by The global Vehicle-to-Grid Technology market size is expected to surpass around US$ 17.43 billion by 2027 and the market is expected to garner growth at a CAGR of 48% over the forecast period 2021 to 2027.
The Vehicle-to-Grid Technology market report covers a detailed analysis for the historic period 2017-2020, considering 2021 as the base year and forecast (growth) for 2021-2027.
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Growth Factors
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.
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Market Overview
A recent study by Precedence Research on the Vehicle-to-Grid Technology market offers a forecast for 2021 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
Regional Snapshots
Globally, Europe dominated the overall vehicle to grid market with around 36% market share in terms of revenue in 2019. Asia Pacific is projected to record robust growth and anticipated to reach market value around USD 5,521 million by 2027. The adoption rate of electric vehicles is growing, and numerous countries across the world are investing intensely in R&D. Nations like France, Canada, the Netherlands, and India have introduced numerous campaigns to boost the adoption of electric vehicles. As per one survey, there are around 50 V2G physical projects delivering clear use cases worldwide. Out of these 50 projects around 25 are in Europe, 7 in Asia-Pacific and 18 in North America. Northern European states lead with Denmark, Netherlands, UK and Germany the market leaders in the Europe. Activity in the U.S. is primarily in Hawaii, California, and Delaware. This project data depicts that Asian contribution has been more concentrated as a manufacturing partner than being a home for implementation, with some notable exceptions.
In Denmark, Nuvve Corporation declared 4 years of successive vehicle to grid operations of electric vehicles in September 2020. The company has been carrying out current frequency regulation service for Energinet, the Danish grid operator, for 4 successive years. The initial fleet of vehicles commenced service in September 2016 at a municipal water and gas Utility Corporation in Denmark named Frederiksberg Foraying.
OBJECTIVES OF THE STUDY
- To analyze and forecast the electric motor market, in terms of value and volume
- To provide information about the key factors influencing the growth of the market (drivers, restraints, opportunities, and challenges)
- To define, segment, and project the size of the global electric motor market on the product type, end-use and other segments
- To project the size of the market, with respect to five main regions, namely, North America, Europe, Asia Pacific (APAC), the Middle East & Africa, and South America, with their key countries
- To strategically analyze micro markets with respect to individual growth trends, growth prospects, and their contribution to the total market
- To analyze opportunities in the market for stakeholders and provide a competitive landscape of the market leaders
- To strategically profile key players and comprehensively analyze their core competencies
- To track and analyze research & development (R&D) and competitive developments such as joint ventures, mergers & acquisitions, and new product developments in the electric motor market
Research Methodology
- Market estimate for 2020
- Average selling price (ASP) per region for specific product type
- Filtrations and assortment of gathered data, to estimate the base year (2021) market size for the country
- Gathering data from company websites, annual reports, white papers, financial reports, broker reports, investor presentations, and SEC filings
- National government documents, statistical databases
- News articles, press releases, and webcasts specific to companies operating in the market
- Country wise analysis through internal and external proprietary databases, and relevant patent and regulatory databases
- Determination of market penetration by country
Major Players Covered in this Report
The updated market research report on electric motor market allows the buyers and manufacturers to stay updated with the current market trends, ongoing happenings, and a clear picture on the market scenario. List of key players included in the research report will help the market vendors to know their market position and plan more operational strategies to gain topmost position among other players. The report offers crucial company information on each market player, such as company profile, financial information, and recently adopted growth strategies. This will help other existing players and the new entrants to plan strategies and establish their presence in the market.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
- Company Overview
- Company Market Share/Positioning Analysis
- Product Offerings
- Financial Performance
- Recent Initiatives
- Key Strategies Adopted by Players
- Vendor Landscape
- List of Suppliers
- List of Buyers
Major key players operating in the market are
- Nissan Motor Corporation
- Mitsubishi Motors Corporation
- NUVVE Corporation
- ENGIE Group
- OVO Energy Ltd
- Groupe Renault
- Honda Motor Co., Ltd.
