The Vehicle-To-Grid Technology Global Market Report 2023, provides comprehensive information on the vehicle-to-grid technology market across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten year historic period – 2010-2021, and a ten year forecast period – 2023-2032.
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As per The Business Research Company’s Vehicle-To-Grid Technology Global Market Report 2023, the global vehicle-to-grid technology market size is expected to grow from $2.70 billion in 2022 to $3.37 billion in 2023 at a compound annual growth rate (CAGR) of 24.8%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global vehicle-to-grid technology market size is expected to reach $7.80 billion in 2027 at a CAGR of 23.4%.
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The burgeoning landscape of the vehicle-to-grid (V2G) technology market is marked by a pivotal trend—the relentless surge in technological prowess. Noteworthy entities within this domain are strategically channeling their efforts into pioneering solutions, a strategic maneuver designed to fortify their standing within this dynamic market. A compelling exemplar of this commitment to innovation unfolded in July 2020, when Nissan Motor Corporation, a prominent Japanese automobile manufacturer, unveiled its cutting-edge vehicle-to-grid charging technology. This milestone initiative materialized at Realising Electric Vehicles Services (REVS) in the Australian Capital Territory (ACT), serving as a testament to Nissan’s unwavering dedication to advancing the electric mobility landscape.
Distinguished by its forward-thinking approach, Nissan’s initiative centers around the Nissan LEAF—a pioneering electric vehicle equipped with a revolutionary mobile energy solution. Notably, the Nissan LEAF stands as the singular battery electric vehicle endowed with complete bi-directional charging capability. This transformative V2G technology metamorphoses the Nissan LEAF into an integrated energy solution, wherein the vehicle’s batteries transcend their traditional vehicular confines. Beyond powering the electric vehicle itself, these batteries are harnessed to illuminate residences and commercial establishments, thereby exemplifying a paradigm shift in energy utilization.
A cornerstone feature of Nissan’s V2G technology is its holistic approach, empowering the Nissan LEAF to seamlessly transition from a mode of transportation to a dynamic energy reservoir. This innovation signifies a monumental stride towards a sustainable and interconnected energy ecosystem. Furthermore, it underscores the potential of electric vehicles not merely as conveyances but as integral contributors to the broader energy infrastructure. By permitting the bidirectional flow of energy, Nissan’s V2G technology not only addresses the mobility needs of users but also fosters a symbiotic relationship between electric vehicles and the power grid.
In essence, Nissan’s foray into V2G technology epitomizes the convergence of automotive excellence and sustainable energy solutions. As the trajectory of the vehicle-to-grid technology market continues to ascend, fueled by such groundbreaking initiatives, it is imperative for industry stakeholders to adapt and innovate continually to navigate this dynamic landscape successfully.
The vehicle-to-grid technology market is segmented:
1) By Component: Electric Vehicle Supply Equipment (EVSE), Home Energy Management (HEM) System, Smart Meters, Software Solutions
2) By Charging Type: Unidirectional Charging, Bidirectional Charging
3) By Vehicle Type: Battery Electric Vehicle (BEV), Plug-In Hybrid Electric Vehicle (PHEV), Fuel Cell Electric Vehicle (FCEV)
4) By Application: Reactive Power, Baseload Power, Spinning Reserves, Peak Power Sales, Other Applications
North America was the largest region in the vehicle-to-grid technology market in 2022.
The table of contents in TBRC’s vehicle-to-grid technology market report includes:
1. Executive Summary
2. Vehicle-to-Grid Technology Market Characteristics
3. Vehicle-to-Grid Technology Market Trends And Strategies
4. Vehicle-to-Grid Technology Market – Macro Economic Scenario
5. Vehicle-to-Grid Technology Market Size And Growth
6. Vehicle-to-Grid Technology Market Segmentation
…
27. Vehicle-to-Grid Technology Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Vehicle-to-Grid Technology Market
29. Vehicle-to-Grid Technology Market Future Outlook and Potential Analysis
30. Appendix
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