Vehicle-to-Grid Technology Market, By Vehicle Type; By Application; By End User; By Region, Global Trend Analysis, Competitive Landscape & Forecast, 2019-2031

Description

Global Vehicle-to-Grid (V2G) Technology Market Zooming 5.8X to Surpass USD 22 Billion by 2031

Global Vehicle-to-Grid (V2G) Technology Market is flourishing because of the rapid adoption of electric vehicles (EVs), coupled with supportive government policies and incentives, and the growing integration of renewable energy sources.

BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated Global Vehicle-to-Grid (V2G) Technology Market size at USD 3.85 billion in 2024. During the forecast period between 2025 and 2031, BlueWeave expects Global Vehicle-to-Grid (V2G) Technology Market size to boom at a robust CAGR of 28.5% reaching a value of USD 22.3 billion by 2031. The growth of Vehicle-to-Grid (V2G) Technology Market across the regions is propelled by the escalating adoption of electric vehicles (EVs), which broadens the infrastructure for bidirectional energy flow, enabling vehicles to both draw power from and contribute it back to the grid. This capability enhances grid resilience and efficiency, while also offering EV owners opportunities for financial returns through energy resale. Progress in battery technologies and intelligent grid infrastructure is facilitating the seamless integration of V2G systems, fostering more sustainable and efficient energy management practices. Furthermore, the increasing emphasis on renewable energy sources is amplifying the demand for innovative solutions such as V2G to optimize energy distribution. Government incentives and favorable regulatory frameworks are providing additional impetus for the deployment of V2G technologies, thereby fueling market expansion and creating opportunities for novel business models and revenue streams across the energy and automotive industries.

Impact of Escalating Geopolitical Tensions on Global Vehicle-to-Grid (V2G) Technology Market

Intensifying geopolitical tensions could disrupt the growth of Global Vehicle-to-Grid (V2G) Technology Market. Potential disruptions in the global supply chain, especially for critical components, such as semiconductors and battery materials, could lead to delays in the production and deployment of both EVs and V2G infrastructure. Increased political instability may also adversely affect international trade policies and cross-border investments, thereby impeding technological collaboration and market expansion. Furthermore, volatile energy prices and shifting government priorities in response to geopolitical conflicts could divert attention and resources from clean energy initiatives, including V2G projects. These uncertainties create a challenging operational landscape for stakeholders, potentially slowing the adoption and development of V2G technology during periods of geopolitical instability.

Asia Pacific Leads Global Vehicle-to-Grid (V2G) Technology Market

Asia Pacific currently commands the major share of Global Vehicle-to-Grid (V2G) Technology Market and is projected to sustain its dominance over the forecast period. The region's market dominance is primarily driven by governments' strong support and increasing investments in the R&D of both electric vehicle (EV) and V2G technology. As the home to major EV markets, including China, India, Japan, Vietnam, and Malaysia, Asia Pacific is experiencing rapid industrial and technological advancements that are spurring the demand for electricity and fostering the adoption of innovative energy solutions. Asia Pacific also leads in global EV production and consumption, with robust infrastructure development in major countries such as India, Japan, Singapore, and Malaysia further bolstering the growth of V2G, V2H, and V2X technologies. Notably, EV sales in Malaysia witnessed a significant surge of approximately 286% in 2023, exceeding 10,000 units, while Taiwan recorded EV registrations more than double from 7,064 in 2021 to 16,106 in 2022, underscoring the region's accelerating momentum in the EV and V2G sectors.

Competitive Landscape

Major companies in Global Vehicle-to-Grid (V2G) Technology Market include NRG Energy Inc., ABB Ltd, Toyota Shokki, The Mobility House, EDF Energy, Enel X, AC Propulsion Inc., Denso Corporation, Groupe Renault, Engie Group, Hitachi Ltd, Nuvve Corporation, OVO Energy Ltd, Honda Motor Co., Ltd, Mitsubishi Motors Corporation, and Nissan Motor Corporation. The presence of high number of companies intensify the market competition as they compete to gain a significant market share. These companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches to further enhance their market share.

The in-depth analysis of the report provides information about growth potential, upcoming trends, and Global Vehicle-to-Grid (V2G) Technology Market statistics. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in Global Vehicle-to-Grid (V2G) Technology Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.

