Global Vehicle-To-Grid (V2G) System Market Research Report: Forecast (2023-2028)

By Technology (Charging System, Software), By Charger Type (AC, DC, AC + DC), By Ownership (Private, Public), By End User (Individuals, Charging Station Owners, Utility Operators),...... By Region (North America, South America, Europe, The Middle East & Africa, Asia-Pacific), By Company (Toyota Tusho Corporation, ABB, Virta, Enel X Way, Edison International, Hitachi Energy Ltd., OVO Energy Ltd., The Mobility House GmbH, Denso Corporation, Nuvve Holding Corporation., Sono Motors, Aptive, IOTECHA, WiTrcity Corporation, Wallbox Chargers S.L, and Others) Read more

  • Energy
  • Sep 2023
  • 198
  • PDF, Excel, PPT

Market Definition

Vehicle-to-grid (V2G) is a technology enabling electric vehicle (EV) batteries to send energy back to the power grid. This involves discharging the EV battery according to various signals like nearby energy demand or production. V2G facilitates bi-directional charging, allowing EVs to both charge and discharge energy. Though often used interchangeably, there's a subtle distinction. While bi-directional charging involves two-way energy flow, V2G exclusively focuses on sending energy from the EV battery to the grid.

Market Insights & Projections: Global Vehicle-To-Grid (V2G) System Market (2023-28):

The Global Vehicle-To-Grid (V2G) System Market size is valued at around USD 4.8 billion in 2024 and is estimated to grow at a CAGR of around 24.52% during the forecast period, i.e., 2023-28. The market growth imputes to the increasing electric vehicles production, rising governmental efforts to establish EV charging networks, expanding requirements for smart grid systems, the flourishing utilization of renewable energy sources, etc. Governments across the globe such as India, the Netherlands, China, the USA, the UK, etc., are increasingly introducing several initiatives such as incentives, subsidies, and tax credits, for the massive development of EV charging infrastructures in recent years.

  • In 2023, India launched the FAME II Scheme to establish EV charging stations in 9 cities. The government allocated USD112 million to oil companies for EV setup and is subsidizing EV charging infrastructure for small businesses and RWAs.

These initiatives are focused on encouraging the adoption of EV vehicles, coupled with climate change goals. Consequently, as more charging infrastructure becomes available, the foundation for bidirectional energy flow, a core aspect of V2G, is solidified. With charging stations evolving to support bi-directional charging, the seamless integration of EVs into V2G systems is facilitated, and this would turn to V2G market growth in the forecast period.

Report Coverage Details
Study Period Historical Data: 2018-21
Base Year: 2022
Forecast Period: 2023-28
CAGR (2023-2028) 24.52%
Regions Covered North America: The US, Canada, Mexico
Europe: Germany, The UK, France, The Netherlands, Italy, Rest of Europe
Asia-Pacific: China, India, Japan, Australia, South Korea, Rest of Asia-Pacific
South America: Brazil, Rest of South America
Middle East & Africa: The UAE, South Africa, Rest of the Middle East & Africa
Key Companies Profiled Toyota Tusho Corporation, ABB, Virta, Enel X Way, Edison International, Hitachi Energy Ltd., OVO Energy Ltd., The Mobility House GmbH, Denso Corporation, Nuvve Holding Corporation., Sono Motors, Aptive, IOTECHA, WiTrcity Corporation, Wallbox Chargers S.L, and Others
Market Value (2024) USD 4.8 billion

 

Moreover, renewable energy sources like solar and wind are predicted to make substantial contributions to the energy landscape in future years. According to International Energy Agency in 2022, renewables are set to account for over 90% of global electricity expansion over the next five years, overtaking coal to become the largest source of global electricity by early 2025. Growing renewables require strong energy storage system, due to intermittency issues. Hence, V2G stores excess energy from peak generation, releasing during demand spikes or low generation, enhancing grid reliability.

Vehicle-To-Grid (V2G) System Market Research Report (2023-2028) - Table of Contents

 