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)
By Regional Type
- North America
- U.S.
- Canada
- Europe
- U.K.
- Germany
- France
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of the World
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 CONTENT
Chapter 1. Introduction
1.1. Research Objective
1.2. Scope of the Study
1.3. Definition
Chapter 2. Research Methodology
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations
Chapter 3. Executive Summary
3.1. Market Snapshot
Chapter 4. Market Variables and Scope
4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Channel Analysis
4.3.3. Downstream Buyer Analysis
Chapter 5. Market Dynamics Analysis and Trends
5.1. Market Dynamics
5.1.1. Market Drivers
5.1.2. Market Restraints
5.1.3. Market Opportunities
5.2. Porter’s Five Forces Analysis
5.2.1. Bargaining power of suppliers
5.2.2. Bargaining power of buyers
5.2.3. Threat of substitute
5.2.4. Threat of new entrants
5.2.5. Degree of competition
Chapter 6. Competitive Landscape
6.1.1. Company Market Share/Positioning Analysis
6.1.2. Key Strategies Adopted by Players
6.1.3. Vendor Landscape
6.1.3.1. List of Suppliers
6.1.3.2. List of Buyers
Chapter 7. Global Vehicle-to-Grid Technology Market, By Component Type
7.1. Vehicle-to-Grid Technology Market, by Component Type, 2020-2027
7.1.1. Smart Meters
7.1.1.1. Market Revenue and Forecast (2016-2027)
7.1.2. Electric Vehicle Supply Equipment (EVSE)
7.1.2.1. Market Revenue and Forecast (2016-2027)
7.1.3. Software
7.1.3.1. Market Revenue and Forecast (2016-2027)
7.1.4. Home Energy Management (HEM)
7.1.4.1. Market Revenue and Forecast (2016-2027)
Chapter 8. Global Vehicle-to-Grid Technology Market, By Application
8.1. Vehicle-to-Grid Technology Market, by Application, 2020-2027
8.1.1. Battery Electric Vehicles (BEVs)
8.1.1.1. Market Revenue and Forecast (2016-2027)
8.1.2. Fuel Cell Vehicles (FCVs)
8.1.2.1. Market Revenue and Forecast (2016-2027)
8.1.3. Plug-in Hybrid Electric Vehicles (PHEVs)
8.1.3.1. Market Revenue and Forecast (2016-2027)
Chapter 9. Global Vehicle-to-Grid Technology Market, Regional Estimates and Trend Forecast
