Market Overview:
The global VGI/V2G/GIV/vehicle grid integration market is expected to grow at a CAGR of XX% during the forecast period from 2018 to 2030. The growth in this market can be attributed to the increasing demand for electric vehicles and the need for energy storage solutions. The global VGI/V2G/GIV/vehicle grid integration market can be segmented on the basis of type, application, and region. On the basis of type, the market can be divided into drive system technology, software and communication technology, and equipment. The drive system technology segment is expected to dominate the global VGI/V2G/ GIV /vehicle grid integration market duringthe forecast period owingto its growing demand for electric vehicles.
Product Definition:
Vehicle grid integration (VGI), vehicle-to-grid (V2G), and grid-integrated vehicles (GIV) are all terms for the same concept: a vehicle that can connect to, and interact with, the electrical grid. There are many potential applications for VGI/V2G/GIV technology, but the most common use case is using vehicles as mobile energy storage devices. When a car or truck is plugged into the grid, it can store energy from the grid when demand is low and release that energy back to the grid when demand is high. This helps balance out electrical load on the power network and can help reduce costs for utilities. Vehicle grids can also provide other services such as frequency regulation and voltage support.
Drive System Technology:
The drive system technology is a key component in the development of smart grids, virtual/ghost roads, vehicle-to-grid (V2G), and fuel cell technologies. The growth factor for these technologies has been the increasing penetration of electric vehicles across the globe. Electric vehicles are powered using rechargeable battery packs and have no internal combustion engine; instead they rely on an electric motor for propulsion.
Software And Communication Technology:
Software and communication technology (SCT) is the part of IT infrastructure that enables effective data sharing, seamless information flow between different systems/platforms, and efficient processing of information. It also helps in enhancing business operations through automation & streamlining processes. SCT includes network software such as operating system (OS), middleware, mobile computing technologies such as Bluetooth, Wi-Fi and vehicle to everything (V2X) which covers a lot of applications from manufacturing to transportation industry.
Application Insights:
The private vehicle application segment accounted for the largest revenue share of over 60% in 2017. The growth can be attributed to the growing demand for electric vehicles, especially in developed regions such as North America and Europe. Furthermore, introduction of advanced software and communication technologies has led to improved performance and efficiency of VGI systems in private vehicles.
The commercial vehicle application segment is expected to witness significant growth over the forecast period owing to increasing adoption of V2G technology across heavy-duty commercial vehicles operating on long-distance routes.
Regional Analysis:
The North American regional market dominated the global industry in terms of revenue share in 2016 and is expected to continue its dominance over the forecast period. The growth can be attributed to increasing investments by governments for implementation of VGI technologies for reducing carbon footprint, supporting sustainable transportation, and enhancing traffic management. Moreover, presence of key players such as Tesla Motors Inc., Ford Motor Company, General Motors Company; along with technological advancements such as wireless connectivity are anticipated to drive demand over the next eight years.
Asia Pacific region is projected to witness significant growth during the forecast period owing to rising government initiatives pertaining towards adoption of V2G technology coupled with growing awareness among consumers regarding benefits offered by these systems including reduction in fuel consumption and emission control standards set by various regulatory bodies such as EPA (U.S.), CARB (China), JASO (Japan) & CAFE Standards (Europe).
Growth Factors:
- Increasing demand for electric vehicles: The global market for electric vehicles is expected to grow at a CAGR of more than 20% during the forecast period. This will lead to an increase in the demand for vehicle grid integration solutions.
- Government initiatives and regulations: Governments around the world are promoting the use of electric vehicles through various initiatives and regulations. This is expected to drive the growth of the VGI/V2G/GIV/vehicle grid integration market during the forecast period.
- Development of smart grids: The development of smart grids is expected to create opportunities for VGI/V2G/GIV providers in terms of integrating their solutions with these grids.
- Growing popularity of renewable energy sources: Renewable energy sources are becoming increasingly popular due to their environmental benefits and cost-effectiveness, which is likely to drive demand for VGI/V2G/GIV solutions in the coming years.
Scope Of The Report
Report Attributes
Report Details
Report Title
VGI/V2G/GIV/Vehicle Grid Integration Market Research Report
By Type
Drive System Technology, Software And Communication Technology, Equipment
By Application
Private Vehicle, Commcial Vehicle
By Companies
AC Propulsion, Coritech Services, Denso, Hitachi, Autoport, BMW, Daimler, Ford Motor, Honda, Kisensum, Mitsubishi Motors, Nissan, Tesla Motors
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
237
Number of Tables & Figures
166
Customization Available
Yes, the report can be customized as per your need.
