Market Overview:
The global vehicle-to-grid market grew at a CAGR of around 15% during 2015-2020. Looking forward, IMARC Group expects the market to exhibit strong growth during 2021-2026. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor.
Vehicle-to-Grid (V2G) refers to an advanced smart charging technology that transfers energy from the battery of an electric vehicle (EV) to the power grid or vice-versa. The V2G technology involves drawing unused power from the battery and transferring it to the smart grid for providing electricity during peak hours or power failures. It also acts as an additional or secondary source of power when weather-dependent renewable energy resources are not available. It is also a sustainable and cost-effective source of energy with zero-carbon emissions and can be used with plug-in EVs, battery EVs and plug-in hybrid or hydrogen cell EVs.
The increasing utilization of smart power generation systems and the widespread adoption of autonomous vehicles, represent as the key factors driving the growth of the market. In comparison to the conventionally used internal combustion automobiles, hybrid and electric vehicles (H/EVs) operate more efficiently and have minimal fuel consumption. As a result, with the rising deployment of bidirectional charging stations, consumers can conveniently charge their vehicles and store excess energy for powering the grid. Additionally, extensive innovations in the manufacturing processes of automobile batteries, is acting as another growth-inducing factor. Novel automobile batteries have a longer operational life and can sustain multiple charging cycles without deteriorating. Moreover, the advent of vehicle-to-everything (V2X) technology as an extension to V2G with a smaller size, lighter weight and simpler installation process, is also contributing to the market growth. Other factors, including extensive infrastructural developments, along with the implementation of favorable government policies promoting smart grid projects, are anticipated to drive the market further.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global vehicle-to-grid market, along with forecasts at the global, regional and country level from 2021-2026. Our report has categorized the market based on solution type, vehicle type, charging type and application.
Breakup by Solution Type:
- Electric Vehicle Supply Equipment (EVSE)
- Smart Meters
- Home Energy Management (HEM) Systems
- Software Solutions
Breakup by Vehicle Type:
- Battery Electric Vehicle (BEV)
- Fuel Cell Electric Vehicle (FCEV)
- Plug-In Hybrid Electric Vehicle (PHEV)
Breakup by Charging Type:
- Unidirectional Charging
- Bidirectional Charging
Breakup by Application:
- Peak Power Sales
- Spinning Reserves
- Base Load Power
- Others
Breakup by Region:
- North America
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Middle East and Africa
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being AC Propulsion Inc., Coritech Services Inc., DENSO Corporation, Enerdel Inc., ENGIE Group, EV Grid, Hitachi Ltd., Nissan Motor Company Ltd., NRG Energy Inc. and OVO Energy Ltd.
Report Coverage:
| Report Features |
Details |
|---|
| Base Year of the Analysis |
2020 |
| Historical Period |
2015-2020 |
| Forecast Period |
2021-2026 |
| Units |
US$ Billion |
| Segment Coverage |
Solution Type, Vehicle Type, Charging Type, Application, Region |
| Region Covered |
Asia Pacific, Europe, North America, Latin America, Middle East and Africa |
| Countries Covered |
United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico |
| Companies Covered |
AC Propulsion Inc., Coritech Services Inc., DENSO Corporation, Enerdel Inc., ENGIE Group, EV Grid, Hitachi Ltd., Nissan Motor Company Ltd., NRG Energy Inc. and OVO Energy Ltd. |
| Customization Scope |
10% Free Customization |
| Report Price and Purchase Option |
Single User License: US$ 2299
Five User License: US$ 3399
Corporate License: US$ 4499 |
| Post-Sale Analyst Support |
10-12 Weeks |
| Delivery Format |
PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
Key Questions Answered in This Report:
- How has the global vehicle-to-grid market performed so far and how will it perform in the coming years?
- What has been the impact of COVID-19 on the global vehicle-to-grid market?
- What are the key regional markets?
- What is the breakup of the market based on the solution type?
- What is the breakup of the market based on the vehicle type?
