Bi-directional Electric Vehicle Charger Market Size - By Power Output, By Vehicle (Battery Electric, Plug-in Hybrid Electric, Fuel-cell Electric, Hybrid Electric, Others), By Sales Channel, By Application, By End User & Forecast, 2024 – 2032

Bi-directional Electric Vehicle Charger Market Size

Bi-directional Electric Vehicle Charger Market size was valued at USD 1.4 billion in 2023 and is estimated to register a CAGR of over 22.8% between 2024 and 2032. The rapid adoption of electric vehicles (EVs) and increasing demand for charging infrastructure are key drivers for the market.
 

For instance, in 2023, global electric car registrations increased by nearly 14 million units, raising the total number of electric vehicles on the roads to 40 million. This represents a substantial rise from 2022, with 3.5 million more electric cars sold, reflecting a 35% year-on-year growth. This significant adoption underscores the rapid shift towards electric mobility, driven by rising consumer demand, supportive regulatory frameworks, and advancements in EV technology. Moreover, as consumers and businesses increasingly switch to EVs due to environmental concerns, regulatory incentives, and advancements in battery technology, the demand for supporting infrastructure, including bi-directional chargers, is rising.
 

These chargers are crucial for not only charging EVs but also integrating them into the grid for energy storage and management. Governments worldwide are setting ambitious EV adoption targets, further boosting the demand for advanced charging solutions. The increase in EV sales is expanding the market, which is essential for optimizing energy use and enabling vehicle-to-grid (V2G) applications.
 

Bi-directional EV chargers provide significant economic benefits by enabling EV owners to participate in energy markets and capitalize on grid services. By returning stored energy to the grid, EV owners can generate income or reduce their energy expenses. Bi-directional chargers are increasingly recognized as essential in optimizing energy usage and enhancing the sustainability of the energy ecosystem. They not only improve the financial viability of owning an electric vehicle (EV) but also play a critical role in maintaining grid stability and integrating renewable energy sources.
 

Additionally, the capability to use an EV as a backup power source during outages or peak demand periods further increases its economic value. As awareness of these benefits grows and more individuals seek to lower energy costs, the demand for bi-directional chargers is expected to increase further in the upcoming years.
 

The high initial cost significantly impedes the widespread adoption of bi-directional EV chargers. Unlike standard EV chargers, bi-directional chargers, which facilitate energy flow both to and from the vehicle, require advanced technology. This includes complex inverters, sophisticated communication systems, and additional safety mechanisms to manage the bidirectional electricity flow. Although prices have gradually decreased, the upfront expense remains a significant restraint for both individual consumers and businesses. This financial challenge is particularly relevant for users assessing the return on investment and overall affordability. Furthermore, the technology's initial stage prevents the full realization of economies of scale and cost reductions.
 

Bi-directional Electric Vehicle Charger Market Trends

The bi-directional EV charger industry is witnessing a significant increase in the adoption of Vehicle-to-Grid (V2G) technology. V2G allows electric vehicles to not only draw power from the grid for charging but also to return excess energy to the grid. This trend is driven by a growing emphasis on grid stability and the integration of renewable energy sources.
 

V2G systems play a critical role in balancing supply and demand, particularly with the rising use of intermittent renewable sources such as wind and solar. By enabling EVs to function as mobile energy storage units, the technology enhances energy resilience and offers potential financial benefits to EV owners through incentives or credits for the energy they feed back into the grid.
 

Moreover, major players in the market are investing in this technology to gain strategic advancement. In November 2023, Toyota partnered with San Diego Gas & Electric Company (SDG&E) to research V2G (Vehicle-to-Grid) technology for battery electric vehicles. This collaboration aims to explore the integration of EVs into the grid to enhance stability and support renewable energy sources. The research findings are expected to provide valuable insights for future policymaking and establish standards for bi-directional charging, thereby driving the adoption of V2G technology in the energy and transportation markets.
 

Bi-directional Electric Vehicle Charger Market Analysis

Based on power output, the market is divided into level 1, level 2, and level 3. In 2023, the level 2 segment held approximately USD 700 million. The increasing demand for faster charging solutions is driving the adoption of Level 2 bi-directional chargers. These chargers offer a significant improvement in charging speed compared to Level 1 chargers, making them more appealing to consumers seeking quicker recharging times. This enhanced speed reduces charging downtime, which is crucial for both residential and commercial users.
 

Additionally, Level 2 bi-directional chargers enable bidirectional energy flow, allowing electric vehicles to draw power from the grid and feed power back into it. This capability supports energy storage solutions and provides valuable grid services, such as load balancing and peak shaving. As utilities and grid operators aim to enhance grid stability and integrate renewable energy sources, the role of Level 2 chargers in supporting these functions has become increasingly important in recent years.
 

Based on the sales channel, the bi-directional electric vehicle charger market is categorized into OEM and aftermarket. The OEM segment is expected to hold over USD 6.2 billion by 2032. Automakers frequently establish strategic partnerships with bi-directional charger manufacturers to enhance their product offerings and provide bundled solutions. These collaborations enable OEMs to deliver integrated charging solutions tailored to their vehicles, which can significantly attract consumers.
 

