The Asia Pacific Vehicle-To-Grid (V2G) Market would witness market growth of 25.9% CAGR during the forecast period (2023-2030).
The decreasing cost of EVs is also a significant factor driving adoption. As battery costs continue to decline, the price parity between EVs and traditional vehicles is becoming more achievable. This trend is expected to accelerate the adoption of EVs, especially in markets where EVs are already competitive in terms of total cost of ownership. Changing consumer preferences and lifestyle choices are also influencing the adoption of EVs. Consumers are becoming increasingly environmentally conscious and sustainable, which has resulted in a surge in demand for goods and services that reflect these concerns. Consumers who wish to contribute to a greener future and reduce their carbon footprint are increasingly seeking EVs as a representation of environmental responsibility.
The market represents a dynamic ecosystem where EVs transition from passive electricity consumers to active energy marketplace participants. Through bidirectional charging technology, EV batteries become valuable assets, providing many grid services, including peak shaving, frequency regulation, demand response, and renewable energy integration. V2G systems empower utilities to effectively manage energy supply and demand in real-time, improve grid reliability, and promote the combination of variable renewable energy resources by utilizing the inherent flexibility of EVs.
Similarly, China's rapid expansion in new energy vehicle (NEV) production and sales, driven by government support and increasing consumer demand, presents significant opportunities for developing and expanding the market. As per the Australian National University, China's new energy vehicle production and sales have experienced high growth, reaching 7.22 million units in 2022, representing 63% of EV sales. In China, NEV was 26.3% of total new vehicle sales within China, versus slightly over 10%. The total Chinese vehicle fleet reached 417 million, including 319 million passenger cars, with about 13.1 million, or 4.1% of all passenger cars being NEV. Hence, the rising production and increasing government spending in the EV industry are driving the market's growth.
The China market dominated the Asia Pacific Vehicle-To-Grid (V2G) Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $879.8 Million by 2030. The Japan market is registering a CAGR of 25% during (2023 - 2030). Additionally, The India market would showcase a CAGR of 26.9% during (2023 - 2030).
Free Valuable Insights: The Global Vehicle-To-Grid (V2G) Market is Predict to reach $11.7 Billion by 2030, at a CAGR of 25.0%
Based on Technology, the market is segmented into Power Management and Software. Based on Vehicle Type, the market is segmented into Battery Electric Vehicles, Plug In Hybrid Electric Vehicles, and Fuel Cell Vehicles (FCVs). Based on Charging Type, the market is segmented into Unidirectional Charging and Bidirectional Charging. Based on Component, the market is segmented into Electric Vehicle Supply Equipment (EVSE), Smart Meters, Home Energy Management (HEM), and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Taiwan, and Rest of Asia Pacific.
List of Key Companies Profiled
- ABB Group
- Denso Corporation
- Hitachi, Ltd.
- Honda Motor Co. Ltd.
- Indra Sistemas, S.A.
- Nissan Motor Co., Ltd
- NRG Energy, Inc.
- Toyota Industries Corporation
- Fermata Energy
- Wallbox N.V.
