Vehicle to Grid Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 - 2025

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Vehicle to Grid Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 - 2025

Status : January, 2023 | Energy & Mining

Report Digest

Global Vehicle to Grid Market: Overview

Vehicle to grid systems enable the development of a two-way flow system between the grid and grid-able vehicles such as battery electric vehicles and plug-in hybrid electric vehicles, wherein the battery power of electric vehicles is used to feed grids during peak electricity demands. The global market for vehicle to grid is expanding at an enormous pace and is expected to continue to witness a healthy upward trajectory in the next few years. With increased focus on the development of grid infrastructure globally, making it capable of sourcing decentralized power from a number of new power generation mediums, and the introduction of smart grids, the market for vehicle to grid is also expected to expand at a promising pace in the next few years.

The market is also expected to benefit from the increased encouragement to the uptake of electric vehicles owing to their environment-friendly nature. To promote the adoption of electric vehicles, governments across the globe are investing in the development of vehicle battery charging infrastructure. Rising focus on the development of alternative power generation technologies so as to reduce the reliance of the power sector on fossil fuels and the integration of these power sources with grid could also foster the global vehicle to grid market in the next few years.

Global Vehicle to Grid Market: Segmentation

The report presents detailed analysis of key market segments and their state in key regional markets across the globe. The market has been segmented for the scope of the report on the basis of criteria such as technology and geography. Based on technology, the market has been segmented into software and power electronics. Of these, the segment of power electronics presently dominates the market in terms of revenue contribution to the global market. This can be chiefly attributed to the high cost of the technology.

Global Vehicle to Grid Market: Geographical Dynamics

From a geographical standpoint, the vehicle to grid market has been covered for regions such as North America, Europe, Asia Pacific, Middle East and Africa, and Latin America. Presently the market in North America accounts for the dominant share in global revenue, with the U.S. playing a key role in the overall demand served from the region. The regional market is also expected to remain the most promising and lucrative over the report’s forecast period, thanks to the rising investments aimed at the development of vehicle to grid infrastructure, especially in the U.S. Moreover, a massive rise in government policies encouraging the increased sales of plug-in hybrid electric vehicles and battery electric vehicles will continue to make the region a strong contender in the global vehicle to grid market.

Global Vehicle to Grid Market: Competitive Dynamics

Owing to its embryonic stage of development, the global vehicle to grid market features only a handful of companies accounting collectively for significant shares in the overall market. The market is expected to witness the entry of new companies in the next few years as the technology starts gaining prominence and technological advancements in solutions bring new consumers. Needless to say, early entrants have an added advantage owing to less competition amid surging growth opportunities.

Some of the leading companies in the market are AutoPort, Hitachi, AC Propulsion, DENSO, CORITECH, Kisensum, Boulder Electric Vehicle, Daimler, Honda, Mitsubishi Motors, Ford Motor Company, Nissan, and Tesla Motors.

The reports at TMR Research provide qualitative solutions that break the barriers of doubt or uncertainties when the stakeholders plan to expand their growth reach. The researchers compile the necessary information that enlightens the CXOs about the current growth opportunities in a specific market and enables them to make the most of the opportunities.

TMR Research is a leader in developing well-researched reports. The expertise of the researchers at TMR Research makes the report stand out from others. TMR Research reports help the stakeholders and CXOs make impactful decisions through a unique blend of innovation and analytical thinking. The use of innovation and analytical thinking while structuring a report assures complete and ideal information of the current status of the market to the stakeholders.

TMR Research has rich experience in developing state-of-the-art reports for a wide array of markets and sectors. The brilliance of the experts at TMR Research and their alacrity to conduct thorough research and create phenomenal reports makes TMR Research better than others.

5-Point Growth Formula

The 5-point growth formula developed by TMR Research provides an insight to the stakeholders and CXOs about the current situation in the market. The growth formula makes the report a perfect companion for the stakeholders and CXOs.

The 5-point growth formula includes the following points:

  • Current and Future Threats
  • Accurate Trend Analysis
  • Regional Assessment
  • Industrial Analogy
  • COVID-19 Impact

Current and Future Threats

Along with studying the opportunities necessary for growth, threats are also an important aspect to look upon for the companies and stakeholders in a specific sector. TMR Research studies every negative aspect that will hinder the growth of a specific area of business and includes it in the report. The stakeholders and CXOs will have the benefit of assessing the threat and take the necessary steps to prevent the hindrance caused due to the threats.

Accurate Trend Analysis

Keeping up with the latest trends is crucial in any business or sector. While stakeholders are aware of the trends that are on the surface, TMR Researchers find trends that are deeply entrenched in the particular market or sector. The reports are constantly updated with the latest trends so that the stakeholders and CXOs can derive benefits from the trends and generate good revenues.

Regional Assessment

Demography forms an important part of the growth pattern of all the markets. Diving deep into the demographics enables maximum output from specific areas. The TMR Research team assesses every region and picks out the vital points that have a large impact on the growth of a market.

Industrial Analogy

The analysts at TMR Research conduct an all-round analysis on the competitive landscape of the market. The observations recorded by the analysts are added to the reports so that every stakeholder gets a glimpse of the competitive scenario and frame their business plans according to the situation.

COVID-19 Impact

The COVID-19 outbreak has changed the growth projections of numerous sectors and businesses. The analysts at TMR Research have conducted a conscientious survey on the markets after the pandemic struck. The analysts have put forth their brilliant and well-researched opinions in the report. The opinions will help the stakeholders to plan their strategy accordingly.

The reports offer answers to the top 7 questions that revolve around the growth of the market

  • What are the diverse growth parameters influencing the market?
  • Which regions will contribute largely to the growth of the market
  • What are the recent innovations and technological advancements in the market?
  • What are the emerging trends across the market?
  • How has COVID-19 affected the market?
  • What will be the post-pandemic scenario of the market?
  • What are the major threats that will dent the growth prospects of the market?