Vehicle-to-Grid (V2G) Market Set to Surge to US$ 3,621.4 Million by 2032, Driven by Robust 31.5% CAGR | Astute Analytica

Global Vehicle-to-Grid (V2G) market was valued at US$ 308.0 million in 2023 and is projected to hit the market valuation of US$ 3,621.4 million by 2032

CHICAGO, CA, UNITED STATES, September 13, 2024 /EINPresswire.com/ -- The global 𝐕𝐞𝐡𝐢𝐜𝐥𝐞-𝐭𝐨-𝐆𝐫𝐢𝐝 (𝐕𝟐𝐆) 𝐦𝐚𝐫𝐤𝐞𝐭 is on a rapid growth trajectory, with projections indicating a dramatic rise from 𝐔𝐒$ 𝟑𝟎𝟖.𝟎 𝐦𝐢𝐥𝐥𝐢𝐨𝐧 𝐢𝐧 𝟐𝟎𝟐𝟑 to an impressive 𝐔𝐒$ 𝟑,𝟔𝟐𝟏.𝟒 𝐦𝐢𝐥𝐥𝐢𝐨𝐧 𝐛𝐲 𝟐𝟎𝟑𝟐. This substantial growth represents a robust compound annual growth rate (𝐂𝐀𝐆𝐑) 𝐨𝐟 𝟑𝟏.𝟓% throughout the forecast period of 𝟐𝟎𝟐𝟒 𝐭𝐨 𝟐𝟎𝟑𝟐.

𝐓𝐡𝐞 𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐨𝐟 𝐭𝐡𝐢𝐬 𝐒𝐚𝐦𝐩𝐥𝐞 𝐑𝐞𝐩𝐨𝐫𝐭 𝐇𝐞𝐫𝐞- https://www.astuteanalytica.com/request-sample/vehicle-to-grid-v2g-market

Vehicle-to-Grid (V2G) technology, which enables electric vehicles (EVs) to return electricity to the grid, is gaining traction as a pivotal component in the transition to sustainable energy systems. The technology's ability to enhance grid stability, integrate renewable energy sources, and provide a revenue stream for EV owners is driving its adoption across various regions.

𝐌𝐚𝐫𝐤𝐞𝐭 𝐃𝐲𝐧𝐚𝐦𝐢𝐜𝐬

𝐃𝐫𝐢𝐯𝐞𝐫: 𝐆𝐨𝐯𝐞𝐫𝐧𝐦𝐞𝐧𝐭 𝐈𝐧𝐜𝐞𝐧𝐭𝐢𝐯𝐞𝐬 𝐚𝐧𝐝 𝐏𝐨𝐥𝐢𝐜𝐢𝐞𝐬 𝐏𝐫𝐨𝐦𝐨𝐭𝐢𝐧𝐠 𝐄𝐥𝐞𝐜𝐭𝐫𝐢𝐜 𝐕𝐞𝐡𝐢𝐜𝐥𝐞𝐬 𝐚𝐧𝐝 𝐆𝐫𝐢𝐝-𝐈𝐧𝐭𝐞𝐫𝐚𝐜𝐭𝐢𝐯𝐞 𝐓𝐞𝐜𝐡𝐧𝐨𝐥𝐨𝐠𝐲 𝐀𝐝𝐨𝐩𝐭𝐢𝐨𝐧

Governments worldwide are increasingly recognizing the potential of electric vehicles (EVs) and Vehicle-to-Grid (V2G) market in achieving sustainability goals. As a result, they are introducing diverse incentives and policies to promote the adoption of EVs and facilitate V2G integration. In 2023, over 30 countries have implemented tax rebates and subsidies for EV purchases, which has spurred the growth of EVs on the roads to over 10 million units globally. Countries like Norway are exemplary, with a significant portion of their vehicle sales being electric, driven by strong governmental support. The U.S. has allocated $7.5 billion for EV infrastructure development, significantly boosting the V2G ecosystem. In China, the world's largest EV market, the government has set a target of 5 million EV charging stations by 2025. Japan, with its focus on renewable energy, has set up 50,000 public charging stations, supporting the V2G initiative.

Additionally, strict emission regulations are pushing automakers to transition towards electric mobility. The European Union has set a target of 30 million zero-emission vehicles by 2030, further encouraging Vehicle-to-Grid (V2G) market growth. India plans to electrify 30% of its vehicle fleet by 2030, backed by government incentives. The UK is banning the sale of new petrol and diesel cars by 2030, promoting EVs and V2G. In South Korea, 300,000 EVs are expected to be on the road by 2025, thanks to governmental policies. Australia, albeit slowly, is also catching up with incentives designed to boost EV sales and V2G technology. These collective efforts underline the crucial role of government policies in accelerating the deployment of electric vehicles and V2G technology.

