Product Code: SR1020G75_Report
The global vehicle-to-grid market grew at a CAGR of around 15% during 2015-2020. Vehicle-to-Grid (V2G) refers to an advanced smart charging technology that transfers energy from the battery of an electric vehicle (EV) to the power grid or vice-versa. The V2G technology involves drawing unused power from the battery and transferring it to the smart grid for providing electricity during peak hours or power failures. It also acts as an additional or secondary source of power when weather-dependent renewable energy resources are not available. It is also a sustainable and cost-effective source of energy with zero-carbon emissions and can be used with plug-in EVs, battery EVs and plug-in hybrid or hydrogen cell EVs.
The increasing utilization of smart power generation systems and the widespread adoption of autonomous vehicles, represent as the key factors driving the growth of the market. In comparison to the conventionally used internal combustion automobiles, hybrid and electric vehicles (H/EVs) operate more efficiently and have minimal fuel consumption. As a result, with the rising deployment of bidirectional charging stations, consumers can conveniently charge their vehicles and store excess energy for powering the grid. Additionally, extensive innovations in the manufacturing processes of automobile batteries, is acting as another growth-inducing factor. Novel automobile batteries have a longer operational life and can sustain multiple charging cycles without deteriorating. Moreover, the advent of vehicle-to-everything (V2X) technology as an extension to V2G with a smaller size, lighter weight and simpler installation process, is also contributing to the market growth. Other factors, including extensive infrastructural developments, along with the implementation of favorable government policies promoting smart grid projects, are anticipated to drive the market further. Looking forward, IMARC Group expects the global vehicle-to-grid market to exhibit strong growth during the next five years.
Key Market Segmentation:
- IMARC Group provides an analysis of the key trends in each sub-segment of the global vehicle-to-grid market, along with forecasts at the global, regional and country level from 2021-2026. Our report has categorized the market based on region, solution type, vehicle type, charging type and application.
Breakup by Solution Type:
- Electric Vehicle Supply Equipment (EVSE)
- Smart Meters
- Home Energy Management (HEM) Systems
- Software Solutions
Breakup by Vehicle Type:
- Battery Electric Vehicle (BEV)
- Fuel Cell Electric Vehicle (FCEV)
- Plug-In Hybrid Electric Vehicle (PHEV)
Breakup by Charging Type:
- Unidirectional Charging
- Bidirectional Charging
Breakup by Application:
- Peak Power Sales
- Spinning Reserves
- Base Load Power
- Others
Breakup by Region:
- North America
- United States
- Canada
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
Competitive Landscape:
- The competitive landscape of the industry has also been examined along with the profiles of the key players being AC Propulsion Inc., Coritech Services Inc., DENSO Corporation, Enerdel Inc., ENGIE Group, EV Grid, Hitachi Ltd., Nissan Motor Company Ltd., NRG Energy Inc. and OVO Energy Ltd.
Key Questions Answered in This Report:
- How has the global vehicle-to-grid market performed so far and how will it perform in the coming years?
- What has been the impact of COVID-19 on the global vehicle-to-grid market?
- What are the key regional markets?
- What is the breakup of the market based on the solution type?
- What is the breakup of the market based on the vehicle type?
- What is the breakup of the market based on the charging type?
- What is the breakup of the market based on the application?
- What are the various stages in the value chain of the industry?
- What are the key driving factors and challenges in the industry?
- What is the structure of the global vehicle-to-grid market and who are the key players?
- What is the degree of competition in the industry?
Table of Contents
1 Preface
2 Scope and Methodology
- 2.1 Objectives of the Study
- 2.2 Stakeholders
- 2.3 Data Sources
- 2.3.1 Primary Sources
- 2.3.2 Secondary Sources
- 2.4 Market Estimation
- 2.4.1 Bottom-Up Approach
- 2.4.2 Top-Down Approach
- 2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