For instance, in September 2022, Fermata Energy entered a strategic partnership with Nissan in the U.S. to focus on the Nissan Leaf. This collaboration aimed to demonstrate the Leaf's capability to function both as a vehicle and an energy resource, providing grid support and enhancing energy management. Additionally, such partnerships drive innovation and accelerate market growth.
 

Government policies and incentives often support the adoption of advanced EV technologies, including bi-directional charging. OEMs can leverage these incentives to promote their bi-directional charging solutions, making them more appealing to consumers. Furthermore, regulatory requirements for vehicle-to-grid (V2G) capabilities may compel OEMs to incorporate bi-directional chargers into their offerings to comply with standards and gain market access.
 

North America dominated the bi-directional electric vehicle charger market with around 35% of the revenue share in 2023. The governments in the region, particularly in the U.S. and Canada, federal and state/provincial governments is actively incentivizing the adoption of electric vehicles (EVs) and the integration of renewable energy.
 

Key programs, such as those supporting vehicle-to-grid (V2G) technology and offering subsidies for bi-directional chargers, play a pivotal role in driving market growth. Significant investments in EV infrastructure, including charging networks and smart grid technologies, are facilitating the deployment of bi-directional chargers. Collaborations between utilities and private companies are enhancing grid resilience and energy management, thus driving bi-directional EV charger market growth.
 

In Europe, stringent environmental regulations aimed at reducing carbon emissions are in place. Policies and mandates promoting renewable energy and smart grid solutions, including bi-directional chargers, are promoting market growth. The region has one of the highest adoption rates for electric vehicles globally. The high density of EVs provides a robust market for bi-directional charging solutions, particularly in urban areas where grid support and energy efficiency are crucial.
 

Moreover, rapid urbanization and industrial growth in the Asia Pacific region are driving the need for efficient energy management solutions. Bi-directional EV chargers are addressing energy demands and supporting grid stability in expanding cities. Moreover, governments in the region, including China, Japan, and South Korea, are implementing policies to promote EV adoption and renewable energy integration. These initiatives include incentives for bi-directional chargers and support for V2G technology.
 

Bi-directional Electric Vehicle Charger Market Share

Delta Electronics, Inc. and Enphase Energy are the prominent players in the market holding approximately 23% of the market share in 2023. Delta Electronics prioritizes innovation and R&D to maintain its leadership in the bi-directional EV charger market. The company invests in developing advanced bi-directional charging technologies that ensure high efficiency, reliability, and integration with renewable energy sources. Delta collaborates with automotive manufacturers, energy companies, and technology firms to enhance its product offerings and expand its market reach. These partnerships enable Delta to integrate its bi-directional chargers into broader energy management systems and smart grid solutions.
 

Enphase Energy leverages its expertise in solar energy and home energy management to provide integrated solutions that include bi-directional EV chargers. By combining solar inverters, energy storage systems, and bi-directional chargers, Enphase offers comprehensive energy management solutions for residential and commercial customers. Enphase focuses on technological innovation to maintain its competitive edge in the market. The company invests in developing cutting-edge bi-directional charging technologies that are easy to install, user-friendly, and capable of seamlessly integrating with other energy systems.
 

Bi-directional Electric Vehicle Charger Market Companies

Major players operating in the bi-directional electric vehicle charger industry are:

• Delta Electronics, Inc.
• Enphase Energy
• Tesla, Inc.
• Indra Renewable Technologies
• Wallbox USA Inc.
• ABB
• Autel
• Scame Parre SpA
   

Bi-directional Electric Vehicle Charger Industry News

• In May 2024, Fermata Energy partnered with Xcel Energy to launch an innovative Vehicle-to-Everything (V2X) bidirectional charging pilot project. This initiative transforms parked electric vehicles into mobile power units, enhancing grid resilience, lowering electricity costs, and supporting underserved communities and local businesses.
   
• In August 2023, Wallbox entered a strategic partnership with Kia America to introduce bi-directional charging for Kia’s EV9 customers. The initiative has been aimed to launch Wallbox’s second-generation DC bidirectional charger, Quasar 2, to Kia EV9 owners starting in the first half of 2024. Wallbox projects that Quasar 2 will be the first EV charger to enable bidirectional charging for the Kia EV9.
   

The bi-directional electric vehicle charger market research report includes in-depth coverage of the industry with estimates & forecasts in terms of revenue (USD Billion), and shipments (Units) from 2021 to 2032, for the following segments:

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Market, By Power Output

• Level 1 (up to 2 kW)
• Level 2 (3-22 kW)
• Level 3 (Above 22 kW)

Market, By Vehicle Type

• Battery electric
• Plug-in hybrid electric
• Fiel cell electric
• Hybrid electric
• Others

Market, By Sales Channel

• OEM
• Aftermarket

Market, By Application

• Vehicle-to-grid
• Vehicle-to-home
• Vehicle-to-load

Market, By End User

• Residential
• Commercial

The above information is provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • UK
  • Germany
  • France
  • Italy
  • Spain
  • Russia
  • Nordics
  • Rest of Europe
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • ANZ
  • Southeast Asia
  • Rest of Asia Pacific 
• Latin America
  • Brazil
  • Mexico
  • Argentina
  • Rest of Latin America 
• MEA
  • South Africa
  • Saudi Arabia
  • UAE
  • Rest of MEA