  1. Market Segmentation
  2. Introduction
    1. Product Definition
    2. Research Process
    3. Assumptions
  3. Executive Summary
  4. Global Electric Vehicle Industry, Outlook 2023
    1. Production vs Sales (Thousand Units)
    2. Government Incentives & Policies for Rapid Uptake of EVs, By Top Countries
      1. By Countries
        1. China
        2. The US
        3. The UK
        4. Germany
        5. Norway
        6. Japan
        7. India
        8. The UAE
        9. Brazil
        10. Australia
        11. Others
  5. Global Energy Demand Outlook, 2018-2030
  6. Global Vehicle-To-Grid (V2G) System Market Start-Up Ecosystem, 2018-2023
    1. Entrepreneurial Activity
    2. Year on Year Funding Received
    3. Funding Received by Top Companies
    4. Key Investors Active in the Market
    5. Series Wise Funding Received
      1. Seed Funding
      2. Angel Investing
      3. Venture Capitalists (VC) Funding
      4. Others
  7. Global Vehicle-To-Grid (V2G) System Market Trends & Developments
  8. Global Vehicle-To-Grid (V2G) System Market Dynamics
    1. Drivers
    2. Challenges
  9. Global Vehicle-To-Grid (V2G) System Market Regulations and Policy
  10. Global Vehicle-To-Grid (V2G) System Market Outlook, 2018-2028F
    1. Market Size & Analysis
      1. By Revenues (USD Million)
    2. Market Share & Analysis
      1. By Technology
        1. Charging System- Market Size & Forecast 2018-2028, (USD Million)
        2. Software - Market Size & Forecast 2018-2028, (USD Million)
      2. By Charger Type
        1. AC- Market Size & Forecast 2018-2028, (USD Million)
        2. DC- Market Size & Forecast 2018-2028, (USD Million)
        3. AC + DC- Market Size & Forecast 2018-2028, (USD Million)
      3. By Ownership
        1. Private -Market Size & Forecast 2018-2028, (USD Million)
        2. Public - Market Size & Forecast 2018-2028, (USD Million)
      4. By End User
        1. Individuals - Market Size & Forecast 2018-2028, (USD Million)
        2. Charging Station Owners - Market Size & Forecast 2018-2028, (USD Million)
        3. Utility Operators - Market Size & Forecast 2018-2028, (USD Million)
      5. By Region
        1. North America
        2. South America
        3. Europe
        4. The Middle East & Africa
        5. Asia-Pacific
      6. By Company
        1. Market Share
        2. Competition Characteristics
  11. North America Vehicle-To-Grid (V2G) System Market Outlook, 2018-2028F
    1. Market Size & Analysis
      1. By Revenues (USD Million)
    2. Market Share & Analysis
      1. By Technology - Market Size & Forecast 2018-2028, (USD Million)
      2. By Charger Type - Market Size & Forecast 2018-2028, (USD Million)
      3. By Ownership- Market Size & Forecast 2018-2028, (USD Million)
      4. By End-User- Market Size & Forecast 2018-2028, (USD Million)
      5. By Country
        1. The US
        2. Canada
        3. Mexico
    3. The US Vehicle-To-Grid (V2G) System Market Outlook, 2018-2028F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
      2. Market Share & Analysis
        1. By Technology - Market Size & Forecast 2018-2028, (USD Million)
        2. By Charger Type - Market Size & Forecast 2018-2028, (USD Million)
        3. By Ownership- Market Size & Forecast 2018-2028, (USD Million)
        4. By End-User- Market Size & Forecast 2018-2028, (USD Million)
    4. Canada Vehicle-To-Grid (V2G) System Market Outlook, 2018-2028F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
      2. Market Share & Analysis
        1. By Technology - Market Size & Forecast 2018-2028, (USD Million)
        2. By Charger Type - Market Size & Forecast 2018-2028, (USD Million)
        3. By Ownership- Market Size & Forecast 2018-2028, (USD Million)
        4. By End-User- Market Size & Forecast 2018-2028, (USD Million)
    5. Mexico Vehicle-To-Grid (V2G) System Market Outlook, 2018-2028F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
      2. Market Share & Analysis
        1. By Technology - Market Size & Forecast 2018-2028, (USD Million)
        2. By Charger Type - Market Size & Forecast 2018-2028, (USD Million)
        3. By Ownership- Market Size & Forecast 2018-2028, (USD Million)
        4. By End-User- Market Size & Forecast 2018-2028, (USD Million)
  12. South America Vehicle-To-Grid (V2G) System Market Outlook, 2018-2028F
    1. Market Size & Analysis
      1. By Revenues (USD Million)
    2. Market Share & Analysis
      1. By Technology - Market Size & Forecast 2018-2028, (USD Million)
      2. By Charger Type - Market Size & Forecast 2018-2028, (USD Million)
      3. By Ownership- Market Size & Forecast 2018-2028, (USD Million)
      4. By End-User- Market Size & Forecast 2018-2028, (USD Million)
    3. By Country
      1. Brazil
      2. Rest of South America
    4. Brazil Vehicle-To-Grid (V2G) System Market Outlook, 2018-2028F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
      2. Market Share & Analysis
        1. By Technology - Market Size & Forecast 2018-2028, (USD Million)
        2. By Charger Type - Market Size & Forecast 2018-2028, (USD Million)
        3. By Ownership- Market Size & Forecast 2018-2028, (USD Million)
        4. By End-User- Market Size & Forecast 2018-2028, (USD Million)
  13. Europe Vehicle-To-Grid (V2G) System Market Outlook, 2018-2028F
    1. Market Size & Analysis
      1. By Revenues (USD Million)
    2. Market Share & Analysis
      1. By Technology - Market Size & Forecast 2018-2028, (USD Million)
      2. By Charger Type - Market Size & Forecast 2018-2028, (USD Million)
      3. By Ownership- Market Size & Forecast 2018-2028, (USD Million)
      4. By End-User- Market Size & Forecast 2018-2028, (USD Million)
      5. By Country
        1. Germany
        2. The UK
        3. France
        4. The Netherlands
        5. Italy
        6. Rest of Europe
    3. Germany Vehicle-To-Grid (V2G) System Market Outlook, 2018-2028F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
      2. Market Share & Analysis
        1. By Technology - Market Size & Forecast 2018-2028, (USD Million)
        2. By Charger Type - Market Size & Forecast 2018-2028, (USD Million)
        3. By Ownership- Market Size & Forecast 2018-2028, (USD Million)
        4. By End-User- Market Size & Forecast 2018-2028, (USD Million)
    4. The UK Vehicle-To-Grid (V2G) System Market Outlook, 2018-2028F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
      2. Market Share & Analysis
        1. By Technology - Market Size & Forecast 2018-2028, (USD Million)
        2. By Charger Type - Market Size & Forecast 2018-2028, (USD Million)
        3. By Ownership- Market Size & Forecast 2018-2028, (USD Million)
        4. By End-User- Market Size & Forecast 2018-2028, (USD Million)
    5. France Vehicle-To-Grid (V2G) System Market Outlook, 2018-2028F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
      2. Market Share & Analysis
        1. By Technology - Market Size & Forecast 2018-2028, (USD Million)
        2. By Charger Type - Market Size & Forecast 2018-2028, (USD Million)
        3. By Ownership- Market Size & Forecast 2018-2028, (USD Million)
        4. By End-User- Market Size & Forecast 2018-2028, (USD Million)
