May 17, 2024

U.S. Vehicle-to-Grid Technology Market Size USD 46.21 Bn by 2033

The U.S. vehicle-to-grid technology market size is predicted to hit around USD 46.21 billion by 2033, growing at a CAGR of 47.42% from 2024 to 2033.

Key Takeaways

  • By component type, the electric vehicle supply equipment (EVSE) segment held the largest share of the market in 2023.
  • By application type, the battery electric vehicles (BEVs) segment held the dominating share of the market in 2023 and the segment is observed to sustain the position throughout the forecast period.

U.S. Vehicle-to-Grid Technology Market Overview

Vehicle-to-Grid Technology Market Size in U.S. 2024 to 2033

The U.S. Vehicle-to-Grid (V2G) Technology market is experiencing significant growth, driven by the intersection of advancements in electric vehicle (EV) technology and the evolving energy landscape. V2G technology enables bidirectional energy flow between electric vehicles and the power grid, transforming EVs into mobile energy storage units. This innovative approach holds the potential to revolutionize the way energy is stored, distributed, and utilized in the United States.

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Growth Factors:

Several key factors contribute to the growth of the U.S. V2G Technology market. Firstly, the increasing adoption of electric vehicles is a primary driver, creating a substantial fleet of potential energy storage resources. Additionally, government initiatives and incentives aimed at promoting sustainable transportation and grid flexibility further fuel the demand for V2G technology. Technological advancements in smart grid infrastructure and the integration of renewable energy sources also play a pivotal role in fostering the expansion of the V2G market.

U.S. Vehicle-to-Grid Technology Market Scope

Report Coverage Details
Growth Rate from 2024 to 2033 CAGR of 47.42%
U.S. Market Size in 2023 USD 0.96 Billion
U.S. Market Size by 2033 USD 46.21 Billion
Base Year 2023
Forecast Period 2024 to 2033
Segments Covered By Component Type and By Application Type

Read More: Photodynamic Therapy Market Size to Attain USD 8.42 Bn by 2033

Opportunities

The U.S. V2G Technology market presents exciting opportunities for various stakeholders. As the EV market continues to grow, there is an increasing need for scalable and efficient energy storage solutions. V2G technology provides a viable solution to address peak demand challenges and enhance grid resilience. Collaborations between automakers, energy utilities, and technology developers can unlock synergies, creating innovative business models and fostering the development of an interconnected and adaptive energy ecosystem.

Challenges

Despite the promising outlook, the U.S. V2G Technology market faces certain challenges. Infrastructure readiness poses a hurdle, as widespread deployment requires the establishment of a robust charging infrastructure and smart grid capabilities. Standardization issues, interoperability concerns, and regulatory complexities also need to be addressed to ensure seamless integration and operation of V2G systems. Additionally, overcoming consumer apprehensions and ensuring data security are crucial challenges that the industry must navigate to unlock the full potential of V2G technology.

Reasons to Purchase this Report:

  • Comprehensive market segmentation analysis incorporating qualitative and quantitative research, considering the impact of economic and policy factors.
  • In-depth regional and country-level analysis, examining the demand and supply dynamics that influence market growth.
  • Market size in USD million and volume in million units provided for each segment and sub-segment.
  • Detailed competitive landscape, including market share of major players, recent projects, and strategies implemented over the past five years.
  • Comprehensive company profiles encompassing product offerings, key financial information, recent developments, SWOT analysis, and employed strategies by major market players.

U.S. Vehicle-to-Grid Technology Market Companies

  • ABB
  • AC Propulsion, Inc.
  • Edison International
  • EV Grid, Inc.
  • Fermata Energy
  • Hitachi, Ltd
  • Honda Motor Co., Ltd.
  • NRG Energy, Inc
  • Nuvve Holding Corp.
  • Wallbox Inc

Segments Covered in the Report

By Component Type

  • Smart Meters
  • Electric Vehicle Supply Equipment (EVSE)
  • Software
  • Home Energy Management (HEM)

By Application Type

  • Battery Electric Vehicles (BEVs)
  • Fuel Cell Vehicles (FCVs)
  • Plug-in Hybrid Electric Vehicles (PHEVs)

By Geography

  • North America
  • Europe
  • Asia-Pacific
  • Latin America
  • Middle East and Africa

TABLE OF CONTENT

Chapter 1. Introduction

1.1. Research Objective

1.2. Scope of the Study

1.3. Definition

Chapter 2. Research Methodology (Premium Insights)

