The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The increasing usage of electric vehicles is likely to stimulate innovation in the production of vehicle-to-grid technology, propelling the market over the forecast period.

The global vehicle-to-grid technology market is expected to grow from $2.70 billion in 2022 to $3.37 billion in 2023 at a compound annual growth rate (CAGR) of 24.8%. The global vehicle-to-grid technology market size is expected to reach $7.80 billion in 2027 at a CAGR of 23.4%.

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Global Vehicle-To-Grid Technology Market Segments Include:

• By Component: Electric Vehicle Supply Equipment (EVSE), Home Energy Management (HEM) System, Smart Meters, Software Solutions
• By Charging Type: Unidirectional Charging, Bidirectional Charging
• By Vehicle Type: Battery Electric Vehicle (BEV), Plug-In Hybrid Electric Vehicle (PHEV), Fuel Cell Electric Vehicle (FCEV)
• By Application: Reactive Power, Baseload Power, Spinning Reserves, Peak Power Sales, Other Applications
• By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, North America is the largest region in the global vehicle-to-grid technology market in 2021.

Major Market Players in the vehicle-to-grid technology market include Nissan Motor Co. Ltd., Mitsubishi Motors Corporation, NUVVE Holding Corp., OVO Energy Ltd., Engie SA, Groupe Renault, Honda Motor Co. Ltd., DENSO Corporation., EnerDel Inc.

Technological progress is a crucial trend that is gaining traction in the vehicle-to-grid technology sector. Major players in the vehicle-to-grid technology industry are focusing on providing unique solutions to increase their market position. For example, Nissan Motor Corporation, a Japanese automaker, will launch vehicle-to-grid charging technology at Realising Electric Vehicles Services (REVS) in the Australian Capital Territory (ACT) in July 2020. The Nissan LEAF is the only battery electric vehicle with full bi-directional charging capacity and a transportable energy solution. V2G technology transforms the Nissan LEAF into a complete energy solution, allowing the batteries to power a home or commercial site while also feeding power back to the grid.

The Vehicle-To-Grid Technology Global Market Report 2023  provides a vehicle-to-grid technology market overview for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The vehicle-to-grid technology market forecast analyzes vehicle-to-grid technology market size, vehicle-to-grid technology market share, leading competitor market positions. The regions covered in the report include Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa and the countries include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Vehicle-to-grid technology is a smart charging mechanism that allows automobile batteries to recharge the power grid. It enables electric vehicles to transfer unused battery capacity to the grid, bridging gaps in renewable energy generation ratios.

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