Vehicle-to-Grid (V2G) Technology Market | Enabling Smart, Bidirectional EV Charging | Major Companies - Nissan Motor Co., Ltd, NUVVE HOLDING CORP., Honda Motor Co., Ltd., ABB, DENSO CORPORATION

Global Vehicle-to-Grid (V2G) Technology Market reached US$ 2.9 billion in 2023 and is expected to reach US$ 70.9 billion by 2031, growing with a CAGR of 49.4% during the forecast period 2024-2031.

The Vehicle-to-Grid Technology Market receives exhaustive analysis from DataM Intelligence, delivering stakeholders essential market data, emerging industry patterns, and strategic business intelligence. This in-depth research explores the competitive landscape in detail, evaluating market leaders across multiple dimensions including their innovative product offerings, competitive pricing strategies, financial performance metrics, strategic growth plans, and regional market penetration efforts.

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Vehicle-to-Grid (V2G) technology enables electric vehicles (EVs) to communicate with and supply energy back to the power grid when not in use. By allowing bidirectional energy flow, V2G helps balance electricity demand, supports grid stability, and enhances the integration of renewable energy sources. EVs equipped with V2G can act as mobile energy storage units, providing backup power during peak times or outages, and offering economic and environmental benefits for both consumers and utility providers.

Market Players in the Vehicle-to-Grid Technology market

The prominent players in Vehicle-to-Grid Technology market research report are: Nissan Motor Co., Ltd, NUVVE HOLDING CORP., Honda Motor Co., Ltd., ABB, DENSO CORPORATION, Hitachi Energy Ltd., E.ON UK plc., Wallbox Chargers, S.L., Fermata Energy, Evenergi Pty Ltd

The companies are primarily focusing on strategies such as new product launches to penetrate the fastest-growing emerging markets across the world.

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Vehicle-to-Grid Technology Market Key Development

➤ Toyota & SDG&E Launch V2G Research: In November 2023, Toyota Motor North America and San Diego Gas & Electric (SDG&E) partnered to explore bidirectional vehicle-to-grid (V2G) technology, allowing BEVs to both charge from and supply energy to the grid.

➤ SP Group Trials V2G in Singapore: In July 2021, SP Group began Southeast Asia's first V2G technology trial to evaluate the use of stored EV energy for grid support as Singapore moves toward phasing out internal combustion engine vehicles by 2040.

➤ Toyota & Oncor Pilot V2G in Texas: In December 2022, Toyota Motor North America and Oncor Electric Delivery launched a V2G pilot project in the U.S., marking Toyota's first public utility collaboration on battery electric vehicle grid integration.

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Vehicle-to-Grid Technology Market Segments

By Component: Smart Meters, Electric Vehicle Supply Equipment (EVSE), Software Solutions, Home Energy Management (HEM)

By Charging: Unidirectional Charging, Bidirectional Charging

By Vehicle: Battery Electric Vehicles (BEVs), Fuel Cell Vehicles (FCVs), Plug-in Hybrid Electric Vehicles (PHEVs)

By Battery: Lithium-ion, Nickel-Metal Hydride, Lead-acid, Ultra-capacitors

By Application: Domestic, Commercial

The Vehicle-to-Grid Technology industry is experiencing rapid growth, driven by advancements in medical technologies, increased demand for innovative therapies, and a rising focus on patient-centered care. As these sectors evolve, the need for comprehensive market analysis becomes crucial to understand trends, regulatory changes, and emerging opportunities.

Research Methodology

Our analytical framework employs cutting-edge statistical modeling and data mining techniques to identify emerging patterns, forecast market trajectories, and decode complex industry dynamics. We enhance our findings through sophisticated market segmentation analysis and Porter's Five Forces evaluation, providing a 360-degree view of the competitive landscape. This multi-layered methodology ensures our delivered insights are not only data-driven and credible but also strategically relevant and immediately actionable for critical business decisions.

Regions Covered:

The global Vehicle-to-Grid Technology Market report focuses on six major regions: North America, South America, Europe, Asia Pacific, the Middle East, and Africa.

☞ North America - US, Canada, Mexico

☞ Europe- Germany, Russia, UK, France, Italy, Rest of Europe

☞ Asia Pacific- China, India, Japan, Australia, Rest of Asia Pacific

☞ South America- Brazil, Argentina, Colombia, Rest of South America

☞ Middle East and Africa- Saudi Arabia, UAE, Oman, Bahrain, Qatar, Kuwait, Israel

This Report Covers:

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✔ Analysis of Market Size (historical and forecast), Total Addressable Market (TAM), Serviceable Available Market (SAM), Serviceable Obtainable Market (SOM), Market Growth, Technological Trends, Market Share, Market Dynamics, Competitive Landscape and Major Players (Innovators, Start-ups, Laggard, and Pioneer).

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