9.1. North America
9.1.1. Market Revenue and Forecast, by Component (2016-2027)
9.1.2. Market Revenue and Forecast, by Application (2016-2027)
9.1.3. U.S.
9.1.3.1. Market Revenue and Forecast, by Component (2016-2027)
9.1.3.2. Market Revenue and Forecast, by Application (2016-2027)
9.1.4. Rest of North America
9.1.4.1. Market Revenue and Forecast, by Component (2016-2027)
9.1.4.2. Market Revenue and Forecast, by Application (2016-2027)
9.2. Europe
9.2.1. Market Revenue and Forecast, by Component (2016-2027)
9.2.2. Market Revenue and Forecast, by Application (2016-2027)
9.2.3. UK
9.2.3.1. Market Revenue and Forecast, by Component (2016-2027)
9.2.3.2. Market Revenue and Forecast, by Application (2016-2027)
9.2.4. Germany
9.2.4.1. Market Revenue and Forecast, by Component (2016-2027)
9.2.4.2. Market Revenue and Forecast, by Application (2016-2027)
9.2.5. France
9.2.5.1. Market Revenue and Forecast, by Component (2016-2027)
9.2.5.2. Market Revenue and Forecast, by Application (2016-2027)
9.2.6. Rest of Europe
9.2.6.1. Market Revenue and Forecast, by Component (2016-2027)
9.2.6.2. Market Revenue and Forecast, by Application (2016-2027)
9.3. APAC
9.3.1. Market Revenue and Forecast, by Component (2016-2027)
9.3.2. Market Revenue and Forecast, by Application (2016-2027)
9.3.3. India
9.3.3.1. Market Revenue and Forecast, by Component (2016-2027)
9.3.3.2. Market Revenue and Forecast, by Application (2016-2027)
9.3.4. China
9.3.4.1. Market Revenue and Forecast, by Component (2016-2027)
9.3.4.2. Market Revenue and Forecast, by Application (2016-2027)
9.3.5. Japan
9.3.5.1. Market Revenue and Forecast, by Component (2016-2027)
9.3.5.2. Market Revenue and Forecast, by Application (2016-2027)
9.3.6. Rest of APAC
9.3.6.1. Market Revenue and Forecast, by Component (2016-2027)
9.3.6.2. Market Revenue and Forecast, by Application (2016-2027)
9.4. MEA
9.4.1. Market Revenue and Forecast, by Component (2016-2027)
9.4.2. Market Revenue and Forecast, by Application (2016-2027)
9.4.3. GCC
9.4.3.1. Market Revenue and Forecast, by Component (2016-2027)
9.4.3.2. Market Revenue and Forecast, by Application (2016-2027)
9.4.4. North Africa
9.4.4.1. Market Revenue and Forecast, by Component (2016-2027)
9.4.4.2. Market Revenue and Forecast, by Application (2016-2027)
9.4.5. South Africa
9.4.5.1. Market Revenue and Forecast, by Component (2016-2027)
9.4.5.2. Market Revenue and Forecast, by Application (2016-2027)
9.4.6. Rest of MEA
9.4.6.1. Market Revenue and Forecast, by Component (2016-2027)
9.4.6.2. Market Revenue and Forecast, by Application (2016-2027)
9.5. Latin America
9.5.1. Market Revenue and Forecast, by Component (2016-2027)
9.5.2. Market Revenue and Forecast, by Application (2016-2027)
9.5.3. Brazil
9.5.3.1. Market Revenue and Forecast, by Component (2016-2027)
9.5.3.2. Market Revenue and Forecast, by Application (2016-2027)
9.5.4. Rest of LATAM
9.5.4.1. Market Revenue and Forecast, by Component (2016-2027)
9.5.4.2. Market Revenue and Forecast, by Application (2016-2027)
Chapter 10. Company Profiles
10.1. Nissan Motor Corporation
10.1.1. Company Overview
10.1.2. Product Offerings
10.1.3. Financial Performance
10.1.4. Recent Initiatives
10.2. Mitsubishi Motors Corporation
10.2.1. Company Overview
10.2.2. Product Offerings
10.2.3. Financial Performance
10.2.4. Recent Initiatives
10.3. NUVVE Corporation
10.3.1. Company Overview
10.3.2. Product Offerings
10.3.3. Financial Performance
10.3.4. Recent Initiatives
10.4. ENGIE Group
10.4.1. Company Overview
10.4.2. Product Offerings
10.4.3. Financial Performance
10.4.4. Recent Initiatives
10.5. OVO Energy Ltd
10.5.1. Company Overview
10.5.2. Product Offerings
10.5.3. Financial Performance
10.5.4. Recent Initiatives
10.6. Groupe Renault
10.6.1. Company Overview
10.6.2. Product Offerings
10.6.3. Financial Performance
10.6.4. Recent Initiatives
10.7. Honda Motor Co., Ltd.
10.7.1. Company Overview
10.7.2. Product Offerings
10.7.3. Financial Performance
10.7.4. Recent Initiatives
Chapter 11. Research Methodology
11.1. Primary Research
11.2. Secondary Research
11.3. Assumptions
Chapter 12. Appendix
12.1. About Us
12.2. Glossary of Terms
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