The North America Vehicle-To-Grid (V2G) Market would witness market growth of 24.8% CAGR during the forecast period (2023-2030).
The market refers to a dynamic ecosystem where electric vehicles (EVs) equipped with bidirectional charging capabilities interact with the electrical grid to provide various energy services. Moreover, within the market for this, electric vehicle batteries function as adaptable energy storage resources capable of storing excess power generated by renewable sources, including solar and wind, and subsequently returning it to the power grid during periods of high demand or peak load.
In the evolving energy and transportation landscape, a revolutionary concept has emerged at the intersection of electric vehicles and the electrical grid V2G technology. With its potential to reshape the dynamics of energy storage, distribution, and consumption, V2G represents a groundbreaking approach to grid management and sustainable transportation. As the grapples with the urgent need to decarbonize energy systems and mitigate the impacts of climate change, V2G emerges as a beacon of innovation, offering a transformative solution that transcends the traditional boundaries between transportation and energy sectors.
The Mexican government's strategic plan to improve mobility and increase clean energy generation aligns with the goals and objectives of the market. As per the International Trade Administration (ITA), the Mexican government has a strategic plan to improve mobility by replacing local transportation with zero-emission vehicles. By 2024, they intend to increase the proportion of electricity generated using renewable energy sources from 25 to 35 percent. Therefore, the rising sales of EVs and government initiatives to promote clean mobility in the region are propelling the market's growth.
The US market dominated the North America 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 $2,626.3 Million by 2030. The Canada market is experiencing a CAGR of 27.6% during (2023 - 2030). Additionally, The Mexico market would exhibit a CAGR of 26.5% during (2023 - 2030).
Free Valuable Insights: The 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 U.S., Mexico, Canada, and Rest of North America.
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.
