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Global Vehicle-To-Grid Market to reach USD 13.09 billion by the end of 2030.

Global Vehicle-To-Grid Market Size study & Forecast, by Technology (Power management, Software) by Charging Type (Unidirectional Charging, Bidirectional Charging), by Vehicle Type (Battery Electric Vehicles, Plug In Hybrid Electric Vehicles, Fuel Cell Vehicles (FCVs)), by Component (Electric Vehicle Supply Equipment (EVSE), Smart Meters, Home Energy Management (HEM), Others) and Regional Analysis, 2023-2030

Product Code: ALTAE-39231968
Publish Date: 20-07-2023
Page: 200

Global Vehicle-To-Grid Market is valued at approximately USD 2.16 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 25.3% over the forecast period 2023-2030. The term “vehicle-to-grid” refers to a technology that enables plug-in electric vehicles, including battery electric vehicles, plug-in hybrids, and hydrogen cell electric vehicles, to interact with the electrical grid to obtain power. Additionally, in the coming years, the global vehicle-to-grid (V2G) industry is expected to rise as a result of factors such rising electric car demand and government initiatives to build out infrastructure for electric vehicle charging.

The demand for electric vehicles is rising, which is what is driving the market’s expansion. According to the International Energy Agency, China had the most sales in 2021, tripling those of 2020 with 3.3 million, followed by Europe with 2.3 million sales, an increase from 1.4 million in 2020. In 2021, 630 000 electric vehicles were sold in the United States, doubling their market share to 4.5%. Electric car sales increased more than twice as much in emerging nations, although they are still relatively small. It is predict that the global EV sales share will be around 13% in the first half of 2022, as sales have continued to rise. Moreover, due to the rapid growth of the economy and society in many developed nations around the world, the levels of industrialization and urbanization have improved as well as increased investments by the key market players in the market of EVs. These factors are anticipated to create the lucrative opportunity for the market. However, lack of sufficient infrastructure, and lack of standardization of electric vehicle (EV) charging are expected to hinder the growth of the global V2G market during the forecast period of 2023-2030.

The key regions considered for the Global Vehicle-To-Grid Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. Europe dominated the market in 2022. The market for vehicle-to-grid technology is boosted by the higher number of on-road electric vehicles and electric vehicle manufacturers in Europe. Furthermore, the scale of the vehicle-to-grid industry in the region has increased due to stricter vehicle pollution standards, tax benefits, and incentives offered by the governments of Europe for the adoption of electric vehicles. Asia Pacific is expected to be the fastest growing region during the forecast period. The green revolution movements in Asian nations including China, Japan, India, and South Korea are the main causes of the enormous rise. For instance, China is investing heavily to achieve its objective of a fully electrified transportation system in the region by 2025.

Major market player included in this report are:
AC Propulsion, Inc.
Boulder Electric Vehicle
Edison International
EnerDel, Inc
EV Grid, Inc
Fermata Energy
Hitachi, Ltd
Recent Developments in the Market:
Ø In April 2022, Porsche AG collaborated with TransnetBW, a prominent transmission grid operator in Germany, and consulting firm Intelligent Energy System Services (IE2S) to showcase the capabilities of an intelligent swarm of electric vehicles. The demonstration focused on highlighting the role of vehicle-to-grid technology, which allows electric vehicles to function as mobile power-storage units and efficiently supply or draw electricity from the grid during periods of high demand.
Ø In October 2021, The public announcement revealed a partnership between Wallbox Chargers and Nuvve Holding Corp., aimed at jointly developing and enhancing vehicle-to-grid (V2G) technology within the Spanish market. The team has created a two-way charger that gives users the extra freedom to both store additional power and discharge it back into the grid from an electric vehicle’s battery.
Global Vehicle-To-Grid Market Report Scope:
ü Historical Data – 2020 – 2021
ü Base Year for Estimation – 2022
ü Forecast period – 2023-2030
ü Report Coverage – Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
ü Segments Covered – Technology, Charging Type, Vehicle Type, Component, Region
ü Regional Scope – North America; Europe; Asia Pacific; Latin America; Middle East & Africa
ü Customization Scope – Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Technology:
Power management
By Charging Type:
Unidirectional Charging
Bidirectional Charging
By Vehicle Type:
Battery Electric Vehicles
Plug In Hybrid Electric Vehicles
Fuel Cell Vehicles (FCVs)
By Component:
Electric Vehicle Supply Equipment (EVSE)
Smart Meters
Home Energy Management (HEM)
By Region:

