Market by Technology, End-user, and Country Outlook | Forecast 2024-2032
Triton’s research report estimates that the Latin
American virtual power plant market is set to rise at 22.10% CAGR during the forecast period 2024-2032.
The
countries examined in the studied region include:
• Brazil
• Mexico
• Rest
of Latin America
Latin American nations are taking
active efforts to reduce carbon emissions and promote the adoption of renewable
energy sources across the region. Incentive programs aimed toward this
transition play a crucial role in efficiently managing electricity demand and
integrating decentralized power generation units. Additionally, the rising
government investment in renewable energy is expected to drive significant
growth in the demand for virtual power plants in this region.
Brazil leads with the highest share in the Latin American virtual power plant market. The country has a potential for generating electricity through wind
power plants and solar panels. However, this potential remains largely untapped
due to deficiencies in both generation and distribution infrastructure. Thus,
investments in the renewable energy sector pave the way for the development of
opportunities that positively influence the virtual power plant market.
Mexico is revamping several energy
policies to integrate renewable sources into the grid more seamlessly. According
to the International Renewable Energy Agency, solar and wind energy combined
are projected to account for 60% of the country’s total electricity generation
by 2030. It also predicts that the electricity demand will rise to 470 TWh by
2029. This growing future demand for electricity generation is bound to drive
the expansion of the virtual power plant market.
Demand response is an automated grid
control mechanism to maintain grid stability by changing the normal pattern of
electricity consumption by end users during peak hours. The virtual power
plants, when integrated with the demand response mechanism, curtail the
demand-supply gap and prevent power outages. The segments of the studied market include technology and
end-user. The
technology segment comprises demand response, mixed assets, and distributed
generation.
The leading enterprises in the virtual
power plant market are Bosch, Next Kraftwerke, EnergyHub, ABB Ltd, Autogrid Systems
Inc, General Electric Company, Generac Grid Services, Sunverge Energy Inc,
Limejump, Siemens AG, Cisco Systems Inc, and Enel X.
Bosch is a supplier of automotive, consumer goods, industrial
technology, and energy and building technology products. Its portfolio
comprises power tools, heating systems, accessories, eBike systems, household
appliances, security systems, and solar inverters. It operates through
engineering locations in countries across Europe, the Americas, Asia, the
Middle East and Africa. The company is headquartered in Stuttgart, 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 Latin America 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 Latin
America 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. LATIN
AMERICA 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. LATIN
AMERICA VIRTUAL POWER PLANT MARKET - BY TECHNOLOGY
3.1. DEMAND
RESPONSE
3.2. DISTRIBUTED
GENERATION
3.3. MIXED
ASSETS
4. LATIN
AMERICA VIRTUAL POWER PLANT MARKET - BY END-USER
4.1. INDUSTRIAL
4.2. COMMERCIAL
4.3. RESIDENTIAL
5. LATIN
AMERICA VIRTUAL POWER PLANT MARKET – BY COUNTRY OUTLOOK
5.1. COUNTRY
ANALYSIS
5.1.1. BRAZIL
5.1.2. MEXICO
5.1.3. REST
OF LATIN AMERICA
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: LATIN AMERICA 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: LATIN AMERICA VIRTUAL POWER PLANT MARKET, BY TECHNOLOGY,
2024-2032 (IN $ MILLION)
TABLE 6: LATIN AMERICA VIRTUAL POWER PLANT MARKET, BY END-USER, 2024-2032
(IN $ MILLION)
FIGURE 1: PORTER’S FIVE FORCES ANALYSIS
FIGURE 2: LATIN AMERICA VIRTUAL POWER PLANT MARKET, BY TECHNOLOGY, 2023
& 2032
FIGURE 3: LATIN AMERICA VIRTUAL POWER PLANT MARKET, BY DEMAND RESPONSE,
2024-2032 (IN $ MILLION)
FIGURE 4: LATIN AMERICA VIRTUAL POWER PLANT MARKET, BY DISTRIBUTED
GENERATION, 2024-2032 (IN $ MILLION)
FIGURE 5: LATIN AMERICA VIRTUAL POWER PLANT MARKET, BY MIXED ASSETS,
2024-2032 (IN $ MILLION)
FIGURE 6: LATIN AMERICA VIRTUAL POWER PLANT MARKET, BY END-USER, 2023
& 2032 (IN %)
FIGURE 7: LATIN AMERICA VIRTUAL POWER PLANT MARKET, BY INDUSTRIAL,
2024-2032 (IN $ MILLION)
FIGURE 8: LATIN AMERICA VIRTUAL POWER PLANT MARKET, BY COMMERCIAL,
2024-2032 (IN $ MILLION)
FIGURE 9: LATIN AMERICA VIRTUAL POWER PLANT MARKET, BY RESIDENTIAL,
2024-2032 (IN $ MILLION)
FIGURE 10: BRAZIL VIRTUAL POWER PLANT MARKET 2024-2032 (IN $ MILLION)
FIGURE 11: MEXICO VIRTUAL POWER PLANT MARKET 2024-2032 (IN $ MILLION)
FIGURE 12: REST OF LATIN AMERICA VIRTUAL POWER PLANT MARKET 2024-2032 (IN
$ MILLION)