Europe virtual power plant market is expected to witness significant growth during the forecast period. The Europe virtual power plant market is driven by the growing understanding among government of various countries in the region regarding high requirement to lessen power outages. Additionally, surging requirement for renewable sources of energy is propelling the market growth in the region. Progressively rising affinity for electricity reduction demand, is creating lucrative growth opportunities in the market.
The Europe virtual power plant market is segmented based on technology, end user, source, component, company and region. Based on end user, the market can be categorized into residential, commercial, and industrial. Here, the industrial segment is expected to register highest growth in the market during the forecast period, since the industrial end-users are among the highest adopters of the virtual power plant setups and services. This can be accredited to the fact that the peak load of the electricity is highest in various industries such as petroleum, chemical, and paper & pulp, among others, which has created a productive market for virtual power plants in the industrial sector. The Europe virtual power plant is further segmented based on various technologies which include demand response, distributed energy generation units, and mixed assets. During the forecast period, mixed assets technology-based virtual power plant is estimated to grow at a high pace on account of surging demand for prosumers and bidirectional flow of electricity in the supply chain to meet the surging electricity demand.
Major players operating in the Europe virtual power plant market include ABB Ltd., AGL Energy, AutoGrid Systems, Inc., Comverge, Inc., Enbala Power Networks, EnerNOC, Inc., General Electric Company, Siemens AG, Schneider Electric SE, Limejump Ltd and others. The market players are adopting various competitive strategies such as mergers & acquisitions, partnership, agreements in order to expand their geographic reach and to increase their customer bases.
Years considered for this report
Historical Years2016-2019
Base Year2020
Estimated Year2021
Forecast Period2022–2026
Objective of the Study
- To analyze and estimate the market size of
Europe virtual power plant market from 2016 to 2019.
- To estimate and forecast the market size of
Europe virtual power plant market from 2020 to 2026 and growth rate until 2026.
- To classify and forecast Europe virtual power
plant market based on technology, end user, source, component, company and
regional distribution.
- To identify dominant region or segment in the
Europe virtual power plant market.
- To identify drivers and challenges for Europe virtual
power plant market.
- To examine competitive developments such as
expansions, new product launches, mergers & acquisitions, etc., in
Europe virtual power plant market.
- To identify and analyze the profile of leading
players operating in Europe virtual power plant market.
- To identify key sustainable strategies adopted
by market players in Europe virtual power plant market.
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Market insights research performed both primary as well as exhaustive secondary research for this study. Initially, Market insights research sourced a list of manufacturers across the region. Subsequently, Market insights research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, Market insights research could include the manufacturers which could not be identified due to the limitations of secondary research. Market insights research analyzed the manufacturers, distribution channels and presence of all major players across the region.
Market insights research calculated the market size of
Key Target Audience
- Virtual power plant manufacturers,
suppliers and other stakeholders
- Government bodies such as
regulating authorities and policy makers
- Organizations, forums and
alliances related to virtual power plant
- Market research and
consulting firms
The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as manufacturers, suppliers, partners, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.