North America


Asia Pacific
South Korea

Latin America

Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2020-2030 (USD Billion)
1.2.1. Vehicle-To-Grid Market, by Region, 2020-2030 (USD Billion)
1.2.2. Vehicle-To-Grid Market, by Technology, 2020-2030 (USD Billion)
1.2.3. Vehicle-To-Grid Market, by Charging Type, 2020-2030 (USD Billion)
1.2.4. Vehicle-To-Grid Market, by Vehicle Type, 2020-2030 (USD Billion)
1.2.5. Vehicle-To-Grid Market, by Component, 2020-2030 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Vehicle-To-Grid Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Industry Evolution
2.2.2. Scope of the Study
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Vehicle-To-Grid Market Dynamics
3.1. Vehicle-To-Grid Market Impact Analysis (2020-2030)
3.1.1. Market Drivers Increasing electric vehicle demand Government initiatives to build out infrastructure for electric vehicle charging.
3.1.2. Market Challenges Lack of sufficient infrastructure Lack of standardization of electric vehicle (EV) charging
3.1.3. Market Opportunities Increasing Investments by the key market players Rapid growth of industrialization and urbanization
Chapter 4. Global Vehicle-To-Grid Market Industry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.2. Porter’s 5 Force Impact Analysis
4.3. PEST Analysis
4.3.1. Political
4.3.2. Economical
4.3.3. Social
4.3.4. Technological
4.3.5. Environmental
4.3.6. Legal
4.4. Top investment opportunity
4.5. Top winning strategies
4.6. COVID-19 Impact Analysis
4.7. Disruptive Trends
4.8. Industry Expert Perspective
4.9. Analyst Recommendation & Conclusion
Chapter 5. Global Vehicle-To-Grid Market, by Technology
5.1. Market Snapshot
5.2. Global Vehicle-To-Grid Market by Technology, Performance – Potential Analysis
5.3. Global Vehicle-To-Grid Market Estimates & Forecasts by Technology 2020-2030 (USD Billion)
5.4. Vehicle-To-Grid Market, Sub Segment Analysis
5.4.1. Power management
5.4.2. Software
Chapter 6. Global Vehicle-To-Grid Market, by Charging Type
6.1. Market Snapshot
6.2. Global Vehicle-To-Grid Market by Charging Type, Performance – Potential Analysis
6.3. Global Vehicle-To-Grid Market Estimates & Forecasts by Charging Type 2020-2030 (USD Billion)
6.4. Vehicle-To-Grid Market, Sub Segment Analysis
6.4.1. Unidirectional Charging
6.4.2. Bidirectional Charging
Chapter 7. Global Vehicle-To-Grid Market, by Vehicle Type
7.1. Market Snapshot
7.2. Global Vehicle-To-Grid Market by Vehicle Type, Performance – Potential Analysis
7.3. Global Vehicle-To-Grid Market Estimates & Forecasts by Vehicle Type 2020-2030 (USD Billion)
7.4. Vehicle-To-Grid Market, Sub Segment Analysis
7.4.1. Battery Electric Vehicles
7.4.2. Plug In Hybrid Electric Vehicles
7.4.3. Fuel Cell Vehicles (FCVs)
Chapter 8. Global Vehicle-To-Grid Market, by Component
8.1. Market Snapshot
8.2. Global Vehicle-To-Grid Market by Component, Performance – Potential Analysis
8.3. Global Vehicle-To-Grid Market Estimates & Forecasts by Component 2020-2030 (USD Billion)
8.4. Vehicle-To-Grid Market, Sub Segment Analysis
8.4.1. Electric Vehicle Supply Equipment (EVSE)
8.4.2. Smart Meters
8.4.3. Home Energy Management (HEM)
8.4.4. Others
Chapter 9. Global Vehicle-To-Grid Market, Regional Analysis
9.1. Top Leading Countries
9.2. Top Emerging Countries
9.3. Vehicle-To-Grid Market, Regional Market Snapshot
9.4. North America Vehicle-To-Grid Market
9.4.1. U.S. Vehicle-To-Grid Market Technology breakdown estimates & forecasts, 2020-2030 Charging Type breakdown estimates & forecasts, 2020-2030 Vehicle Type breakdown estimates & forecasts, 2020-2030 Component breakdown estimates & forecasts, 2020-2030
9.4.2. Canada Vehicle-To-Grid Market
9.5. Europe Vehicle-To-Grid Market Snapshot
9.5.1. U.K. Vehicle-To-Grid Market
9.5.2. Germany Vehicle-To-Grid Market
9.5.3. France Vehicle-To-Grid Market
9.5.4. Spain Vehicle-To-Grid Market
9.5.5. Italy Vehicle-To-Grid Market
9.5.6. Rest of Europe Vehicle-To-Grid Market
9.6. Asia-Pacific Vehicle-To-Grid Market Snapshot
9.6.1. China Vehicle-To-Grid Market
9.6.2. India Vehicle-To-Grid Market
9.6.3. Japan Vehicle-To-Grid Market
9.6.4. Australia Vehicle-To-Grid Market
9.6.5. South Korea Vehicle-To-Grid Market
9.6.6. Rest of Asia Pacific Vehicle-To-Grid Market
9.7. Latin America Vehicle-To-Grid Market Snapshot
9.7.1. Brazil Vehicle-To-Grid Market
9.7.2. Mexico Vehicle-To-Grid Market
9.8. Middle East & Africa Vehicle-To-Grid Market
9.8.1. Saudi Arabia Vehicle-To-Grid Market
9.8.2. South Africa Vehicle-To-Grid Market
9.8.3. Rest of Middle East & Africa Vehicle-To-Grid Market