Asia Pacific Vehicle-To-Grid (V2G) Market Report Segmentation
By Technology
- Power Management
- Software
By Vehicle Type
- Battery Electric Vehicles
- Plug In Hybrid Electric Vehicles
- Fuel Cell Vehicles (FCVs)
By Charging Type
- Unidirectional Charging
- Bidirectional Charging
By Component
- Electric Vehicle Supply Equipment (EVSE)
- Smart Meters
- Home Energy Management (HEM)
- Others
By Country
- China
- Japan
- India
- South Korea
- Singapore
- Taiwan
- Rest of Asia Pacific
TABLE 1 Asia Pacific Vehicle-To-Grid (V2G) Market, 2019 - 2022, USD Million
TABLE 2 Asia Pacific Vehicle-To-Grid (V2G) Market, 2023 - 2030, USD Million
TABLE 3 Asia Pacific Vehicle-To-Grid (V2G) Market by Technology, 2019 - 2022, USD Million
TABLE 4 Asia Pacific Vehicle-To-Grid (V2G) Market by Technology, 2023 - 2030, USD Million
TABLE 5 Asia Pacific Power Management Market by Country, 2019 - 2022, USD Million
TABLE 6 Asia Pacific Power Management Market by Country, 2023 - 2030, USD Million
TABLE 7 Asia Pacific Software Market by Country, 2019 - 2022, USD Million
TABLE 8 Asia Pacific Software Market by Country, 2023 - 2030, USD Million
TABLE 9 Asia Pacific Vehicle-To-Grid (V2G) Market by Vehicle Type, 2019 - 2022, USD Million
TABLE 10 Asia Pacific Vehicle-To-Grid (V2G) Market by Vehicle Type, 2023 - 2030, USD Million
TABLE 11 Asia Pacific Battery Electric Vehicles Market by Country, 2019 - 2022, USD Million
TABLE 12 Asia Pacific Battery Electric Vehicles Market by Country, 2023 - 2030, USD Million
TABLE 13 Asia Pacific Plug In Hybrid Electric Vehicles Market by Country, 2019 - 2022, USD Million
TABLE 14 Asia Pacific Plug In Hybrid Electric Vehicles Market by Country, 2023 - 2030, USD Million
TABLE 15 Asia Pacific Fuel Cell Vehicles (FCVs) Market by Country, 2019 - 2022, USD Million
TABLE 16 Asia Pacific Fuel Cell Vehicles (FCVs) Market by Country, 2023 - 2030, USD Million
TABLE 17 Asia Pacific Vehicle-To-Grid (V2G) Market by Charging Type, 2019 - 2022, USD Million
TABLE 18 Asia Pacific Vehicle-To-Grid (V2G) Market by Charging Type, 2023 - 2030, USD Million
TABLE 19 Asia Pacific Unidirectional Charging Market by Country, 2019 - 2022, USD Million
TABLE 20 Asia Pacific Unidirectional Charging Market by Country, 2023 - 2030, USD Million
TABLE 21 Asia Pacific Bidirectional Charging Market by Country, 2019 - 2022, USD Million
TABLE 22 Asia Pacific Bidirectional Charging Market by Country, 2023 - 2030, USD Million
TABLE 23 Asia Pacific Vehicle-To-Grid (V2G) Market by Component, 2019 - 2022, USD Million
TABLE 24 Asia Pacific Vehicle-To-Grid (V2G) Market by Component, 2023 - 2030, USD Million
TABLE 25 Asia Pacific Electric Vehicle Supply Equipment (EVSE) Market by Country, 2019 - 2022, USD Million
TABLE 26 Asia Pacific Electric Vehicle Supply Equipment (EVSE) Market by Country, 2023 - 2030, USD Million
TABLE 27 Asia Pacific Smart Meters Market by Country, 2019 - 2022, USD Million
TABLE 28 Asia Pacific Smart Meters Market by Country, 2023 - 2030, USD Million
TABLE 29 Asia Pacific Home Energy Management (HEM) Market by Country, 2019 - 2022, USD Million
TABLE 30 Asia Pacific Home Energy Management (HEM) Market by Country, 2023 - 2030, USD Million
TABLE 31 Asia Pacific Others Market by Country, 2019 - 2022, USD Million
