According to Future Market Insights, the global vehicle-to-grid market was valued at US$ 2,980.1 million in 2022. The market is expected to experience significant growth, with a projected Compound Annual Growth Rate (CAGR) of 22.6% from 2022 to 2032, driven primarily by the increasing use of smart power generation systems and the prevalence of electric vehicles.
One of the key drivers of the global vehicle-to-grid market is the growing demand for green energy sources for both vehicles and homes. The popularity of electric vehicles plays a crucial role in driving the growth of this market. Electric vehicles equipped with high-capacity batteries can act as energy storage units, providing power during periods of high demand or power outages. Vehicle-to-grid technology enables these electric vehicles to feed energy back into the grid, thereby balancing the energy system and facilitating the integration of renewable energy sources. This technology aligns with utilities’ sustainability objectives, further driving revenue growth in the vehicle-to-grid market.
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Europe is expected to have a significant share of the global vehicle-to-grid market in terms of revenue in 2022. In the United Kingdom, in particular, various manufacturers have invested in the design and development of technologies related to electric mobility and smart energy management. These investments have led to the creation of reversible charging solutions, contributing to the advancement of vehicle-to-grid technology in the region.
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Vehicle-To-Grid Market: Competition Analysis
The FMI’s study presents an extensive analysis of global, regional, and country-level players operating in the Vehicle-To-Grid market based on their innovative launches, distribution channels, local networks, industrial penetration, production methods, and revenue generation. Furthermore, growth strategies and mergers & acquisitions (M&A) activities associated with the players are enclosed in the Vehicle-To-Grid market report.
Key players covered in the report include:
- AC Propulsion
- IncEdison International.
- DENSO CORPORATION.
- Boulder Electric Vehicle
- Nissan
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Key Segments Profiled in the Vehicle-To-Grid Market
By Vehicle Type, Vehicle-To-Grid Market is segmented as:
- EVs (Electric Vehicles)
- PEVs (Plug in Electric Vehicles)
By Region, Vehicle-To-Grid Market is segmented as:
- North America
- Latin America
- Europe
- South Asia & Pacific
- East Asia
- Middle East & Africa
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Crucial Questions Answered in the Report
- Which end-use industry remains the top consumer of Vehicle-To-Grid in different regional markets?
- At what rate has the global Vehicle-To-Grid market been expanding during the forecast period?
- How will the global Vehicle-To-Grid market look like by the end of the forecast period?
- What innovative technologies are the Vehicle-To-Grid market players adopting to stay ahead of the pack?
- What are the restraints affecting the growth of the global Vehicle-To-Grid market?
Key Offerings of the Report
- Growth Drivers and Opportunities: Comprehensive analysis on growth-driving factors and opportunities for market players in different regional markets
- Recent Trends and Forecasts: Detailed assessment on the latest trends, technological developments, and forecasts for a 5-year or 10-year period.
- Segmental Analysis: Extensive analysis on each segment and factors differentiating the role of these segments in market revenue forecasts and growth rate analysis
- Regional Market Forecast: Thorough analysis of each regional market to arm stakeholders with necessary information to take critical decisions
- Competitive Landscape: All-inclusive insights on both leading and emerging players vying for a slice of the Vehicle-To-Grid market
About Future Market Insights (FMI)
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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