NEW YORK, May 17, 2023 /PRNewswire/ — The vehicle-to-grid market size is set to grow by USD 29788.38 million from 2022 to 2027 progressing at a CAGR of 31.5% during the forecast period. The report offers an up-to-date analysis regarding the current global market scenario, the latest trends and drivers, and the overall market environment. The market is driven by improvements in EV battery technology. As the adoption of EVs grows, existing technologies are being pushed to their limits, necessitating the development of newer technologies.The need for grid integration is driven by better energy storage options and their easy integration into the grid.
Here is an Exclusive report talking about Market scenarios with a historical period (2017-2021) and forecast period (2023-2027). Download Sample Report in minutes!
The report on the vehicle-to-grid market provides a holistic update, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis.
Vehicle To Grid Market 2023-2027 – Market Dynamics
Market Driver
- Improvements in EV battery technology
- Ability to meet peak electricity demands
- Change in grid structure allowing decentralized power generation
Market Trend
- Rise in the number of EV charging stations
- Rapid deployment of smart grids
- Increasing popularity of EVs through government initiatives
Market Challenges
- Interoperability issues
- Competition from alternative technologies
- Additional stress on EV battery
Vehicle To Grid Market 2023-2027: Market Segmentation
The vehicle-to-grid market is segmented by product (power electronics and software), vehicle type (BEV, PHEV, and FCEV), and geography (North America, Europe, APAC, Middle East and Africa, and South America).
The vehicle-to-grid technology market share growth of the power electronics segment will be significant during the forecast period. In 2017 the power electronics segment was valued at USD 2,527.30 million and it continues to grow exponentially during the forecast period.
By geography, North America is estimated to contribute 34% to the growth of the global market during the forecast period. The US is the leading market for vehicle-to-grid in North America. This growth is attributed to rapid investments in the development and deployment of vehicle-to-grid infrastructure.
The report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources through an analysis of key parameters- View Sample Report
The vehicle-to-grid market covers the following areas:
Vehicle To Grid Market Sizing
Vehicle To Grid Market Forecast
Vehicle To Grid Market Analysis
Companies Mentioned
- ABB Ltd.
- AC Propulsion Inc.
- ChargePoint Inc.
- Continental AG
- Coritech Services
- Edison International
- Fermata LLC
- Hitachi Ltd.
- Honda Motor Co. Ltd
- Liikennevirta Oy Ltd.
- Mercedes Benz Group AG
- Mitsubishi Motors Corp.
- Nuvve Holding Corp.
- OVO Energy Ltd
- Renault SAS
- Tesla Inc.
- TransnetBW GmbH
- Ford Motor Co.
- Qualcomm Inc.
- Wallbox N.V.
global.abb- The company offers evaporating cooling systems through its subsidiary Baltimore Aircoil Co.
acpropulsion.com- The company offers evaporating cooling systems under its brand HMX.
chargepoint.com- The company offers evaporating cooling system namely KEC OEM kit.
