Vehicle To Grid Technology V2g Market

Vehicle-to-Grid technology (V2G) Market Forecasts to 2028 - Global Analysis By Vehicle Type (Battery Electric Vehicle (BEV), Plug-In Hybrid Electric Vehicle (PHEV) and Fuel Cell Electric Vehicle (FCEV)), Battery Type (Lithium-ion, Nickel-Metal Hydride, Lead-acid and Ultra-capacitors), Charging Type (Unidirectional Charging and Bidirectional Charging), Capacity, Technology, Application and By Geography

4.0 (31 reviews)
4.0 (31 reviews)
Published: 2023 ID: SMRC23183

This report covers the impact of COVID-19 on this global market

Years Covered


Estimated Year Value (2022)

US $2.12 BN

Projected Year Value (2028)

US $7.45 BN

CAGR (2022 - 2028)


Regions Covered

North America, Europe, Asia Pacific, South America, and Middle East & Africa

Countries Covered

US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa

Largest Market


Highest Growing Market

Asia Pacific

According to Stratistics MRC, the Global Vehicle-to-Grid technology (V2G) Market is accounted for $2.12 billion in 2022 and is expected to reach $7.45 billion by 2028 growing at a CAGR of 23.3% during the forecast period. Vehicle-to-grid is a system that allows various types of electric automobiles, such as battery electric vehicles, fuel cell vehicles, plug-in hybrid electric vehicles, and others to interface with the power grid in order to provide demand response services by delivering two-way electricity exchange. 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 a V2G battery.

Market Dynamics:


Increased demand for natural resources to power electric vehicles

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


High initial cost

The high initial cost of the technology over a specific period of time hampers market growth. Repairing companies, automobile owners, and the oil industry show resistance to the high cost of existing technology. Further, lack of infrastructure and lack of knowledge about the technology, driver’s anxiety about vehicle range, and data security are some of the issues that will curb the growth of the market. A bidirectional charger or electric vehicle supply equipment is essential to charge an electric vehicle battery and supply electricity back to the grid. Developments in the batteries of electric vehicles have been very slow compared to other technologies. Nonetheless, the augmented battery life and change of preference in the customer’s choice are anticipated to accelerate the market over the forecast period.


Growing government initiatives

Governments play a crucial role in shaping the regulatory environment and providing policy support for the adoption of V2G technology. They often introduce incentives such as financial incentives, tax breaks, and grants to encourage the deployment of V2G infrastructure and the integration of EVs with the grid. These policies create a favorable market environment and incentivize both consumers and businesses to participate in V2G programs. Furthermore, Governments allocate funds and invest in V2G technology research, development, and infrastructure deployment. This financial support can drive innovation, accelerate the commercialization of V2G solutions, and lower the barriers to entry for market players.


Lack of standardization of electric vehicle (EV) charging

Lack of adherence within EV chargers hampers their demand among end customers. Consumers are often skeptical about whether such EV chargers are suited for their vehicles or not. Moreover, the vehicles need flexible charging methods so they can take advantage of the charging and discharging rates when they are available. The lack of standardized plugs complicates charging further. Although Tesla, an American electric vehicle and sustainable energy business located in Palo Alto, California, is growing its network of chargers, it is designed particularly for Tesla automobiles.

Covid-19 Impact:

The COVID-19 pandemic has significantly disrupted global economic activity, including the automotive market and the electric vehicle industry. The pandemic led to a considerable drop in automotive sales, an insufficiency of raw materials, and others. Pandemic-related issues are aggravating port congestion, intermittent closures, and supplier delays. The COVID-19 outbreak has resulted in disruptions for the automotive industry in terms of manufacturing. The majority of OEMs have shut down their production and other essential operations during the pandemic. Moreover, some countries, such as Canada, Japan and others witnessed a drop in the figures as both the demand for new vehicles and their production were severely impacted. This impacted the revenue streams allocated towards R&D and the adoption of new technologies like vehicle-to-grid (V2G).

