Virtual Power Plant Market Share

  • Report ID: 3033
  • Published Date: Sep 23, 2024
  • Report Format: PDF, PPT

Virtual Power Plant Market Share

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 expected to dominate majority revenue share by 2036, 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.

 

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Author Credits:  Dhruv Bhatia


  • Report ID: 3033
  • Published Date: Sep 23, 2024
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

Increasing demand for renewable energy and easy implementation of virtual power plant is estimated to drive market growth.

The market is anticipated to attain a noteworthy CAGR over the forecast period, i.e., 2021 – 2029.

Growing number of cyber security threats is estimated to hamper the market growth.

Middle East & Africa region is expected to offer more business growth opportunities on the back of emergence of renewable energy projects in the region.

The major players in the market are AutoGrid Systems, Inc., Cisco Systems, Inc., Cpower, Flexitricity Limited, Schneider Electric, and others.
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