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Vehicle To Grid Market Scope |
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Report Coverage |
Details |
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Base year |
2022 |
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Historic period |
2017-2021 |
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Forecast period |
2023-2027 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 31.5% |
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Market growth 2023-2027 |
USD 29788.38 million |
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Market structure |
Fragmented |
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YoY growth 2022-2023(%) |
30.5 |
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Regional analysis |
North America, Europe, APAC, Middle East and Africa, and South America |
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Performing market contribution |
North America at 34% |
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Key countries |
US, Japan, China, Germany, and UK |
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Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
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Key companies profiled |
ABB Ltd., AC Propulsion Inc., ChargePoint Inc., Continental AG, Coritech Services, Edison International, Fermata LLC, Hitachi Ltd., Honda Motor Co. Ltd, Liikennevirta Oy Ltd., Mercedes Benz Group AG, Mitsubishi Motors Corp., Nuvve Holding Corp., OVO Energy Ltd, Renault SAS, Tesla Inc., TransnetBW GmbH, Ford Motor Co., Qualcomm Inc., and Wallbox N.V. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
Key Topics Covered:
1 Executive Summary
- 1.1 Market overview
- Exhibit 01: Executive Summary – Chart on Market Overview
- Exhibit 02: Executive Summary – Data Table on Market Overview
- Exhibit 03: Executive Summary – Chart on Global Market Characteristics
- Exhibit 04: Executive Summary – Chart on Market by Geography
- Exhibit 05: Executive Summary – Chart on Market Segmentation by Product
- Exhibit 06: Executive Summary – Chart on Market Segmentation by Vehicle Type
- Exhibit 07: Executive Summary – Chart on Incremental Growth
- Exhibit 08: Executive Summary – Data Table on Incremental Growth
- Exhibit 09: Executive Summary – Chart on Vendor Market Positioning
2 Market Landscape
- 2.1 Market ecosystem
- Exhibit 10: Parent market
- Exhibit 11: Market Characteristics
3 Market Sizing
- 3.1 Market definition
- Exhibit 12: Offerings of vendors included in the market definition
- 3.2 Market segment analysis
- Exhibit 13: Market segments
- 3.3 Market size 2022
- 3.4 Market outlook: Forecast for 2022-2027
- Exhibit 14: Chart on Global – Market size and forecast 2022-2027 ($ million)
- Exhibit 15: Data Table on Global – Market size and forecast 2022-2027 ($ million)
- Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
- Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)
4 Historic Market Size
- 4.1 Global vehicle to grid market 2017 – 2021
- Exhibit 18: Historic Market Size – Data Table on Global vehicle to grid market 2017 – 2021 ($ million)
- 4.2 Product Segment Analysis 2017 – 2021
- Exhibit 19: Historic Market Size – Product Segment 2017 – 2021 ($ million)
- 4.3 Vehicle type Segment Analysis 2017 – 2021
- Exhibit 20: Historic Market Size – Vehicle type Segment 2017 – 2021 ($ million)
- 4.4 Geography Segment Analysis 2017 – 2021
- Exhibit 21: Historic Market Size – Geography Segment 2017 – 2021 ($ million)
- 4.5 Country Segment Analysis 2017 – 2021
- Exhibit 22: Historic Market Size – Country Segment 2017 – 2021 ($ million)
5 Five Forces Analysis
- 5.1 Five forces summary
- Exhibit 23: Five forces analysis – Comparison between 2022 and 2027
- 5.2 Bargaining power of buyers
- Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027
- 5.3 Bargaining power of suppliers
- Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027
- 5.4 Threat of new entrants
- Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027
- 5.5 Threat of substitutes
- Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027
- 5.6 Threat of rivalry
- Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027
