Global Virtual Power Plant Market Size & Outlook
The virtual power plant industry worldwide is expected to reach a projected revenue of US$ 16,654.8 million by 2030. A compound annual growth rate of 22.3% is expected of the worldwide virtual power plant industry from 2025 to 2030.
Revenue, 2024 (US$M)
$5,005.8
Forecast, 2030 (US$M)
$16,654.8
CAGR, 2025 - 2030
22.3%
Report Coverage
Worldwide
Global virtual power plant market, 2018-2030 (US$M)
Related Markets
Global virtual power plant market highlights
- The global virtual power plant market generated a revenue of USD 4,129.2 million in 2023 and is expected to reach USD 16,654.8 million by 2030.
- The market is expected to grow at a CAGR (2024 - 2030) of 22% by 2030.
- In terms of segment, demand response accounted for a revenue of USD 1,994.1 million in 2023.
- Mixed Asset is the most lucrative technology segment registering the fastest growth during the forecast period.
- In terms of region, North America was the largest revenue generating market in 2023.
- Country-wise, U.S. is expected to register the highest CAGR from 2024 to 2030.
Global data book summary
| Market revenue in 2023 | USD 4,129.2 million |
| Market revenue in 2030 | USD 16,654.8 million |
| Growth rate | 22% (CAGR from 2023 to 2030) |
| Largest segment | Demand response |
| Fastest growing segment | Mixed Asset |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Distributed Energy Resource, Demand Response, Mixed Asset |
Other key industry trends
- In terms of revenue, the North America accounted for 36.1% of the global virtual power plant market in 2023.
- By country, the U.S. is projected to lead the global market in terms of revenue in 2030.
- By country, U.S. is the fastest growing regional market and is projected to reach USD 3,997.2 million by 2030.
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Virtual Power Plant Market Scope
Virtual power plant market segmentation & scope
Virtual Power Plant Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
Global virtual power plant market size, by regions, 2018-2030 (US$M)
Top 10 countries: Virtual power plant market size, 2024 (US$M)
Global virtual power plant market share, by technology, 2024 & 2030 (%, US$M)
Virtual power plant market: Opportunity assessment by country
Global virtual power plant market, by region, 2024 (US$M)
Related regional statistics
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