The latest study collated and published by Nova one advisor analyzes the historical and present-day scenario of the global Vehicle-To-Grid Technology industry to accurately gauge its growth potential. The study presents detailed information about important growth factors, restraints, future scopes, cost analysis and key trends during the forecast timeframe 2022 to 2030.

According to Nova one advisor, the global Vehicle-To-Grid Technology industry was valued at USD 2.80 billion in 2021 and it is expected to hit around USD 21.43 billion by 2030 with a CAGR of 50.2% during the forecast period 2022 to 2030.

Vehicle to grid, or V2G technology, is similar to solar panels that generate power on their own. Likewise, an electric vehicle can redistribute, stock, or even generate power with the help of the vehicle-to-grid technology. Parked electric vehicles are ideal, which only consume power, thus vehicle to grid system helps in feeding back electricity that is contained in a parked electric car's batteries into the electrical grid. The smart grid endorses data sharing among consumers and suppliers and experiences a major issue of energy storage, as storage of large quantities of electricity is very difficult. However, the generated electricity in a vehicle is excessive or not enough to power the network and therefore, most of the output gets wasted. Here, car to grid technology, manages the electricity by balancing it out in real-time, and further adjusts the flow of electricity.

An in-depth analysis of the vehicle-to-grid technology market trends reveal that the market is likely advance significantly due to the rapid increase and development of electrification trend in the global automobile industry. Stringent government regulations associated with the electric vehicle battery cells, onboard chargers, designs of the battery pack, and thermal propagation are anticipated to offer the significant growth opportunity for the vehicle-to-grid technology market.

Request Free Sample of This Report@ https://www.novaoneadvisor.com/report/sample/6028

Key Takeaways:

• The U.S. Vehicle-To-Grid Technology market was estimated at USD 385 million in 2021 and growing at a CAGR of 46.59% from 2022 to 2030.


• Europe Vehicle-To-Grid Technology market was estimated at USD 400.27million in 2021 and growing at a CAGR of 47.06% from 2022 to 2030.


• Asia Pacific Vehicle-To-Grid Technology market was estimated at USD 342.46 million in 2021 and growing at a CAGR of 50.45% from 2022 to 2030.


• Latin America Vehicle-To-Grid Technology market was estimated at USD 22.99 million in 2021and growing at a CAGR of 45.69% from 2022 to 2030.


• North Africa Vehicle-To-Grid Technology market was estimated at USD 6.04 million in 2021 and growing at a CAGR of 45.38% from 2022 to 2030.


• South Africa Vehicle-To-Grid Technology market was estimated at USD 7.35 million in 2021 and growing at a CAGR of 46.15% from 2022 to 2030.


• GCC Vehicle-To-Grid Technology market was estimated at USD 7.89 million in 2021 and growing at a CAGR of 45.72% from 2022 to 2030.

Immediate Delivery Available | Buy this Premium Research Report@ https://www.novaoneadvisor.com/report/checkout/6028

Increased Demand for Natural Resources to Power Electric Vehicles Boosts Market

A vehicle-to-grid technology battery is considered as a bi-directional charging battery that can provide power to the vehicle's electric grid and can also charge the vehicle battery. Such V2G technology is gaining traction among manufacturers of electric vehicles due to its advantages of bi-directional charging. Shortage of renewable energy sources for power generation and a scarcity of power for electric vehicles further makes the network unstable and propels the demand for more energy storage in a vehicle. However, increased power storage capacity is made available using V2G technology, which can absorb unused energy and prevent it from wastage.

Furthermore, it is also assumed that V2G technology can be utilized as an alternative energy source for domestic use, where an electric vehicle owner can supply power to his home, which is drawn by V2G battery. Such technology is still in the nascent phase, and it's expected to create opportunities for the vehicle-to-grid technology market during the forecast period.

Government Regulations and Investments to Increase Adoption of Battery Electric and Hybrid Electric Vehicles Propel Market

Government schemes and benefits across the globe, which include Zero-Emission Vehicle Program of California, U.S., European Green Cars Initiative of European Union, and Faster Adoption and Manufacturing of Electric Vehicles (FAME) scheme of India, provide incentives and tax benefits to consumers and manufacturers and further boost the demand and adoption of electric vehicles.