- What is the breakup of the market based on the charging type?
- What is the breakup of the market based on the application?
- What are the various stages in the value chain of the industry?
- What are the key driving factors and challenges in the industry?
- What is the structure of the global vehicle-to-grid market and who are the key players?
- What is the degree of competition in the industry?
1 Preface
2 Scope and Methodology
2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
2.3.1 Primary Sources
2.3.2 Secondary Sources
2.4 Market Estimation
2.4.1 Bottom-Up Approach
2.4.2 Top-Down Approach
2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
4.1 Overview
4.2 Key Industry Trends
5 Global Vehicle-to-Grid Market
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Forecast
6 Market Breakup by Solution Type
6.1 Electric Vehicle Supply Equipment (EVSE)
6.1.1 Market Trends
6.1.2 Market Forecast
6.2 Smart Meters
6.2.1 Market Trends
6.2.2 Market Forecast
6.3 Home Energy Management (HEM) Systems
6.3.1 Market Trends
6.3.2 Market Forecast
6.4 Software Solutions
6.4.1 Market Trends
6.4.2 Market Forecast
7 Market Breakup by Vehicle Type
7.1 Battery Electric Vehicle (BEV)
7.1.1 Market Trends
7.1.2 Market Forecast
7.2 Fuel Cell Electric Vehicle (FCEV)
7.2.1 Market Trends
7.2.2 Market Forecast
7.3 Plug-In Hybrid Electric Vehicle (PHEV)
7.3.1 Market Trends
7.3.2 Market Forecast
8 Market Breakup by Charging Type
8.1 Unidirectional Charging
8.1.1 Market Trends
8.1.2 Market Forecast
8.2 Bidirectional Charging
8.2.1 Market Trends
8.2.2 Market Forecast
9 Market Breakup by Application
9.1 Peak Power Sales
9.1.1 Market Trends
9.1.2 Market Forecast
9.2 Spinning Reserves
9.2.1 Market Trends
9.2.2 Market Forecast
9.3 Base Load Power
9.3.1 Market Trends
9.3.2 Market Forecast
9.4 Others
9.4.1 Market Trends
9.4.2 Market Forecast
10 Market Breakup by Region
10.1 North America
10.1.1 United States
10.1.1.1 Market Trends
10.1.1.2 Market Forecast
10.1.2 Canada
10.1.2.1 Market Trends
10.1.2.2 Market Forecast
10.2 Asia-Pacific
10.2.1 China
10.2.1.1 Market Trends
10.2.1.2 Market Forecast
10.2.2 Japan
10.2.2.1 Market Trends
10.2.2.2 Market Forecast
10.2.3 India
10.2.3.1 Market Trends
10.2.3.2 Market Forecast
10.2.4 South Korea
10.2.4.1 Market Trends
10.2.4.2 Market Forecast
10.2.5 Australia
10.2.5.1 Market Trends
10.2.5.2 Market Forecast
10.2.6 Indonesia
10.2.6.1 Market Trends
10.2.6.2 Market Forecast
10.2.7 Others
10.2.7.1 Market Trends
10.2.7.2 Market Forecast
10.3 Europe
10.3.1 Germany
10.3.1.1 Market Trends
10.3.1.2 Market Forecast
10.3.2 France
10.3.2.1 Market Trends
10.3.2.2 Market Forecast
10.3.3 United Kingdom
10.3.3.1 Market Trends
10.3.3.2 Market Forecast
10.3.4 Italy
10.3.4.1 Market Trends
10.3.4.2 Market Forecast
10.3.5 Spain
10.3.5.1 Market Trends
10.3.5.2 Market Forecast
10.3.6 Russia
10.3.6.1 Market Trends
10.3.6.2 Market Forecast
10.3.7 Others
10.3.7.1 Market Trends
10.3.7.2 Market Forecast
10.4 Latin America
10.4.1 Brazil
10.4.1.1 Market Trends
10.4.1.2 Market Forecast
10.4.2 Mexico
10.4.2.1 Market Trends
10.4.2.2 Market Forecast
10.4.3 Others
10.4.3.1 Market Trends
10.4.3.2 Market Forecast
10.5 Middle East and Africa
10.5.1 Market Trends
10.5.2 Market Breakup by Country
10.5.3 Market Forecast
11 SWOT Analysis
11.1 Overview
11.2 Strengths
11.3 Weaknesses
11.4 Opportunities
11.5 Threats
12 Value Chain Analysis
13 Porters Five Forces Analysis
