Vehicle to Grid Market: North America to Occupy 33% Market Share|Power Electronics Segment to be Significant for Revenue Generation|Technavio
NEW YORK, June 20, 2022 -- The vehicle-to-grid market size is set to grow by USD 16.86 billion from 2020 to 2025 as per the latest market report by Technavio. The report projects the market to decelerate at a CAGR of 31.28%. 33% of the market's growth will originate from North America during the forecast period. The US is the key market for the vehicle to grid market in North America. Market growth in this region will be slower than the growth of the market in all other regions. The US is the leading market for vehicles to grid in North America. This growth is attributed to rapid investments in the development and deployment of the vehicle to grid infrastructure, which will facilitate the vehicle to grid market growth in North America over the forecast period
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Vehicle To Grid Market: Segmentation Analysis
The market research report segments the vehicle-to-grid market by Technology (power electronics and software) and Geography (North America, Europe, APAC, MEA, and South America).
The vehicle to grid market share growth by the power electronic segment will be significant for revenue generation. The sales of drive systems will increase exponentially during the forecast period. This is due to car manufacturers such as Nissan, Honda, and Tesla planning to launch EVs with vehicle grid capabilities.
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Vehicle to Grid Market: Improvements in EV battery technology to drive growth
- Improvements in EV battery technology are a key driving factor impacting the global vehicle to grid market growth. The global rise in the number of EVs is driven by the need for energy independence and support by governments. With the increase in the adoption of EVs, existing technologies are being pushed to the limits of their functionalities. Therefore, a high amount of investments is being made in R&D.
- Over the years, technological advancements in EVs have enabled the reduction of battery costs while increasing their energy densities. Moreover, improvements in energy density in EVs result in higher capacity batteries. The growing number of EVs has resulted in infrastructure for battery charging that is widespread and easily available. Better energy storage options and easy integration into the grid are driving the need for grid integration
- .Some vendors are focusing on opening new EV battery facilities. For instance, in December 2019, General Motors announced the setting up of a joint venture with South Korea's LG Chem to mass-produce batteries for electric cars. Both companies plan to invest a total of $2.3 billion to build a new facility, which will be located in Lordstown, Ohio, US.
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Get ready to achieve excellent business outcomes from this exclusive Vehicle To Grid Market report by Technavio. The report will include highlights of the overall market which includes frequently asked questions such as -
- What are historical revenue figures and estimated revenue figures as well as CAGR during the forecast timeframe?
- What is the current trend taking place in the market space?
- Which are business tactics that will influence competitive scenarios along with defining the growth potential of the market?
- What are market drivers, restraints, and challenges impacting demand & growth of the market?
- Which regions & segments will garner massive revenue and emerge as market leaders in upcoming years?
The competitive scenario provided in the Vehicle To Grid Market report analyzes, evaluates, and positions companies based on various performance indicators. Some of the factors considered for this analysis include the financial performance of companies over the past few years, growth strategies, product innovations, new product launches, investments, growth in market share, etc. Don't wait, Make a strategic approach & boost your business goals with our Vehicle To Grid Market Forecast Report - Buy Now!
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- The industrial internet of things market share is expected to increase by USD 421.28 billion from 2020 to 2025, and the market's growth momentum will accelerate at a CAGR of 32.95%.
Vehicle To Grid Market Scope
Growth momentum & CAGR
Decelerate at a CAGR of 31.28%
Market growth 2021-2025
USD 16.86 billion
YoY growth (%)
Performing market contribution
North America at 33%
Leading companies, competitive strategies, consumer engagement scope
AC Propulsion Inc., Coritech Services, Daimler AG, DENSO Corp., Hitachi Ltd., Honda Motor Co. Ltd., Liikennevirta Oy Ltd., NUVVE Corp., Qualcomm Inc., and Tesla Inc.
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for forecast period,
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.
Table of Content
1 Executive Summary
2 Market Landscape
- 2.1 Market ecosystem
- Exhibit 01: Parent market
- 2.2 Market characteristics
- Exhibit 02: Market characteristics
- 2.3 Value chain analysis
3 Market Sizing
- 3.1 Market definition
- Exhibit 03: Offerings of vendors included in the market definition
- 3.2 Market segment analysis
- Exhibit 04: Market segments