- 5.7 Market condition
- Exhibit 29: Chart on Market condition – Five forces 2022 and 2027
6 Market Segmentation by Product
- 6.1 Market segments
- Exhibit 30: Chart on Product – Market share 2022-2027 (%)
- Exhibit 31: Data Table on Product – Market share 2022-2027 (%)
- 6.2 Comparison by Product
- Exhibit 32: Chart on Comparison by Product
- Exhibit 33: Data Table on Comparison by Product
- 6.3 Power electronics – Market size and forecast 2022-2027
- Exhibit 34: Chart on Power electronics – Market size and forecast 2022-2027 ($ million)
- Exhibit 35: Data Table on Power electronics – Market size and forecast 2022-2027 ($ million)
- Exhibit 36: Chart on Power electronics – Year-over-year growth 2022-2027 (%)
- Exhibit 37: Data Table on Power electronics – Year-over-year growth 2022-2027 (%)
- 6.4 Software – Market size and forecast 2022-2027
- Exhibit 38: Chart on Software – Market size and forecast 2022-2027 ($ million)
- Exhibit 39: Data Table on Software – Market size and forecast 2022-2027 ($ million)
- Exhibit 40: Chart on Software – Year-over-year growth 2022-2027 (%)
- Exhibit 41: Data Table on Software – Year-over-year growth 2022-2027 (%)
- 6.5 Market opportunity by Product
- Exhibit 42: Market opportunity by Product ($ million)
7 Market Segmentation by Vehicle Type
- 7.1 Market segments
- Exhibit 43: Chart on Vehicle Type – Market share 2022-2027 (%)
- Exhibit 44: Data Table on Vehicle Type – Market share 2022-2027 (%)
- 7.2 Comparison by Vehicle Type
- Exhibit 45: Chart on Comparison by Vehicle Type
- Exhibit 46: Data Table on Comparison by Vehicle Type
- 7.3 BEV – Market size and forecast 2022-2027
- Exhibit 47: Chart on BEV – Market size and forecast 2022-2027 ($ million)
- Exhibit 48: Data Table on BEV – Market size and forecast 2022-2027 ($ million)
- Exhibit 49: Chart on BEV – Year-over-year growth 2022-2027 (%)
- Exhibit 50: Data Table on BEV – Year-over-year growth 2022-2027 (%)
- 7.4 PHEV – Market size and forecast 2022-2027
- Exhibit 51: Chart on PHEV – Market size and forecast 2022-2027 ($ million)
- Exhibit 52: Data Table on PHEV – Market size and forecast 2022-2027 ($ million)
- Exhibit 53: Chart on PHEV – Year-over-year growth 2022-2027 (%)
- Exhibit 54: Data Table on PHEV – Year-over-year growth 2022-2027 (%)
- 7.5 FCEV – Market size and forecast 2022-2027
- Exhibit 55: Chart on FCEV – Market size and forecast 2022-2027 ($ million)
- Exhibit 56: Data Table on FCEV – Market size and forecast 2022-2027 ($ million)
- Exhibit 57: Chart on FCEV – Year-over-year growth 2022-2027 (%)
- Exhibit 58: Data Table on FCEV – Year-over-year growth 2022-2027 (%)
- 7.6 Market opportunity by Vehicle Type
- Exhibit 59: Market opportunity by Vehicle Type ($ million)
8 Customer Landscape
- 8.1 Customer landscape overview
- Exhibit 60: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria
9 Geographic Landscape
- 9.1 Geographic segmentation
- Exhibit 61: Chart on Market share by geography 2022-2027 (%)
- Exhibit 62: Data Table on Market share by geography 2022-2027 (%)
- 9.2 Geographic comparison
- Exhibit 63: Chart on Geographic comparison
- Exhibit 64: Data Table on Geographic comparison
- 9.3 North America – Market size and forecast 2022-2027
- Exhibit 65: Chart on North America – Market size and forecast 2022-2027 ($ million)
- Exhibit 66: Data Table on North America – Market size and forecast 2022-2027 ($ million)
- Exhibit 67: Chart on North America – Year-over-year growth 2022-2027 (%)
- Exhibit 68: Data Table on North America – Year-over-year growth 2022-2027 (%)
- 9.4 Europe – Market size and forecast 2022-2027
- Exhibit 69: Chart on Europe – Market size and forecast 2022-2027 ($ million)
- Exhibit 70: Data Table on Europe – Market size and forecast 2022-2027 ($ million)
- Exhibit 71: Chart on Europe – Year-over-year growth 2022-2027 (%)
- Exhibit 72: Data Table on Europe – Year-over-year growth 2022-2027 (%)
- 9.5 APAC – Market size and forecast 2022-2027
- Exhibit 73: Chart on APAC – Market size and forecast 2022-2027 ($ million)
- Exhibit 74: Data Table on APAC – Market size and forecast 2022-2027 ($ million)
- Exhibit 75: Chart on APAC – Year-over-year growth 2022-2027 (%)
