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Navigant Research, a US market research institution, recently released a report that by 2026, the global vehicle power grid technology and services market is expected to reach $700 million
.
With the popularity of electric vehicles in the coming decades, the electrification load of transportation is expected to increase
significantly.
For utilities, effective management of infrastructure assets through on-board grid integration technology can reduce grid balancing costs
.
Scott Shepard, senior research analyst at Navigant Research, said: "The opportunity to deploy in-vehicle grid integration technology varies greatly by location, depending on the growing number of plug-in electric vehicle users, advanced power grids, the availability of renewable resources, and the grid regulatory structure
for cash.
”
In addition, the increasing inclusion of electric vehicles in grid services and demand response plans by utilities and grid operators will have a significant impact
on the in-vehicle grid integration market.
Navigant Research estimates that the current global regulatory and demand response market (grid services category) is close to 198 GW
.
Increasing global renewable energy penetration and advancing smart grid organizational structure are expected to bring this market size to more than 516 GW
by 2026.
According to the report, in-vehicle grid integration technology will grow significantly over the next 10 years, but will only account for a small fraction
of the global grid service capacity by 2026.
Navigant Research, a US market research institution, recently released a report that by 2026, the global vehicle power grid technology and services market is expected to reach $700 million
.
With the popularity of electric vehicles in the coming decades, the electrification load of transportation is expected to increase
significantly.
For utilities, effective management of infrastructure assets through on-board grid integration technology can reduce grid balancing costs
.
Scott Shepard, senior research analyst at Navigant Research, said: "The opportunity to deploy in-vehicle grid integration technology varies greatly by location, depending on the growing number of plug-in electric vehicle users, advanced power grids, the availability of renewable resources, and the grid regulatory structure
for cash.
”
In addition, the increasing inclusion of electric vehicles in grid services and demand response plans by utilities and grid operators will have a significant impact
on the in-vehicle grid integration market.
Navigant Research estimates that the current global regulatory and demand response market (grid services category) is close to 198 GW
.
Increasing global renewable energy penetration and advancing smart grid organizational structure are expected to bring this market size to more than 516 GW
by 2026.
According to the report, in-vehicle grid integration technology will grow significantly over the next 10 years, but will only account for a small fraction
of the global grid service capacity by 2026.
