The V2G Revolution: How Electric Vehicles are Powering our Future

𝐊𝐞𝐲 𝐅𝐢𝐧𝐝𝐢𝐧𝐠𝐬 𝐎𝐟 𝐓𝐡𝐞 𝐒𝐭𝐮𝐝𝐲

1️⃣By technology, the power management segment is expected to register a significant growth during the forecast period.
2️⃣By charging type, the bidirectional charging segment is projected to lead the global vehicle-to-grid (V2G) market.
3️⃣By vehicle type, the battery electric vehicles segment is projected to lead the global vehicle-to-grid (V2G) market.
4️⃣By component, the home energy management (HEM) segment is projected to lead the global vehicle-to-grid (V2G) market.
5️⃣Region-wise, Europe is anticipated to register the highest CAGR during the forecast period.

𝐓𝐡𝐞 𝐤𝐞𝐲 𝐩𝐥𝐚𝐲𝐞𝐫𝐬 𝐭𝐡𝐚𝐭 𝐨𝐩𝐞𝐫𝐚𝐭𝐞 𝐢𝐧 𝐭𝐡𝐢𝐬 𝐯𝐞𝐡𝐢𝐜𝐥𝐞-𝐭𝐨-𝐠𝐫𝐢𝐝 (𝐕2𝐆) 𝐦𝐚𝐫𝐤𝐞𝐭 𝐚𝐫𝐞 ABB, AC Propulsion, Inc., Boulder Electric Vehicle, Denso Corporation, Edison International, EnerDel, Inc., EV Grid, Inc., Fermata Energy, Hitachi, Ltd, Honda Motor Co., Ltd., Indra, Nissan Motor Corporation, NRG Energy, Inc., Nuvve Holding Corp., OVO Energy Ltd., Toyota Industries Corporation, and Wallbox Inc.

According to a new report published by Allied Market Research, titled, "Vehicle-To-Grid (V2G) Market," The vehicle-to-grid (V2G) market was valued at $1.72 billion in 2021, and is estimated to reach $15.03 billion by 2031, growing at a CAGR of 25.3% from 2022 to 2031.

⏭𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬-https://www.alliedmarketresearch.com/request-sample/8811

Europe dominated the market in terms of revenue, followed by North America, Asia-Pacific and LAMEA. China dominated the vehicle-to-grid (V2G) market in 2021, whereas India is expected to grow at a significant rate during the forecast period. The rapid growth of the electric vehicle charging infrastructure along with government subsidies and incentives related to electric vehicle fuels the growth of the V2G market across the globe.

There are prominent key factors that drive the growth of the vehicle-to-grid (V2G) market include increase in demand for electric vehicles, and government initiatives for development of electric vehicle charging infrastructure. The market economy is also responsible for the growth of the market. Countries such as China, India, Brazil, and South Africa are growing economies. Thus, the automotive sector witnessed prominent growth in these countries, which is expected to provide lucrative opportunities for the growth of the electric vehicle industry which in turn is expected fuel the growth of the market. Moreover, in some undeveloped countries, there is an increase in the investment in electric vehicle infrastructure, which is expected to boost the growth of the market.

The vehicle-to-grid (V2G) market is segmented on the basis of technology, charging type, vehicle type, component, and region. By technology, it is bifurcated into power management, and software. By charging type, it is fragmented into unidirectional charging, and bidirectional charging. By vehicle type, it is divided into battery electric vehicles, plug in hybrid electric vehicles, and fuel cell vehicles (FCVs). By component, it is classified into integrated electric vehicle supply equipment (EVSE), smart meters, home energy management (HEM), and others. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

⏭𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐂𝐨𝐦𝐩𝐥𝐞𝐭𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭- https://www.alliedmarketresearch.com/vehicle-to-grid-v2g-market/purchase-options

𝐂𝐎𝐕𝐈𝐃-19 𝐈𝐦𝐩𝐚𝐜𝐭 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬

◾The COVID-19 pandemic has significantly disrupted the global economic activity, including the automotive market and the electric vehicle industry on a global level. The pandemic led to considerable drop in automotive sales, insufficiency of raw material, and others. Pandemic-related issues are aggravating port congestion, intermittent closures, and supplier delays.
◾As a result of interrupted supply chains and production schedules caused by the COVID-19 pandemic, automotive production and sales suffered severely, which, in turn, negatively impacted the vehicle-to-grid (V2G) market in 2020.
◾Moreover, COVID-19 outbreak has resulted in disruptions for automotive industry in terms of manufacturing. The majority of OEMs have shut down their production and other essential operations during the pandemic. For instance, global EV sales decreased by 18% in 2020.
Moreover, some countries such as Canada, Japan and others witnessed drop in the figures as both the demand for new vehicles and their production was impacted severely.
◾This impacted the revenue streams allocated towards the R&D and adoption of new technologies like vehicle-to-grid (V2G). However, the pandemic's impact on the automotive industry with the growing vaccination numbers globally, is expected to come down gradually over the span of a couple of years. With the pandemic situation easing out, the automotive manufacture connected work business is expected to rebound back rapidly.
◾However, many countries, such as Germany, UK, Japan, the U.S., and most recently, New Zealand have joined the Electrical Vehicle Initiative (EVI). It is a multi-government policy opportunity dedicated to accelerating the introduction and adoption of electric vehicles and EV infrastructure. These developments are expected to fuel the vehicle-to-grid (V2G) market.

𝐂𝐨𝐧𝐭𝐚𝐜𝐭:

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About Us
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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