Vehicle to Grid Market Developments by 2031
Vehicle-to-Grid enables bidirectional demand response services by connecting various types of electric vehicles such as battery-powered electric vehicles, fuel-cell-powered electric vehicles, and plug-in hybrid electric vehicles to the transmission network. It is a system to do. Power exchange provisioning. One of the key drivers of the growth of the Vehicle-to-Grid market is the increasing adoption of EVs around the world. This is impacting the demand for EV charging infrastructure such as one-way and two-way power flow charging. In addition, the expansion of the V2G industry is accelerating due to the expansion of government policies to promote the introduction of green electric vehicles and the growing public awareness of environmental issues.
MARKET DYNAMICS
Profit opportunities in the V2G technology market have enabled BEV and PHEV (Plug-in Hybrid Electric Vehicle) manufacturers to provide consumers with additional vehicle-related services. Because software is an important part of V2G technology, vehicle owners can earn additional revenue from companies seeking to capture critical data generated by intelligent and connected communications technology. This important data helps automakers and technology providers provide better service to consumers. This connected network helps players in the V2G technology market to easily and cost-effectively gain important insights into value chain consumers and other stakeholders.
MARKET SCOPE
The "Global Vehicle to Grid Market Analysis to 2031" is a specialized and in-depth study of the Vehicle to Grid market with a special focus on the global market trend analysis. The report aims to provide an overview of the Vehicle to Grid market with detailed market segmentation by component, application, and geography. The global vehicle to grid market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading Vehicle to Grid market players and offers key trends and opportunities in the vehicle to grid market.
MARKET SEGMENTATION
The global vehicle to grid market is segmented based on component and application. Based on its product type, vehicle to grid market can be segmented into Smart Meters, Electric Vehicle Supply Equipment (Evse), Software, Home Energy Management (HEM). Based on end use industry, vehicle to grid market can be segmented into Battery Electric Vehicles (Bevs), Fuel Cell Vehicles (Fcvs) And Plug-In Hybrid Electric Vehicles (Phevs)
IMPACT OF COVID-19 ON VEHICLE TO GRID MARKET
The blockade imposed by the COVID-19 pandemic has temporarily banned import / export, manufacturing and processing activities in various industries and utilities, reducing electricity demand from these consumers. In addition, the construction and freezing of new power infrastructure, renewable power plants, grids and other power plants due to labor unavailability and widening supply-demand gaps is projected to impede market growth during the pandemic.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides overview and forecast of the global Vehicle to Grid Market based on various segments. It also provides market size and forecast estimates from year 2017 to 2031 with respect to five major regions, namely, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America. The Vehicle to Grid Market by each region is later sub-segmented by respective countries and segments. The report covers analysis and forecast of 18 countries globally along with current trend and opportunities prevailing in the region.
The report analyzes factors affecting Vehicle to Grid Market from both demand and supply side and further evaluates market dynamics effecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely, North America, Europe, APAC, MEA and South America after evaluating political, economic, social and technological factors effecting the Vehicle to Grid market in these regions.
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The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides overview and forecast of the global Vehicle to Grid Market based on various segments. It also provides market size and forecast estimates from year 2017 to 2031 with respect to five major regions, namely, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America. The Vehicle to Grid Market by each region is later sub-segmented by respective countries and segments. The report covers analysis and forecast of 18 countries globally along with current trend and opportunities prevailing in the region.
The report analyzes factors affecting Vehicle to Grid Market from both demand and supply side and further evaluates market dynamics effecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely, North America, Europe, APAC, MEA and South America after evaluating political, economic, social and technological factors effecting the Vehicle to Grid market in these regions.
MARKET PLAYERS
The reports cover key developments in the Vehicle to Grid market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for expansion of business and customer base of market players. The market players from Vehicle to Grid market are anticipated to lucrative growth opportunities in the future with the rising demand for Vehicle to Grid market. Below mentioned is the list of few companies engaged in the Vehicle to Grid market.
The report also includes the profiles of key Vehicle to Grid market companies along with their SWOT analysis and market strategies. In addition, the report focuses on leading industry players with information such as company profiles, components and services offered, financial information of last 3 years, key development in past five years.
- Nissan Motor Corporation
- Mitsubishi Motors Corporation
- NUVVE Corporation
- ENGIE Group
- OVO Energy Ltd
- Groupe Renault
- Honda Motor Co., Ltd.