The Battery electric vehicles (BEVs) segment is expected to be the largest during the forecast period

The battery electric vehicles (BEVs) segment is anticipated to have a bigger revenue share over the forecast period. The prime factor behind the significant growth of the segment is that it is 100% powered by the energy storage system in the vehicle. This helps the vehicle return maximum power to the grid. BEVs have large-capacity batteries that can store a significant amount of energy. This energy storage capacity allows BEVs to provide surplus electricity to the grid during peak demand periods or when the grid requires additional support. By utilizing the stored energy in BEV batteries, V2G systems help balance the grid, enhance grid stability, and optimize energy management, which is expected to propel this segment's revenue growth.

The Electric vehicle supply equipment (EVSE) segment is expected to have the highest CAGR during the forecast period

The electric vehicle supply equipment (EVSE) segment is anticipated to experience consistent revenue growth over the course of the projection period. V2G-enabled EVSE allows for bidirectional charging, enabling the flow of electricity in both directions between the EV battery and the grid. This bidirectional capability is essential for V2G systems as it allows EVs to not only consume energy from the grid but also provide surplus energy back to the grid when needed. EVSE with bidirectional charging functionality facilitates the implementation and operation of V2G technology.

Region with largest share:

In the global market over the forecast period, Europe is anticipated to have the greatest revenue share. The vehicle-to-grid technology in the U.K. has 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 offers sensible and smart energy consumption. Europe has a higher 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 governments across Europe for the adoption of electric vehicles have augmented the vehicle-to-grid market size of the region.

Region with highest CAGR:

The market in Asia Pacific is anticipated to rise steadily over the course of the forecast period. Governments across the Asia-Pacific region are actively promoting EV adoption and supporting V2G technology through various initiatives and policies. Countries such as China, Japan, South Korea, and Australia have set ambitious targets for EV penetration and are investing in V2G infrastructure development. These efforts are aimed at reducing greenhouse gas emissions, improving air quality, and enhancing energy security. Furthermore, the region is witnessing a significant increase in the adoption of EVs. The rising EV population provides a strong foundation for the expansion of the V2G market as more EVs become available for grid integration, which propels market growth in the region over the forecast period.

Key players in the market

Some of the key players in Vehicle-to-Grid technology (V2G) market include AC Propulsion Inc., Coritech Services Inc., Daimler AG, Denso Corporation, Endesa SA, EnerDel Inc., Energie Baden Wuerttemberg AG (EnBW), ENGIE Group, EV Grid, Fuergy, Green Energy Wallet, Groupe Renault, Hitachi Ltd., Honda Motor Co. Ltd., IoTecha, Jedlix, Liikennevirta Oy Ltd., Mitsubishi Motors Corporation, NextEra Energy, Inc. (NEE), Nissan Motor Company Ltd., NRG Energy Inc., NUVVE Corporation, OVO Energy Ltd., PG&E Corporation, Qualcomm Inc., Tesla Inc. and V2G EVSE.

Key Developments:

In April 2022, Porsche AG collaborated with TransnetBW, a key transmission grid operator in Germany, and consulting firm Intelligent Energy System Services (IE2S), to demonstrate an intelligent swarm of electric cars and how vehicle to grid technology acts as a mobile power-storage unit and enables electric vehicles to feed and draw electricity to and from the grid at times of high demand

In November 2021, Nuvve Holding Corp., a global cleantech company that uses its intelligent energy platform to electrify the planet, announced that it will install and commission up to 200 Nuvve V2G DC 125 kW fast charging stations with dual dispensers at Blue Bird Corporation. This would result in the creation of a first-of-its-kind V2G hub that will help maximise the usage of electric buses by allowing them to serve as energy storage assets.

