Global Virtual Power Plant Market
Information Technology

Insights Into The Virtual Power Plant Market’s Growth Potential 2023-2032

The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032



  • The global virtual power plant market is set for substantial growth, with expectations to reach $2.36 billion in 2023, showcasing an impressive Compound Annual Growth Rate (CAGR) of 22.5%.
  • Looking further ahead, the market is projected to reach $5.04 billion in 2027, maintaining a robust CAGR of 20.9%.



Renewable Revolution: Driving Force for Virtual Power Plants

  • The escalating demand for renewable energy emerges as a catalyst propelling the virtual power plant market.
  • Virtual power plants (VPPs) play a pivotal role in balancing the production and consumption of renewable energy.
  • As of 2021, the percentage of renewables in global electricity generation reached 29%, showcasing a shift towards sustainable energy sources.
  • The ability of VPPs to manage and forecast energy usage contributes to the growth of demand response initiatives.



Industry Titans: Key Players Shaping the Market

  • Major players influencing the virtual power plant market include ABB Ltd., Autogrid Systems Inc., Enel X Ltd., General Electric Ltd., and others.
  • These industry leaders are instrumental in developing technologies and solutions that align with the increasing demand for efficient and sustainable energy management.



Tech-Powered Trends: Advanced Technologies Take Center Stage

  • The adoption of advanced technologies is a prevailing trend in the virtual power plant market.
  • Industry giants are focusing on integrating innovative technologies to secure their positions in the market.
  • An example is AutoGrid Systems, which, in October 2022, partnered with Mysa to create utility-scale virtual power plants using an AI-powered VPP platform and Mysa’s smart thermostat technology.
  • The incorporation of features such as demand-side resources and distributed generation enhances the profitability of different energy markets.



Market Segmentation: Understanding the Dynamics

The virtual power plant market encompasses diverse segments, reflecting the variety of technologies and applications within the industry:

  1. By Technology:
    • Distribution Generation
    • Demand Response
    • Mixed Asset
  2. By Source:
    • Renewable Energy
    • Cogeneration
    • Energy Storage
  3. By End User:
    • Industrial
    • Commercial
    • Residential



Regional Powerhouses: North America Leads, Middle East Emerges

  • In 2022, North America claimed the largest share in the virtual power plant market, solidifying its position as a key player.
  • The Middle East is anticipated to be the fastest-growing region in the forecast period, emphasizing the global embrace of virtual power plants as a sustainable energy solution.



Get A Free Sample On The Global Virtual Power Plant Market Report:



Read The Full Virtual Power Plant Market Report Here:



The Virtual Power Plant Global Market Report 2023  provides an overview of the virtual power plant market for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The virtual power plant market forecast analyzes virtual power plant market size, virtual power plant market share, leading competitor and their market positions.



Explore Similar Reports From The Business Research Company:

Portable Generators Global Market Report 2023

Power Generators Global Market Report 2023

Power Rental Global Market Report 2023



Learn More About The Business Research Company
The Business Research Company has published over 6500+ detailed industry reports, spanning over 3000+ market segments and 60 geographies. The reports draw on 1,500,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders.



Contact us at:
The Business Research Company:
+1 3156230293
Asia +44 2071930708
Europe +44 2071930708
Email us at



Follow us on:
Global Market Model:
Found this article helpful? Share it on:

Leave a Reply

Your email address will not be published. Required fields are marked *