13.1 Overview
13.2 Bargaining Power of Buyers
13.3 Bargaining Power of Suppliers
13.4 Degree of Competition
13.5 Threat of New Entrants
13.6 Threat of Substitutes
14 Price Analysis
15 Competitive Landscape
15.1 Market Structure
15.2 Key Players
15.3 Profiles of Key Players
15.3.1 AC Propulsion Inc.
15.3.1.1 Company Overview
15.3.1.2 Product Portfolio
15.3.2 Coritech Services Inc.
15.3.2.1 Company Overview
15.3.2.2 Product Portfolio
15.3.3 DENSO Corporation
15.3.3.1 Company Overview
15.3.3.2 Product Portfolio
15.3.3.3 Financials
15.3.3.4 SWOT Analysis
15.3.4 Enerdel Inc.
15.3.4.1 Company Overview
15.3.4.2 Product Portfolio
15.3.5 ENGIE Group
15.3.5.1 Company Overview
15.3.5.2 Product Portfolio
15.3.5.3 Financials
15.3.5.4 SWOT Analysis
15.3.6 EV Grid
15.3.6.1 Company Overview
15.3.6.2 Product Portfolio
15.3.7 Hitachi Ltd.
15.3.7.1 Company Overview
15.3.7.2 Product Portfolio
15.3.7.3 Financials
15.3.7.4 SWOT Analysis
15.3.8 Nissan Motor Company Ltd.
15.3.8.1 Company Overview
15.3.8.2 Product Portfolio
15.3.8.3 Financials
15.3.8.4 SWOT Analysis
15.3.9 NRG Energy Inc.
15.3.9.1 Company Overview
15.3.9.2 Product Portfolio
15.3.9.3 Financials
15.3.9.4 SWOT Analysis
15.3.10 OVO Energy Ltd.
15.3.10.1 Company Overview
15.3.10.2 Product Portfolio
15.3.10.3 Financials
List of Figures
Figure 1: Global: Vehicle-to-Grid Market: Major Drivers and Challenges
Figure 2: Global: Vehicle-to-Grid Market: Sales Value (in Billion US$), 2015-2020
Figure 3: Global: Vehicle-to-Grid Market Forecast: Sales Value (in Billion US$), 2021-2026
Figure 4: Global: Vehicle-to-Grid Market: Breakup by Solution Type (in %), 2020
Figure 5: Global: Vehicle-to-Grid Market: Breakup by Vehicle Type (in %), 2020
Figure 6: Global: Vehicle-to-Grid Market: Breakup by Charging Type (in %), 2020
Figure 7: Global: Vehicle-to-Grid Market: Breakup by Application (in %), 2020
Figure 8: Global: Vehicle-to-Grid Market: Breakup by Region (in %), 2020
Figure 9: Global: Vehicle-to-Grid (Electric Vehicle Supply Equipment (EVSE)) Market: Sales Value (in Million US$), 2015 & 2020
Figure 10: Global: Vehicle-to-Grid (Electric Vehicle Supply Equipment (EVSE)) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 11: Global: Vehicle-to-Grid (Smart Meters) Market: Sales Value (in Million US$), 2015 & 2020
Figure 12: Global: Vehicle-to-Grid (Smart Meters) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 13: Global: Vehicle-to-Grid (Home Energy Management (HEM) Systems) Market: Sales Value (in Million US$), 2015 & 2020
Figure 14: Global: Vehicle-to-Grid (Home Energy Management (HEM) Systems) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 15: Global: Vehicle-to-Grid (Software Solutions) Market: Sales Value (in Million US$), 2015 & 2020
Figure 16: Global: Vehicle-to-Grid (Software Solutions) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 17: Global: Vehicle-to-Grid (Battery Electric Vehicle (BEV)) Market: Sales Value (in Million US$), 2015 & 2020
Figure 18: Global: Vehicle-to-Grid (Battery Electric Vehicle (BEV)) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 19: Global: Vehicle-to-Grid (Fuel Cell Electric Vehicle (FCEV)) Market: Sales Value (in Million US$), 2015 & 2020
Figure 20: Global: Vehicle-to-Grid (Fuel Cell Electric Vehicle (FCEV)) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 21: Global: Vehicle-to-Grid (Plug-In Hybrid Electric Vehicle (PHEV)) Market: Sales Value (in Million US$), 2015 & 2020
