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Technavio, an international market research institution, recently released a report that from 2021 to 2025, the global vehicle-to-grid (V2G) market is expected to increase to US$16.
86 billion, with a compound annual growth rate of 31.
28%
during the period.
According to the report, the deregulation of the power industry, the spread of smart grids, and the expansion of power generation resources connected to the grid are driving grid infrastructure upgrades, thereby promoting the development of
the vehicle-to-grid market.
On the other hand, the rapid development of electric vehicles is also one of the main driving forces for the steady and rapid growth of
this market.
Moreover, energy policies in most countries are focused on the need for clean, affordable, and reliable energy supply, so much so that the continuous updating of technologies is driving grid transformation, and these technological advancements along with rapidly changing grid structures will drive the growth
of the global vehicle-to-grid market during the forecast period.
In terms of trends, the exponential growth in the number of EV charging stations will result in more vehicles being integrated into the grid, thereby driving the demand for vehicle-to-grid technology, which in turn will increase the growth
of the global vehicle-to-grid market during the forecast period.
From the perspective of market segmentation, the power electronics segment of the automotive-to-grid segment will grow at a steady rate, specifically including drive systems, control units, bidirectional chargers, network equipment, and communication equipment
.
These are responsible for two-way flow and communication
between vehicles and the technology that supports the grid.
The growth of this segment is expected to be very significant
during the forecast period.
From the perspective of regional market, 33% of the market growth during the forecast period will come from North America
.
The United States is one of
the major markets for vehicle-to-grid in North America.
Investments in rapid development and deployment of vehicle-to-grid infrastructure will boost the growth
of the vehicle-to-grid market in North America during the forecast period.
Technavio, an international market research institution, recently released a report that from 2021 to 2025, the global vehicle-to-grid (V2G) market is expected to increase to US$16.
86 billion, with a compound annual growth rate of 31.
28%
during the period.
According to the report, the deregulation of the power industry, the spread of smart grids, and the expansion of power generation resources connected to the grid are driving grid infrastructure upgrades, thereby promoting the development of
the vehicle-to-grid market.
On the other hand, the rapid development of electric vehicles is also one of the main driving forces for the steady and rapid growth of
this market.
Moreover, energy policies in most countries are focused on the need for clean, affordable, and reliable energy supply, so much so that the continuous updating of technologies is driving grid transformation, and these technological advancements along with rapidly changing grid structures will drive the growth
of the global vehicle-to-grid market during the forecast period.
In terms of trends, the exponential growth in the number of EV charging stations will result in more vehicles being integrated into the grid, thereby driving the demand for vehicle-to-grid technology, which in turn will increase the growth
of the global vehicle-to-grid market during the forecast period.
From the perspective of market segmentation, the power electronics segment of the automotive-to-grid segment will grow at a steady rate, specifically including drive systems, control units, bidirectional chargers, network equipment, and communication equipment
.
These are responsible for two-way flow and communication
between vehicles and the technology that supports the grid.
The growth of this segment is expected to be very significant
during the forecast period.
From the perspective of regional market, 33% of the market growth during the forecast period will come from North America
.
The United States is one of
the major markets for vehicle-to-grid in North America.
Investments in rapid development and deployment of vehicle-to-grid infrastructure will boost the growth
of the vehicle-to-grid market in North America during the forecast period.
