed generation and to intensify its
visibility within power markets, numerous researchers use the idea of a virtual
power plant (VPP). A virtual power plant has the objective of releasing
pressure on grids with the help of intelligent power distribution during peak
hours. Power traders can employ the live data produced for improving trades and
forecasts of renewable energies.
Increasing demand for renewable
energy in power generation the sector is the major growth factor of the virtual
power plant market. Furthermore, factors such as changes in the dynamic of
power grids from central to distributed and controlling costs and easy
accessibility of energy storage are also driving the growth of the market. The
growing demand for power through a reliable power source and the decreasing
costs of solar generation and energy storage is fueling the market growth.
However, health concerns over high-frequency human contact of electromagnetic
and radio waves hinder the potential of the market. Moreover, an emergent shift
towards electric vehicles and the development of smart grids are anticipated to
provide growth opportunities to the market players.
dominates the global virtual power plant market due to the growth in energy
demand from developing countries. North America is the second-largest market
for virtual power plant due to the rise in emphasis on the utilization of
renewable energy. The United States is projected to drive the market and
witness high demand for virtual power plant owing to the expanding capacity of
renewable power projects along with the development of a smart grid network
equipped with VPP technology in the country.
The report on the global virtual
power plant market covers segments such as technology, and end user. On the
basis of technology, the sub-markets include distribution generation, demand
response, and mixed asset. On the basis of end user, the sub-markets include
commercial, industrial, and residential.
The report provides profiles of the
companies in the market such as Siemens AG, ABB Ltd., Schneider Electric SE,
EnerNOC, Inc., Comverge, Inc., Limejump, Flexitricity, AGL Energy, AutoGrid
Systems, Inc., and Other Companies.
The report provides deep insights
into the demand forecasts, market trends, and micro and macro indicators. In
addition, this report provides insights into the factors that are driving and
restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis
given in the report brings an insight into the investment areas that existing
or new market players can consider. The report provides insights into the
market using analytical tools such as Porter's five forces analysis and DRO
analysis of the virtual power plant market. Moreover, the study highlights
current market trends and provides forecast from 2019-2025. We also have
highlighted future trends in the market that will affect the demand during the
forecast period. Moreover, the competitive analysis given in each regional
market brings an insight into the market share of the leading players.