    6. Italy Vehicle-To-Grid (V2G) System Market Outlook, 2018-2028F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
      2. Market Share & Analysis
        1. By Technology - Market Size & Forecast 2018-2028, (USD Million)
        2. By Charger Type - Market Size & Forecast 2018-2028, (USD Million)
        3. By Ownership- Market Size & Forecast 2018-2028, (USD Million)
        4. By End-User- Market Size & Forecast 2018-2028, (USD Million)
    7. The Netherlands Vehicle-To-Grid (V2G) System Market Outlook, 2018-2028F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
      2. Market Share & Analysis
        1. By Technology - Market Size & Forecast 2018-2028, (USD Million)
        2. By Charger Type - Market Size & Forecast 2018-2028, (USD Million)
        3. By Ownership- Market Size & Forecast 2018-2028, (USD Million)
        4. By End-User- Market Size & Forecast 2018-2028, (USD Million)
  14. The Middle East & Africa Vehicle-To-Grid (V2G) System Market Outlook, 2018-2028F
    1. Market Size & Analysis
      1. By Revenues (USD Million)
    2. Market Share & Analysis
      1. By Technology - Market Size & Forecast 2018-2028, (USD Million)
      2. By Charger Type - Market Size & Forecast 2018-2028, (USD Million)
      3. By Ownership- Market Size & Forecast 2018-2028, (USD Million)
      4. By End-User- Market Size & Forecast 2018-2028, (USD Million)
      5. By Country
        1. The UAE
        2. South Africa
        3. Rest of the Middle East & Africa
    3. The UAE Vehicle-To-Grid (V2G) System Market Outlook, 2018-2028F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
      2. Market Share & Analysis
        1. By Technology - Market Size & Forecast 2018-2028, (USD Million)
        2. By Charger Type - Market Size & Forecast 2018-2028, (USD Million)
        3. By Ownership- Market Size & Forecast 2018-2028, (USD Million)
        4. By End-User- Market Size & Forecast 2018-2028, (USD Million)
    4. South Africa Vehicle-To-Grid (V2G) System Market Outlook, 2018-2028F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
      2. Market Share & Analysis
        1. By Technology - Market Size & Forecast 2018-2028, (USD Million)
        2. By Charger Type - Market Size & Forecast 2018-2028, (USD Million)
        3. By Ownership- Market Size & Forecast 2018-2028, (USD Million)
        4. By End-User- Market Size & Forecast 2018-2028, (USD Million)
  15. Asia-Pacific Vehicle-To-Grid (V2G) System Market Outlook, 2018-2028F
    1. Market Size & Analysis
      1. By Revenues (USD Million)
    2. Market Share & Analysis
      1. By Technology - Market Size & Forecast 2018-2028, (USD Million)
      2. By Charger Type - Market Size & Forecast 2018-2028, (USD Million)
      3. By Ownership- Market Size & Forecast 2018-2028, (USD Million)
      4. By End-User- Market Size & Forecast 2018-2028, (USD Million)
      5. By Country
        1. China
        2. Japan
        3. India
        4. Australia
        5. South Korea
        6. Rest of Asia-Pacific
    3. China Vehicle-To-Grid (V2G) System Market Outlook, 2018-2028F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
      2. Market Share & Analysis
        1. By Technology - Market Size & Forecast 2018-2028, (USD Million)
        2. By Charger Type - Market Size & Forecast 2018-2028, (USD Million)
        3. By Ownership- Market Size & Forecast 2018-2028, (USD Million)
        4. By End-User- Market Size & Forecast 2018-2028, (USD Million)
    4. Japan Vehicle-To-Grid (V2G) System Market Outlook, 2018-2028F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
      2. Market Share & Analysis
        1. By Technology - Market Size & Forecast 2018-2028, (USD Million)
        2. By Charger Type - Market Size & Forecast 2018-2028, (USD Million)
        3. By Ownership- Market Size & Forecast 2018-2028, (USD Million)
        4. By End-User- Market Size & Forecast 2018-2028, (USD Million)
    5. India Vehicle-To-Grid (V2G) System Market Outlook, 2018-2028F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
      2. Market Share & Analysis
        1. By Technology - Market Size & Forecast 2018-2028, (USD Million)
        2. By Charger Type - Market Size & Forecast 2018-2028, (USD Million)
        3. By Ownership- Market Size & Forecast 2018-2028, (USD Million)
        4. By End-User- Market Size & Forecast 2018-2028, (USD Million)
    6. Australia Vehicle-To-Grid (V2G) System Market Outlook, 2018-2028F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
      2. Market Share & Analysis
        1. By Technology - Market Size & Forecast 2018-2028, (USD Million)
        2. By Charger Type - Market Size & Forecast 2018-2028, (USD Million)
        3. By Ownership- Market Size & Forecast 2018-2028, (USD Million)
        4. By End-User- Market Size & Forecast 2018-2028, (USD Million)
    7. South Korea Vehicle-To-Grid (V2G) System Market Outlook, 2018-2028F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
      2. Market Share & Analysis
        1. By Technology - Market Size & Forecast 2018-2028, (USD Million)
        2. By Charger Type - Market Size & Forecast 2018-2028, (USD Million)
        3. By Ownership- Market Size & Forecast 2018-2028, (USD Million)
        4. By End-User- Market Size & Forecast 2018-2028, (USD Million)
  16. Competitive Outlook
    1. Company Profiles 
      1. Toyota Tsusho Corporation
        1. Business Description
        2. Product Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      2. ABB
        1. Business Description
        2. Product Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      3. Virta
        1. Business Description
        2. Product Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      4. Enel X Way
        1. Business Description
        2. Product Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      5. Edison International
        1. Business Description
        2. Product Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      6. Hitachi Energy Ltd
        1. Business Description
        2. Product Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      7. OVO Energy Ltd
        1. Business Description
        2. Product Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      8. The Mobility House GmbH
        1. Business Description
        2. Product Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      9. Denso Corporation
        1. Business Description
        2. Product Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      10. Nuvve Holding Corp.
        1. Business Description
        2. Product Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      11. Sono Motors
        1. Business Description
        2. Product Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      12. Aptiv
        1. Business Description
        2. Product Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      13. IOTECHA
        1. Business Description
        2. Product Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      14. WiTricity Corporation.
        1. Business Description
        2. Product Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      15. Wallbox Chargers, S.L.
        1. Business Description
        2. Product Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      16. Others
  17. Disclaimer


