Market Overview:
The global Vehicle-to-Grid (V2G) market is expected to grow from USD 1.02 billion in 2018 to USD 3.92 billion by 2030, at a CAGR of 18.5% during the forecast period. The growth of the V2G market can be attributed to the increasing demand for peak power and energy storage solutions, rising concerns about climate change, and government initiatives for promoting renewable energy sources. Based on type, the V2G market is segmented into unidirectional V2G and bidirectional V2G. The unidirectional V2G segment is expected to hold a larger share of the market during the forecast period owing to its advantages such as lower cost and easy installation as compared to bidirectional systems. Based on application, the market is segmented into peak power sales, spinning reserves, base load power, peak power as a form of direct load control (DLC), reactive power compensation services,,and others including frequency regulation services and voltage support services). Peak Power Sales accounted for majority share in 2017 owing to increased demand for electricity during specific time periods in day or week known as peaks hours/days .
Product Definition:
Vehicle-to-grid (V2G) is a system that enables electric vehicles to send electricity back to the grid. This helps manage energy demand and can improve the reliability of the grid. Vehicle-to-grid also allows utilities to use electric vehicles as storage devices, which can help them better manage their energy resources.
Unidirectional V2G:
Unidirectional V2G is a technology that allows vehicles to communicate and share resources with electric grids. It helps in reducing the overall energy consumption of the vehicle-to-grid (V2G) system as it reduces or eliminates losses that are incurred during transmission.
The concept of unidirectional V2G was introduced by Cisco Systems, Inc., which is nowadays known as Verint Systems, in 2008 for electricity management.
Bidirectional V2G:
Bidirectional V2G (Vehicle to Grid) is a new term used for electricity generation through the vehicle when it is parked and its battery is charged by the electric grid. It helps in reducing carbon emission as less power needs to be generated from fossil fuels. In this process, the car battery acts as a generator which charges itself from an electric outlet and vice versa when the car engine is running.
Application Insights:
Based on the application, the global vehicle-to-grid market has been segmented into peak power sales, base load power, spinning reserves and peak power as a form of DLC. The base load power segment accounted for the largest share in 2017 owing to growing concerns over greenhouse gas emissions and air pollution. Moreover, increasing penetration of renewable energy sources such as solar and wind is expected to drive demand for V2G systems over the forecast period.
The reactive power application is projected to witness significant growth during the forecast period due to rising need for controlling rotating machines like turbines using direct current motors that operate at high speeds necessitating large batteries with long life spans.
Regional Analysis:
The global vehicle-to-grid market is expected to witness significant growth over the forecast period, owing to increasing penetration of electric vehicles in countries such as China and the U.S. Furthermore, growing awareness regarding grid integration and its benefits are projected to propel industry expansion over the next eight years.
North America accounted for a major share in 2017 owing to early adoption of V2G technology by regional players such as Tesla Motors Inc., Chevrolet Electric Vehicles (EVs), and Ford Motor Company. The North American region is characterized by high consumer awareness regarding grid integration along with technological advancements pertaining to vehicle-to-grid systems across all sectors including automotive, energy & power, transportation & logistics among others.
Europe was estimated at USD X million in 2017.
Growth Factors:
- Increasing demand for electric vehicles: The global market for electric vehicles is expected to grow at a CAGR of more than 14% from 2016 to 2020. This will create a larger base of potential customers for vehicle-to-grid technology.
- Government incentives and regulations: Governments around the world are promoting the use of electric vehicles through various incentives and regulations, such as tax breaks, subsidies, and mandates. This is creating a strong demand for vehicle-to-grid technology.
- Advances in battery technology: Battery technology is evolving rapidly, with new technologies such as solid state batteries becoming available commercially in the near future. This will improve the performance and reliability of vehicle-to-grid systems, further boosting adoption rates.
Scope Of The Report
Report Attributes
Report Details
Report Title
Vehicle-to-Grid Market Research Report
By Type
Unidirectional V2G, Bidirectional V2G
By Application
Peak Power Sales, Spinning Reserves, Base Load Power, Peak Power As A Form Of Direct Load Control (DLC), Peak Power To Reduce Demand Charges, Reactive Power
By Companies
AC Propulsion, Corinex, Coritech, EnBW, Endesa, EnerDel, EV Grid, Hitachi, Next Energy, NRG Energy, PG&E
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
238
Number of Tables & Figures
167
Customization Available
Yes, the report can be customized as per your need.