Product Code: BWC25356

1. Research Framework

1.1. Research Objective
1.2. Product Overview
1.3. Market Segmentation

2. Executive Summary

3. Global Vehicle-to-Grid (V2G) Technology Market Insights

3.1. End User Value Chain Analysis
3.2. DROC Analysis
- 3.2.1. Growth Drivers
  - 3.2.1.1. Increasing Adoption of Electric Vehicles
  - 3.2.1.2. Government Policies & Incentives
  - 3.2.1.3. Integration of Renewable Energy Sources
- 3.2.2. Restraints
  - 3.2.2.1. High Initial Costs
  - 3.2.2.2. Battery Degradation Concerns
- 3.2.3. Opportunities
  - 3.2.3.1. Integration with Smart Homes & Buildings
  - 3.2.3.2. Fleet Electrification & Management
- 3.2.4. Challenges
  - 3.2.4.1. Limited Consumer Awareness & Acceptance
  - 3.2.4.2. Inadequate Charging Infrastructure & Grid Connectivity
3.3. Technological Advancements/Recent Developments
3.4. Regulatory Framework
3.5. Porter's Five Forces Analysis
- 3.5.1. Bargaining Power of Suppliers
- 3.5.2. Bargaining Power of Buyers
- 3.5.3. Threat of New Entrants
- 3.5.4. Threat of Substitutes
- 3.5.5. Intensity of Rivalry

4. Global Vehicle-to-Grid (V2G) Technology Market: Marketing Strategies

5. Global Vehicle-to-Grid (V2G) Technology Market: Pricing Analysis

6. Global Vehicle-to-Grid (V2G) Technology Market: Geography Analysis

6.1. Global Vehicle-to-Grid (V2G) Technology Market, Geographical Analysis, 2024
6.2. Global Vehicle-to-Grid (V2G) Technology, Market Attractiveness Analysis, 2024-2031

7. Global Vehicle-to-Grid (V2G) Technology Market Overview

7.1. Market Size & Forecast, 2019-2031
- 7.1.1. By Value (USD Billion)
7.2. Market Share & Forecast
- 7.2.1. By Vehicle Type
  - 7.2.1.1. Battery Electric Vehicles
  - 7.2.1.2. Pug-in Hybrid Electric Vehicles
  - 7.2.1.3. Fuel Cell Electric Vehicles
- 7.2.2. By Application
  - 7.2.2.1. Ancillary Services
  - 7.2.2.2. Peak Shaving
  - 7.2.2.3. Load Balancing
  - 7.2.2.4. Renewable Energy Integration
  - 7.2.2.5. Backup Power
- 7.2.3. By End User
  - 7.2.3.1. Residential
  - 7.2.3.2. Commercial
  - 7.2.3.3. Utilities
  - 7.2.3.4. Aggregators
- 7.2.4. By Region
  - 7.2.4.1. North America
  - 7.2.4.2. Europe
  - 7.2.4.3. Asia Pacific (APAC)
  - 7.2.4.4. Latin America (LATAM)
  - 7.2.4.5. Middle East and Africa (MEA)

8. North America Vehicle-to-Grid (V2G) Technology Market

8.1. Market Size & Forecast, 2019-2031
- 8.1.1. By Value (USD Billion)
8.2. Market Share & Forecast
- 8.2.1. By Vehicle Type
- 8.2.2. By Application
- 8.2.3. By End User
- 8.2.4. By Country
  - 8.2.4.1. United States
  - 8.2.4.1.1. By Vehicle Type
  - 8.2.4.1.2. By Application
  - 8.2.4.1.3. By End User
  - 8.2.4.2. Canada
  - 8.2.4.2.1. By Vehicle Type
  - 8.2.4.2.2. By Application
  - 8.2.4.2.3. By End User

