Market by Technology, End-user, and Country Outlook | Forecast 2024-2032
Triton’s research report states that the Europe
virtual power plant market is expected to generate revenue at a CAGR of 23.91% over the forecast period 2024-2032.
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The
countries studied in this region include:
• United
Kingdom
• Germany
• France
• Italy
•
Spain
•
Nordic Countries
• Rest
of Europe
Within Europe, countries like Germany, the UK, and France together dominate
the market share. Over the past few years, there has been a notable rise in the
adoption of virtual power plants due to a shift towards decentralized power
generation models. Additionally, there is a pressing need to bring energy
efficiency within the electrical system while simultaneously lowering
electricity prices. These factors have fueled the demand for virtual power
plants across the region.
The United Kingdom (UK) holds the highest share in Europe. With the help of energy performance
initiatives, the country aims at reducing greenhouse gas emissions by 80% by
2050. In order to achieve this, virtual power plants are being utilized to
aggregate diverse distributed energy sources, including battery storage
systems, into a centralized platform to meet end-user electricity demand. As
renewable energy sources become a larger part of the energy mix, there is a
growing need for grid flexibility. This creates a demand for virtual power
plants.
Similarly,
France has a commitment to reduce energy
consumption by 20% by 2030 as part of the EU Energy Efficiency Directive. Thus,
the country seeks opportunities to expand combined heat and power (CHP)
capacity for large industrial facilities. With a focus on demand-side
management programs and decreasing electricity bills through conservation
measures, the virtual power plants market has a widening scope.
Distributed generation
system facilitates resources such as conventional sources, renewable
distributed generation, and combined heat and power systems are the sources of
power generation. This segment is referred to as power generation from
conventional and renewable fuel sources. The virtual power plant market
is segmented based on technology and end-user. The technology segment is categorized into distributed generation, demand response, and mixed assets.
The key companies in the virtual power plant market are Next Kraftwerke,
EnergyHub, ABB Ltd, Autogrid Systems Inc, Enel X, General Electric Company,
Generac Grid Services, Sunverge Energy Inc, Limejump, Siemens AG, Cisco Systems
Inc, and Bosch.
Next Kraftwerke is a virtual power plant
solution provider across Europe that uses a cloud-based SaaS tool to network
variable renewable energy as well as decentralized assets with more than 4000
MW of total capacity. The company provides energy solutions with advanced
analytics to balance the frequency fluctuations across the grid. It is
headquartered in Germany.
KEY DELIVERABLES OF THE REPORT:
●
Market CAGR during the forecasting years 2024-2032
●
Detailed data highlighting key insights, industry components, and
market strategies
●
Comprehensive information and estimation of the virtual power plant
market revenue growth in Europe and its influence on the parent market
●
In-depth study of forthcoming trends in consumer behavioral
patterns
●
A meticulous analysis of the competitive landscape and Porter’s
Five Forces
●
A wide-ranging study of factors that will challenge the Europe virtual power plant market’s
growth during the upcoming years
Want to get specific insights? Our team of analysts can customize this
report based on your preferences. Connect with us here.
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VIEW REPORT1. EUROPE
VIRTUAL POWER PLANT MARKET – SUMMARY
2. INDUSTRY
OUTLOOK
2.1. IMPACT
OF COVID-19 ON THE VIRTUAL POWER PLANT MARKET
2.2. PORTER’S
FIVE FORCES ANALYSIS
2.2.1. THREAT
OF NEW ENTRANTS
2.2.2. THREAT
OF SUBSTITUTES
2.2.3. BARGAINING
POWER OF SUPPLIERS
2.2.4. BARGAINING