In October 2021, Nuvve Holding Corp. and Wallbox Chargers announced a collaborative partnership to design and develop vehicle to grid (V2G) technology in Iberia. The partnership has designed a two-way charger that offers the extra flexibility to retailer power and also discharges additional power from the electric vehicle’s battery again to the grid

In September 2020, ABB's bi-directional charging technology is being used in a Vehicle-to-Grid (V2G) collaboration project. ABB will offer its brand-new 11 kW bi-directional charging technology, specifically designed for V2G, as part of a deal with Dreev, a joint venture between Électricité de France (EDF) and Nuvve that specialises in intelligent charging for EVs

Vehicle Types Covered:
• Battery Electric Vehicle (BEV)
• Plug-In Hybrid Electric Vehicle (PHEV)
• Fuel Cell Electric Vehicle (FCEV)

Battery Types Covered:
• Lithium-ion
• Nickel-Metal Hydride
• Lead-acid
• Ultra-capacitors

Charging Types Covered:
• Unidirectional Charging
• Bidirectional Charging

Capacities Covered:
• 20-40kWh
• 41-70kWh
• 71-100kWh
• Above 100kWh

Technologies Covered:
• Electric Vehicle Supply Equipment (EVSE)
• Home Energy Management (HEM) Systems
• Smart Meters
• Power management
• Software Solutions

Applications Covered:
• Domestic
• Commercial
• Peak Power Sales
• Spinning Reserves
• Base Load Power
• Other Applications

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o Qatar
o South Africa
o Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances

Table of Contents

1 Executive Summary

2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions

3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Technology Analysis
3.7 Application Analysis
3.8 Emerging Markets
3.9 Impact of Covid-19

4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry

5 Global Vehicle-to-Grid technology (V2G) Market, By Vehicle Type
5.1 Introduction
5.2 Battery Electric Vehicle (BEV)
5.3 Plug-In Hybrid Electric Vehicle (PHEV)
5.4 Fuel Cell Electric Vehicle (FCEV)

6 Global Vehicle-to-Grid technology (V2G) Market, By Battery Type
6.1 Introduction
6.2 Lithium-ion
6.3 Nickel-Metal Hydride
6.4 Lead-acid
6.5 Ultra-capacitors

7 Global Vehicle-to-Grid technology (V2G) Market, By Charging Type
7.1 Introduction
7.2 Unidirectional Charging
7.3 Bidirectional Charging

8 Global Vehicle-to-Grid technology (V2G) Market, By Capacity
8.1 Introduction
8.2 20-40kWh
8.3 41-70kWh
8.4 71-100kWh
8.5 Above 100kWh

9 Global Vehicle-to-Grid technology (V2G) Market, By Technology
9.1 Introduction
9.2 Electric Vehicle Supply Equipment (EVSE)
9.3 Home Energy Management (HEM) Systems
9.4 Smart Meters
9.5 Power management
9.6 Software Solutions

10 Global Vehicle-to-Grid technology (V2G) Market, By Application
10.1 Introduction
10.2 Domestic
10.3 Commercial
10.4 Peak Power Sales
10.5 Spinning Reserves
10.6 Base Load Power
10.7 Other Applications

11 Global Vehicle-to-Grid technology (V2G) Market, By Geography
11.1 Introduction
11.2 North America
11.2.1 US
11.2.2 Canada
11.2.3 Mexico
11.3 Europe
11.3.1 Germany
11.3.2 UK
11.3.3 Italy
11.3.4 France
11.3.5 Spain
11.3.6 Rest of Europe
11.4 Asia Pacific
11.4.1 Japan
11.4.2 China
11.4.3 India
11.4.4 Australia
11.4.5 New Zealand
11.4.6 South Korea
11.4.7 Rest of Asia Pacific
11.5 South America
11.5.1 Argentina
11.5.2 Brazil
11.5.3 Chile
11.5.4 Rest of South America
11.6 Middle East & Africa
11.6.1 Saudi Arabia
11.6.2 UAE
11.6.3 Qatar
11.6.4 South Africa
11.6.5 Rest of Middle East & Africa

12 Key Developments
12.1 Agreements, Partnerships, Collaborations and Joint Ventures
12.2 Acquisitions & Mergers
12.3 New Product Launch
12.4 Expansions
12.5 Other Key Strategies