- Exhibit 76: Data Table on APAC – Year-over-year growth 2022-2027 (%)
- 9.6 Middle East and Africa – Market size and forecast 2022-2027
- Exhibit 77: Chart on Middle East and Africa – Market size and forecast 2022-2027 ($ million)
- Exhibit 78: Data Table on Middle East and Africa – Market size and forecast 2022-2027 ($ million)
- Exhibit 79: Chart on Middle East and Africa – Year-over-year growth 2022-2027 (%)
- Exhibit 80: Data Table on Middle East and Africa – Year-over-year growth 2022-2027 (%)
- 9.7 South America – Market size and forecast 2022-2027
- Exhibit 81: Chart on South America – Market size and forecast 2022-2027 ($ million)
- Exhibit 82: Data Table on South America – Market size and forecast 2022-2027 ($ million)
- Exhibit 83: Chart on South America – Year-over-year growth 2022-2027 (%)
- Exhibit 84: Data Table on South America – Year-over-year growth 2022-2027 (%)
- 9.8 US – Market size and forecast 2022-2027
- Exhibit 85: Chart on US – Market size and forecast 2022-2027 ($ million)
- Exhibit 86: Data Table on US – Market size and forecast 2022-2027 ($ million)
- Exhibit 87: Chart on US – Year-over-year growth 2022-2027 (%)
- Exhibit 88: Data Table on US – Year-over-year growth 2022-2027 (%)
- 9.9 Japan – Market size and forecast 2022-2027
- Exhibit 89: Chart on Japan – Market size and forecast 2022-2027 ($ million)
- Exhibit 90: Data Table on Japan – Market size and forecast 2022-2027 ($ million)
- Exhibit 91: Chart on Japan – Year-over-year growth 2022-2027 (%)
- Exhibit 92: Data Table on Japan – Year-over-year growth 2022-2027 (%)
- 9.10 China – Market size and forecast 2022-2027
- Exhibit 93: Chart on China – Market size and forecast 2022-2027 ($ million)
- Exhibit 94: Data Table on China – Market size and forecast 2022-2027 ($ million)
- Exhibit 95: Chart on China – Year-over-year growth 2022-2027 (%)
- Exhibit 96: Data Table on China – Year-over-year growth 2022-2027 (%)
- 9.11 Germany – Market size and forecast 2022-2027
- Exhibit 97: Chart on Germany – Market size and forecast 2022-2027 ($ million)
- Exhibit 98: Data Table on Germany – Market size and forecast 2022-2027 ($ million)
- Exhibit 99: Chart on Germany – Year-over-year growth 2022-2027 (%)
- Exhibit 100: Data Table on Germany – Year-over-year growth 2022-2027 (%)
- 9.12 UK – Market size and forecast 2022-2027
- Exhibit 101: Chart on UK – Market size and forecast 2022-2027 ($ million)
- Exhibit 102: Data Table on UK – Market size and forecast 2022-2027 ($ million)
- Exhibit 103: Chart on UK – Year-over-year growth 2022-2027 (%)
- Exhibit 104: Data Table on UK – Year-over-year growth 2022-2027 (%)
- 9.13 Market opportunity by geography
- Exhibit 105: Market opportunity by geography ($ million)
10 Drivers, Challenges, and Trends
- 10.1 Market drivers
- 10.2 Market challenges
- 10.3 Impact of drivers and challenges
- Exhibit 106: Impact of drivers and challenges in 2022 and 2027
- 10.4 Market trends
11 Vendor Landscape
- 11.1 Overview
- 11.2 Vendor landscape
- Exhibit 107: Overview on Criticality of inputs and Factors of differentiation
- 11.3 Landscape disruption
- Exhibit 108: Overview on factors of disruption
- 11.4 Industry risks
- Exhibit 109: Impact of key risks on business
12 Vendor Analysis
- 12.1 Vendors covered
- Exhibit 110: Vendors covered
- 12.2 Market positioning of vendors
- Exhibit 111: Matrix on vendor position and classification
- 12.3 ABB Ltd.
- Exhibit 112: ABB Ltd. – Overview
- Exhibit 113: ABB Ltd. – Business segments
- Exhibit 114: ABB Ltd. – Key offerings
- Exhibit 115: ABB Ltd. – Segment focus
- 12.4 AC Propulsion Inc.
- Exhibit 116: AC Propulsion Inc. – Overview
- Exhibit 117: AC Propulsion Inc. – Product / Service
- Exhibit 118: AC Propulsion Inc. – Key offerings
- 12.5 Coritech Services
- Exhibit 119: Coritech Services – Overview
- Exhibit 120: Coritech Services – Product / Service
- Exhibit 121: Coritech Services – Key offerings
- 12.6 Edison International
- Exhibit 122: Edison International – Overview
- Exhibit 123: Edison International – Business segments
- Exhibit 124: Edison International – Key offerings
- Exhibit 125: Edison International – Segment focus
- 12.7 Ford Motor Co.