According to the European Environment Agency report, 2018, the air quality across Europe deteriorated due to rising vehicle emissions, which further caused rise in healthcare cost to approximately US$ 80 Bn. However, such rise in healthcare cost due to vehicle pollution further leads to enactment of government norms in order to curb vehicle emissions. Thus, rising government regulations and investments is driving the vehicle-to-grid technology market.

Regional Outlook of Global Vehicle-to-Grid Technology Market

Analysis of the global vehicle-to-grid technology market status and challenges reveals that Europe held a dominant share of the global market, in terms of revenue, in 2021. The vehicle to grid technology in the U.K., witnessed investment by several manufacturers in the design and development of certain technologies in electric mobility and the smart energy management segment, which have led to the development of reversible charging solutions. Moreover, Groupe Renault has deployed bi-directional chargers, Renault Z.E Smart Charge, across Europe, which offer sensible and smart energy consumption. Europe has more number of on-road electric vehicles and electric vehicle manufacturers, which also boosts the vehicle-to-grid technology market. Furthermore, stringent vehicle emission norms and tax benefits and incentives provided by the governments across Europe for the adoption of electric vehicles have augmented the vehicle-to-grid market size of the region.

Asia Pacific is likely to be the second-most lucrative region of the global V2G market. Companies in Asia Pacific are creating V2G charging networks in addition to charging infrastructure. In September 2020, Nuvve Corporation stated that it would supply the essential technology for a Japan-based vehicle-to-grid (V2G) project that sought to commercialize electricity supply-demand management by 2021. Furthermore, China has taken the initiative to upgrade charging infrastructure across its states to make the transition to electric vehicles simpler. In India, according to the Automotive Research Association of India (ARAI) more than 200 EV charging stations are expected to be installed nationwide. Additionally, Tata Power, an India-based electric utility system provider, supports the National Electric Mobility Mission of the Government of India, and it has developed the country's first set of EV charging stations in Mumbai (India), which makes it simple for customers to access energy-efficient solutions.

North America also held a significant share of the global vehicle-to-grid technology market, in terms of revenue, in 2021. Additionally, v2g compatible cars of 2022, in the U.S. include Nissan LEAF, Nissan e-NV200, and Mitsubishi Outlander PHEV, are CHAdeMo, which are compatible with V2G technology. Such vehicle-to-grid solutions offer several benefits and prompt numerous other manufacturers to enter vehicle-to-grid compatible market.

Some of the prominent players in the Vehicle-To-Grid Technology market include:

Energie Baden Wuerttemberg AG (EnBW), Endesa SA, NextEra Energy, Inc. (NEE), PG&E Corporation, NUVVE LTD, AC Battery Type Inc., Denso Corporation, EnerDel Inc., Coritech Services Inc., Engie Group, EV Grid, Hitachi Ltd., Nissan Motor Company Ltd., NRG Energy Inc., OVO Energy Ltd., AC Battery Type, Mitsubishi Motors Corporation.

Segments Covered in the Report

This research report offers market revenue, sales volume, production assessment and prognoses by classifying it on the basis of various aspects. Further, this research study investigates market size, production, consumption and its development trends at global, regional, and country level for the period of 2017 to 2030 and covers subsequent region in its scope:

• Component
  
  
  
  • Electric Vehicle Supply Equipment (EVSE)
  
  
  • Home Energy Management (HEM) Systems
  
  
  • Smart Meters
  
  
  • Software Solutions
  
  
  
  


• Charging Type
  
  
  
  • Unidirectional Charging
  
  
  • Bidirectional Charging
  
  
  
  


• Battery
  
  
  
  • By Battery Type
    
    
    
    • Lithium-ion
    
    
    • Nickel-Metal Hydride
    
    
    • Lead-acid
    
    
    • Ultra-capacitors
    
    
    
    
  
  
  • By Charging Type
    
    
    
    • 20-40kWh
    
    
    • 41-70kWh
    
    
    • 71-100kWh
    
    
    • Above 100kWh
    
    
    
    
  
  
  
  


• Vehicle Type
  
  
  
  • Battery Electric Vehicle (BEV)
  
  
  • Plug-In Hybrid Electric Vehicle (PHEV)
  
  
  • Fuel Cell Electric Vehicle (FCEV)
  
  
  
  


• Application
  
  
  
  • Domestic
  
  
  • Commercial
  
  
  
  

Full Report is Ready | For Purchase Inquiry@ https://www.novaoneadvisor.com/report/checkout/6028

You can place an order or ask any questions, please feel free to sales@novaoneadvisor.com| +1 9197 992 333