The global Vehicle-To-Grid Technology market size is expected to be worth around US$ 20.06 billion by 2030, according to a new report by Vision Research Reports. and is anticipated to grow at a CAGR of 50% during forecast period 2021 to 2030.
Combining BEVs (Battery Electric Vehicles) with vehicle-to-grid technology is creating revenue opportunities for various stakeholders in the market. This technology helps consumers to be a part of smart grid solution systems, which empowers them with price arbitrage and enables them to control energy reserves. Thus, vehicle owners can provide ancillary services to large distribution network operators and earn revenue by providing operators with energy reserves.
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Report Coverage
| Report Scope | Details |
| Market Size | US$ 20.06 billion by 2030 |
| Growth Rate | CAGR of 50% From 2021 to 2030 |
| Base Year | 2021 |
| Forecast Period | 2021 to 2030 |
| Segments Covered | Component, Application |
| Regional Scope | North America, Europe, Asia Pacific, Latin America, Middle East & Africa |
| Companies Mentioned | Nissan Motor Corporation, Mitsubishi Motors Corporation, NUVVE Corporation, ENGIE Group, OVO Energy Ltd, Groupe Renault, Honda Motor Co., Ltd. |
Growth Factors
There are several factors that are influencing the growth of the global vehicle to grid technology market. One of the most influential factor is the integration of battery electric vehicles (BEVs) with the vehicle to grid technology. This is creating a wide range of business opportunities for the growth of the market.
Combining BEVs (Battery Electric Vehicles) with vehicle-to-grid technology is creating revenue opportunities for various stakeholders in the market. This technology helps consumers to be a part of smart grid solution systems, which empowers them with price arbitrage and enables them to control energy reserves. Thus, vehicle owners can provide ancillary services to large distribution network operators and earn revenue by providing operators with energy reserves.
Key Players
Nissan Motor Corporation
Mitsubishi Motors Corporation
NUVVE Corporation
ENGIE Group
OVO Energy Ltd
Groupe Renault
Honda Motor Co., Ltd.
Market Segmentation
by Component
by Application
by Region
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