Virtual Power Plant Market Size

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

Virtual Power Plant Market Size

Virtual Power Plant Market size was valued at USD 1.44 billion in 2023 and is set to reach USD 31.87 billion by the end of 2036, expanding at around 26.9% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of virtual power plant is assessed at USD 1.75 billion.

on account of the increasing demand for cheap and renewable energy sources among people around the world. In 2019, more than 7000 TWh of energy worldwide was generated by renewable sources. Along with these, ease of implementation and flexibility in trading associated with virtual power plants are other factors which are estimated to drive market growth in the coming years. Furthermore, as virtual power plants are considered to be more cost-effective and require minimum maintenance effort compared to the conventional power plants, the market is expected to witness ample expansion opportunities over the forecast period.


Virtual-Power-Plant-Market-Size
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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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