- Exhibit 126: Ford Motor Co. – Overview
- Exhibit 127: Ford Motor Co. – Business segments
- Exhibit 128: Ford Motor Co. – Key news
- Exhibit 129: Ford Motor Co. – Key offerings
- Exhibit 130: Ford Motor Co. – Segment focus
- 12.8 Hitachi Ltd.
- Exhibit 131: Hitachi Ltd. – Overview
- Exhibit 132: Hitachi Ltd. – Business segments
- Exhibit 133: Hitachi Ltd. – Key news
- Exhibit 134: Hitachi Ltd. – Key offerings
- Exhibit 135: Hitachi Ltd. – Segment focus
- 12.9 Honda Motor Co. Ltd
- Exhibit 136: Honda Motor Co. Ltd – Overview
- Exhibit 137: Honda Motor Co. Ltd – Business segments
- Exhibit 138: Honda Motor Co. Ltd – Key news
- Exhibit 139: Honda Motor Co. Ltd – Key offerings
- Exhibit 140: Honda Motor Co. Ltd – Segment focus
- 12.10 Liikennevirta Oy Ltd.
- Exhibit 141: Liikennevirta Oy Ltd. – Overview
- Exhibit 142: Liikennevirta Oy Ltd. – Product / Service
- Exhibit 143: Liikennevirta Oy Ltd. – Key offerings
- 12.11 Mercedes Benz Group AG
- Exhibit 144: Mercedes Benz Group AG – Overview
- Exhibit 145: Mercedes Benz Group AG – Business segments
- Exhibit 146: Mercedes Benz Group AG – Key offerings
- Exhibit 147: Mercedes Benz Group AG – Segment focus
- 12.12 Mitsubishi Motors Corp.
- Exhibit 148: Mitsubishi Motors Corp. – Overview
- Exhibit 149: Mitsubishi Motors Corp. – Business segments
- Exhibit 150: Mitsubishi Motors Corp. – Key offerings
- Exhibit 151: Mitsubishi Motors Corp. – Segment focus
- 12.13 Nuvve Holding Corp.
- Exhibit 152: Nuvve Holding Corp. – Overview
- Exhibit 153: Nuvve Holding Corp. – Product / Service
- Exhibit 154: Nuvve Holding Corp. – Key offerings
- 12.14 Qualcomm Inc.
- Exhibit 155: Qualcomm Inc. – Overview
- Exhibit 156: Qualcomm Inc. – Business segments
- Exhibit 157: Qualcomm Inc. – Key news
- Exhibit 158: Qualcomm Inc. – Key offerings
- Exhibit 159: Qualcomm Inc. – Segment focus
- 12.15 Renault SAS
- Exhibit 160: Renault SAS – Overview
- Exhibit 161: Renault SAS – Product / Service
- Exhibit 162: Renault SAS – Key news
- Exhibit 163: Renault SAS – Key offerings
- 12.16 Tesla Inc.
- Exhibit 164: Tesla Inc. – Overview
- Exhibit 165: Tesla Inc. – Business segments
- Exhibit 166: Tesla Inc. – Key news
- Exhibit 167: Tesla Inc. – Key offerings
- Exhibit 168: Tesla Inc. – Segment focus
- 12.17 Wallbox N.V.
- Exhibit 169: Wallbox N.V. – Overview
- Exhibit 170: Wallbox N.V. – Key offerings
13 Appendix
- 13.1 Scope of the report
- 13.2 Inclusions and exclusions checklist
- Exhibit 171: Inclusions checklist
- Exhibit 172: Exclusions checklist
- 13.3 Currency conversion rates for US$
- Exhibit 173: Currency conversion rates for US$
- 13.4 Research methodology
- Exhibit 174: Research methodology
- Exhibit 175: Validation techniques employed for market sizing
- Exhibit 176: Information sources
- 13.5 List of abbreviations
- Exhibit 177: List of abbreviations
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Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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