North America 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
- US
- Canada
- Mexico
- Rest of North America
Chapter 1. Market Scope & Methodology
1.1 Market Definition
1.2 Objectives
1.3 Market Scope
1.4 Segmentation
1.4.1 North America Vehicle-To-Grid (V2G) Market, by Technology
1.4.2 North America Vehicle-To-Grid (V2G) Market, by Vehicle Type
1.4.3 North America Vehicle-To-Grid (V2G) Market, by Charging Type
1.4.4 North America Vehicle-To-Grid (V2G) Market, by Component
1.4.5 North America Vehicle-To-Grid (V2G) Market, by Country
1.5 Methodology for the research
Chapter 2. Market at a Glance
2.1 Key Highlights
Chapter 3. Market Overview
3.1 Introduction
3.1.1 Overview
3.1.1.1 Market Composition and Scenario
3.2 Key Factors Impacting the Market
3.2.1 Market Drivers
3.2.2 Market Restraints
3.2.3 Market Opportunities
3.2.4 Market Challenges
3.3 Porter Five Forces Analysis
Chapter 4. Strategies Deployed in Vehicle-To-Grid (V2G) Market
Chapter 5. North America Vehicle-To-Grid (V2G) Market by Technology
5.1 North America Power Management Market by Region
5.2 North America Software Market by Region
Chapter 6. North America Vehicle-To-Grid (V2G) Market by Vehicle Type
6.1 North America Battery Electric Vehicles Market by Country
6.2 North America Plug In Hybrid Electric Vehicles Market by Country
6.3 North America Fuel Cell Vehicles (FCVs) Market by Country
Chapter 7. North America Vehicle-To-Grid (V2G) Market by Charging Type
7.1 North America Unidirectional Charging Market by Country
7.2 North America Bidirectional Charging Market by Country
Chapter 8. North America Vehicle-To-Grid (V2G) Market by Component
8.1 North America Electric Vehicle Supply Equipment (EVSE) Market by Country
8.2 North America Smart Meters Market by Country
8.3 North America Home Energy Management (HEM) Market by Country
8.4 North America Others Market by Country
Chapter 9. North America Vehicle-To-Grid (V2G) Market by Country
9.1 US Vehicle-To-Grid (V2G) Market
9.1.1 US Vehicle-To-Grid (V2G) Market by Technology
9.1.2 US Vehicle-To-Grid (V2G) Market by Vehicle Type
9.1.3 US Vehicle-To-Grid (V2G) Market by Charging Type
9.1.4 US Vehicle-To-Grid (V2G) Market by Component
9.2 Canada Vehicle-To-Grid (V2G) Market
9.2.1 Canada Vehicle-To-Grid (V2G) Market by Technology
9.2.2 Canada Vehicle-To-Grid (V2G) Market by Vehicle Type
9.2.3 Canada Vehicle-To-Grid (V2G) Market by Charging Type
9.2.4 Canada Vehicle-To-Grid (V2G) Market by Component
9.3 Mexico Vehicle-To-Grid (V2G) Market
9.3.1 Mexico Vehicle-To-Grid (V2G) Market by Technology
9.3.2 Mexico Vehicle-To-Grid (V2G) Market by Vehicle Type
9.3.3 Mexico Vehicle-To-Grid (V2G) Market by Charging Type
9.3.4 Mexico Vehicle-To-Grid (V2G) Market by Component
9.4 Rest of North America Vehicle-To-Grid (V2G) Market
9.4.1 Rest of North America Vehicle-To-Grid (V2G) Market by Technology
9.4.2 Rest of North America Vehicle-To-Grid (V2G) Market by Vehicle Type
9.4.3 Rest of North America Vehicle-To-Grid (V2G) Market by Charging Type
9.4.4 Rest of North America Vehicle-To-Grid (V2G) Market by Component
Chapter 10. Company Profiles
10.1 ABB Group
10.1.1 Company Overview
10.1.2 Financial Analysis
10.1.3 Segmental and Regional Analysis
10.1.4 Research & Development Expense
10.1.5 Recent strategies and developments:
10.1.5.1 Partnerships, Collaborations, and Agreements:
10.1.5.2 Product Launches and Product Expansions:
10.1.5.3 Acquisition and Mergers:
10.1.6 SWOT Analysis
10.2 Denso Corporation
10.2.1 Company Overview
10.2.2 Financial Analysis
10.2.3 Regional Analysis
10.2.4 SWOT Analysis
10.3 Hitachi, Ltd.
10.3.1 Company Overview
10.3.2 Financial Analysis
10.3.3 Segmental and Regional Analysis
10.3.4 Research & Development Expenses
10.3.5 Recent strategies and developments:
10.3.5.1 Partnerships, Collaborations, and Agreements:
10.3.5.2 Product Launches and Product Expansions:
10.3.6 SWOT Analysis
10.4 Honda Motor Co. Ltd.
10.4.1 Company Overview
10.4.2 Financial Analysis
10.4.3 Research & Development Expense
10.4.4 Recent strategies and developments:
10.4.4.1 Partnerships, Collaborations, and Agreements:
10.4.5 SWOT Analysis
10.5 Indra Sistemas, S.A.
10.5.1 Company Overview
10.5.2 Financial Analysis
10.5.3 Segmental and Regional Analysis
10.5.4 Research & Development Expenses
10.5.5 SWOT Analysis
10.6 Nissan Motor Corporation
10.6.1 Company Overview
10.6.2 Financial Analysis
10.6.3 Segmental and Regional Analysis
10.6.4 Research & Development Expenses
10.6.5 Recent strategies and developments:
