According to a new report, published by KBV research, The Global Vehicle-To-Grid (V2G) Market size is expected to reach $11.7 billion by 2030, rising at a market growth of 25.0% CAGR during the forecast period.
The Power Management segment is leading the Global Vehicle-To-Grid (V2G) Market by Technology in 2022; thereby, achieving a market value of $9.1 billion by 2030. Power management systems in V2G-enabled vehicles regulate the charging and discharging of EV batteries based on grid conditions, energy demand, and user preferences. These systems optimize charging schedules to take advantage of off-peak electricity rates, maximize renewable energy utilization, and minimize grid stress during peak demand. In the same way, they oversee the discharge of substances to facilitate grid services, including demand response, voltage regulation, and frequency regulation.
The Plug In Hybrid Electric Vehicles segment is anticipating a CAGR of 25.4% during (2023 - 2030). Plug in hybrid electric vehicles (PHEVs) offer flexibility to drivers by combining an electric motor with an internal combustion engine. This dual-powertrain configuration allows drivers to switch between electric and hybrid modes based on their driving needs and charging availability. PHEV owners can benefit from electric propulsion for short trips and the extended range the internal combustion engine provides for longer journeys.
The Unidirectional Charging segment dominated the Global Vehicle-To-Grid (V2G) Market by Charging Type in 2022; thereby, achieving a market value of $7.8 billion by 2030. Unidirectional charging systems involve one-way power flow from the grid to the electric vehicle battery, eliminating additional hardware, software, and communication protocols required for bidirectional charging. As a result, unidirectional charging solutions have become accessible and affordable for EV owners, charging infrastructure providers, and utilities, driving their adoption in the vehicle-to-grid (V2G) market.
The Home Energy Management (HEM) market would showcase a CAGR of 25.7% during (2023 - 2030). HEM systems are becoming increasingly important in the context of V2G technology. As more electric vehicles (EVs) with bidirectional charging capabilities enter the market, homeowners require HEM systems to manage the interaction between their EVs, home energy systems, and the grid effectively. HEM systems enable homeowners to optimize their energy usage, monitor charging schedules, and participate in V2G programs to maximize the value of their EVs as grid resources.
Full Report: https://www.kbvresearch.com/vehicle-to-grid-market/
The Europe region dominated the Global Vehicle-To-Grid (V2G) Market by Region in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $3.9 billion by 2030. The North America region is expected to witness a CAGR of 24.8% during (2023 - 2030). Additionally, The Asia Pacific region is expected to witness a CAGR of 25.9% during (2023 - 2030).
By Technology
By Vehicle Type
By Charging Type
By Component
By Geography
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