Global Vehicle-to-Grid Market Report Segments:
The global Vehicle-to-Grid market is segmented on the basis of:
Types
Unidirectional V2G, Bidirectional V2G
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
Peak Power Sales, Spinning Reserves, Base Load Power, Peak Power As A Form Of Direct Load Control (DLC), Peak Power To Reduce Demand Charges, Reactive Power
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
- Corinex
- Coritech
- EnBW
- Endesa
- EnerDel
- EV Grid
- Hitachi
- Next Energy
- NRG Energy
- PG&E
Highlights of The Vehicle-to-Grid 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:
- Unidirectional V2G
- Bidirectional V2G
- By Application:
- Peak Power Sales
- Spinning Reserves
- Base Load Power
- Peak Power As A Form Of Direct Load Control (DLC)
- Peak Power To Reduce Demand Charges
- Reactive Power
- 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 Vehicle-to-Grid 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.
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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-to-grid (V2G) is a term used to describe the ability of electric vehicles to generate electricity for their own use from the energy they capture from the grid.
Some of the key players operating in the vehicle-to-grid market are AC Propulsion, Corinex, Coritech, EnBW, Endesa, EnerDel, EV Grid, Hitachi, Next Energy, NRG Energy, PG&E.
The vehicle-to-grid market is expected to register a CAGR of 18.5%.
1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Vehicle-to-Grid Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Vehicle-to-Grid Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Vehicle-to-Grid Market - Supply Chain
4.5. Global Vehicle-to-Grid Market Forecast
4.5.1. Vehicle-to-Grid Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Vehicle-to-Grid Market Size (000 Units) and Y-o-Y Growth
4.5.3. Vehicle-to-Grid Market Absolute $ Opportunity
5. Global Vehicle-to-Grid Market Analysis and Forecast by Type
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Type
5.2.2. Y-o-Y Growth Projections by Type
5.3. Vehicle-to-Grid Market Size and Volume Forecast by Type
5.3.1. Unidirectional V2G
5.3.2. Bidirectional V2G
5.4. Absolute $ Opportunity Assessment by Type
5.5. Market Attractiveness/Growth Potential Analysis by Type
6. Global Vehicle-to-Grid Market Analysis and Forecast by Application
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Application
6.2.2. Y-o-Y Growth Projections by Application
6.3. Vehicle-to-Grid Market Size and Volume Forecast by Application
6.3.1. Peak Power Sales
6.3.2. Spinning Reserves
6.3.3. Base Load Power
6.3.4. Peak Power As A Form Of Direct Load Control (DLC)
6.3.5. Peak Power To Reduce Demand Charges
6.3.6. Reactive Power
6.4. Absolute $ Opportunity Assessment by Application
6.5. Market Attractiveness/Growth Potential Analysis by Application
7. Global Vehicle-to-Grid Market Analysis and Forecast by Sales Channel
7.1. Market Trends
7.2. Introduction
7.2.1. Basis Point Share (BPS) Analysis by Sales Channel
7.2.2. Y-o-Y Growth Projections by Sales Channel
7.3. Vehicle-to-Grid Market Size and Volume Forecast by Sales Channel
7.3.1. Manufacturer/Distributor/Service Provider
7.3.2. Aftermarket
7.4. Absolute $ Opportunity Assessment by Sales Channel
7.5. Market Attractiveness/Growth Potential Analysis by Sales Channel
8. Global Vehicle-to-Grid Market Analysis and Forecast by Region
8.1. Market Trends
8.2. Introduction
8.2.1. Basis Point Share (BPS) Analysis by Region
8.2.2. Y-o-Y Growth Projections by Region
8.3. Vehicle-to-Grid Market Size and Volume Forecast by Region
8.3.1. North America
8.3.2. Latin America
8.3.3. Europe
8.3.4. Asia Pacific
8.3.5. Middle East and Africa (MEA)
8.4. Absolute $ Opportunity Assessment by Region
8.5. Market Attractiveness/Growth Potential Analysis by Region
8.6. Global Vehicle-to-Grid Demand Share Forecast, 2019-2026
9. North America Vehicle-to-Grid Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.2. North America Vehicle-to-Grid Market Size and Volume Forecast by Country