TABLE 32 Asia Pacific Others Market by Country, 2023 - 2030, USD Million
TABLE 33 Asia Pacific Vehicle-To-Grid (V2G) Market by Country, 2019 - 2022, USD Million
TABLE 34 Asia Pacific Vehicle-To-Grid (V2G) Market by Country, 2023 - 2030, USD Million
TABLE 35 China Vehicle-To-Grid (V2G) Market, 2019 - 2022, USD Million
TABLE 36 China Vehicle-To-Grid (V2G) Market, 2023 - 2030, USD Million
TABLE 37 China Vehicle-To-Grid (V2G) Market by Technology, 2019 - 2022, USD Million
TABLE 38 China Vehicle-To-Grid (V2G) Market by Technology, 2023 - 2030, USD Million
TABLE 39 China Vehicle-To-Grid (V2G) Market by Vehicle Type, 2019 - 2022, USD Million
TABLE 40 China Vehicle-To-Grid (V2G) Market by Vehicle Type, 2023 - 2030, USD Million
TABLE 41 China Vehicle-To-Grid (V2G) Market by Charging Type, 2019 - 2022, USD Million
TABLE 42 China Vehicle-To-Grid (V2G) Market by Charging Type, 2023 - 2030, USD Million
TABLE 43 China Vehicle-To-Grid (V2G) Market by Component, 2019 - 2022, USD Million
TABLE 44 China Vehicle-To-Grid (V2G) Market by Component, 2023 - 2030, USD Million
TABLE 45 Japan Vehicle-To-Grid (V2G) Market, 2019 - 2022, USD Million
TABLE 46 Japan Vehicle-To-Grid (V2G) Market, 2023 - 2030, USD Million
TABLE 47 Japan Vehicle-To-Grid (V2G) Market by Technology, 2019 - 2022, USD Million
TABLE 48 Japan Vehicle-To-Grid (V2G) Market by Technology, 2023 - 2030, USD Million
TABLE 49 Japan Vehicle-To-Grid (V2G) Market by Vehicle Type, 2019 - 2022, USD Million
TABLE 50 Japan Vehicle-To-Grid (V2G) Market by Vehicle Type, 2023 - 2030, USD Million
TABLE 51 Japan Vehicle-To-Grid (V2G) Market by Charging Type, 2019 - 2022, USD Million
TABLE 52 Japan Vehicle-To-Grid (V2G) Market by Charging Type, 2023 - 2030, USD Million
TABLE 53 Japan Vehicle-To-Grid (V2G) Market by Component, 2019 - 2022, USD Million
TABLE 54 Japan Vehicle-To-Grid (V2G) Market by Component, 2023 - 2030, USD Million
TABLE 55 India Vehicle-To-Grid (V2G) Market, 2019 - 2022, USD Million
TABLE 56 India Vehicle-To-Grid (V2G) Market, 2023 - 2030, USD Million
TABLE 57 India Vehicle-To-Grid (V2G) Market by Technology, 2019 - 2022, USD Million
TABLE 58 India Vehicle-To-Grid (V2G) Market by Technology, 2023 - 2030, USD Million
TABLE 59 India Vehicle-To-Grid (V2G) Market by Vehicle Type, 2019 - 2022, USD Million
TABLE 60 India Vehicle-To-Grid (V2G) Market by Vehicle Type, 2023 - 2030, USD Million
TABLE 61 India Vehicle-To-Grid (V2G) Market by Charging Type, 2019 - 2022, USD Million
TABLE 62 India Vehicle-To-Grid (V2G) Market by Charging Type, 2023 - 2030, USD Million
TABLE 63 India Vehicle-To-Grid (V2G) Market by Component, 2019 - 2022, USD Million
TABLE 64 India Vehicle-To-Grid (V2G) Market by Component, 2023 - 2030, USD Million
TABLE 65 South Korea Vehicle-To-Grid (V2G) Market, 2019 - 2022, USD Million
TABLE 66 South Korea Vehicle-To-Grid (V2G) Market, 2023 - 2030, USD Million
TABLE 67 South Korea Vehicle-To-Grid (V2G) Market by Technology, 2019 - 2022, USD Million
TABLE 68 South Korea Vehicle-To-Grid (V2G) Market by Technology, 2023 - 2030, USD Million
TABLE 69 South Korea Vehicle-To-Grid (V2G) Market by Vehicle Type, 2019 - 2022, USD Million
