DUBLIN--(BUSINESS WIRE)--The "Belgium Vehicle To Grid Market By Charging Type, By Component Systems, Others, By Vehicle Type, Hybrid Electric Vehicle, Plug-In Hybrid Electric Vehicle, By Application, By Region, Competition, Forecast & Opportunities, 2027" report has been added to ResearchAndMarkets.com's offering.
Belgium vehicle to grid market is projected to grow at a formidable rate during the forecast period, 2023-2027
The market growth can be attributed to the high penetration of smart power generation systems across various end-user sectors. Besides, rising demand for electric vehicles and rapid technological advancements are contributing to the market growth.
Despite low demand for EVs in Belgium compared to other nations such as the Netherlands and Germany, rising awareness among consumers and persistent efforts by EV manufacturers to promote the adoption of EVs are expected to further support the growth of the Belgium vehicle to grid market in the future.
Technology known as "vehicle to grid" allows electric vehicles to send any unused electricity to the grid. Future plans to use car to grid technology to power homes as well as the use of electric vehicles to store energy and use that energy to power other systems such as mobile phones, laptops, and similar gadgets are potential applications of the system.
The technology allows for energy provision during peak times. When the renewable energy sources that depend on the weather are unable to meet the demand for electricity, this system has the ability to produce an additional source of power.
High investments by market players to increase the sales of electric passenger car and commercial vehicles and expanding the electric vehicle charging infrastructure are also fueling the growth of the Belgium vehicle to grid market. Enhanced support by government authorities and more foreign direct investments are likely to positively impact the Belgium vehicle to grid market growth.
The development of the market would also be aided by coordination between electric car manufacturers and those that operate charging stations and points. In the next five years, the expansion of the Belgium vehicle to grid market will be facilitated by increasing potential customers' awareness of the financial ramifications, the existing and planned charging infrastructure, the various types of charge points, and the offered driving range.
The bidirectional charging segment is expected to register the fastest growth in the market during the forecast period, owing to their rising adoption for recharging the vehicle battery and utilize the stored energy during peak hours.
Major players operating in the Belgium vehicle to grid market are Elia Group, Jedlix BV, FUERGY Industries j.s.a., NUVVE Corp., ABB Group., YUSO BV, among others.
Objective of the Study:
- To analyze the historical growth in the market size of the Belgium vehicle to grid market from 2017 to 2021.
- To estimate and forecast the market size of Belgium vehicle to grid market from 2022 to 2027, and growth rate until 2027.
- To classify and forecast the Belgium vehicle to grid market based on charging type, component, vehicle type, application, region, and company.
- To identify the dominant region or segment in the Belgium vehicle to grid market.
- To identify drivers and challenges for the Belgium vehicle to grid market.
- To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in the Belgium vehicle to grid market.
- To identify and analyze the profiles of leading players operating in the Belgium vehicle to grid market.
- To identify key sustainable strategies adopted by market players in Belgium vehicle to grid market.
Company Profiles: Detailed analysis of the major companies present in Belgium vehicle to grid market.
- Elia Group
- Jedlix BV
- FUERGY Industries j.s.a.
- NUVVE Corp.
- ABB Group.
- YUSO BV
Years considered for this report:
- Historical Years: 2017-2020
- Base Year: 2021
- Estimated Year: 2022
- Forecast Period: 2023-2027
Belgium Vehicle To Grid Market, By Charging Type:
- Unidirectional Charging
- Bidirectional Charging
Belgium Vehicle To Grid Market, By Component:
- Smart Meters
- Home Energy Management (HEM) Systems
Belgium Vehicle To Grid Market, By Vehicle Type:
- Battery Electric Vehicle (BEV)
- Hybrid Electric Vehicle (HEV)
- Plug-In Hybrid Electric Vehicle (PHEV)
Belgium Vehicle To Grid Market, By Application:
- Peak Power Sales
- Spinning Reserves
- Base Load Power and Others
Belgium Vehicle To Grid Market, By Region:
For more information about this report visit https://www.researchandmarkets.com/r/f1a5be
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