Vehicle-to-Grid Market size was valued at USD 2.4 Billion in 2021, registering a CAGR of 29.6% during the forecast period (2022-2030), and the market is projected to be worth USD 24.7 Billion by 2030.
Vehicle-to-grid (V2G) is a technique that allows energy to be transferred back to the power grid from an electric car’s battery. With vehicle-to-grid technology, a car battery may be charged and drained based on various signals such as nearby energy generation or consumption. It provides a mechanism for meeting the needs of the electric power grid by utilising parked electric vehicles. V2G is compatible with plug-in electric cars such as battery electric vehicles (BEV), plug-in hybrid vehicles (PHEV), and hydrogen fuel cell electric vehicles (FCEV).
Vehicle-to-Grid Market Research Report” was just released by Market Research Community. It is divided into several categories, including Solution Type (Home Energy Management (HEM) Systems, Software Solutions, Electric Vehicle Supply Equipment (EVSE), Smart Meters), application (Base Load Power, Peak Power Sales, Spinning Reserves, Others), Vehicle Type (Plug-In Hybrid Electric Vehicle (PHEV), Battery Electric Vehicle (BEV), Fuel Cell Electric Vehicle (FCEV)), Charging Type (Unidirectional Charging, Bidirectional Charging), and companies (EnerDel, Inc, EV Grid, Inc, Fermata Energy, Hitachi, Ltd, Honda, Indra, Nissan Motor Corporation, NRG Energy, Inc, Nuvve Corporation, OVO Energy Ltd, Toyota-shokki, Wallbox, ABB, AC Propulsion, Inc., Boulder Electric Vehicle, DENSO Co., Edison International), According to the analysis of Market Research Community, The market is projected to grow at a significant pace reaching a CAGR of approximately 29.6%, over the forecast period of 2022–2030
The increased adoption of Vehicle-to-Grid in the Next Generation industry is due to high workability, Stability of structure, good quality, and Demand for making things better. The demand for Vehicle-to-Grid also has other significant aspects, such as analysis, purchasing volume, costs, pricing analysis, and regulatory framework. Additionally, the increased demand of Vehicle-to-Grid in many sectors also boosts the market growth during the forecast period.
|Report Attributes||Report Details|
|Market Size in 2030 (USD Billion)||24.7 Billion|
|By Solution Type||Home Energy Management (HEM) Systems, Software Solutions, Electric Vehicle Supply Equipment (EVSE), Smart Meters|
|By Application||Base Load Power, Peak Power Sales, Spinning Reserves, Others|
|By Charging Type||Unidirectional Charging, Bidirectional Charging|
|By Vehicle Type||Plug-In Hybrid Electric Vehicle (PHEV), Battery Electric Vehicle (BEV), Fuel Cell Electric Vehicle (FCEV)|
|By Geography||North America, Europe, Asia Pacific, Latin America, Middle East and Africa|
|Key Players||EnerDel, Inc, EV Grid, Inc, Fermata Energy, Hitachi, Ltd, Honda, Indra, Nissan Motor Corporation, NRG Energy, Inc, Nuvve Corporation, OVO Energy Ltd, Toyota-shokki, Wallbox, ABB, AC Propulsion, Inc., Boulder Electric Vehicle, DENSO Co., Edison International|
The COVID-19 pandemic has had a substantial negative influence on the Vehicle-to-Grid market in many different regions of the world. The factors such as limited availability of raw materials, transportation restrictions, the shutdown of manufacturing facilities, and economic slowdown are the major impacts of COVID-19 which hampered the market growth. Shipments were impacted during the initial lockdown due to halted automotive productions and stringent government rules. The overall impact of COVID-19 on the industry is estimated to be minimal because the situation has stabilised. Post covid-19, there was a positive impact on the market growth due to the increased industrial manufacturing processes and rising demand for environment-friendly alternatives.
Industry Competitive Landscape:
The research includes comprehensive profiles of the key players in the market and an analysis of the competitive landscape. The market for sample preparation has grown more quickly as a result of the spike in research and development (R&D), product innovation, different business strategies, and application releases. Key players in the market include-
EnerDel, Inc, EV Grid, Inc, Fermata Energy, Hitachi, Ltd, Honda, Indra, Nissan Motor Corporation, NRG Energy, Inc, Nuvve Corporation, OVO Energy Ltd, Toyota-shokki, Wallbox, ABB, AC Propulsion, Inc., Boulder Electric Vehicle, DENSO Co., Edison International
Market Segment Analysis:
By Solution Type
- Home Energy Management (HEM) Systems
- Software Solutions
- Electric Vehicle Supply Equipment (EVSE)
- Smart Meters
- Base Load Power
- Peak Power Sales
- Spinning Reserves
By Vehicle Type
- Plug-In Hybrid Electric Vehicle (PHEV)
- Battery Electric Vehicle (BEV)
- Fuel Cell Electric Vehicle (FCEV)
By Charging Type
- Unidirectional Charging
- Bidirectional Charging
The regional segment includes Asia Pacific, Europe, North America, the Middle East, and Africa, Latin America. In 2021, some of these regions expected to contribute the largest share during the forecast period.
The factors such as the large and easy availability of basic things, rising purchasing power among the population, and favorable government policies and industrial facilities are estimated to accelerate the industry growth in the region. The growing rate of industrialization is anticipated to boost the presence of Vehicle-to-Grid industries in the region.
Key Vehicle-to-Grid Market Trends
– Based on type, sub-type, technology utilised, applications, end-users, and geographies, the research identifies, defines, and predicts the Global Vehicle-to-Grid Market segments.
– Largest Market Share Held by Industry to Industry for Vehicle-to-Grid
– Based on their expected growth, development patterns and prospects for the future, and contributions to the overall market, it analyses the micro markets.
– Demand from the geographical area is estimated to boost growth.
– Growing Market Segment Adoption in the Vehicle-to-Grid Industry
– Over the forecast period, higher growth rates are anticipated in in some regions
Why Purchase the Industry Report by MRC
There is a huge amount of information in the report, including market trends and business opportunities for the forecast period.
Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) statistics.
Data at the regional, sub-regional, and national levels also includes information on the market’s supply and demand dynamics.
The competitive landscape includes the proportions of important players, recent innovations, and strategy.
Comprehensive product offerings, important financial data, latest advancements, SWOT analysis, and key player tactics.
Table of Content
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