Figure 22: Global: Vehicle-to-Grid (Plug-In Hybrid Electric Vehicle (PHEV)) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 23: Global: Vehicle-to-Grid (Unidirectional Charging) Market: Sales Value (in Million US$), 2015 & 2020
Figure 24: Global: Vehicle-to-Grid (Unidirectional Charging) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 25: Global: Vehicle-to-Grid (Bidirectional Charging) Market: Sales Value (in Million US$), 2015 & 2020
Figure 26: Global: Vehicle-to-Grid (Bidirectional Charging) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 27: Global: Vehicle-to-Grid (Peak Power Sales) Market: Sales Value (in Million US$), 2015 & 2020
Figure 28: Global: Vehicle-to-Grid (Peak Power Sales) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 29: Global: Vehicle-to-Grid (Spinning Reserves) Market: Sales Value (in Million US$), 2015 & 2020
Figure 30: Global: Vehicle-to-Grid (Spinning Reserves) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 31: Global: Vehicle-to-Grid (Base Load Power) Market: Sales Value (in Million US$), 2015 & 2020
Figure 32: Global: Vehicle-to-Grid (Base Load Power) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 33: Global: Vehicle-to-Grid (Others) Market: Sales Value (in Million US$), 2015 & 2020
Figure 34: Global: Vehicle-to-Grid (Others) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 35: North America: Vehicle-to-Grid Market: Sales Value (in Million US$), 2015 & 2020
Figure 36: North America: Vehicle-to-Grid Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 37: North America: Vehicle-to-Grid Market: Breakup by Country (in %), 2020
Figure 38: United States: Vehicle-to-Grid Market: Sales Value (in Million US$), 2015 & 2020
Figure 39: United States: Vehicle-to-Grid Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 40: Canada: Vehicle-to-Grid Market: Sales Value (in Million US$), 2015 & 2020
Figure 41: Canada: Vehicle-to-Grid Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 42: Asia-Pacific: Vehicle-to-Grid Market: Sales Value (in Million US$), 2015 & 2020
Figure 43: Asia-Pacific: Vehicle-to-Grid Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 44: Asia-Pacific: Vehicle-to-Grid Market: Breakup by Country (in %), 2020
Figure 45: China: Vehicle-to-Grid Market: Sales Value (in Million US$), 2015 & 2020
Figure 46: China: Vehicle-to-Grid Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 47: Japan: Vehicle-to-Grid Market: Sales Value (in Million US$), 2015 & 2020
Figure 48: Japan: Vehicle-to-Grid Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 49: India: Vehicle-to-Grid Market: Sales Value (in Million US$), 2015 & 2020
Figure 50: India: Vehicle-to-Grid Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 51: South Korea: Vehicle-to-Grid Market: Sales Value (in Million US$), 2015 & 2020
Figure 52: South Korea: Vehicle-to-Grid Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 53: Australia: Vehicle-to-Grid Market: Sales Value (in Million US$), 2015 & 2020
Figure 54: Australia: Vehicle-to-Grid Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 55: Indonesia: Vehicle-to-Grid Market: Sales Value (in Million US$), 2015 & 2020
Figure 56: Indonesia: Vehicle-to-Grid Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 57: Others: Vehicle-to-Grid Market: Sales Value (in Million US$), 2015 & 2020