9. Europe Vehicle-to-Grid (V2G) Technology Market

9.1. Market Size & Forecast, 2019-2031
- 9.1.1. By Value (USD Billion)
9.2. Market Share & Forecast
- 9.2.1. By Vehicle Type
- 9.2.2. By Application
- 9.2.3. By End User
- 9.2.4. By Country
  - 9.2.4.1. Germany
  - 9.2.4.1.1. By Vehicle Type
  - 9.2.4.1.2. By Application
  - 9.2.4.1.3. By End User
  - 9.2.4.2. United Kingdom
  - 9.2.4.2.1. By Vehicle Type
  - 9.2.4.2.2. By Application
  - 9.2.4.2.3. By End User
  - 9.2.4.3. Italy
  - 9.2.4.3.1. By Vehicle Type
  - 9.2.4.3.2. By Application
  - 9.2.4.3.3. By End User
  - 9.2.4.4. France
  - 9.2.4.4.1. By Vehicle Type
  - 9.2.4.4.2. By Application
  - 9.2.4.4.3. By End User
  - 9.2.4.5. Spain
  - 9.2.4.5.1. By Vehicle Type
  - 9.2.4.5.2. By Application
  - 9.2.4.5.3. By End User
  - 9.2.4.6. Belgium
  - 9.2.4.6.1. By Vehicle Type
  - 9.2.4.6.2. By Application
  - 9.2.4.6.3. By End User
  - 9.2.4.7. Russia
  - 9.2.4.7.1. By Vehicle Type
  - 9.2.4.7.2. By Application
  - 9.2.4.7.3. By End User
  - 9.2.4.8. The Netherlands
  - 9.2.4.8.1. By Vehicle Type
  - 9.2.4.8.2. By Application
  - 9.2.4.8.3. By End User
  - 9.2.4.9. Rest of Europe
  - 9.2.4.9.1. By Vehicle Type
  - 9.2.4.9.2. By Application
  - 9.2.4.9.3. By End User

10. Asia Pacific Vehicle-to-Grid (V2G) Technology Market

10.1. Market Size & Forecast, 2019-2031
- 10.1.1. By Value (USD Billion)
10.2. Market Share & Forecast
- 10.2.1. By Vehicle Type
- 10.2.2. By Application
- 10.2.3. By End User
- 10.2.4. By Country
  - 10.2.4.1. China
  - 10.2.4.1.1. By Vehicle Type
  - 10.2.4.1.2. By Application
  - 10.2.4.1.3. By End User
  - 10.2.4.2. India
  - 10.2.4.2.1. By Vehicle Type
  - 10.2.4.2.2. By Application
  - 10.2.4.2.3. By End User
  - 10.2.4.3. Japan
  - 10.2.4.3.1. By Vehicle Type
  - 10.2.4.3.2. By Application
  - 10.2.4.3.3. By End User
  - 10.2.4.4. South Korea
  - 10.2.4.4.1. By Vehicle Type
  - 10.2.4.4.2. By Application
  - 10.2.4.4.3. By End User
  - 10.2.4.5. Australia and New Zealand
  - 10.2.4.5.1. By Vehicle Type
  - 10.2.4.5.2. By Application
  - 10.2.4.5.3. By End User
  - 10.2.4.6. Indonesia
  - 10.2.4.6.1. By Vehicle Type
  - 10.2.4.6.2. By Application
  - 10.2.4.6.3. By End User
  - 10.2.4.7. Malaysia
  - 10.2.4.7.1. By Vehicle Type
  - 10.2.4.7.2. By Application
  - 10.2.4.7.3. By End User
  - 10.2.4.8. Singapore
  - 10.2.4.8.1. By Vehicle Type
  - 10.2.4.8.2. By Application
  - 10.2.4.8.3. By End User
  - 10.2.4.9. Vietnam
  - 10.2.4.9.1. By Vehicle Type
  - 10.2.4.9.2. By Application
  - 10.2.4.9.3. By End User
  - 10.2.4.10. Rest of APAC
  - 10.2.4.10.1. By Vehicle Type
  - 10.2.4.10.2. By Application
  - 10.2.4.10.3. By End User

