Vehicle-To-Grid (V2G) Market Soars to $2989 Million, Growing at an Impressive 82.9% CAGR | Growth, Trend, Share Analysis

CALIFORNIA, (UNITED STATES) - The global Vehicle-To-Grid (V2G) market was valued at US$ 38.9 million in 2023 and is anticipated to reach US$ 2989 million by 2030, witnessing a CAGR of 82.9% during the forecast period 2024-2030.

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Vehicle-to-grid, or V2G technology, is defined as a system that is capable of controlling the bidirectional flow of electricity between the vehicle and the grid. Electricity flows from the grid to the vehicle to charge the battery. Also, electricity can flow back from the vehicle to the grid when required. A majority of the time, electric vehicles are not in use. During this idle time, the batteries of these vehicles can be utilized for supplying electricity back to the grid.

Global vehicle-to-grid (V2G) core manufacturers include NUVVE, Enel Energia, The Mobility House and State Grid. The top three manufacturers account for approximately 62% of the global share. NUVVE is the world's largest vehicle-to-grid manufacturer, with a market share of approximately 23%.

From a production perspective, the United States&Canada, Europe and China are the world's major vehicle-to-grid production regions, with the three together accounting for more than 86% of the market share.

In terms of product types, two-way V2G occupies a dominant position, accounting for 80% of the market share. At the same time, in terms of applications, pure electric vehicles are the largest application field, accounting for 72%.

Market The Driving Factors and Opportunity:

Growing customer demand for the product, effective marketing strategies in new states, and significant investments in product development are some of the major reasons that are driving the Vehicle-To-Grid (V2G) industry. One of the biggest problems the Vehicle-To-Grid (V2G) industry is facing is easy access to rivals. The inexpensive cost of alternatives is another barrier to the Vehicle-To-Grid (V2G) market. Companies believe they can overcome this obstacle, though, by keeping pricing in check and expanding the market for their goods through the introduction of chemicals, specialized chemicals, polymers, metals, ceramics, composites, and new materials. Furthermore, market participants need to overcome significant obstacles in order to reduce risks, adjust their plans, and carry on with business as usual. As a result, businesses will have the ability to deploy their resources efficiently without sacrificing timely market supply or product quality.

Top Market Leader Included:

NUVVE
Enel Energia
The Mobility House
China State Grid
Fermata Energy
E.ON
ActewAGL
KEPCO
EDF Energy
ABB
Tokyo Electric Power

Detailed of Vehicle-To-Grid (V2G) Market Segmentation: -

Segmentation By Type :-

Unidirectional V2G
Bidirectional V2G

Segmentation By Application : -

Battery Electric Vehicles
Plug-In Hybrid Electric Vehicles
Fuel Cell Vehicles

Regional Analysis of Vehicle-To-Grid (V2G) Market:-

The Vehicle-To-Grid (V2G) Market provides a diverse geographical landscape, with several areas exhibiting unique market characteristics. While some locations see rapid growth due to factors like economic expansion and technical advancements, other regions may experience slower but more consistent market expansion. Market trends vary greatly throughout regions due to factors including cultural influences, legal frameworks, and population developments. Businesses looking to go global must understand these regional differences and adjust their strategy to take advantage of local opportunities.

→ North America (U.S., Canada, China)

→ Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)

→ Asia-Pacific (Japan, South Korea, China Taiwan, Southeast Asia, India)

→ Middle East, Africa, Latin America (Brazil, Mexico, Turkey, Israel, GCC Countries)

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Table of Contents with Major Points:

1. Executive Summary

1.1. Market Analysis
1.2. Global & Segmental Market Estimates & Forecasts, 2024-2030 (USD Billion)
1.2.1. Vehicle-To-Grid (V2G) Market, by Region, 2024-2030 (USD Billion)
1.2.2. Vehicle-To-Grid (V2G) Market, by Type, 2024-2030 (USD Billion)
1.2.3. Vehicle-To-Grid (V2G) Market, by Application, 2024-2030 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption

2. Global Vehicle-To-Grid (V2G) Market Definition and Scope

2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Scope of the Study
2.2.2. Industry Evolution
2.3. Years Considered for the Study
2.4. Currency Conversion Rates

3. Global Market Dynamics

3.1. Vehicle-To-Grid (V2G) Market Impact Analysis (2024-2030)
3.1.1. Market Drivers
3.1.2. Market Challenges
3.1.3. Market Opportunities

4. Global Industry Analysis

4.1. Porter's 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.1.6. Futuristic Approach to Porter's 5 Force Model (2024-2030)
4.2. PEST Analysis
4.2.1. Political
4.2.2. Economical
4.2.3. Social
4.2.4. Technological
4.3. Investment Adoption Model
4.4. Analyst Recommendation & Conclusion

5. Global Market, by Type

5.1. Market Analysis
5.2. Global Vehicle-To-Grid (V2G) Market by Type, Performance - Potential Analysis
5.3. Global Vehicle-To-Grid (V2G) Market Estimates & Forecasts by Type 2024-2030 (USD Billion)
5.4. Vehicle-To-Grid (V2G) Market, Sub-Segment Analysis

6. Global Market, by Application

6.1. Market Analysis
6.2. Global Vehicle-To-Grid (V2G) Market by Application, Performance - Potential Analysis
6.3. Global Vehicle-To-Grid (V2G) Market Estimates & Forecasts by Application 2024-2030 (USD Billion)
6.4. Vehicle-To-Grid (V2G) Market, Sub-Segment Analysis
6.4.1. Others

7. Regional Analysis

7.1. Vehicle-To-Grid (V2G) Market, Regional Market Analysis
7.2. North America Vehicle-To-Grid (V2G) Market
7.3. Europe Vehicle-To-Grid (V2G) Market Analysis
7.4. Asia-Pacific Vehicle-To-Grid (V2G) Market Analysis
7.5. Latin America Vehicle-To-Grid (V2G) Market Analysis
7.6. Rest of The World Vehicle-To-Grid (V2G) Market

8. Competitive Intelligence

8.1. Top Market Strategies
8.2. Company Profiles
8.2.1. Key player 1
8.2.1.1. Key In Durationation
8.2.1.2. Overview
8.2.1.3. Financial (Subject to Data Availability)
8.2.1.4. Product Summary
8.2.1.5. Recent Developments

9. Research Process

9.1. Research Process
9.1.1. Data Mining
9.1.2. Analysis
9.1.3. Market Estimation
9.1.4. Validation
9.1.5. Publishing
9.2. Research Attributes

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