Market by Technology, End-user, and Country Outlook | Forecast 2024-2032
Triton’s research report predicts that the virtual power plant market in
North America will achieve revenue at 23.42%
CAGR in the forecast years 2024-2032.
The
countries analyzed in the studied region include:
• United
States
• Canada
North America witnessed a significant uptake in grid-balancing
technologies catering to industrial, commercial, and residential sectors. The
emphasis on clean energy generation through renewables is anticipated to drive
the deployment of virtual power plants to strategically manage and distribute
energy. Thus, with minimal power wastage, it will cater to the increasing
energy demand which will lead to the expansion of the studied market.
In the United States, the market is dominated by the adoption of virtual
power plants aimed at optimizing energy distribution efficiency and reducing
wastage. Several companies are actively collaborating in renewable energy
production by lending their support in mitigating energy demand. Thus, the
integration of virtual power plants into the grid offers a solution that boosts
the growth of the virtual power plants market.
In Canada, government funding to increase renewable energy production
positively influences the progression of the virtual power plant market. The
country relies heavily on distributed electricity generation to satisfy
ever-growing energy needs. With numerous companies transitioning from
centralized power systems to technology-driven distributed power generation,
the virtual power plant is bound to grow.
Commercial virtual power plants provide an opportunity to balance energy
demand and supply for their end users. The commercial buildings face issues of
electricity shortage during peak hours and high per-unit electricity costs. Commercial consumers include offices, government
institutions, public services, and hospitals, among others. The market
segments for virtual power plants are determined based on end-user and
technology. The end-user segment is
categorized into commercial, residential, and industrial.
The leading market players in the virtual
power plant market are
General Electric Company, Next Kraftwerke, ABB Ltd, EnergyHub, Limejump,
Autogrid Systems Inc, Generac Grid Services, Sunverge Energy Inc, Cisco Systems
Inc, Bosch, Siemens AG, and Enel X.
Enel X is a provider of cloud-based energy intelligence software and
services to enterprise customers and utilities. Its services include
distributed generation and microgrids, bill management, energy infrastructure,
advisory and energy intelligence software, etc. The company is headquartered in
the United States and operates in Italy, Iberia, South America, North &
Central America, Rest of Europe and other countries.
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 North 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 North
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. NORTH
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. NORTH
AMERICA VIRTUAL POWER PLANT MARKET - BY TECHNOLOGY
3.1. DEMAND
RESPONSE
3.2. DISTRIBUTED
GENERATION
3.3. MIXED
ASSETS
4. NORTH
AMERICA VIRTUAL POWER PLANT MARKET - BY END-USER
4.1. INDUSTRIAL
4.2. COMMERCIAL
4.3. RESIDENTIAL
5. NORTH
AMERICA VIRTUAL POWER PLANT MARKET – BY COUNTRY OUTLOOK
5.1. COUNTRY
ANALYSIS
5.1.1. UNITED
STATES
5.1.2. CANADA
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: NORTH 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: NORTH AMERICA VIRTUAL POWER PLANT MARKET, BY TECHNOLOGY,
2024-2032 (IN $ MILLION)
TABLE 6: NORTH AMERICA VIRTUAL POWER PLANT MARKET, BY END-USER, 2024-2032
(IN $ MILLION)
FIGURE 1: PORTER’S FIVE FORCES ANALYSIS
FIGURE 2: NORTH AMERICA VIRTUAL POWER PLANT MARKET, BY TECHNOLOGY, 2023
& 2032
FIGURE 3: NORTH AMERICA VIRTUAL POWER PLANT MARKET, BY DEMAND RESPONSE,
2024-2032 (IN $ MILLION)
FIGURE 4: NORTH AMERICA VIRTUAL POWER PLANT MARKET, BY DISTRIBUTED
GENERATION, 2024-2032 (IN $ MILLION)
FIGURE 5: NORTH AMERICA VIRTUAL POWER PLANT MARKET, BY MIXED ASSETS,
2024-2032 (IN $ MILLION)
FIGURE 6: NORTH AMERICA VIRTUAL POWER PLANT MARKET, BY END-USER, 2023
& 2032 (IN %)
FIGURE 7: NORTH AMERICA VIRTUAL POWER PLANT MARKET, BY INDUSTRIAL,
2024-2032 (IN $ MILLION)
FIGURE 8: NORTH AMERICA VIRTUAL POWER PLANT MARKET, BY COMMERCIAL,
2024-2032 (IN $ MILLION)
FIGURE 9: NORTH AMERICA VIRTUAL POWER PLANT MARKET, BY RESIDENTIAL,
2024-2032 (IN $ MILLION)
FIGURE 10: UNITED STATES VIRTUAL POWER PLANT MARKET 2024-2032 (IN $
MILLION)
FIGURE 11: CANADA VIRTUAL POWER PLANT MARKET 2024-2032 (IN $ MILLION)