Chapter 10. Competitive Intelligence
10.1. Key Company SWOT Analysis
10.1.1. Company 1
10.1.2. Company 2
10.1.3. Company 3
10.2. Top Market Strategies
10.3. Company Profiles
10.3.1. ABB Key Information Overview Financial (Subject to Data Availability) Product Summary Recent Developments
10.3.2. AC Propulsion, Inc.
10.3.3. Boulder Electric Vehicle
10.3.4. DENSO Co.
10.3.5. Edison International
10.3.6. EnerDel, Inc
10.3.7. EV Grid, Inc
10.3.8. Fermata Energy
10.3.9. Hitachi, Ltd
10.3.10. Honda
Chapter 11. Research Process
11.1. Research Process
11.1.1. Data Mining
11.1.2. Analysis
11.1.3. Market Estimation
11.1.4. Validation
11.1.5. Publishing
11.2. Research Attributes
11.3. Research Assumption

At Bizwit Research and Consultancy, we employ a thorough and iterative research methodology with the goal of minimizing discrepancies, ensuring the provision of highly accurate estimates and predictions over the forecast period. Our approach involves a combination of bottom-up and top-down strategies to effectively segment and estimate quantitative aspects of the market, utilizing our proprietary data & AI tools. Our Proprietary Tools allow us for the creation of customized models specific to the research objectives. This enables us to develop tailored statistical models and forecasting algorithms to estimate market trends, future growth, or consumer behavior. The customization enhances the accuracy and relevance of the research findings.
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Critical elements of methodology employed for all our studies include:
Data Collection:
To determine the appropriate methods of data collection based on the research objectives, we consider both primary and secondary sources. Primary data collection involves gathering information directly from various industry experts in core and related fields, original equipment manufacturers (OEMs), vendors, suppliers, technology developers, alliances, and organizations. These sources encompass all segments of the value chain within the specific industry. Through in-depth interviews, we engage with key industry participants, subject-matter experts, C-level executives of major market players, industry consultants, and other relevant experts. This allows us to obtain and validate critical qualitative and quantitative information while evaluating market prospects. AI and Big Data are instrumental in our primary research, providing us with powerful tools to collect, analyze, and derive insights from data efficiently. These technologies contribute to the advancement of research methodologies, enabling us to make data-driven decisions and uncover valuable findings.
In addition to primary sources, we extensively utilize secondary sources to enhance our research. These include directories, databases, journals focusing on related industries, company newsletters, and information portals such as Bloomberg, D&B Hoovers, and Factiva. These secondary sources enable us to identify and gather valuable information for our comprehensive, technical, market-oriented, and commercial study of the market. Additionally, we utilize AI algorithms to automate the collection of vast amounts of data from various sources such as surveys, social media platforms, online transactions, and web scraping. And employ Big Data technologies for storage and processing of large datasets, ensuring that no valuable information is missed during the data collection process.
Data Analysis:
Our team of experts carefully examine the gathered data using suitable statistical techniques and qualitative analysis methods. For quantitative analysis, we employ descriptive statistics, regression analysis, and other advanced statistical methods, depending on the characteristics of the data. This analysis may also incorporate the utilization of AI tools and big data analysis techniques to extract meaningful insights.