9.2.1. U.S.
9.2.2. Canada
9.3. Absolute $ Opportunity Assessment by Country
9.4. North America Vehicle-to-Grid Market Size and Volume Forecast by Application
9.4.1. Peak Power Sales
9.4.2. Spinning Reserves
9.4.3. Base Load Power
9.4.4. Peak Power As A Form Of Direct Load Control (DLC)
9.4.5. Peak Power To Reduce Demand Charges
9.4.6. Reactive Power
9.5. Basis Point Share (BPS) Analysis by Application
9.6. Y-o-Y Growth Projections by Application
9.7. North America Vehicle-to-Grid Market Size and Volume Forecast by Type
9.7.1. Unidirectional V2G
9.7.2. Bidirectional V2G
9.8. Basis Point Share (BPS) Analysis by Type
9.9. Y-o-Y Growth Projections by Type
9.10. Market Attractiveness/Growth Potential Analysis
9.10.1. By Country
9.10.2. By Product Type
9.10.3. By Application
9.10.4. By Sales Channel
9.11. North America Vehicle-to-Grid Demand Share Forecast, 2019-2026
10. Latin America Vehicle-to-Grid Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Latin America Average Pricing Analysis
10.2. Latin America Vehicle-to-Grid Market Size and Volume Forecast by Country
10.2.1. Brazil
10.2.2. Mexico
10.2.3. Rest of Latin America
10.3. Absolute $ Opportunity Assessment by Country
10.4. Latin America Vehicle-to-Grid Market Size and Volume Forecast by Application
10.4.1. Peak Power Sales
10.4.2. Spinning Reserves
10.4.3. Base Load Power
10.4.4. Peak Power As A Form Of Direct Load Control (DLC)
10.4.5. Peak Power To Reduce Demand Charges
10.4.6. Reactive Power
10.5. Basis Point Share (BPS) Analysis by Application
10.6. Y-o-Y Growth Projections by Application
10.7. Latin America Vehicle-to-Grid Market Size and Volume Forecast by Type
10.7.1. Unidirectional V2G
10.7.2. Bidirectional V2G
10.8. Basis Point Share (BPS) Analysis by Type
10.9. Y-o-Y Growth Projections by Type
10.10. Market Attractiveness/Growth Potential Analysis
10.10.1. By Country
10.10.2. By Product Type
10.10.3. By Application
10.10.4. By Sales Channel
10.11. Latin America Vehicle-to-Grid Demand Share Forecast, 2019-2026
11. Europe Vehicle-to-Grid Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Europe Average Pricing Analysis
11.2. Europe Vehicle-to-Grid Market Size and Volume Forecast by Country
11.2.1. Germany
11.2.2. France
11.2.3. Italy
11.2.4. U.K.
11.2.5. Spain
11.2.6. Russia
11.2.7. Rest of Europe
11.3. Absolute $ Opportunity Assessment by Country
11.4. Europe Vehicle-to-Grid Market Size and Volume Forecast by Application
11.4.1. Peak Power Sales
11.4.2. Spinning Reserves
11.4.3. Base Load Power
11.4.4. Peak Power As A Form Of Direct Load Control (DLC)
11.4.5. Peak Power To Reduce Demand Charges
11.4.6. Reactive Power
11.5. Basis Point Share (BPS) Analysis by Application
11.6. Y-o-Y Growth Projections by Application
11.7. Europe Vehicle-to-Grid Market Size and Volume Forecast by Type
11.7.1. Unidirectional V2G
11.7.2. Bidirectional V2G
11.8. Basis Point Share (BPS) Analysis by Type
11.9. Y-o-Y Growth Projections by Type
11.10. Market Attractiveness/Growth Potential Analysis
11.10.1. By Country
11.10.2. By Product Type
11.10.3. By Application
11.10.4. By Sales Channel
11.11. Europe Vehicle-to-Grid Demand Share, 2019-2026
12. Asia Pacific Vehicle-to-Grid Market Analysis and Forecast
12.1. Introduction
12.1.1. Basis Point Share (BPS) Analysis by Country
12.1.2. Y-o-Y Growth Projections by Country
12.1.3. Asia Pacific Average Pricing Analysis
12.2. Asia Pacific Vehicle-to-Grid Market Size and Volume Forecast by Country
12.2.1. China
12.2.2. Japan
12.2.3. South Korea
12.2.4. India
12.2.5. Australia
12.2.6. Rest of Asia Pacific (APAC)
12.3. Absolute $ Opportunity Assessment by Country
12.4. Asia Pacific Vehicle-to-Grid Market Size and Volume Forecast by Application
12.4.1. Peak Power Sales
12.4.2. Spinning Reserves
12.4.3. Base Load Power
12.4.4. Peak Power As A Form Of Direct Load Control (DLC)
12.4.5. Peak Power To Reduce Demand Charges
12.4.6. Reactive Power
12.5. Basis Point Share (BPS) Analysis by Application
12.6. Y-o-Y Growth Projections by Application
12.7. Asia Pacific Vehicle-to-Grid Market Size and Volume Forecast by Type
