Bi-directional Electric Vehicle Charger Market, Opportunity, Growth Drivers, Industry Trend Analysis and Forecast, 2024-2032

Description

The Global Bi-directional Electric Vehicle Charger Market was valued at USD 1.4 billion in 2023 and is projected to grow at a CAGR of over 22.8% from 2024 to 2032. The surge in electric vehicle (EV) adoption and the escalating need for charging infrastructure are primary catalysts for this market growth. For example, in 2023, global registrations of electric cars surged by nearly 14 million units, bringing the total to 40 million on the roads. This marks a significant jump from 2022, with an additional 3.5 million electric cars sold, translating to a 35% year-on-year growth. Such robust adoption highlights the swift transition towards electric mobility, spurred by rising consumer demand, favorable regulatory frameworks, and technological advancements in EVs.

The bi-directional EV charger market is also seeing a notable uptick in the adoption of vehicle-to-grid (V2G) technology. V2G empowers electric vehicles to not just draw power for charging but also return surplus energy back to the grid. This momentum is fueled by an increasing focus on grid stability and the seamless integration of renewable energy sources.

V2G systems are also pivotal in balancing energy supply and demand, especially with the growing reliance on intermittent renewables like wind and solar. By transforming EVs into mobile energy storage units, V2G not only bolsters energy resilience but also offers potential financial perks for EV owners, such as incentives or credits for energy returned to the grid.

The industry is divided into power output, vehicle, application, sales channel, end user, and region.

Segmented by power output, the market categorizes into level 1, level 2, and level 3. In 2023, the level 2 segment accounted for roughly USD 700 million. The rising appetite for swift charging solutions is propelling the adoption of Level 2 bi-directional chargers. Offering a marked speed advantage over Level 1 chargers, Level 2 chargers are increasingly favored by consumers prioritizing reduced recharging times.

When segmented by sales channel, the bi-directional electric vehicle charger market divides into OEM and aftermarket. The OEM segment is projected to surpass USD 6.2 billion by 2032. Automakers are increasingly forging strategic alliances with bi-directional charger manufacturers, enriching their product portfolios and offering bundled solutions. Such collaborations empower OEMs to present integrated charging solutions, finely tuned to their vehicles, thereby enhancing consumer appeal. For instance, in September 2022, Fermata Energy and Nissan in the U.S. forged a strategic alliance centered on the Nissan Leaf.

North America led the bi-directional electric vehicle charger market, commanding roughly 35% share in 2023. Governments across North America, especially in the U.S. and Canada, are actively promoting electric vehicle (EV) adoption and renewable energy integration. Initiatives like supporting vehicle-to-grid (V2G) technology and subsidizing bi-directional chargers are also instrumental in propelling market growth.

Product Code: 10630

Chapter 1 Methodology and Scope

1.1 Research design
- 1.1.1 Research approach
- 1.1.2 Data collection methods
1.2 Base estimates and calculations
- 1.2.1 Base year calculation
- 1.2.2 Key trends for market estimation
1.3 Forecast model
1.4 Primary research and validation
- 1.4.1 Primary sources
- 1.4.2 Data mining sources
1.5 Market definitions

Chapter 2 Executive Summary

2.1 Industry 360° synopsis, 2021 - 2032

Chapter 3 Industry Insights

3.1 Industry ecosystem analysis
3.2 Supplier landscape
- 3.2.1 Electric vehicle manufacturers
- 3.2.2 Charging station providers
- 3.2.3 Service providers
- 3.2.4 System integrators
- 3.2.5 End-user
3.3 Profit margin analysis
3.4 Technology and innovation landscape
3.5 Patent analysis
3.6 Key news and initiatives
3.7 Regulatory landscape
3.8 Impact forces
- 3.8.1 Growth drivers
  - 3.8.1.1 Growing adoption of electric vehicles
  - 3.8.1.2 Advancements in Vehicle-to-Grid (V2G) technology
  - 3.8.1.3 Expansion of charging infrastructure
  - 3.8.1.4 Rapid technological investments by prominent players
- 3.8.2 Industry pitfalls and challenges
  - 3.8.2.1 High initial costs
  - 3.8.2.2 Grid integration issues
3.9 Growth potential analysis
3.10 Porter's analysis
3.11 PESTEL analysis

Chapter 4 Competitive Landscape, 2023

4.1 Introduction
4.2 Company market share analysis
4.3 Competitive positioning matrix
4.4 Strategic outlook matrix

Chapter 5 Market Estimates and Forecast, By Power Output, 2021 - 2032 ($Bn, Units)

5.1 Key trends
5.2 Level 1 (up to 2 kW)
5.3 Level 2 (3-22 kW)
5.4 Level 3 (Above 22 kW)

Chapter 6 Market Estimates and Forecast, By Vehicle, 2021 - 2032 ($Bn, Units)

6.1 Key trends
6.2 Battery electric
6.3 Plug-in hybrid electric
6.4 Fuel cell electric
6.5 Hybrid electric
6.6 Others

Chapter 7 Market Estimates and Forecast, By Sales Channel, 2021 - 2032 ($Bn, Units)

7.1 Key trends
7.2 OEM
7.3 Aftermarket

Chapter 8 Market Estimates and Forecast, By Application, 2021 - 2032 ($Bn, Units)

8.1 Key trends
8.2 Vehicle-to-grid
8.3 Vehicle-to-home
8.4 Vehicle-to-load

Chapter 9 Market Estimates and Forecast, By End User, 2021 - 2032 ($Bn, Units)

9.1 Key trends
9.2 Residential
9.3 Commercial

Chapter 10 Market Estimates and Forecast, By Region, 2021 - 2032 ($Bn, Units)

10.1 Key trends
10.2 North America
- 10.2.1 U.S.
- 10.2.2 Canada
10.3 Europe
- 10.3.1 UK
- 10.3.2 Germany
- 10.3.3 France
- 10.3.4 Italy
- 10.3.5 Spain
- 10.3.6 Russia
- 10.3.7 Nordics
- 10.3.8 Rest of Europe
10.4 Asia Pacific
- 10.4.1 China
- 10.4.2 India
- 10.4.3 Japan
- 10.4.4 South Korea
- 10.4.5 ANZ
- 10.4.6 Southeast Asia
- 10.4.7 Rest of Asia Pacific
10.5 Latin America
- 10.5.1 Brazil
- 10.5.2 Mexico
- 10.5.3 Argentina
- 10.5.4 Rest of Latin America
10.6 MEA
- 10.6.1 South Africa
- 10.6.2 Saudi Arabia
- 10.6.3 UAE
- 10.6.4 Rest of MEA

Chapter 11 Company Profiles

11.1 ABB
11.2 Autel
11.3 Delta Electronics, Inc.
11.4 Enphase Energy
11.5 Fermata Energy
11.6 Hitachi Industrial products
11.7 Indra Renewable Technologies
11.8 Power Research Electronics B.V.
11.9 Scame Parre SpA
11.10 Tesla, Inc.
11.11 Toyota Motor Corporation
11.12 Wallbox USA Inc.