by [150+ Pages Report] As per the latest Research and survey report issued by Precedence Research, the global vehicle-to-grid technology market was valued at around USD 1.77 billion in 2021 and is expected to register revenues worth USD 17.43 billion by the end of 2027, growing at an exceptional CAGR of approximately 48% between 2022 and 2027.
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Growth Factors:
The vehicle to grid market perceives substantial growth due to exponentially growing number of EV charging stations across the world. EVs have less range than hybrid and internal combustion engine (ICE) vehicles. As a result, several charging facilities are essential to be installed on the road and off the road to progress their adoption rate. The intensifying number of charging stations will result in additional vehicles being integrated into the grid which in turn bolsters the demand for the vehicle to grid technologies.
However, on account of ongoing COVID-19 outbreak, the global automobile sector is facing a slowdown due to the lockdown in numerous countries that has constrained the production of electric vehicles.
The operations of certain vital players impacted by COVID-19 outbreak comprise BMW AG, Nissan Motor Co., Kia Motors Corp., Tesla, Inc and Daimler AG. Nonetheless, government incentive packages in the future might help the EV market get through an economic crisis carried by COVID-19 by investing profoundly in charging infrastructure. China is set to invest to encourage its automotive sector.
The Chinese government has highlighted “new infrastructure” as part of a stimulus policy to lift its economy after the slowdown instigated by COVID-19 and trade tensions. Therefore, most governments from pretentious areas have resorted to infrastructure refurbishment as an economic impetus method.
Scope of the Report
A recent study by Precedence Research on the vehicle-to-grid technology market offers a forecast for 2020 and 2027. The study analyzes crucial trends that are currently determining the growth of the vehicle-to-grid technology market.
This report explicates on vital dynamics such as the drivers, restraints, and opportunities for key market players, along with key stakeholders as well as emerging players associated with the manufacturing of vehicle-to-grid technology. The study also provides the dynamics that are responsible for influencing the future status of the vehicle-to-grid technology market over the forecast period.
A detailed assessment of the vehicle-to-grid technology market value chain analysis, business execution, and supply chain analysis across regional markets has been covered in the report. A list of prominent companies operating in the vehicle-to-grid technology market along with their product portfolio enhances the reliability of this comprehensive research study.
Report Highlights
- In 2019, Electric Vehicle Supply Equipment (EVSE) captured substantial revenue stake around 82% due to its growing application for connecting electric vehicles to the grid.
- The EVSE are the foremost component that joins electric vehicles to the electric grid and therefore escalating trend for smart energy and renewable generation will bolster the demand for EVSE components.
- In terms of revenue, Battery Electric Vehicles (BEVs) occupied noteworthy share of about 64% in the global vehicle-to-grid technology market in 2019. The primary influence behind this growth is the early employment of vehicle-to-grid technology in the vehicle.
- On the other hand, Plug-in Hybrid Electric Vehicles (PHEVs) is projected to display the fastest growth within the estimate period due to high-power return capacity and large battery size
Competition Landscape
The report has engulfed a chapter on the global electric vehicle market’s competitive landscape, which provides detailed analysis and insights on companies offering electric vehicle. Profiles of key companies, along with a strategic overview of their M&A and expansion plans across geographies, have been delivered in this chapter.
This chapter is priceless for report readers, as its enables them in gauging their growth potential in the market and implement key strategies for extending their market reach. This chapter offers key recommendations for both new and existing market participants, enabling them to emerge sustainably and profitably. Intelligence on the market players has been delivered on the basis of their product overview, SWOT analysis, key developments, key financials and company overview. Occupancy of these market participants has been tracked by the report and portrayed via an intensity map.
Some of the prominent players in the vehicle-to-grid technology market include:
- Nissan Motor Corporation
- Mitsubishi Motors Corporation
- NUVVE Corporation
- ENGIE Group
- OVO Energy Ltd
- Groupe Renault
- Honda Motor Co., Ltd.
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Segments Covered in the Report
By Component Type
- Smart Meters
- Electric Vehicle Supply Equipment (EVSE)
- Software
- Home Energy Management (HEM)
By Application Type
- Battery Electric Vehicles (BEVs)
- Fuel Cell Vehicles (FCVs)
- Plug-in Hybrid Electric Vehicles (PHEVs)
Regional Segmentation
- Asia-Pacific [China, Southeast Asia, India, Japan, Korea, Western Asia]
- Europe [Germany, UK, France, Italy, Russia, Spain, Netherlands, Turkey, Switzerland]
- North America [United States, Canada, Mexico]
- South America [Brazil, Argentina, Columbia, Chile, Peru]
- Middle East & Africa [GCC, North Africa, South Africa]
Read Also@ Electric Vehicle Market Size to Worth Around US$ 1103.17Bn by 2030
Regional Analysis
The research report includes a detailed study of regions of North America, Europe, China, Japan and Rest of the World. The report has been curated after observing and studying various factors that determine regional growth such as economic, environmental, social, technological, and political status of the particular region. Analysts have studied the data of revenue and manufacturers of each region.
This section analyses region-wise revenue and volume for the forecast period of 2019 to 2027. These analyses will help the reader to understand the potential worth of investment in a particular region.
The report provides in-depth segment analysis of the global vehicle-to-grid technology market, thereby providing valuable insights at macro as well as micro levels. Analysis of major countries, which hold growth opportunities or account for significant share has also been included as part of geographic analysis of the vehicle-to-grid technology market.
The report includes country-wise and region-wise market size for the period 2019-2027. It also includes market size and forecast by segments in terms of production capacity, price and revenue for the period 2019-2027.
Why should you invest in this report?
If you are aiming to enter the global vehicle-to-grid technology market, this report is a comprehensive guide that provides crystal clear insights into this niche market. All the major application areas for vehicle-to-grid technology are covered in this report and information is given on the important regions of the world where this market is likely to boom during the forecast period of 2021-2027 so that you can plan your strategies to enter this market accordingly.
Besides, through this report, you can have a complete grasp of the level of competition you will be facing in this hugely competitive market and if you are an established player in this market already, this report will help you gauge the strategies that your competitors have adopted to stay as market leaders in this market. For new entrants to this market, the voluminous data provided in this report is invaluable.
Table of Contents
Chapter 1. Introduction
Chapter 2. Research Methodology
Chapter 3. Executive Summary
Chapter 4. Market Variables and Scope
Chapter 5. Market Dynamics Analysis and Trends
Chapter 6. Competitive Landscape
Chapter 7. Global Vehicle-to-Grid Technology Market, By Component Type
Chapter 8. Global Vehicle-to-Grid Technology Market, By Application
Chapter 9. Global Vehicle-to-Grid Technology Market, Regional Estimates and Trend Forecast
Chapter 10. Company Profiles
Chapter 11. Research Methodology
Chapter 12. Appendix
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