TABLE 70 South Korea Vehicle-To-Grid (V2G) Market by Vehicle Type, 2023 - 2030, USD Million
TABLE 71 South Korea Vehicle-To-Grid (V2G) Market by Charging Type, 2019 - 2022, USD Million
TABLE 72 South Korea Vehicle-To-Grid (V2G) Market by Charging Type, 2023 - 2030, USD Million
TABLE 73 South Korea Vehicle-To-Grid (V2G) Market by Component, 2019 - 2022, USD Million
TABLE 74 South Korea Vehicle-To-Grid (V2G) Market by Component, 2023 - 2030, USD Million
TABLE 75 Singapore Vehicle-To-Grid (V2G) Market, 2019 - 2022, USD Million
TABLE 76 Singapore Vehicle-To-Grid (V2G) Market, 2023 - 2030, USD Million
TABLE 77 Singapore Vehicle-To-Grid (V2G) Market by Technology, 2019 - 2022, USD Million
TABLE 78 Singapore Vehicle-To-Grid (V2G) Market by Technology, 2023 - 2030, USD Million
TABLE 79 Singapore Vehicle-To-Grid (V2G) Market by Vehicle Type, 2019 - 2022, USD Million
TABLE 80 Singapore Vehicle-To-Grid (V2G) Market by Vehicle Type, 2023 - 2030, USD Million
TABLE 81 Singapore Vehicle-To-Grid (V2G) Market by Charging Type, 2019 - 2022, USD Million
TABLE 82 Singapore Vehicle-To-Grid (V2G) Market by Charging Type, 2023 - 2030, USD Million
TABLE 83 Singapore Vehicle-To-Grid (V2G) Market by Component, 2019 - 2022, USD Million
TABLE 84 Singapore Vehicle-To-Grid (V2G) Market by Component, 2023 - 2030, USD Million
TABLE 85 Taiwan Vehicle-To-Grid (V2G) Market, 2019 - 2022, USD Million
TABLE 86 Taiwan Vehicle-To-Grid (V2G) Market, 2023 - 2030, USD Million
TABLE 87 Taiwan Vehicle-To-Grid (V2G) Market by Technology, 2019 - 2022, USD Million
TABLE 88 Taiwan Vehicle-To-Grid (V2G) Market by Technology, 2023 - 2030, USD Million
TABLE 89 Taiwan Vehicle-To-Grid (V2G) Market by Vehicle Type, 2019 - 2022, USD Million
TABLE 90 Taiwan Vehicle-To-Grid (V2G) Market by Vehicle Type, 2023 - 2030, USD Million
TABLE 91 Taiwan Vehicle-To-Grid (V2G) Market by Charging Type, 2019 - 2022, USD Million
TABLE 92 Taiwan Vehicle-To-Grid (V2G) Market by Charging Type, 2023 - 2030, USD Million
TABLE 93 Taiwan Vehicle-To-Grid (V2G) Market by Component, 2019 - 2022, USD Million
TABLE 94 Taiwan Vehicle-To-Grid (V2G) Market by Component, 2023 - 2030, USD Million
TABLE 95 Rest of Asia Pacific Vehicle-To-Grid (V2G) Market, 2019 - 2022, USD Million
TABLE 96 Rest of Asia Pacific Vehicle-To-Grid (V2G) Market, 2023 - 2030, USD Million
TABLE 97 Rest of Asia Pacific Vehicle-To-Grid (V2G) Market by Technology, 2019 - 2022, USD Million
TABLE 98 Rest of Asia Pacific Vehicle-To-Grid (V2G) Market by Technology, 2023 - 2030, USD Million
TABLE 99 Rest of Asia Pacific Vehicle-To-Grid (V2G) Market by Vehicle Type, 2019 - 2022, USD Million
TABLE 100 Rest of Asia Pacific Vehicle-To-Grid (V2G) Market by Vehicle Type, 2023 - 2030, USD Million
TABLE 101 Rest of Asia Pacific Vehicle-To-Grid (V2G) Market by Charging Type, 2019 - 2022, USD Million
TABLE 102 Rest of Asia Pacific Vehicle-To-Grid (V2G) Market by Charging Type, 2023 - 2030, USD Million
TABLE 103 Rest of Asia Pacific Vehicle-To-Grid (V2G) Market by Component, 2019 - 2022, USD Million
TABLE 104 Rest of Asia Pacific Vehicle-To-Grid (V2G) Market by Component, 2023 - 2030, USD Million
TABLE 105 Key Information – ABB Group
TABLE 106 Key Information – Denso Corporation
TABLE 107 Key Information – hitachi ltd.