11. Latin America Vehicle-to-Grid (V2G) Technology Market

11.1. Market Size & Forecast, 2019-2031
- 11.1.1. By Value (USD Billion)
11.2. Market Share & Forecast
- 11.2.1. By Vehicle Type
- 11.2.2. By Application
- 11.2.3. By End User
- 11.2.4. By Country
  - 11.2.4.1. Brazil
  - 11.2.4.1.1. By Vehicle Type
  - 11.2.4.1.2. By Application
  - 11.2.4.1.3. By End User
  - 11.2.4.2. Mexico
  - 11.2.4.2.1. By Vehicle Type
  - 11.2.4.2.2. By Application
  - 11.2.4.2.3. By End User
  - 11.2.4.3. Argentina
  - 11.2.4.3.1. By Vehicle Type
  - 11.2.4.3.2. By Application
  - 11.2.4.3.3. By End User
  - 11.2.4.4. Peru
  - 11.2.4.4.1. By Vehicle Type
  - 11.2.4.4.2. By Application
  - 11.2.4.4.3. By End User
  - 11.2.4.5. Rest of LATAM
  - 11.2.4.5.1. By Vehicle Type
  - 11.2.4.5.2. By Application
  - 11.2.4.5.3. By End User

12. Middle East and Africa Vehicle-to-Grid (V2G) Technology Market

12.1. Market Size & Forecast, 2019-2031
- 12.1.1. By Value (USD Billion)
12.2. Market Share & Forecast
- 12.2.1. By Vehicle Type
- 12.2.2. By Application
- 12.2.3. By End User
- 12.2.4. By Country
  - 12.2.4.1. Saudi Arabia
  - 12.2.4.1.1. By Vehicle Type
  - 12.2.4.1.2. By Application
  - 12.2.4.1.3. By End User
  - 12.2.4.2. UAE
  - 12.2.4.2.1. By Vehicle Type
  - 12.2.4.2.2. By Application
  - 12.2.4.2.3. By End User
  - 12.2.4.3. Qatar
  - 12.2.4.3.1. By Vehicle Type
  - 12.2.4.3.2. By Application
  - 12.2.4.3.3. By End User
  - 12.2.4.4. Kuwait
  - 12.2.4.4.1. By Vehicle Type
  - 12.2.4.4.2. By Application
  - 12.2.4.4.3. By End User
  - 12.2.4.5. South Africa
  - 12.2.4.5.1. By Vehicle Type
  - 12.2.4.5.2. By Application
  - 12.2.4.5.3. By End User
  - 12.2.4.6. Nigeria
  - 12.2.4.6.1. By Vehicle Type
  - 12.2.4.6.2. By Application
  - 12.2.4.6.3. By End User
  - 12.2.4.7. Algeria
  - 12.2.4.7.1. By Vehicle Type
  - 12.2.4.7.2. By Application
  - 12.2.4.7.3. By End User
  - 12.2.4.8. Rest of MEA
  - 12.2.4.8.1. By Vehicle Type
  - 12.2.4.8.2. By Application
  - 12.2.4.8.3. By End User

13. Competitive Landscape

13.1. List of Key Players and Their Offerings
13.2. Global Vehicle-to-Grid (V2G) Technology Company Market Share Analysis, 2024
13.3. Competitive Benchmarking, By Operating Parameters
13.4. Key Strategic Developments (Mergers, Acquisitions, Partnerships)

14. Impact of Escalating Geopolitical Tensions on Global Vehicle-to-Grid (V2G) Technology Market

15. Company Profiles (Company Overview, Financial Matrix, Competitive Landscape, Key Personnel, Key Competitors, Contact Address, Strategic Outlook, SWOT Analysis)

15.1. NRG Energy Inc.
15.2. ABB Ltd
15.3. Toyota Shokki
15.4. The Mobility House
15.5. EDF Energy
15.6. Enel X
15.7. AC Propulsion Inc.
15.8. Denso Corporation
15.9. Groupe Renault
15.10. Engie Group
15.11. Hitachi Ltd
15.12. Nuvve Corporation
15.13. OVO Energy Ltd
15.14. Honda Motor Co., Ltd
15.15. Mitsubishi Motors Corporation
15.16. Nissan Motor Corporation
15.17. Other Prominent Players

16. Key Strategic Recommendations

17. Research Methodology

17.1. Qualitative Research
- 17.1.1. Primary & Secondary Research
17.2. Quantitative Research
17.3. Market Breakdown & Data Triangulation
- 17.3.1. Secondary Research
- 17.3.2. Primary Research
17.4. Breakdown of Primary Research Respondents, By Region
17.5. Assumptions & Limitations

*Financial information of non-listed companies can be provided as per availability.

**The segmentation and the companies are subject to modifications based on in-depth secondary research for the final deliverable