- 4.1 Overview
- 4.2 Key Industry Trends
5 Global Vehicle-to-Grid Market
- 5.1 Market Overview
- 5.2 Market Performance
- 5.3 Impact of COVID-19
- 5.4 Market Forecast
6 Market Breakup by Solution Type
- 6.1 Electric Vehicle Supply Equipment (EVSE)
- 6.1.1 Market Trends
- 6.1.2 Market Forecast
- 6.2 Smart Meters
- 6.2.1 Market Trends
- 6.2.2 Market Forecast
- 6.3 Home Energy Management (HEM) Systems
- 6.3.1 Market Trends
- 6.3.2 Market Forecast
- 6.4 Software Solutions
- 6.4.1 Market Trends
- 6.4.2 Market Forecast
7 Market Breakup by Vehicle Type
- 7.1 Battery Electric Vehicle (BEV)
- 7.1.1 Market Trends
- 7.1.2 Market Forecast
- 7.2 Fuel Cell Electric Vehicle (FCEV)
- 7.2.1 Market Trends
- 7.2.2 Market Forecast
- 7.3 Plug-In Hybrid Electric Vehicle (PHEV)
- 7.3.1 Market Trends
- 7.3.2 Market Forecast
8 Market Breakup by Charging Type
- 8.1 Unidirectional Charging
- 8.1.1 Market Trends
- 8.1.2 Market Forecast
- 8.2 Bidirectional Charging
- 8.2.1 Market Trends
- 8.2.2 Market Forecast
9 Market Breakup by Application
- 9.1 Peak Power Sales
- 9.1.1 Market Trends
- 9.1.2 Market Forecast
- 9.2 Spinning Reserves
- 9.2.1 Market Trends
- 9.2.2 Market Forecast
- 9.3 Base Load Power
- 9.3.1 Market Trends
- 9.3.2 Market Forecast
- 9.4 Others
- 9.4.1 Market Trends
- 9.4.2 Market Forecast
10 Market Breakup by Region
- 10.1 North America
- 10.1.1 United States
- 10.1.1.1 Market Trends
- 10.1.1.2 Market Forecast
- 10.1.2 Canada
- 10.1.2.1 Market Trends
- 10.1.2.2 Market Forecast
- 10.2 Asia-Pacific
- 10.2.1 China
- 10.2.1.1 Market Trends
- 10.2.1.2 Market Forecast
- 10.2.2 Japan
- 10.2.2.1 Market Trends
- 10.2.2.2 Market Forecast
- 10.2.3 India
- 10.2.3.1 Market Trends
- 10.2.3.2 Market Forecast
- 10.2.4 South Korea
- 10.2.4.1 Market Trends
- 10.2.4.2 Market Forecast
- 10.2.5 Australia
- 10.2.5.1 Market Trends
- 10.2.5.2 Market Forecast
- 10.2.6 Indonesia
- 10.2.6.1 Market Trends
- 10.2.6.2 Market Forecast
- 10.2.7 Others
- 10.2.7.1 Market Trends
- 10.2.7.2 Market Forecast
- 10.3 Europe
- 10.3.1 Germany
- 10.3.1.1 Market Trends
- 10.3.1.2 Market Forecast
- 10.3.2 France
- 10.3.2.1 Market Trends
- 10.3.2.2 Market Forecast
- 10.3.3 United Kingdom
- 10.3.3.1 Market Trends
- 10.3.3.2 Market Forecast
- 10.3.4 Italy
- 10.3.4.1 Market Trends
- 10.3.4.2 Market Forecast
- 10.3.5 Spain
- 10.3.5.1 Market Trends
- 10.3.5.2 Market Forecast
- 10.3.6 Russia
- 10.3.6.1 Market Trends
- 10.3.6.2 Market Forecast
- 10.3.7 Others
- 10.3.7.1 Market Trends
- 10.3.7.2 Market Forecast
- 10.4 Latin America
- 10.4.1 Brazil
- 10.4.1.1 Market Trends
- 10.4.1.2 Market Forecast
- 10.4.2 Mexico
- 10.4.2.1 Market Trends
- 10.4.2.2 Market Forecast
- 10.4.3 Others
- 10.4.3.1 Market Trends
- 10.4.3.2 Market Forecast
- 10.5 Middle East and Africa
- 10.5.1 Market Trends
- 10.5.2 Market Breakup by Country
- 10.5.3 Market Forecast
11 SWOT Analysis
- 11.1 Overview
- 11.2 Strengths
- 11.3 Weaknesses
- 11.4 Opportunities
- 11.5 Threats
12 Value Chain Analysis
13 Porters Five Forces Analysis
- 13.1 Overview
- 13.2 Bargaining Power of Buyers
- 13.3 Bargaining Power of Suppliers
- 13.4 Degree of Competition
- 13.5 Threat of New Entrants
- 13.6 Threat of Substitutes
14 Price Analysis
15 Competitive Landscape
- 15.1 Market Structure
- 15.2 Key Players
- 15.3 Profiles of Key Players
- 15.3.1 AC Propulsion Inc.
- 15.3.1.1 Company Overview
- 15.3.1.2 Product Portfolio
- 15.3.2 Coritech Services Inc.
- 15.3.2.1 Company Overview
- 15.3.2.2 Product Portfolio
- 15.3.3 DENSO Corporation
- 15.3.3.1 Company Overview
- 15.3.3.2 Product Portfolio
- 15.3.3.3 Financials
- 15.3.3.4 SWOT Analysis
- 15.3.4 Enerdel Inc.
- 15.3.4.1 Company Overview
- 15.3.4.2 Product Portfolio
- 15.3.5 ENGIE Group
- 15.3.5.1 Company Overview
- 15.3.5.2 Product Portfolio
- 15.3.5.3 Financials
- 15.3.5.4 SWOT Analysis
- 15.3.6 EV Grid
- 15.3.6.1 Company Overview
- 15.3.6.2 Product Portfolio
- 15.3.7 Hitachi Ltd.
- 15.3.7.1 Company Overview
- 15.3.7.2 Product Portfolio
- 15.3.7.3 Financials
- 15.3.7.4 SWOT Analysis
- 15.3.8 Nissan Motor Company Ltd.
- 15.3.8.1 Company Overview
- 15.3.8.2 Product Portfolio
- 15.3.8.3 Financials
- 15.3.8.4 SWOT Analysis
- 15.3.9 NRG Energy Inc.
- 15.3.9.1 Company Overview
- 15.3.9.2 Product Portfolio
- 15.3.9.3 Financials
- 15.3.9.4 SWOT Analysis
- 15.3.10 OVO Energy Ltd.
- 15.3.10.1 Company Overview
- 15.3.10.2 Product Portfolio
- 15.3.10.3 Financials