North America Virtual Power Plant Market to 2028 - Featuring ABB, General Electric and Robert Bosch Among Others - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "North America Virtual Power Plant Market 2019-2028" report has been added to ResearchAndMarkets.com's offering.

This report implies the North America virtual power plant market to surge at a CAGR of 22.15% in the considered years 2019-2028. The United States and Canada shape the market in this region.

The United States is known for the technological advancements in its power industry. The increase in the use of distributed energy resources into the market enhances the implementation of virtual power plants in numerous parts of the country. Moreover, the plants will improve the energy consumption levels and reduce the power fluctuations. This will, in turn, offer additional voltage and frequency control. The enhanced adoption of VPPs is helping the growth of the studied market in the US.

Due to the population being spread across its three territories, Canada is highly dependent on using a distributed electricity generation system to meet the consumers' electricity demand. Moreover, due to its large geography and low population, new innovative strategies are required to enhance the virtual plants' electricity supply network. The progress of the virtual power plants is supported mainly by the rise in electricity generation through hydropower and other non-hydro renewable resources.

Additionally, the government grants given to lift the production levels of renewable energy aid the growth of the virtual power plant market. Further, the virtual power plants focus on maintaining the load balance in the smart grid network. Also, these plants help balance the demand-supply difference by lowering electricity prices during non-peak hours.

Companies Mentioned

• ABB Ltd
• Autogrid Systems Inc
• Statkraft
• Next Kraftwerke
• Enel X
• General Electric
• Hitachi Ltd
• Flexitricity Limited
• IBM Corporation
• Open Access Technology International Inc
• Robert Bosch
• Schneider Electric
• Siemens
• Viridity Energy
• Enbala

Key Topics Covered:

1. North America Virtual Power Plant Market - Summary

2. Industry Outlook

2.1. Market Definition

2.2. Key Insights

2.2.1. Demand Leads Technology Segment

2.2.2. Rise in Renewable Energy Generation to Drive Market

2.2.3. Integration of Blockchain Enhances Capabilities of Virtual Power Plants

2.3. Porter's Five Forces Analysis

2.3.1. Threat of New Entrants

2.3.2. Threat of Substitute

2.3.3. Bargaining Power of Suppliers

2.3.4. Bargaining Power of Buyers

2.3.5. Threat of Competitive Rivalry

2.4. Key Impact Analysis

2.4.1. Price

2.4.2. Scalability

2.4.3. Technology

2.4.4. Feasibility

2.5. Market Attractiveness Index

2.6. Vendor Scorecard

2.7. Industry Components

2.7.1. Power Producers

2.7.2. Virtual Power Plant

2.7.3. Directed Energy Operators (Dsos)

2.7.4. End-Users

2.8. Regulatory Framework

2.9. Market Drivers

2.9.1. Growing Adoption of Decentralized Power Generation

2.9.2. Increase in Renewable Energy Generation

2.9.3. Rise in Trend of Cloud-Based Energy Management Systems

2.9.4. Government Initiatives to Favour Market

2.10. Market Restraints

2.10.1. High Initial Investment

2.10.2. Lack of Skilled Professionals

2.11. Market Opportunities

2.11.1. Growth in Electric Vehicle Market to Generate Opportunities

2.12. Market Challenges

2.12.1. Privacy Concerns

2.13. Impact of Covid-19 Pandemic on Virtual Power Plant Market

3. North America Virtual Power Plant Market Outlook - by Technology

3.1. Demand Response

3.2. Distributed Generation

3.3. Mixed Assets

4. North America Virtual Power Plant Market Outlook - by Source

4.1. Distributed Energy Generation System

4.2. Energy Storage System

5. North America Virtual Power Plant Market Outlook - by End-User

5.1. Industrial

5.2. Commercial

5.3. Residential

6. North America Virtual Power Plant Market - Regional Outlook

6.1. United States

6.2. Canada

7. Competitive Landscape

8. Methodology & Scope

8.1. Research Scope & Deliverables

8.2. Sources of Data

8.3. Research Methodology

For more information about this report visit https://www.researchandmarkets.com/r/3tmxen