To ensure the accuracy and reliability of our findings, we extensively leverage data science techniques, which help us minimize discrepancies and uncertainties in our analysis. We employ Data Science to clean and preprocess the data, ensuring its quality and reliability. This involves handling missing data, removing outliers, standardizing variables, and transforming data into suitable formats for analysis. The application of data science techniques enhances our accuracy, efficiency, and depth of analysis, enabling us to stay competitive in dynamic market environments.
Market Size Estimation:
Our proprietary data tools play a crucial role in deriving our market estimates and forecasts. Each study involves the creation of a unique and customized model. The model incorporates the gathered information on market dynamics, technology landscape, application development, and pricing trends. AI techniques, such as machine learning and deep learning, aid us to analyze patterns within the data to identify correlations, trends, and relationships. By recognizing patterns in consumer behavior, purchasing habits, or market dynamics, our AI algorithms aid us in more precise estimations of market size. These factors are simultaneously analyzed within the model, allowing for a comprehensive assessment. To quantify their impact over the forecast period, correlation, regression, and time series analysis are employed.
To estimate and validate the market size, we employ both top-down and bottom-up approaches. The preference is given to a bottom-up approach, where key regional markets are analyzed as separate entities. This data is then integrated to obtain global estimates. This approach is crucial as it provides a deep understanding of the industry and helps minimize errors.
In our forecasting process, we consider various parameters such as economic tools, technological analysis, industry experience, and domain expertise. By taking all these factors into account, we strive to produce accurate and reliable market forecasts. When forecasting, we take into consideration several parameters, which include:
Market driving trends and favorable economic conditions
Restraints and challenges that are expected to be encountered during the forecast period.
Anticipated opportunities for growth and development
Technological advancements and projected developments in the market
Consumer spending trends and dynamics
Shifts in consumer preferences and behaviors.
The current state of raw materials and trends in supply versus pricing
Regulatory landscape and expected changes or developments.
The existing capacity in the market and any expected additions or expansions up to the end of the forecast period.
To assess the market impact of these parameters, we assign weights to each one and utilize weighted average analysis. This process allows us to quantify their influence on the market and derive an expected growth rate for the forecasted period. By considering these various factors and applying a weighted analysis approach, we strive to provide accurate and reliable market forecasts.
Insight Generation & Report Presentation:
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Next, we create a well-structured research report that effectively communicates the research findings, insights, and recommendations to the client. To enhance clarity and comprehension, we utilize visual aids such as charts, graphs, and tables. These visual elements are employed to present the data in an engaging and easily understandable format, ensuring that the information is accessible and visually appealing to the client. Our aim is to deliver a clear and concise report that conveys the research findings effectively and provides actionable recommendations to meet the client’s specific needs.

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