Global VGI/V2G/GIV/Vehicle Grid Integration Market Report Segments:
The global VGI/V2G/GIV/Vehicle Grid Integration market is segmented on the basis of:
Types
Drive System Technology, Software And Communication Technology, Equipment
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Private Vehicle, Commcial Vehicle
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- AC Propulsion
- Coritech Services
- Denso
- Hitachi
- Autoport
- BMW
- Daimler
- Ford Motor
- Honda
- Kisensum
- Mitsubishi Motors
- Nissan
- Tesla Motors
Highlights of The VGI/V2G/GIV/Vehicle Grid Integration Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Drive System Technology
- Software And Communication Technology
- Equipment
- By Application:
- Private Vehicle
- Commcial Vehicle
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the VGI/V2G/GIV/Vehicle Grid Integration Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
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- Understanding Competition Scenario
- Product & Brand Management
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Vehicle Grid Integration (VGI) is a technology that allows electric vehicles to share energy with other vehicles on the grid. This can help reduce emissions and improve overall efficiency. VGI can also help increase the number of electric vehicle charging stations available, making it easier for drivers to get their cars charged up.
Some of the key players operating in the vgi/v2g/giv/vehicle grid integration market are AC Propulsion, Coritech Services, Denso, Hitachi, Autoport, BMW, Daimler, Ford Motor, Honda, Kisensum, Mitsubishi Motors, Nissan, Tesla Motors.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 VGI/V2G/GIV/Vehicle Grid Integration Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 VGI/V2G/GIV/Vehicle Grid Integration Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 VGI/V2G/GIV/Vehicle Grid Integration Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the VGI/V2G/GIV/Vehicle Grid Integration Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global VGI/V2G/GIV/Vehicle Grid Integration Market Size & Forecast, 2020-2028
4.5.1 VGI/V2G/GIV/Vehicle Grid Integration Market Size and Y-o-Y Growth
4.5.2 VGI/V2G/GIV/Vehicle Grid Integration Market Absolute $ Opportunity
Chapter 5 Global Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Market Size Forecast by Type
5.2.1 Drive System Technology
5.2.2 Software And Communication Technology
5.2.3 Equipment
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Market Size Forecast by Applications
6.2.1 Private Vehicle
6.2.2 Commcial Vehicle
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global VGI/V2G/GIV/Vehicle Grid Integration Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 VGI/V2G/GIV/Vehicle Grid Integration Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Analysis and Forecast
9.1 Introduction
9.2 North America Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Market Size Forecast by Type
9.6.1 Drive System Technology
9.6.2 Software And Communication Technology
9.6.3 Equipment
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Market Size Forecast by Applications
9.10.1 Private Vehicle
9.10.2 Commcial Vehicle
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Analysis and Forecast
10.1 Introduction
10.2 Europe Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Market Size Forecast by Type
10.6.1 Drive System Technology
10.6.2 Software And Communication Technology
10.6.3 Equipment
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Market Size Forecast by Applications
10.10.1 Private Vehicle
10.10.2 Commcial Vehicle
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Market Size Forecast by Type
11.6.1 Drive System Technology
11.6.2 Software And Communication Technology
11.6.3 Equipment
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Market Size Forecast by Applications
11.10.1 Private Vehicle
11.10.2 Commcial Vehicle
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Analysis and Forecast
12.1 Introduction
12.2 Latin America Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Market Size Forecast by Type
12.6.1 Drive System Technology
12.6.2 Software And Communication Technology
12.6.3 Equipment
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Market Size Forecast by Applications
12.10.1 Private Vehicle
12.10.2 Commcial Vehicle
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Market Size Forecast by Type
13.6.1 Drive System Technology
13.6.2 Software And Communication Technology
13.6.3 Equipment
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Market Size Forecast by Applications
13.10.1 Private Vehicle
13.10.2 Commcial Vehicle
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 VGI/V2G/GIV/Vehicle Grid Integration Market: Competitive Dashboard
14.2 Global VGI/V2G/GIV/Vehicle Grid Integration Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 AC Propulsion
14.3.2 Coritech Services
14.3.3 Denso
14.3.4 Hitachi
14.3.5 Autoport
14.3.6 BMW
14.3.7 Daimler
14.3.8 Ford Motor
14.3.9 Honda
14.3.10 Kisensum
14.3.11 Mitsubishi Motors
14.3.12 Nissan
14.3.13 Tesla Motors