10.6.5.1 Product Launches and Product Expansions:
10.6.6 SWOT Analysis
10.7 NRG Energy, Inc.
10.7.1 Company Overview
10.7.2 Financial Analysis
10.7.3 Segmental and Regional Analysis
10.7.4 SWOT Analysis
10.8 Toyota Industries Corporation
10.8.1 Company Overview
10.8.2 Financial Analysis
10.8.3 Segmental and Regional Analysis
10.8.4 Research & Development Expense
10.8.5 Recent strategies and developments:
10.8.5.1 Partnerships, Collaborations, and Agreements:
10.8.6 SWOT Analysis
10.9 Fermata Energy
10.9.1 Company Overview
10.9.2 SWOT Analysis
10.10. Wallbox N.V.
10.10.1 Company Overview
10.10.2 Financial Analysis
10.10.3 Segmental and Regional Analysis
10.10.4 SWOT Analysis
TABLE 1 North America Vehicle-To-Grid (V2G) Market, 2019 - 2022, USD Million
TABLE 2 North America Vehicle-To-Grid (V2G) Market, 2023 - 2030, USD Million
TABLE 3 North America Vehicle-To-Grid (V2G) Market by Technology, 2019 - 2022, USD Million
TABLE 4 North America Vehicle-To-Grid (V2G) Market by Technology, 2023 - 2030, USD Million
TABLE 5 North America Power Management Market by Region, 2019 - 2022, USD Million
TABLE 6 North America Power Management Market by Region, 2023 - 2030, USD Million
TABLE 7 North America Software Market by Region, 2019 - 2022, USD Million
TABLE 8 North America Software Market by Region, 2023 - 2030, USD Million
TABLE 9 North America Vehicle-To-Grid (V2G) Market by Vehicle Type, 2019 - 2022, USD Million
TABLE 10 North America Vehicle-To-Grid (V2G) Market by Vehicle Type, 2023 - 2030, USD Million
TABLE 11 North America Battery Electric Vehicles Market by Country, 2019 - 2022, USD Million
TABLE 12 North America Battery Electric Vehicles Market by Country, 2023 - 2030, USD Million
TABLE 13 North America Plug In Hybrid Electric Vehicles Market by Country, 2019 - 2022, USD Million
TABLE 14 North America Plug In Hybrid Electric Vehicles Market by Country, 2023 - 2030, USD Million
TABLE 15 North America Fuel Cell Vehicles (FCVs) Market by Country, 2019 - 2022, USD Million
TABLE 16 North America Fuel Cell Vehicles (FCVs) Market by Country, 2023 - 2030, USD Million
TABLE 17 North America Vehicle-To-Grid (V2G) Market by Charging Type, 2019 - 2022, USD Million
TABLE 18 North America Vehicle-To-Grid (V2G) Market by Charging Type, 2023 - 2030, USD Million
TABLE 19 North America Unidirectional Charging Market by Country, 2019 - 2022, USD Million
TABLE 20 North America Unidirectional Charging Market by Country, 2023 - 2030, USD Million
TABLE 21 North America Bidirectional Charging Market by Country, 2019 - 2022, USD Million
TABLE 22 North America Bidirectional Charging Market by Country, 2023 - 2030, USD Million
TABLE 23 North America Vehicle-To-Grid (V2G) Market by Component, 2019 - 2022, USD Million
TABLE 24 North America Vehicle-To-Grid (V2G) Market by Component, 2023 - 2030, USD Million
TABLE 25 North America Electric Vehicle Supply Equipment (EVSE) Market by Country, 2019 - 2022, USD Million
TABLE 26 North America Electric Vehicle Supply Equipment (EVSE) Market by Country, 2023 - 2030, USD Million
TABLE 27 North America Smart Meters Market by Country, 2019 - 2022, USD Million
TABLE 28 North America Smart Meters Market by Country, 2023 - 2030, USD Million
TABLE 29 North America Home Energy Management (HEM) Market by Country, 2019 - 2022, USD Million
TABLE 30 North America Home Energy Management (HEM) Market by Country, 2023 - 2030, USD Million
TABLE 31 North America Others Market by Country, 2019 - 2022, USD Million
TABLE 32 North America Others Market by Country, 2023 - 2030, USD Million
TABLE 33 North America Vehicle-To-Grid (V2G) Market by Country, 2019 - 2022, USD Million
TABLE 34 North America Vehicle-To-Grid (V2G) Market by Country, 2023 - 2030, USD Million
TABLE 35 US Vehicle-To-Grid (V2G) Market, 2019 - 2022, USD Million
TABLE 36 US Vehicle-To-Grid (V2G) Market, 2023 - 2030, USD Million
TABLE 37 US Vehicle-To-Grid (V2G) Market by Technology, 2019 - 2022, USD Million
TABLE 38 US Vehicle-To-Grid (V2G) Market by Technology, 2023 - 2030, USD Million
TABLE 39 US Vehicle-To-Grid (V2G) Market by Vehicle Type, 2019 - 2022, USD Million
TABLE 40 US Vehicle-To-Grid (V2G) Market by Vehicle Type, 2023 - 2030, USD Million
TABLE 41 US Vehicle-To-Grid (V2G) Market by Charging Type, 2019 - 2022, USD Million
TABLE 42 US Vehicle-To-Grid (V2G) Market by Charging Type, 2023 - 2030, USD Million
TABLE 43 US Vehicle-To-Grid (V2G) Market by Component, 2019 - 2022, USD Million