- AC Propulsion Inc.
- Coritech Services Inc.
- DENSO Corporation
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Vehicle To Grid Market - By Component
1.3.2 Vehicle To Grid Market - By Application
1.3.3 Vehicle To Grid Market - By Region
1.3.3.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. VEHICLE TO GRID MARKET LANDSCAPE
4.1. OVERVIEW
4.2. PORTER'S FIVE FORCES ANALYSIS
4.2.1 Bargaining Power of Buyers
4.2.1 Bargaining Power of Suppliers
4.2.1 Threat of Substitute
4.2.1 Threat of New Entrants
4.2.1 Competitive Rivalry
4.3. EXPERT OPINIONS
5. VEHICLE TO GRID MARKET - KEY MARKET DYNAMICS
5.1. KEY MARKET DRIVERS
5.2. KEY MARKET RESTRAINTS
5.3. KEY MARKET OPPORTUNITIES
5.4. FUTURE TRENDS
5.5. IMPACT ANALYSIS OF DRIVERS AND RESTRAINTS
6. VEHICLE TO GRID MARKET - GLOBAL MARKET ANALYSIS
6.1. VEHICLE TO GRID - GLOBAL MARKET OVERVIEW
6.2. VEHICLE TO GRID - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. VEHICLE TO GRID MARKET - REVENUE AND FORECASTS TO 2028 - COMPONENT
7.1. OVERVIEW
7.2. COMPONENT MARKET FORECASTS AND ANALYSIS
7.3. SMART METERS
7.3.1. Overview
7.3.2. Smart Meters Market Forecast and Analysis
7.4. ELECTRIC VEHICLE SUPPLY EQUIPMENT (EVSE)
7.4.1. Overview
7.4.2. Electric Vehicle Supply Equipment (EVSE) Market Forecast and Analysis
7.5. SOFTWARE
7.5.1. Overview
7.5.2. Software Market Forecast and Analysis
7.6. HOME ENERGY MANAGEMENT (HEM)
7.6.1. Overview
7.6.2. Home Energy Management (HEM) Market Forecast and Analysis
8. VEHICLE TO GRID MARKET - REVENUE AND FORECASTS TO 2028 - APPLICATION
8.1. OVERVIEW
8.2. APPLICATION MARKET FORECASTS AND ANALYSIS
8.3. BATTERY ELECTRIC VEHICLES (BEVS)
8.3.1. Overview
8.3.2. Battery Electric Vehicles (BEVs) Market Forecast and Analysis
8.4. FUEL CELL VEHICLES (FCVS)
8.4.1. Overview
8.4.2. Fuel Cell Vehicles (FCVs) Market Forecast and Analysis
8.5. PLUG-IN HYBRID ELECTRIC VEHICLES (PHEVS)
8.5.1. Overview
8.5.2. Plug-in Hybrid Electric Vehicles (PHEVs) Market Forecast and Analysis
9. VEHICLE TO GRID MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
9.1. NORTH AMERICA
9.1.1 North America Vehicle To Grid Market Overview
9.1.2 North America Vehicle To Grid Market Forecasts and Analysis
9.1.3 North America Vehicle To Grid Market Forecasts and Analysis - By Component
9.1.4 North America Vehicle To Grid Market Forecasts and Analysis - By Application
9.1.5 North America Vehicle To Grid Market Forecasts and Analysis - By Countries
9.1.5.1 United States Vehicle To Grid Market
9.1.5.1.1 United States Vehicle To Grid Market by Component
9.1.5.1.2 United States Vehicle To Grid Market by Application
9.1.5.2 Canada Vehicle To Grid Market
9.1.5.2.1 Canada Vehicle To Grid Market by Component
9.1.5.2.2 Canada Vehicle To Grid Market by Application
9.1.5.3 Mexico Vehicle To Grid Market
9.1.5.3.1 Mexico Vehicle To Grid Market by Component
9.1.5.3.2 Mexico Vehicle To Grid Market by Application
9.2. EUROPE
9.2.1 Europe Vehicle To Grid Market Overview
9.2.2 Europe Vehicle To Grid Market Forecasts and Analysis
9.2.3 Europe Vehicle To Grid Market Forecasts and Analysis - By Component
9.2.4 Europe Vehicle To Grid Market Forecasts and Analysis - By Application
9.2.5 Europe Vehicle To Grid Market Forecasts and Analysis - By Countries
9.2.5.1 Germany Vehicle To Grid Market
9.2.5.1.1 Germany Vehicle To Grid Market by Component