𝐅𝐨𝐫 𝐦𝐨𝐫𝐞 𝐢𝐧𝐟𝐨𝐫𝐦𝐚𝐭𝐢𝐨𝐧, 𝐩𝐥𝐞𝐚𝐬𝐞 𝐜𝐨𝐧𝐭𝐚𝐜𝐭:- https://www.astuteanalytica.com/industry-report/vehicle-to-grid-v2g-market

𝐓𝐨𝐩 𝐏𝐥𝐚𝐲𝐞𝐫𝐬 𝐢𝐧 𝐕𝐞𝐡𝐢𝐜𝐥𝐞-𝐭𝐨-𝐆𝐫𝐢𝐝 (𝐕𝟐𝐆) 𝐌𝐚𝐫𝐤𝐞𝐭

• Nissan Motor Corporation
• Mitsubishi Motors Corporation
• NUVVE Corporation
• ENGIE Group
• OVO Energy Ltd.
• Groupe Renault
• Honda Motor Co., Ltd.
• Hyundai Motor Company
• Edison International.
• DENSO Co.
• Boulder Electric Vehicle
• EV Grid
• Hitachi
• Next Energy
• NRG Energy
• OVO Energy Ltd.
• Other Prominent Players

𝐌𝐚𝐫𝐤𝐞𝐭 𝐒𝐞𝐠𝐦𝐞𝐧𝐭𝐚𝐭𝐢𝐨𝐧 𝐎𝐯𝐞𝐫𝐯𝐢𝐞𝐰:

𝐁𝐲 𝐕𝐞𝐡𝐢𝐜𝐥𝐞 𝐓𝐲𝐩𝐞

• Battery Electric Vehicles (BEVs)
• Plug-In Hybrid Electric Vehicles (PHEVs)
• Fuel Cell Vehicles (FCVs)

𝐁𝐲 𝐒𝐨𝐥𝐮𝐭𝐢𝐨𝐧 𝐓𝐲𝐩𝐞

• Hardware
o Electric Vehicle Supply
o Equipment (EVSE)
o Smart Meters
o V2G chargers
• Software
o V2G program administration
o Dynamic load management system
• Services

𝐁𝐲 𝐂𝐡𝐚𝐫𝐠𝐢𝐧𝐠 𝐓𝐲𝐩𝐞

• Unidirectional
• Bidirectional

𝐁𝐲 𝐀𝐩𝐩𝐥𝐢𝐜𝐚𝐭𝐢𝐨𝐧

• Peak Power Sales
• Spinning Reserves
• Base Load Power
• Others

𝐁𝐲 𝐑𝐞𝐠𝐢𝐨𝐧

• 𝐍𝐨𝐫𝐭𝐡 𝐀𝐦𝐞𝐫𝐢𝐜𝐚
o The U.S.
o Canada
o Mexico
• Europe

𝐨 𝐖𝐞𝐬𝐭𝐞𝐫𝐧 𝐄𝐮𝐫𝐨𝐩𝐞

 U.K.
 Germany
 France
 Spain
 Italy
 Rest of Western Europe

𝐨 𝐄𝐚𝐬𝐭𝐞𝐫𝐧 𝐄𝐮𝐫𝐨𝐩𝐞

 Russia
 Rest of Eastern Europe
• Asia Pacific
o China
o India
o Japan
o Australia & New Zealand
o ASEAN
o Rest of Asia Pacific
• Middle East & Africa (MEA)
o UAE
o Saudi Arabia
o South Africa
o Rest of MEA
• South America
o Argentina
o Brazil
o Rest of South America

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐃𝐅 𝐑𝐞𝐩𝐨𝐫𝐭@- https://www.astuteanalytica.com/request-sample/vehicle-to-grid-v2g-market

𝐀𝐛𝐨𝐮𝐭 𝐀𝐬𝐭𝐮𝐭𝐞 𝐀𝐧𝐚𝐥𝐲𝐭𝐢𝐜𝐚:

Astute Analytica is a global analytics and advisory company that has built a solid reputation in a short period, thanks to the tangible outcomes we have delivered to our clients. We pride ourselves in generating unparalleled, in-depth, and uncannily accurate estimates and projections for our very demanding clients spread across different verticals. We have a long list of satisfied and repeat clients from a wide spectrum including technology, healthcare, chemicals, semiconductors, FMCG, and many more. These happy customers come to us from all across the globe.

They are able to make well-calibrated decisions and leverage highly lucrative opportunities while surmounting the fierce challenges all because we analyse for them the complex business environment, segment-wise existing and emerging possibilities, technology formations, growth estimates, and even the strategic choices available. In short, a complete package. All this is possible because we have a highly qualified, competent, and experienced team of professionals comprising business analysts, economists, consultants, and technology experts. In our list of priorities, you-our patron-come at the top. You can be sure of the best cost-effective, value-added package from us, should you decide to engage with us.

Aamir Beg
Astute Analytica
+1 888-429-6757
email us here
Visit us on social media:
X
LinkedIn