MarkNtel Advisors follows a robust and iterative research methodology designed to ensure maximum accuracy and minimize deviation in market estimates and forecasts. Our approach combines both bottom-up and top-down techniques to effectively segment and quantify various aspects of the market. A consistent feature across all our research reports is data triangulation, which examines the market from three distinct perspectives to validate findings. Key components of our research process include:

1. Scope & Research Design At the outset, MarkNtel Advisors define the research objectives and formulate pertinent questions. This phase involves determining the type of research—qualitative or quantitative—and designing a methodology that outlines data collection methods, target demographics, and analytical tools. They also establish timelines and budgets to ensure the research aligns with client goals.

2. Sample Selection and Data Collection In this stage, the firm identifies the target audience and determines the appropriate sample size to ensure representativeness. They employ various sampling methods, such as random or stratified sampling, based on the research objectives. Data collection is carried out using tools like surveys, interviews, and observations, ensuring the gathered data is reliable and relevant.

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Data Trangulation

4. Data Forecast and FinalizationThe final phase involves forecasting future market trends based on the analyzed data. MarkNtel Advisors utilize predictive modeling and time series analysis to anticipate market behaviors. The insights are then compiled into comprehensive reports, featuring visual aids like charts and graphs, and include strategic recommendations to inform client decision-making

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