9.2.5.1.2 Germany Vehicle To Grid Market by Application
9.2.5.2 France Vehicle To Grid Market
9.2.5.2.1 France Vehicle To Grid Market by Component
9.2.5.2.2 France Vehicle To Grid Market by Application
9.2.5.3 Italy Vehicle To Grid Market
9.2.5.3.1 Italy Vehicle To Grid Market by Component
9.2.5.3.2 Italy Vehicle To Grid Market by Application
9.2.5.4 United Kingdom Vehicle To Grid Market
9.2.5.4.1 United Kingdom Vehicle To Grid Market by Component
9.2.5.4.2 United Kingdom Vehicle To Grid Market by Application
9.2.5.5 Russia Vehicle To Grid Market
9.2.5.5.1 Russia Vehicle To Grid Market by Component
9.2.5.5.2 Russia Vehicle To Grid Market by Application
9.2.5.6 Rest of Europe Vehicle To Grid Market
9.2.5.6.1 Rest of Europe Vehicle To Grid Market by Component
9.2.5.6.2 Rest of Europe Vehicle To Grid Market by Application
9.3. ASIA-PACIFIC
9.3.1 Asia-Pacific Vehicle To Grid Market Overview
9.3.2 Asia-Pacific Vehicle To Grid Market Forecasts and Analysis
9.3.3 Asia-Pacific Vehicle To Grid Market Forecasts and Analysis - By Component
9.3.4 Asia-Pacific Vehicle To Grid Market Forecasts and Analysis - By Application
9.3.5 Asia-Pacific Vehicle To Grid Market Forecasts and Analysis - By Countries
9.3.5.1 Australia Vehicle To Grid Market
9.3.5.1.1 Australia Vehicle To Grid Market by Component
9.3.5.1.2 Australia Vehicle To Grid Market by Application
9.3.5.2 China Vehicle To Grid Market
9.3.5.2.1 China Vehicle To Grid Market by Component
9.3.5.2.2 China Vehicle To Grid Market by Application
9.3.5.3 India Vehicle To Grid Market
9.3.5.3.1 India Vehicle To Grid Market by Component
9.3.5.3.2 India Vehicle To Grid Market by Application
9.3.5.4 Japan Vehicle To Grid Market
9.3.5.4.1 Japan Vehicle To Grid Market by Component
9.3.5.4.2 Japan Vehicle To Grid Market by Application
9.3.5.5 South Korea Vehicle To Grid Market
9.3.5.5.1 South Korea Vehicle To Grid Market by Component
9.3.5.5.2 South Korea Vehicle To Grid Market by Application
9.3.5.6 Rest of Asia-Pacific Vehicle To Grid Market
9.3.5.6.1 Rest of Asia-Pacific Vehicle To Grid Market by Component
9.3.5.6.2 Rest of Asia-Pacific Vehicle To Grid Market by Application
9.4. MIDDLE EAST AND AFRICA
9.4.1 Middle East and Africa Vehicle To Grid Market Overview
9.4.2 Middle East and Africa Vehicle To Grid Market Forecasts and Analysis
9.4.3 Middle East and Africa Vehicle To Grid Market Forecasts and Analysis - By Component
9.4.4 Middle East and Africa Vehicle To Grid Market Forecasts and Analysis - By Application
9.4.5 Middle East and Africa Vehicle To Grid Market Forecasts and Analysis - By Countries
9.4.5.1 South Africa Vehicle To Grid Market
9.4.5.1.1 South Africa Vehicle To Grid Market by Component
9.4.5.1.2 South Africa Vehicle To Grid Market by Application
9.4.5.2 Saudi Arabia Vehicle To Grid Market
9.4.5.2.1 Saudi Arabia Vehicle To Grid Market by Component
9.4.5.2.2 Saudi Arabia Vehicle To Grid Market by Application
9.4.5.3 U.A.E Vehicle To Grid Market
9.4.5.3.1 U.A.E Vehicle To Grid Market by Component
9.4.5.3.2 U.A.E Vehicle To Grid Market by Application
9.4.5.4 Rest of Middle East and Africa Vehicle To Grid Market
9.4.5.4.1 Rest of Middle East and Africa Vehicle To Grid Market by Component
9.4.5.4.2 Rest of Middle East and Africa Vehicle To Grid Market by Application
9.5. SOUTH AND CENTRAL AMERICA
9.5.1 South and Central America Vehicle To Grid Market Overview
