Virtual Power Plant Market Progresses for Huge Profits During 2021
The global virtual power plant market is expected to grow from USD 193.4 million in 2016 to USD 709.2 million by 2021, at a CAGR of 29.68% from 2016 to 2021. Virtual power plants are employed to optimize power generation from existing sources, integrate various renewable energy sources, and, ultimately, reduce the carbon footprint on the environment. Any growth in the smart grid would directly impact the virtual power plant market.
To provide an in-depth understanding of the competitive landscape, the report includes profiles of some of the leading players in the virtual power plant solutions market, namely, ABB Ltd. (Switzerland), Siemens AG (Germany), Schneider Electric SE (France), General Electric Company (U.S.), EnerNOC, Inc. (U.S.), Comverge, Inc. (U.S.), Limejump Ltd. (U.K.), among others. Leading players are trying to penetrate the markets in developing economies and are adopting various strategies to increase their market share.
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The following are the major objectives of the study.
· To define and segment the virtual power plant market with respect to technology, end-user, and region
· To provide detailed information on major factors influencing the growth of the market (drivers, restraints, opportunities, and industry-specific challenges)
· To strategically analyze the virtual power plant market with respect to individual growth trends, future expansions, and contribution to the market
· To analyze market opportunities for stakeholders, and details of a competitive landscape for market leaders
· To forecast the growth of the virtual power plant market with respect to the major geographical regions (Asia-Pacific, Europe, North America, and Rest of the World)
· To strategically profile key players, and comprehensively analyze their market ranking and core competencies
· To analyze competitive developments such as new product launches, mergers & acquisitions, expansions, and supply contracts in the virtual power plant market
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Critical questions the report answers:
· Where will all these developments take the industry in the mid to long term?
· What are the upcoming industry applications for virtual power plants?
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