Virtual Power Plant Industry - Regional Synopsis
On the basis of regional analysis, the virtual power plant market is segmented into five major regions, including North America, Europe, Asia Pacific, Latin America and the Middle East & Africa. Asia Pacific industry is poised to hold largest revenue share by 2037, ascribed to rapid industrialization and rising energy demand by major economies in the region. Moreover, North America is expected to be the second-largest market shareholder owing to the extensive use of VPP and increasing demand for hydro energy, wind energy and solar energy generation in the commercial & industrial sectors of the region. However, the Middle East & Africa region is assessed to demonstrate major growth prospects for the market, on account of the emergence of new renewable energy projects in countries such as Saudi Arabia, the U.A.E, and South Africa and increasing demand to effectively manage the distributed energy supplies in the region.