9.5.2 South and Central America Vehicle To Grid Market Forecasts and Analysis
9.5.3 South and Central America Vehicle To Grid Market Forecasts and Analysis - By Component
9.5.4 South and Central America Vehicle To Grid Market Forecasts and Analysis - By Application
9.5.5 South and Central America Vehicle To Grid Market Forecasts and Analysis - By Countries
9.5.5.1 Brazil Vehicle To Grid Market
9.5.5.1.1 Brazil Vehicle To Grid Market by Component
9.5.5.1.2 Brazil Vehicle To Grid Market by Application
9.5.5.2 Argentina Vehicle To Grid Market
9.5.5.2.1 Argentina Vehicle To Grid Market by Component
9.5.5.2.2 Argentina Vehicle To Grid Market by Application
9.5.5.3 Rest of South and Central America Vehicle To Grid Market
9.5.5.3.1 Rest of South and Central America Vehicle To Grid Market by Component
9.5.5.3.2 Rest of South and Central America Vehicle To Grid Market by Application
10. INDUSTRY LANDSCAPE
10.1. MERGERS AND ACQUISITIONS
10.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
10.3. NEW PRODUCT LAUNCHES
10.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
11. VEHICLE TO GRID MARKET, KEY COMPANY PROFILES
11.1. NISSAN MOTOR CORPORATION
11.1.1. Key Facts
11.1.2. Business Description
11.1.3. Products and Services
11.1.4. Financial Overview
11.1.5. SWOT Analysis
11.1.6. Key Developments
11.2. MITSUBISHI MOTORS CORPORATION
11.2.1. Key Facts
11.2.2. Business Description
11.2.3. Products and Services
11.2.4. Financial Overview
11.2.5. SWOT Analysis
11.2.6. Key Developments
11.3. NUVVE CORPORATION
11.3.1. Key Facts
11.3.2. Business Description
11.3.3. Products and Services
11.3.4. Financial Overview
11.3.5. SWOT Analysis
11.3.6. Key Developments
11.4. ENGIE GROUP
11.4.1. Key Facts
11.4.2. Business Description
11.4.3. Products and Services
11.4.4. Financial Overview
11.4.5. SWOT Analysis
11.4.6. Key Developments
11.5. OVO ENERGY LTD
11.5.1. Key Facts
11.5.2. Business Description
11.5.3. Products and Services
11.5.4. Financial Overview
11.5.5. SWOT Analysis
11.5.6. Key Developments
11.6. GROUPE RENAULT
11.6.1. Key Facts
11.6.2. Business Description
11.6.3. Products and Services
11.6.4. Financial Overview
11.6.5. SWOT Analysis
11.6.6. Key Developments
11.7. HONDA MOTOR CO., LTD.
11.7.1. Key Facts
11.7.2. Business Description
11.7.3. Products and Services
11.7.4. Financial Overview
11.7.5. SWOT Analysis
11.7.6. Key Developments
11.8. AC PROPULSION INC.
11.8.1. Key Facts
11.8.2. Business Description
11.8.3. Products and Services
11.8.4. Financial Overview
11.8.5. SWOT Analysis
11.8.6. Key Developments
11.9. CORITECH SERVICES INC.
11.9.1. Key Facts
11.9.2. Business Description
11.9.3. Products and Services
11.9.4. Financial Overview
11.9.5. SWOT Analysis
11.9.6. Key Developments
11.10. DENSO CORPORATION
11.10.1. Key Facts
11.10.2. Business Description
11.10.3. Products and Services
11.10.4. Financial Overview
11.10.5. SWOT Analysis
11.10.6. Key Developments
12. APPENDIX
12.1. ABOUT THE INSIGHT PARTNERS
12.2. GLOSSARY OF TERMS
1.Nissan Motor Corporation
2.Mitsubishi Motors Corporation
3.NUVVE Corporation
4.ENGIE Group
5.OVO Energy Ltd
6.Groupe Renault
7.Honda Motor Co., Ltd.
8.AC Propulsion Inc.
9.Coritech Services Inc.
10.DENSO Corporation
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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