PUBLISHER: Grand View Research | PRODUCT CODE: 1575089
PUBLISHER: Grand View Research | PRODUCT CODE: 1575089
The global vehicle-to-grid technology market size was estimated at USD 3,450.14 million in 2023 and is projected to grow at a CAGR of 26.62% from 2024 to 2030. The market is experiencing robust growth driven by several key factors. Firstly, the increasing adoption of electric vehicles (EVs) is a major catalyst, as more consumers and businesses transition to EVs, creating a larger pool of vehicles capable of bidirectional energy flow. This technology allows EVs to not only draw power from the grid but also return excess energy, enhancing grid stability and efficiency.
The potential for EV owners to generate income by selling stored energy back to the grid adds an attractive financial incentive, making vehicle-to-grid (V2G) systems appealing to both individuals and businesses. Moreover, advancements in battery technology and smart grid infrastructure are facilitating the implementation of V2G solutions, paving the way for a more sustainable energy future. Overall, the convergence of these factors positions vehicle-to-grid (V2G) technology as a critical component in the evolution of energy management systems.
Global Vehicle-to-grid Technology Market Report Segmentation
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the global vehicle-to-grid technology market report based on the vehicle type, component, application, and region: