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Vehicle-to-Grid technology market reaches US$12.75

WILMINGTON, Delaware, USA, August 4, 2022 (GLOBE NEWSWIRE) — Transparency Market Research Co., Ltd. – A study of the vehicle-to-grid technology market found that V2G technology can effectively utilize battery technology in electric vehicles. With this, V2G service providers are witnessing huge revenue potential. Increasing sales of electric and hybrid vehicles and the deployment of renewable energy sources in multiple applications are reinforcing the increasing market size of vehicle-to-grid technology. The global market estimated that in 2021 he will be worth US$2.78 billion.

An in-depth analysis of the market status and challenges of vehicle-to-grid technology reveals that V2G technology is still in its early stages and the infrastructure needed to enable the use of V2G-enabled vehicles needs to be strengthened. I was. Notably, stakeholders are likely to avoid technology integration challenges. Additionally, vehicle-to-grid technology market players are spending heavily on turbo charging stations for EVs.

Analysts have observed that UK vehicle-to-grid technology is investing heavily in electric mobility and smart energy management. Notably, V2G is expected to play a key role in reducing energy system instability. Additionally, across Europe, the economy is expected to witness an increase in research and development of electric vehicle charging stations.

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Vehicle-to-Grid Technology Market Key Findings study

  • Adoption of renewable energy sources to drive adoption: The increasing trend of zero-emission vehicles will help decarbonize the transport sector. The adoption of renewable energy to power such vehicles has received a great deal of attention among industry players. A study of the market size of vehicle-to-grid technology found that the technology shows potential to balance and store energy storage in the energy system. Of note, the growing application of vehicle-to-grid technologies to balance power demand is likely, thereby opening a lucrative path for players in the vehicle-to-grid technology market. That’s it.
  • Increase in V2G compatible vehicles Wider roads: Increased spending on vehicle charging stations broadens the horizons of stakeholders in the vehicle-to-grid technology market. In fact, the V2G-enabled car maker aims to unlock revenue by partnering with his EV charging platform maker in 2022. Increased use of electric vehicle supply equipment (EVSE) for V2G boosts revenue outlook.
  • Massive Demand for PHEVs for Energy Storage Presents Profitable Path: Multinational automakers are expected to generate steady revenue from growing demand for V2G-compatible EVs and hybrids. Of note, the EV segment has generated huge revenue, mainly due to the increase in EV ownership in recent years. Meanwhile, the use of his V2G technology in plug-in hybrid electric vehicles is expected to generate substantial revenue in the near future, a study on the vehicle-to-grid technology market reveals.

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Vehicle-to-Grid Technology Market: Key Drivers

  • The steady increase in the number of electric vehicles (EVs) and hybrid vehicles is a major driver of industry spending on vehicle-to-grid technology. Therefore, the adoption of these vehicles in the transportation sector is a major driver of the vehicle-to-grid technology market.
  • Vehicle-to-Grid companies are capitalizing on a growing opportunity against the backdrop of continued efforts in deploying renewable energy sources. Moreover, the increasing trend of using natural resources to power electric vehicles opens the door for players in the vehicle-to-grid technology market.

Vehicle-to-Grid Technology Market: Regional Growth Dynamics

North America accounted for a significant revenue share in the global vehicle-to-grid technology market in 2021. Prominent automakers and global automakers are launching more and more V2G-enabled vehicles, especially in the United States. size. A case in point is Mitsubishi Motors and Nissan launching his V2G-enabled vehicles in 2022. V2G solution providers are expected to reap significant revenues from the growing number of such vehicles.

Vehicle-to-Grid Technology Market: Major Players

Key players in the vehicle-to-grid technology market include EnerDel, Inc., OVO Energy Ltd., ENGIE Group, NUVVE Corporation, Denso Corporation, Groupe Renault, Honda Motor Co., Ltd., Hitachi Energy Ltd., Mitsubishi Motors , Nissan Motor.

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Vehicle-to-Grid Technology Market Segmentation

  • component
    • Electric Vehicle Supply Equipment (EVSE)
    • Home Energy Management (HEM)
    • smart meter
    • software
  • charging type
    • one way charging
    • Bi-directional charging
  • vehicle type
    • Battery electric vehicle (BEV)
    • Plug-in hybrid electric vehicle (PHEV)
    • Fuel cell vehicle (FCV)

area

  • North America
  • Europe
  • Asia Pacific
  • Middle East and Africa
  • South America

Country

  • we
  • Canada
  • Mexico
  • Germany
  • England
  • France
  • Spain
  • Italy
  • Russia and the CIS
  • China
  • India
  • Japan
  • ASEAN
  • Korea
  • Brazil
  • Argentina
  • GCC
  • South Africa

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