- 3.3 Market size 2020
- 3.4 Market outlook: Forecast for 2020 - 2025
- Exhibit 05: Global - Market size and forecast 2020 - 2025 ($ million)
- Exhibit 06: Global market: Year-over-year growth 2020 - 2025 (%)
4 Five Forces Analysis
- 4.1 Five Forces Summary
- Exhibit 07: Five forces analysis 2020 & 2025
- 4.2 Bargaining power of buyers
- Exhibit 08: Bargaining power of buyers
- 4.3 Bargaining power of suppliers
- Exhibit 09: Bargaining power of suppliers
- 4.4 Threat of new entrants
- Exhibit 10: Threat of new entrants
- 4.5 Threat of substitutes
- Exhibit 11: Threat of substitutes
- 4.6 Threat of rivalry
- Exhibit 12: Threat of rivalry
- 4.7 Market condition
- Exhibit 13: Market condition - Five forces 2020
5 Market Segmentation by Technology
- 5.1 Market segments
- Exhibit 14: Technology - Market share 2020-2025 (%)
- 5.2 Comparison by Technology
- Exhibit 15: Comparison by Technology
- 5.3 Power electronics - Market size and forecast 2020-2025
- Exhibit 16: Power electronics - Market size and forecast 2020-2025 ($ million)
- Exhibit 17: Power electronics - Year-over-year growth 2020-2025 (%)
- 5.4 Software - Market size and forecast 2020-2025
- Exhibit 18: Software - Market size and forecast 2020-2025 ($ million)
- Exhibit 19: Software - Year-over-year growth 2020-2025 (%)
- 5.5 Market opportunity by Technology
- Exhibit 20: Market opportunity by Technology
6 Customer Landscape
7 Geographic Landscape
- 7.1 Geographic segmentation
- Exhibit 22: Market share by geography 2020-2025 (%)
- 7.2 Geographic comparison
- Exhibit 23: Geographic comparison
- 7.3 North America - Market size and forecast 2020-2025
- Exhibit 24: North America - Market size and forecast 2020-2025 ($ million)
- Exhibit 25: North America - Year-over-year growth 2020-2025 (%)
- 7.4 Europe - Market size and forecast 2020-2025
- Exhibit 26: Europe - Market size and forecast 2020-2025 ($ million)
- Exhibit 27: Europe - Year-over-year growth 2020-2025 (%)
- 7.5 APAC - Market size and forecast 2020-2025
- Exhibit 28: APAC - Market size and forecast 2020-2025 ($ million)
- Exhibit 29: APAC - Year-over-year growth 2020-2025 (%)
- 7.6 MEA - Market size and forecast 2020-2025
- Exhibit 30: MEA - Market size and forecast 2020-2025 ($ million)
- Exhibit 31: MEA - Year-over-year growth 2020-2025 (%)
- 7.7 South America - Market size and forecast 2020-2025
- Exhibit 32: South America - Market size and forecast 2020-2025 ($ million)
- Exhibit 33: South America - Year-over-year growth 2020-2025 (%)
- 7.8 Key leading countries
- Exhibit 34: Key leading countries
- 7.9 Market opportunity by geography
- Exhibit 35: Market opportunity by geography ($ million)
8 Drivers, Challenges, and Trends
- 8.1 Market drivers
- 8.2 Market challenges
- Exhibit 36: Impact of drivers and challenges
- 8.3 Market trends
9 Vendor Landscape
- 9.1 Overview
- 9.2 Vendor landscape
- Exhibit 37: Vendor landscape
- 9.3 Landscape disruption
- Exhibit 38: Landscape disruption
- Exhibit 39: Industry risks
10 Vendor Analysis
- 10.1 Vendors covered
- Exhibit 40: Vendors covered
- 10.2 Market positioning of vendors
- Exhibit 41: Market positioning of vendors
- 10.3 AC Propulsion Inc.
- Exhibit 42: AC Propulsion Inc. - Overview
- Exhibit 43: AC Propulsion Inc. - Product and service
- Exhibit 44: AC Propulsion Inc. - Key offerings
- 10.4 Coritech Services
- Exhibit 45: Coritech Services - Overview
- Exhibit 46: Coritech Services - Product and service
- Exhibit 47: Coritech Services - Key offerings
- 10.5 Daimler AG
- 10.6 DENSO Corp.
- Exhibit 53: DENSO Corp. - Overview
- Exhibit 54: DENSO Corp. - Business segments
- Exhibit 55: DENSO Corp. - Key offerings
- Exhibit 56: DENSO Corp. - Segment focus
- 10.7 Hitachi Ltd.
- Exhibit 57: Hitachi Ltd. - Overview
- Exhibit 58: Hitachi Ltd. - Business segments
- Exhibit 59: Hitachi Ltd. - Key offerings
- Exhibit 60: Hitachi Ltd. - Segment focus
- 10.8 Honda Motor Co. Ltd.
- Exhibit 61: Honda Motor Co. Ltd. - Overview
- Exhibit 62: Honda Motor Co. Ltd. - Business segments
- Exhibit 63: Honda Motor Co. Ltd. – Key news
- Exhibit 64: Honda Motor Co. Ltd. - Key offerings
- Exhibit 65: Honda Motor Co. Ltd. - Segment focus
- 10.9 Liikennevirta Oy Ltd.
- Exhibit 66: Liikennevirta Oy Ltd. - Overview
- Exhibit 67: Liikennevirta Oy Ltd. - Product and service
- Exhibit 68: Liikennevirta Oy Ltd. - Key offerings
- 10.10 NUVVE Corp.
- Exhibit 69: NUVVE Corp. - Overview
- Exhibit 70: NUVVE Corp. - Product and service
- Exhibit 71: NUVVE Corp. - Key offerings
- 10.11 Qualcomm Inc.
- Exhibit 72: Qualcomm Inc. - Overview
- Exhibit 73: Qualcomm Inc. - Business segments
- Exhibit 74: Qualcomm Inc. – Key news
- Exhibit 75: Qualcomm Inc. - Key offerings
- Exhibit 76: Qualcomm Inc. - Segment focus
- 10.12 Tesla Inc.
- Exhibit 77: Tesla Inc. - Overview
- Exhibit 78: Tesla Inc. - Business segments
- Exhibit 79: Tesla Inc. - Key offerings
- Exhibit 80: Tesla Inc. - Segment focus
- 11.1 Scope of the report
- 11.2 Currency conversion rates for US$
- Exhibit 81: Currency conversion rates for US$
- 11.3 Research methodology
- Exhibit 82: Research Methodology
- Exhibit 83: Validation techniques employed for market sizing
- Exhibit 84: Information sources
- 11.4 List of abbreviations
- Exhibit 85: List of abbreviations
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