Asia Pacific Virtual Power Plant Market Size & Outlook
The virtual power plant market in Asia Pacific is expected to reach a projected revenue of US$ 3,395.3 million by 2030. A compound annual growth rate of 25.6% is expected of Asia Pacific virtual power plant market from 2024 to 2030.
Revenue, 2023 (US$M)
$690.1
Forecast, 2030 (US$M)
$3,395.3
CAGR, 2024 - 2030
25.6%
Report Coverage
Asia Pacific
Asia Pacific virtual power plant market, 2018-2030 (US$M)
Related Markets
Asia Pacific virtual power plant market highlights
- The Asia Pacific virtual power plant market generated a revenue of USD 690.1 million in 2023.
- The market is expected to grow at a CAGR of 25.6% from 2024 to 2030.
- In terms of segment, demand response was the largest revenue generating technology in 2023.
- Mixed Asset is the most lucrative technology segment registering the fastest growth during the forecast period.
- Country-wise, Australia is expected to register the highest CAGR from 2024 to 2030.
Asia Pacific data book summary
| Market revenue in 2023 | USD 690.1 million |
| Market revenue in 2030 | USD 3,395.3 million |
| Growth rate | 25.6% (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 |
| Key market players worldwide | Siemens, Toshiba Corporation, Next Kraftwerke, Hitachi Ltd, ABB Ltd, Tesla Inc, Autogrid, Limejump, Sunverge Energy, Centrica PLC |
Other key industry trends
- In terms of revenue, Asia Pacific region accounted for 16.7% of the global virtual power plant market in 2023.
- Globally, North America is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 3,395.3 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 |
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Asia Pacific virtual power plant market size, by country, 2018-2030 (US$M)
Asia Pacific Virtual Power Plant Market Outlook Share, 2023 & 2030 (US$M)
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