POWER OF BUYERS
2.2.5. THREAT
OF COMPETITIVE RIVALRY
2.3. KEY
MARKET STRATEGIES
2.3.1. CONTRACTS
AND PARTNERSHIPS
2.3.2. BUSINESS
EXPANSIONS AND DIVESTITURES
2.3.3. ACQUISITIONS
2.4. MARKET
DRIVERS
2.4.1. GROWING
FOCUS ON RENEWABLE ENERGY GENERATION
2.4.2. INCREASING
PREVALENCE OF DECENTRALIZED POWER GENERATION
2.5. MARKET
CHALLENGES
2.5.1. EXTENSIVE
CAPITAL REQUIREMENT
2.5.2. LACKING
INFRASTRUCTURE AND ISSUES IN INCORPORATING TECHNOLOGY
2.6. ANALYST
PERSPECTIVE
3. EUROPE
VIRTUAL POWER PLANT MARKET - BY TECHNOLOGY
3.1. DEMAND
RESPONSE
3.2. DISTRIBUTED
GENERATION
3.3. MIXED
ASSETS
4. EUROPE
VIRTUAL POWER PLANT MARKET - BY END-USER
4.1. INDUSTRIAL
4.2. COMMERCIAL
4.3. RESIDENTIAL
5. EUROPE
VIRTUAL POWER PLANT MARKET – BY COUNTRY OUTLOOK
5.1. COUNTRY
ANALYSIS
5.1.1. UNITED
KINGDOM
5.1.2. GERMANY
5.1.3. FRANCE
5.1.4. SPAIN
5.1.5. ITALY
5.1.6. NORDIC
COUNTRIES
5.1.7. REST
OF EUROPE
6. COMPETITIVE
LANDSCAPE
6.1. ABB
LTD
6.1.1. OVERVIEW
6.1.2. PRODUCT
PORTFOLIO
6.1.3. STRENGTHS
6.1.4. CHALLENGE
6.2. AUTOGRID
SYSTEMS INC
6.2.1. OVERVIEW
6.2.2. PRODUCT
PORTFOLIO
6.2.3. STRENGTHS
6.2.4. CHALLENGE
6.3. ENEL
X
6.3.1. OVERVIEW
6.3.2. PRODUCT
PORTFOLIO
6.3.3. STRENGTHS
6.3.4. CHALLENGE
6.4. GENERAL
ELECTRIC COMPANY
6.4.1. OVERVIEW
6.4.2. PRODUCT
PORTFOLIO
6.4.3. STRENGTHS
6.4.4. CHALLENGE
6.5. BOSCH
6.5.1. OVERVIEW
6.5.2. PRODUCT
PORTFOLIO
6.5.3. STRENGTHS
6.5.4. CHALLENGE
6.6. NEXT
KRAFTWERKE
6.6.1. OVERVIEW
6.6.2. PRODUCT
PORTFOLIO
6.6.3. STRENGTHS
6.6.4. CHALLENGE
6.7. GENERAC
GRID SERVICES
6.7.1. OVERVIEW
6.7.2. PRODUCT
PORTFOLIO
6.7.3. STRENGTHS
6.7.4. CHALLENGE
6.8. SUNVERGE
ENERGY INC
6.8.1. OVERVIEW
6.8.2. PRODUCT
PORTFOLIO
6.8.3. STRENGTHS
6.8.4. CHALLENGE
6.9. CISCO
SYSTEMS INC
6.9.1. OVERVIEW
6.9.2. PRODUCT
PORTFOLIO
6.9.3. STRENGTHS
6.9.4. CHALLENGE
6.10. SIEMENS
AG
6.10.1. OVERVIEW
6.10.2. PRODUCT
PORTFOLIO
6.10.3. STRENGTHS
6.10.4. CHALLENGE
6.11. ENERGYHUB
6.11.1. OVERVIEW
6.11.2. PRODUCT
PORTFOLIO
6.12. LIMEJUMP
6.12.1. OVERVIEW
6.12.2. PRODUCT
PORTFOLIO
7. RESEARCH
METHODOLOGY & SCOPE
7.1. RESEARCH
SCOPE & DELIVERABLES
7.1.1. OBJECTIVES
OF STUDY
7.1.2. SCOPE
OF STUDY
7.2. SOURCES
OF DATA
7.2.1. PRIMARY
DATA SOURCES
7.2.2. SECONDARY
DATA SOURCES
7.3. RESEARCH
METHODOLOGY
7.3.1. EVALUATION
OF THE PROPOSED MARKET
7.3.2. IDENTIFICATION
OF DATA SOURCES
7.3.3. ASSESSMENT
OF MARKET DETERMINANTS
7.3.4. DATA
COLLECTION
7.3.5. DATA
VALIDATION & ANALYSIS
TABLE 1: EUROPE VIRTUAL POWER PLANT MARKET, BY COUNTRY OUTLOOK, 2024-2032
(IN $ MILLION)
TABLE 2: LIST OF CONTRACTS AND PARTNERSHIPS
TABLE 3: LIST OF BUSINESS EXPANSIONS AND DIVESTITURES
TABLE 4: LIST OF ACQUISITIONS
TABLE 5: EUROPE VIRTUAL POWER PLANT MARKET, BY TECHNOLOGY, 2024-2032 (IN
$ MILLION)
TABLE 6: EUROPE VIRTUAL POWER PLANT MARKET, BY END-USER, 2024-2032 (IN $
MILLION)
FIGURE 1: PORTER’S FIVE FORCES ANALYSIS
FIGURE 2: EUROPE VIRTUAL POWER PLANT MARKET, BY TECHNOLOGY, 2023 &
2032
FIGURE 3: EUROPE VIRTUAL POWER PLANT MARKET, BY DEMAND RESPONSE,
2024-2032 (IN $ MILLION)
FIGURE 4: EUROPE VIRTUAL POWER PLANT MARKET, BY DISTRIBUTED GENERATION,
2024-2032 (IN $ MILLION)
FIGURE 5: EUROPE VIRTUAL POWER PLANT MARKET, BY MIXED ASSETS, 2024-2032
(IN $ MILLION)
FIGURE 6: EUROPE VIRTUAL POWER PLANT MARKET, BY END-USER, 2023 & 2032
(IN %)
FIGURE 7: EUROPE VIRTUAL POWER PLANT MARKET, BY INDUSTRIAL, 2024-2032 (IN
$ MILLION)
FIGURE 8: EUROPE VIRTUAL POWER PLANT MARKET, BY COMMERCIAL, 2024-2032 (IN
$ MILLION)
FIGURE 9: EUROPE VIRTUAL POWER PLANT MARKET, BY RESIDENTIAL, 2024-2032
(IN $ MILLION)
FIGURE 10: UNITED KINGDOM VIRTUAL POWER PLANT MARKET 2024-2032 (IN $
MILLION)
FIGURE 11: GERMANY VIRTUAL POWER PLANT MARKET 2024-2032 (IN $ MILLION)
FIGURE 12: FRANCE VIRTUAL POWER PLANT MARKET 2024-2032 (IN $ MILLION)
FIGURE 13: SPAIN VIRTUAL POWER PLANT MARKET 2024-2032 (IN $ MILLION)
FIGURE 14: ITALY VIRTUAL POWER PLANT MARKET 2024-2032 (IN $ MILLION)
FIGURE 15: NORDIC COUNTRIES VIRTUAL POWER PLANT MARKET 2024-2032 (IN $
MILLION)
FIGURE 16: REST OF EUROPE VIRTUAL POWER PLANT MARKET 2024-2032 (IN $ MILLION)