12.7.1. Unidirectional V2G
12.7.2. Bidirectional V2G
12.8. Basis Point Share (BPS) Analysis by Type
12.9. Y-o-Y Growth Projections by Type
12.10. Market Attractiveness/Growth Potential Analysis
12.10.1. By Country
12.10.2. By Product Type
12.10.3. By Application
12.10.4. By Sales Channel
12.11. Asia Pacific Vehicle-to-Grid Demand Share, 2019-2026
13. Middle East & Africa Vehicle-to-Grid Market Analysis and Forecast
13.1. Introduction
13.1.1. Basis Point Share (BPS) Analysis by Country
13.1.2. Y-o-Y Growth Projections by Country
13.1.3. Asia Pacific Average Pricing Analysis
13.2. Middle East & Africa Vehicle-to-Grid Market Size and Volume 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. Absolute $ Opportunity Assessment by Country
13.4. Middle East & Africa Vehicle-to-Grid Market Size and Volume Forecast by Application
13.4.1. Peak Power Sales
13.4.2. Spinning Reserves
13.4.3. Base Load Power
13.4.4. Peak Power As A Form Of Direct Load Control (DLC)
13.4.5. Peak Power To Reduce Demand Charges
13.4.6. Reactive Power
13.5. Basis Point Share (BPS) Analysis by Application
13.6. Y-o-Y Growth Projections by Application
13.7. Middle East & Africa Vehicle-to-Grid Market Size and Volume Forecast by Type
13.7.1. Unidirectional V2G
13.7.2. Bidirectional V2G
13.8. Basis Point Share (BPS) Analysis by Type
13.9. Y-o-Y Growth Projections by Type
13.10. Market Attractiveness/Growth Potential Analysis
13.10.1. By Country
13.10.2. By Product Type
13.10.3. By Application
13.10.4. By Sales Channel
13.11. Middle East & Africa Vehicle-to-Grid Demand Share, 2019-2026
14. Competition Landscape
14.1. Global Vehicle-to-Grid Market: Market Share Analysis
14.2. Vehicle-to-Grid Distributors and Customers
14.3. Vehicle-to-Grid Market: Competitive Dashboard
14.4. Company Profiles (Details Overview, Financials, Developments, Strategy)
14.4.1. AC Propulsion
14.4.1.1. Overview
14.4.1.2. Financials
14.4.1.3. Developments
14.4.1.4. Strategic Outlook
14.4.2. Corinex
14.4.2.1. Overview
14.4.2.2. Financials
14.4.2.3. Developments
14.4.2.4. Strategic Outlook
14.4.3. Coritech
14.4.3.1. Overview
14.4.3.2. Financials
14.4.3.3. Developments
14.4.3.4. Strategic Outlook
14.4.4. EnBW
14.4.4.1. Overview
14.4.4.2. Financials
14.4.4.3. Developments
14.4.4.4. Strategic Outlook
14.4.5. Endesa
14.4.5.1. Overview
14.4.5.2. Financials
14.4.5.3. Developments
14.4.5.4. Strategic Outlook
14.4.6. EnerDel
14.4.6.1. Overview
14.4.6.2. Financials
14.4.6.3. Developments
14.4.6.4. Strategic Outlook
14.4.7. EV Grid
14.4.7.1. Overview
14.4.7.2. Financials
14.4.7.3. Developments
14.4.7.4. Strategic Outlook
14.4.8. Hitachi
14.4.8.1. Overview
14.4.8.2. Financials
14.4.8.3. Developments
14.4.8.4. Strategic Outlook
14.4.9. Next Energy
14.4.9.1. Overview
14.4.9.2. Financials
14.4.9.3. Developments
14.4.9.4. Strategic Outlook
14.4.10. NRG Energy
14.4.10.1. Overview
14.4.10.2. Financials
14.4.10.3. Developments
14.4.10.4. Strategic Outlook
14.4.11. PG&E
14.4.11.1. Overview
14.4.11.2. Financials
14.4.11.3. Developments
14.4.11.4. Strategic Outlook
14.4.12. COMPANY 12
14.4.12.1. Overview
14.4.12.2. Financials
14.4.12.3. Developments
14.4.12.4. Strategic Outlook
14.4.13. COMPANY 13
14.4.13.1. Overview
14.4.13.2. Financials
14.4.13.3. Developments
14.4.13.4. Strategic Outlook
14.4.14. COMPANY 14
14.4.14.1. Overview
14.4.14.2. Financials
14.4.14.3. Developments
14.4.14.4. Strategic Outlook
14.4.15. COMPANY 15
14.4.15.1. Overview
14.4.15.2. Financials
14.4.15.3. Developments
14.4.15.4. Strategic Outlook
14.4.16. COMPANY 16
14.4.16.1. Overview
14.4.16.2. Financials
14.4.16.3. Developments
14.4.16.4. Strategic Outlook
14.4.17. COMPANY 17
14.4.17.1. Overview
14.4.17.2. Financials
14.4.17.3. Developments
14.4.17.4. Strategic Outlook
14.4.18. COMPANY 18
14.4.18.1. Overview
14.4.18.2. Financials
14.4.18.3. Developments
14.4.18.4. Strategic Outlook
14.4.19. COMPANY 19
14.4.19.1. Overview
14.4.19.2. Financials
14.4.19.3. Developments
14.4.19.4. Strategic Outlook
14.4.20. COMPANY 20
14.4.20.1. Overview
14.4.20.2. Financials
14.4.20.3. Developments
14.4.20.4. Strategic Outlook