13 Company Profiling
13.1 AC Propulsion Inc.
13.2 Coritech Services Inc.
13.3 Daimler AG
13.4 Denso Corporation
13.5 Endesa SA
13.6 EnerDel Inc.
13.7 Energie Baden Wuerttemberg AG (EnBW)
13.8 ENGIE Group
13.9 EV Grid
13.10 Fuergy
13.11 Green Energy Wallet
13.12 Groupe Renault
13.13 Hitachi Ltd.
13.14 Honda Motor Co. Ltd.
13.15 IoTecha
13.16 Jedlix
13.17 Liikennevirta Oy Ltd.
13.18 Mitsubishi Motors Corporation
13.19 NextEra Energy, Inc. (NEE)
13.20 Nissan Motor Company Ltd.
13.21 NRG Energy Inc.
13.22 NUVVE Corporation
13.23 OVO Energy Ltd.
13.24 PG&E Corporation
13.25 Qualcomm Inc.
13.26 Tesla Inc.
13.27 V2G EVSE

List of Tables
1 Global Vehicle-to-Grid technology (V2G) Market Outlook, By Region (2020-2028) ($MN)
2 Global Vehicle-to-Grid technology (V2G) Market Outlook, By Vehicle Type (2020-2028) ($MN)
3 Global Vehicle-to-Grid technology (V2G) Market Outlook, By Battery Electric Vehicle (BEV) (2020-2028) ($MN)
4 Global Vehicle-to-Grid technology (V2G) Market Outlook, By Plug-In Hybrid Electric Vehicle (PHEV) (2020-2028) ($MN)
5 Global Vehicle-to-Grid technology (V2G) Market Outlook, By Fuel Cell Electric Vehicle (FCEV) (2020-2028) ($MN)
6 Global Vehicle-to-Grid technology (V2G) Market Outlook, By Battery Type (2020-2028) ($MN)
7 Global Vehicle-to-Grid technology (V2G) Market Outlook, By Lithium-ion (2020-2028) ($MN)
8 Global Vehicle-to-Grid technology (V2G) Market Outlook, By Nickel-Metal Hydride (2020-2028) ($MN)
9 Global Vehicle-to-Grid technology (V2G) Market Outlook, By Lead-acid (2020-2028) ($MN)
10 Global Vehicle-to-Grid technology (V2G) Market Outlook, By Ultra-capacitors (2020-2028) ($MN)
11 Global Vehicle-to-Grid technology (V2G) Market Outlook, By Charging Type (2020-2028) ($MN)
12 Global Vehicle-to-Grid technology (V2G) Market Outlook, By Unidirectional Charging (2020-2028) ($MN)
13 Global Vehicle-to-Grid technology (V2G) Market Outlook, By Bidirectional Charging (2020-2028) ($MN)
14 Global Vehicle-to-Grid technology (V2G) Market Outlook, By Capacity (2020-2028) ($MN)
15 Global Vehicle-to-Grid technology (V2G) Market Outlook, By 20-40kWh (2020-2028) ($MN)
16 Global Vehicle-to-Grid technology (V2G) Market Outlook, By 41-70kWh (2020-2028) ($MN)
17 Global Vehicle-to-Grid technology (V2G) Market Outlook, By 71-100kWh (2020-2028) ($MN)
18 Global Vehicle-to-Grid technology (V2G) Market Outlook, By Above 100kWh (2020-2028) ($MN)
19 Global Vehicle-to-Grid technology (V2G) Market Outlook, By Technology (2020-2028) ($MN)
20 Global Vehicle-to-Grid technology (V2G) Market Outlook, By Electric Vehicle Supply Equipment (EVSE) (2020-2028) ($MN)
21 Global Vehicle-to-Grid technology (V2G) Market Outlook, By Home Energy Management (HEM) Systems (2020-2028) ($MN)
22 Global Vehicle-to-Grid technology (V2G) Market Outlook, By Smart Meters (2020-2028) ($MN)
23 Global Vehicle-to-Grid technology (V2G) Market Outlook, By Power management (2020-2028) ($MN)
24 Global Vehicle-to-Grid technology (V2G) Market Outlook, By Software Solutions (2020-2028) ($MN)
25 Global Vehicle-to-Grid technology (V2G) Market Outlook, By Application (2020-2028) ($MN)
26 Global Vehicle-to-Grid technology (V2G) Market Outlook, By Domestic (2020-2028) ($MN)
27 Global Vehicle-to-Grid technology (V2G) Market Outlook, By Commercial (2020-2028) ($MN)
28 Global Vehicle-to-Grid technology (V2G) Market Outlook, By Peak Power Sales (2020-2028) ($MN)
29 Global Vehicle-to-Grid technology (V2G) Market Outlook, By Spinning Reserves (2020-2028) ($MN)
30 Global Vehicle-to-Grid technology (V2G) Market Outlook, By Base Load Power (2020-2028) ($MN)
31 Global Vehicle-to-Grid technology (V2G) Market Outlook, By Other Applications (2020-2028) ($MN)

Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.

List of Figures


Research Methodology

We at Stratistics opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.

Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.

Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.

Data Mining

The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.

Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.

Data Analysis

From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:

  • Product Lifecycle Analysis
  • Competitor analysis
  • Risk analysis
  • Porters Analysis
  • PESTEL Analysis
  • SWOT Analysis

The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.

Data Validation

The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.

We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.

The data validation involves the primary research from the industry experts belonging to:

  • Leading Companies
  • Suppliers & Distributors
  • Manufacturers
  • Consumers
  • Industry/Strategic Consultants

Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.

For more details about research methodology, kindly write to us at

Frequently Asked Questions

In case of any queries regarding this report, you can contact the customer service by filing the “Inquiry Before Buy” form available on the right hand side. You may also contact us through email: or phone: +1-301-202-5929

Yes, the samples are available for all the published reports. You can request them by filling the “Request Sample” option available in this page.

Yes, you can request a sample with your specific requirements. All the customized samples will be provided as per the requirement with the real data masked.

All our reports are available in Digital PDF format. In case if you require them in any other formats, such as PPT, Excel etc you can submit a request through “Inquiry Before Buy” form available on the right hand side. You may also contact us through email: or phone: +1-301-202-5929

We offer a free 15% customization with every purchase. This requirement can be fulfilled for both pre and post sale. You may send your customization requirements through email at or call us on +1-301-202-5929.

We have 3 different licensing options available in electronic format.

  • Single User Licence: Allows one person, typically the buyer, to have access to the ordered product. The ordered product cannot be distributed to anyone else.
  • 2-5 User Licence: Allows the ordered product to be shared among a maximum of 5 people within your organisation.
  • Corporate License: Allows the product to be shared among all employees of your organisation regardless of their geographical location.

All our reports are typically be emailed to you as an attachment.

To order any available report you need to register on our website. The payment can be made either through CCAvenue or PayPal payments gateways which accept all international cards.

We extend our support to 6 months post sale. A post sale customization is also provided to cover your unmet needs in the report.

Request Customization

We provide a free 15% customization on every purchase. This requirement can be fulfilled for both pre and post sale. You may send your customization requirements through email at or call us on +1-301-202-5929.

Note: This customization is absolutely free until it falls under the 15% bracket. If your requirement exceeds this a feasibility check will be performed. Post that, a quote will be provided along with the timelines.


Assured Quality

Assured Quality

Best in class reports with high standard of research integrity

24X7 Research Support

24X7 Research Support

Continuous support to ensure the best customer experience.

Free Customization

Free Customization

Adding more values to your product of interest.

Safe and Secure Access

Safe & Secure Access

Providing a secured environment for all online transactions.

Trusted by 600+ Brands

Trusted by 600+ Brands

Serving the most reputed brands across the world.