Vehicle-To-Grid (V2G) Technology Market (By Component: Electric Vehicle Supply Equipment (EVSE), Smart Meters, Home Energy Management (HEM), Software; By Application: Battery Electric Vehicles (BEVs), Plug-In Hybrid Electric Vehicles (PHEVs), Fuel Cell Vehicles (FCVs)) – Global Industry Analysis, Size, Share, Growth, Trends, Revenue, Regional Outlook 2021 – 2030
The global Vehicle-To-Grid Technology market size is projected to be hit around US$ 20.06 billion by 2030 and is anticipated to grow at a CAGR of 50% during forecast period 2021 to 2030.
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Report Coverage
| Report Scope | Details |
| Market Size | USD 20.06 Billion by 2030 |
| Growth Rate | CAGR of 50% From 2021 to 2030 |
| Base Year | 2021 |
| Forecast Period | 2021 to 2030 |
| Segments Covered | Component, Application |
| Regional Scope | North America, Europe, Asia Pacific, Latin America, Middle East & Africa |
| Companies Mentioned | Nissan Motor Corporation, Mitsubishi Motors Corporation, NUVVE Corporation, ENGIE Group, OVO Energy Ltd, Groupe Renault, Honda Motor Co., Ltd. |
Combining BEVs (Battery Electric Vehicles) with vehicle-to-grid technology is creating revenue opportunities for various stakeholders in the market. This technology helps consumers to be a part of smart grid solution systems, which empowers them with price arbitrage and enables them to control energy reserves. Thus, vehicle owners can provide ancillary services to large distribution network operators and earn revenue by providing operators with energy reserves.
Report Highlights
Market scenario analysis, trends, drivers, and impact analysis – Increase in demand for electric vehicles and the government’s encouragement to shift toward e-vehicle are expected to surge the demand for vehicle-to-grid technology over the forecast period. Moreover, the high cost associated with electric vehicle charging equipment is a major factor that hampers the market growth.
Increase in demand for electric vehicles – Awareness about the damage caused to the environment with the increasing usage of combustion engines has effectively increased the demand for electric vehicles. Hence, the electric vehicle market is considered to be the future of the automobile as many customers are shifting to electric vehicles, owing to their economical and eco-friendly nature. This is expected to further drive the electric vehicle equipment market over the forecast period.
Market players should tap into high incremental opportunities in Europe and Asia Pacific. Increased research and development is helping technology providers integrate V2G with vehicle-to-everything (V2X) technology.
There is a direct impact of vehicle-to-grid technology on car batteries, since the implementation of the technology reduces their life cycle.
Countries such as France have strict regulatory norms to control how electricity can be injected into a grid from individual producers. Also, multiple administrative steps require approval from government authorities. Such complicated procedures are highly unwelcome for BEV and PHEV owners.
Key Players
Nissan Motor Corporation
Mitsubishi Motors Corporation
NUVVE Corporation
ENGIE Group
OVO Energy Ltd
Groupe Renault
Honda Motor Co., Ltd.
Market Segmentation
By Component
- Electric Vehicle Supply Equipment (EVSE)
- Smart Meters
- Home Energy Management (HEM)
- Software
By Application
- Battery Electric Vehicles (BEVs)
- Plug-In Hybrid Electric Vehicles (PHEVs)
- Fuel Cell Vehicles (FCVs)
By Region
- North America
- U.S.
- Canada
- Rest of North America
- Europe
- Norway
- Germany
- U.K.
- France
- Rest of Europe
- Asia Pacific (APAC)
- China
- India
- Japan
- South Korea
- Rest of APAC
- Middle East & Africa (MEA)
- GCC
- South Africa
- Rest of Middle East & Africa
- South America
- Brazil
- Rest of South America
The study objectives of this report are:
- To analyze and study the global market capacity, production, value, consumption, status (2017-2020) and forecast (2021-2030);
- Focuses on the key manufacturers, to study the capacity, production, value, market share and development plans in future.
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
- To define, describe and forecast the market by type, application and region.
- To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
- To identify significant trends and factors driving or inhibiting the market growth.
- To analyze the opportunities in the market for stakeholders by identifying the high growth segments.
- To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
- To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market
- To strategically profile the key players and comprehensively analyze their growth strategies.