2.1. Research Approach

2.2. Data Sources

2.3. Assumptions & Limitations

Chapter 3. Executive Summary

3.1. Market Snapshot

Chapter 4. Market Variables and Scope 

4.1. Introduction

4.2. Market Classification and Scope

4.3. Industry Value Chain Analysis

4.3.1. Raw Material Procurement Analysis

4.3.2. Sales and Distribution Channel Analysis

4.3.3. Downstream Buyer Analysis

Chapter 5. COVID 19 Impact on U.S. Vehicle-to-Grid Technology Market 

5.1. COVID-19 Landscape: U.S. Vehicle-to-Grid Technology Industry Impact

5.2. COVID 19 – Impact Assessment for the Industry

5.3. COVID 19 Impact: Global Major Government Policy

5.4. Market Trends and Opportunities in the COVID-19 Landscape

Chapter 6. Market Dynamics Analysis and Trends

6.1. Market Dynamics

6.1.1. Market Drivers

6.1.2. Market Restraints

6.1.3. Market Opportunities

6.2. Porter’s Five Forces Analysis

6.2.1. Bargaining power of suppliers

6.2.2. Bargaining power of buyers

6.2.3. Threat of substitute

6.2.4. Threat of new entrants

6.2.5. Degree of competition

Chapter 7. Competitive Landscape

7.1.1. Company Market Share/Positioning Analysis

7.1.2. Key Strategies Adopted by Players

7.1.3. Vendor Landscape

7.1.3.1. List of Suppliers

7.1.3.2. List of Buyers

Chapter 8. Global U.S. Vehicle-to-Grid Technology Market, By Component Type

8.1. U.S. Vehicle-to-Grid Technology Market, by Component Type, 2024-2033

8.1.1. Smart Meters

8.1.1.1. Market Revenue and Forecast (2021-2033)

8.1.2. Electric Vehicle Supply Equipment (EVSE)

8.1.2.1. Market Revenue and Forecast (2021-2033)

8.1.3. Software

8.1.3.1. Market Revenue and Forecast (2021-2033)

8.1.4. Home Energy Management (HEM)

8.1.4.1. Market Revenue and Forecast (2021-2033)

Chapter 9. Global U.S. Vehicle-to-Grid Technology Market, By Application Type

9.1. U.S. Vehicle-to-Grid Technology Market, by Application Type, 2024-2033

9.1.1. Battery Electric Vehicles (BEVs)

9.1.1.1. Market Revenue and Forecast (2021-2033)

9.1.2. Fuel Cell Vehicles (FCVs)

9.1.2.1. Market Revenue and Forecast (2021-2033)

9.1.3. Plug-in Hybrid Electric Vehicles (PHEVs)

9.1.3.1. Market Revenue and Forecast (2021-2033)

Chapter 10. Global U.S. Vehicle-to-Grid Technology Market, Regional Estimates and Trend Forecast

10.1. U.S.

10.1.1. Market Revenue and Forecast, by Component Type (2021-2033)

10.1.2. Market Revenue and Forecast, by Application Type (2021-2033)

Chapter 11. Company Profiles

11.1. ABB

11.1.1. Company Overview

11.1.2. Product Offerings

11.1.3. Financial Performance

11.1.4. Recent Initiatives

11.2. AC Propulsion, Inc.

11.2.1. Company Overview

11.2.2. Product Offerings

11.2.3. Financial Performance

11.2.4. Recent Initiatives

11.3. Edison International

11.3.1. Company Overview

11.3.2. Product Offerings

11.3.3. Financial Performance

11.3.4. Recent Initiatives

11.4. EV Grid, Inc.

11.4.1. Company Overview

11.4.2. Product Offerings

11.4.3. Financial Performance

11.4.4. Recent Initiatives

11.5. Fermata Energy

11.5.1. Company Overview

11.5.2. Product Offerings

11.5.3. Financial Performance

11.5.4. Recent Initiatives

11.6. Hitachi, Ltd

11.6.1. Company Overview

11.6.2. Product Offerings

11.6.3. Financial Performance

11.6.4. Recent Initiatives

11.7. Honda Motor Co., Ltd.

11.7.1. Company Overview

11.7.2. Product Offerings

11.7.3. Financial Performance

11.7.4. Recent Initiatives

11.8. NRG Energy, Inc

11.8.1. Company Overview

11.8.2. Product Offerings

11.8.3. Financial Performance

11.8.4. Recent Initiatives

11.9. Nuvve Holding Corp.

11.9.1. Company Overview

11.9.2. Product Offerings

11.9.3. Financial Performance

11.9.4. Recent Initiatives

11.10. Wallbox Inc

11.10.1. Company Overview

11.10.2. Product Offerings

11.10.3. Financial Performance

11.10.4. Recent Initiatives

Chapter 12. Research Methodology

12.1. Primary Research

12.2. Secondary Research

12.3. Assumptions

Chapter 13. Appendix

13.1. About Us

13.2. Glossary of Terms

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Prathamesh

I have completed my education in Bachelors in Computer Application. A focused learner having a keen interest in the field of digital marketing, SEO, SMM, and Google Analytics enthusiastic to learn new things along with building leadership skills.

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