Dublin, Nov. 29, 2021 (GLOBE NEWSWIRE) -- The "Vehicle-to-Grid Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026" report has been added to ResearchAndMarkets.com's offering.
The global vehicle-to-grid market grew at a CAGR of around 15% during 2015-2020. Looking forward, the global vehicle-to-grid market is expected to exhibit strong growth during the next five years.
The increasing utilization of smart power generation systems and the widespread adoption of autonomous vehicles, represent as the key factors driving the growth of the market. In comparison to the conventionally used internal combustion automobiles, hybrid and electric vehicles (H/EVs) operate more efficiently and have minimal fuel consumption. As a result, with the rising deployment of bidirectional charging stations, consumers can conveniently charge their vehicles and store excess energy for powering the grid.
Additionally, extensive innovations in the manufacturing processes of automobile batteries, is acting as another growth-inducing factor. Novel automobile batteries have a longer operational life and can sustain multiple charging cycles without deteriorating. Moreover, the advent of vehicle-to-everything (V2X) technology as an extension to V2G with a smaller size, lighter weight and simpler installation process, is also contributing to the market growth.
Other factors, including extensive infrastructural developments, along with the implementation of favorable government policies promoting smart grid projects, are anticipated to drive the market further.
Market Segmentation
The report provides an analysis of the key trends in each sub-segment of the global vehicle-to-grid market, along with forecasts at the global, regional and country level from 2021-2026. The report has categorized the market based on region, solution type, vehicle type, charging type and application.
Breakup by Solution Type
- Electric Vehicle Supply Equipment (EVSE)
- Smart Meters
- Home Energy Management (HEM) Systems
- Software Solutions
Breakup by Vehicle Type
- Battery Electric Vehicle (BEV)
- Fuel Cell Electric Vehicle (FCEV)
- Plug-In Hybrid Electric Vehicle (PHEV)
Breakup by Charging Type
- Unidirectional Charging
- Bidirectional Charging
Breakup by Application
- Peak Power Sales
- Spinning Reserves
- Base Load Power
- Others
Breakup by Region
- North America
- Asia-Pacific
- Europe
- Latin America
- Middle East & Africa
Competitive Landscape
The competitive landscape of the industry has also been examined along with the profiles of the key players being:
- AC Propulsion Inc.
- Coritech Services Inc.
- DENSO Corporation
- Enerdel Inc.
- ENGIE Group
- EV Grid
- Hitachi Ltd.
- Nissan Motor Company Ltd.
- NRG Energy Inc.
- OVO Energy Ltd.
Key Questions Answered in the Report
- How has the global vehicle-to-grid market performed so far and how will it perform in the coming years?
- What has been the impact of COVID-19 on the global vehicle-to-grid market?
- What are the key regional markets?
- What is the breakup of the market based on the solution type?
- What is the breakup of the market based on the vehicle type?
- What is the breakup of the market based on the charging type?
- What is the breakup of the market based on the application?
- What are the various stages in the value chain of the industry?
- What are the key driving factors and challenges in the industry?
- What is the structure of the global vehicle-to-grid market and who are the key players?
- What is the degree of competition in the industry?
For more information about this report visit https://www.researchandmarkets.com/r/wz4lc