TABLE 44 US Vehicle-To-Grid (V2G) Market by Component, 2023 - 2030, USD Million
TABLE 45 Canada Vehicle-To-Grid (V2G) Market, 2019 - 2022, USD Million
TABLE 46 Canada Vehicle-To-Grid (V2G) Market, 2023 - 2030, USD Million
TABLE 47 Canada Vehicle-To-Grid (V2G) Market by Technology, 2019 - 2022, USD Million
TABLE 48 Canada Vehicle-To-Grid (V2G) Market by Technology, 2023 - 2030, USD Million
TABLE 49 Canada Vehicle-To-Grid (V2G) Market by Vehicle Type, 2019 - 2022, USD Million
TABLE 50 Canada Vehicle-To-Grid (V2G) Market by Vehicle Type, 2023 - 2030, USD Million
TABLE 51 Canada Vehicle-To-Grid (V2G) Market by Charging Type, 2019 - 2022, USD Million
TABLE 52 Canada Vehicle-To-Grid (V2G) Market by Charging Type, 2023 - 2030, USD Million
TABLE 53 Canada Vehicle-To-Grid (V2G) Market by Component, 2019 - 2022, USD Million
TABLE 54 Canada Vehicle-To-Grid (V2G) Market by Component, 2023 - 2030, USD Million
TABLE 55 Mexico Vehicle-To-Grid (V2G) Market, 2019 - 2022, USD Million
TABLE 56 Mexico Vehicle-To-Grid (V2G) Market, 2023 - 2030, USD Million
TABLE 57 Mexico Vehicle-To-Grid (V2G) Market by Technology, 2019 - 2022, USD Million
TABLE 58 Mexico Vehicle-To-Grid (V2G) Market by Technology, 2023 - 2030, USD Million
TABLE 59 Mexico Vehicle-To-Grid (V2G) Market by Vehicle Type, 2019 - 2022, USD Million
TABLE 60 Mexico Vehicle-To-Grid (V2G) Market by Vehicle Type, 2023 - 2030, USD Million
TABLE 61 Mexico Vehicle-To-Grid (V2G) Market by Charging Type, 2019 - 2022, USD Million
TABLE 62 Mexico Vehicle-To-Grid (V2G) Market by Charging Type, 2023 - 2030, USD Million
TABLE 63 Mexico Vehicle-To-Grid (V2G) Market by Component, 2019 - 2022, USD Million
TABLE 64 Mexico Vehicle-To-Grid (V2G) Market by Component, 2023 - 2030, USD Million
TABLE 65 Rest of North America Vehicle-To-Grid (V2G) Market, 2019 - 2022, USD Million
TABLE 66 Rest of North America Vehicle-To-Grid (V2G) Market, 2023 - 2030, USD Million
TABLE 67 Rest of North America Vehicle-To-Grid (V2G) Market by Technology, 2019 - 2022, USD Million
TABLE 68 Rest of North America Vehicle-To-Grid (V2G) Market by Technology, 2023 - 2030, USD Million
TABLE 69 Rest of North America Vehicle-To-Grid (V2G) Market by Vehicle Type, 2019 - 2022, USD Million
TABLE 70 Rest of North America Vehicle-To-Grid (V2G) Market by Vehicle Type, 2023 - 2030, USD Million
TABLE 71 Rest of North America Vehicle-To-Grid (V2G) Market by Charging Type, 2019 - 2022, USD Million
TABLE 72 Rest of North America Vehicle-To-Grid (V2G) Market by Charging Type, 2023 - 2030, USD Million
TABLE 73 Rest of North America Vehicle-To-Grid (V2G) Market by Component, 2019 - 2022, USD Million
TABLE 74 Rest of North America Vehicle-To-Grid (V2G) Market by Component, 2023 - 2030, USD Million
TABLE 75 Key Information – ABB Group
TABLE 76 Key Information – Denso Corporation
TABLE 77 Key Information – hitachi ltd.
TABLE 78 key Information – Honda Motor Co. Ltd.
TABLE 79 Key Information – Indra Sistemas, S.A.
TABLE 80 Key information – Nissan Motor Corporation
TABLE 81 Key Information – nrg energy, inc.
TABLE 82 Key Information – Toyota Industries Corporation
TABLE 83 Key Information – Fermata Energy
TABLE 84 Key Information – Wallbox N.V.
List of Figures
FIG 1 Methodology for the research
FIG 2 North America 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 North America Vehicle-To-Grid (V2G) Market share by Technology, 2022
FIG 6 North America Vehicle-To-Grid (V2G) Market share by Technology, 2030
FIG 7 North America Vehicle-To-Grid (V2G) Market by Technology, 2019 - 2030, USD Million
FIG 8 North America Vehicle-To-Grid (V2G) Market share by Vehicle Type, 2022
FIG 9 North America Vehicle-To-Grid (V2G) Market share by Vehicle Type, 2030
FIG 10 North America Vehicle-To-Grid (V2G) Market by Vehicle Type, 2019 - 2030, USD Million
FIG 11 North America Vehicle-To-Grid (V2G) Market share by Charging Type, 2022
FIG 12 North America Vehicle-To-Grid (V2G) Market share by Charging Type, 2030
FIG 13 North America Vehicle-To-Grid (V2G) Market by Charging Type, 2019 - 2030, USD Million
FIG 14 North America Vehicle-To-Grid (V2G) Market share by Component, 2022
FIG 15 North America Vehicle-To-Grid (V2G) Market share by Component, 2030
FIG 16 North America Vehicle-To-Grid (V2G) Market by Component, 2019 - 2030, USD Million
FIG 17 North America Vehicle-To-Grid (V2G) Market share by Country, 2022
FIG 18 North America Vehicle-To-Grid (V2G) Market share by Country, 2030
FIG 19 North America 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.