TABLE 108 key Information – Honda Motor Co. Ltd.
TABLE 109 Key Information – Indra Sistemas, S.A.
TABLE 110 Key information – Nissan Motor Corporation
TABLE 111 Key Information – nrg energy, inc.
TABLE 112 Key Information – Toyota Industries Corporation
TABLE 113 Key Information – Fermata Energy
TABLE 114 Key Information – Wallbox N.V.
List of Figures
FIG 1 Methodology for the research
FIG 2 Asia Pacific Vehicle-To-Grid (V2G) Market, 2019 - 2030, USD Million
FIG 3 Key Factors Impacting Vehicle-To-Grid (V2G) Market
FIG 4 Porter’s Five Forces Analysis – Vehicle-To-Grid (V2G) Market
FIG 5 Asia Pacific Vehicle-To-Grid (V2G) Market share by Technology, 2022
FIG 6 Asia Pacific Vehicle-To-Grid (V2G) Market share by Technology, 2030
FIG 7 Asia Pacific Vehicle-To-Grid (V2G) Market by Technology, 2019 - 2030, USD Million
FIG 8 Asia Pacific Vehicle-To-Grid (V2G) Market share by Vehicle Type, 2022
FIG 9 Asia Pacific Vehicle-To-Grid (V2G) Market share by Vehicle Type, 2030
FIG 10 Asia Pacific Vehicle-To-Grid (V2G) Market by Vehicle Type, 2019 - 2030, USD Million
FIG 11 Asia Pacific Vehicle-To-Grid (V2G) Market share by Charging Type, 2022
FIG 12 Asia Pacific Vehicle-To-Grid (V2G) Market share by Charging Type, 2030
FIG 13 Asia Pacific Vehicle-To-Grid (V2G) Market by Charging Type, 2019 - 2030, USD Million
FIG 14 Asia Pacific Vehicle-To-Grid (V2G) Market share by Component, 2022
FIG 15 Asia Pacific Vehicle-To-Grid (V2G) Market share by Component, 2030
FIG 16 Asia Pacific Vehicle-To-Grid (V2G) Market by Component, 2019 - 2030, USD Million
FIG 17 Asia Pacific Vehicle-To-Grid (V2G) Market share by Country, 2022
FIG 18 Asia Pacific Vehicle-To-Grid (V2G) Market share by Country, 2030
FIG 19 Asia Pacific Vehicle-To-Grid (V2G) Market by Country, 2019 - 2030, USD Million
FIG 20 Recent strategies and developments: ABB Group
FIG 21 SWOT Analysis: ABB Group
FIG 22 SWOT Analysis: Denso Corporation
FIG 23 Recent strategies and developments: Hitachi, Ltd.
FIG 24 Swot Analysis: Hitachi, Ltd.
FIG 25 SWOT Analysis: Honda Motor Co. Ltd.
FIG 26 Swot Analysis: Indra Sistemas, S.A.
FIG 27 Swot Analysis: Nissan Motor Corporation
FIG 28 Swot Analysis: NRG Energy, Inc.
FIG 29 SWOT Analysis: Toyota Industries Corporation
FIG 30 Swot Analysis: Fermata Energy
FIG 31 Swot Analysis: Wallbox N.V.