Market Overview:
Vehicle-to-grid (V2G) is a technology that allows energy to be pushed back from the battery of an electrical vehicle to the ability grid. it's a system that has the power of bi-directional and manageable power flow among vehicles and therefore the electrical grids. The unfold of the vehicle to grid technology market is currently augmentative to homes, schools, and fleets. Increasing apprehension concerning environmental fortification has prompted the analysis that greatly propelled the electrical quality around the globe.
Attributes | Details |
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Study Period | 2017-2027 |
Base Year | 2021 |
Forecast Period | 2022-2027 |
Historical Period | 2017-2021 |
Unit | Value (USD Million) |
Key Companies Profiled | Nissan Motor Corporation (Japan), Mitsubishi Motors Corporation (Japan), BMW AG (Germany), Kia Motors Corp. (South Korea), Tesla, Inc. (United States), Hyundai Motor Company (South Korea), Daimler AG (Germany), NUVVE Corporation (United States), Groupe Renault (France) and Honda Motor Co., Ltd. (Japan) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region or narrow down segments in the final scope subject to feasibility |
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics of major and emerging geographies across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Players landscape impacting the growth of the market. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Key Players of Vehicle-to-Grid Technology Market Study:
Nissan Motor Corporation (Japan), Mitsubishi Motors Corporation (Japan), BMW AG (Germany), Kia Motors Corp. (South Korea), Tesla, Inc. (United States), Hyundai Motor Company (South Korea), Daimler AG (Germany), NUVVE Corporation (United States), Groupe Renault (France) and Honda Motor Co., Ltd. (Japan)
Vehicle-to-Grid Technology Market Segment Analysis
Scope | Sub-Segments |
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Application / End User | Peak Load Levelling, Backup Power and Others |
Type | Unidirectional V2G or V1G, Bidirectional local V2G and Bidirectional V2G |
Vehicle | Battery Electric Vehicles (BEVs),Plug-In Hybrid Electric Vehicles (PHEVs),Fuel Cell Vehicles (FCVs) |
Offering | Hardware {Electric Chargers, Batteries},Software |
Influencing Trend:
Integration of Digital Medium for Power Control and Autonomous Control Settings
Market Growth Drivers:
Growing Demand or the Electric Vehicles around the Globe in Developing and Developed Nations and Reduction in Carbon Emissions and Energy Savings
Challenges:
Complex Infrastructure and Technical Issues for Battery Outage due to Lack of Robust Infrastructure
Restraints:
High Cost involved in Employing Power to Grid Technologies
Opportunities:
Rising Demand for the Smart Electric Chargers in Different Applications for the Balanced Energy Distribution required for the Specific Task and Increasing Number of Electric Charging Stations and Need for Infrastructure
Some of the other players that are also part of study are ENGIE Group (France) and OVO Energy Ltd (United Kingdom).
Latest Industry Highlights:
In 2020, Hyundai Motor Company launched V2G (Vehicle to Grid) electric vehicles that can use electricity stored in a battery of another electric vehicle. V2G system can reduce the maximum amount of electricity used by buildings by supplying electricity and prevent power outages and even resell electricity.
In 2020, Nuvve Corporation (Nuvve), a green energy technology company and the global leader in vehicle-to-grid (V2G) technology, and The Lion Electric Co. (Lion Electric), a leading original equipment manufacturer of all-electric heavy-duty vehicles based collaborated for vehicle-to-grid (V2G) technology as a standard feature of their zero-emission school buses. This collaboration will provide customers with the most advanced technology currently available bringing cutting-edge V2G technology and Expertise.
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Vehicle-to-Grid Technology market.
In order to reach an exhaustive list of functional and relevant players, various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep into important geographies by players, and a thorough validation test is conducted to reach the most relevant players for survey in Vehicle-to-Grid Technology market.
Identification of total players or companies operating in the global market which is further concentrated to fewer or most impacting players which are considered under the reports scope. In order to make a priority list sorting is done based on revenue generated based on the latest reporting with the help of paid databases such as Factiva, Bloomberg, etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Vehicle-To-Grid Technology, Research Institutes, End-User Industry and Others.
This helps us to gather the data for the players revenue, operating cycle and expense, profit along with product or service growth, etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that include Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, Annual reports, press releases etc.