Figure 58: Others: Vehicle-to-Grid Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 59: Europe: Vehicle-to-Grid Market: Sales Value (in Million US$), 2015 & 2020
Figure 60: Europe: Vehicle-to-Grid Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 61: Europe: Vehicle-to-Grid Market: Breakup by Country (in %), 2020
Figure 62: Germany: Vehicle-to-Grid Market: Sales Value (in Million US$), 2015 & 2020
Figure 63: Germany: Vehicle-to-Grid Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 64: France: Vehicle-to-Grid Market: Sales Value (in Million US$), 2015 & 2020
Figure 65: France: Vehicle-to-Grid Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 66: United Kingdom: Vehicle-to-Grid Market: Sales Value (in Million US$), 2015 & 2020
Figure 67: United Kingdom: Vehicle-to-Grid Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 68: Italy: Vehicle-to-Grid Market: Sales Value (in Million US$), 2015 & 2020
Figure 69: Italy: Vehicle-to-Grid Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 70: Spain: Vehicle-to-Grid Market: Sales Value (in Million US$), 2015 & 2020
Figure 71: Spain: Vehicle-to-Grid Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 72: Russia: Vehicle-to-Grid Market: Sales Value (in Million US$), 2015 & 2020
Figure 73: Russia: Vehicle-to-Grid Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 74: Others: Vehicle-to-Grid Market: Sales Value (in Million US$), 2015 & 2020
Figure 75: Others: Vehicle-to-Grid Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 76: Latin America: Vehicle-to-Grid Market: Sales Value (in Million US$), 2015 & 2020
Figure 77: Latin America: Vehicle-to-Grid Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 78: Latin America: Vehicle-to-Grid Market: Breakup by Country (in %), 2020
Figure 79: Brazil: Vehicle-to-Grid Market: Sales Value (in Million US$), 2015 & 2020
Figure 80: Brazil: Vehicle-to-Grid Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 81: Mexico: Vehicle-to-Grid Market: Sales Value (in Million US$), 2015 & 2020
Figure 82: Mexico: Vehicle-to-Grid Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 83: Others: Vehicle-to-Grid Market: Sales Value (in Million US$), 2015 & 2020
Figure 84: Others: Vehicle-to-Grid Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 85: Middle East and Africa: Vehicle-to-Grid Market: Sales Value (in Million US$), 2015 & 2020
Figure 86: Middle East and Africa: Vehicle-to-Grid Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 87: Middle East and Africa: Vehicle-to-Grid Market: Breakup by Country (in %), 2020
Figure 88: Global: Vehicle-to-Grid Industry: SWOT Analysis
Figure 89: Global: Vehicle-to-Grid Industry: Value Chain Analysis
Figure 90: Global: Vehicle-to-Grid Industry: Porter's Five Forces Analysis
List of Tables
Table 1: Global: Vehicle-to-Grid Market: Key Industry Highlights, 2020 and 2026
Table 2: Global: Vehicle-to-Grid Market Forecast: Breakup by Solution Type (in Million US$), 2021-2026
Table 3: Global: Vehicle-to-Grid Market Forecast: Breakup by Vehicle Type (in Million US$), 2021-2026
Table 4: Global: Vehicle-to-Grid Market Forecast: Breakup by Charging Type (in Million US$), 2021-2026
Table 5: Global: Vehicle-to-Grid Market Forecast: Breakup by Application (in Million US$), 2021-2026
Table 6: Global: Vehicle-to-Grid Market Forecast: Breakup by Region (in Million US$), 2021-2026
Table 7: Global: Vehicle-to-Grid Market: Competitive Structure
Table 8: Global: Vehicle-to-Grid Market: Key Players