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Vehicle-to-Grid (V2G) Technology Market Share

Report ID: GMI7732
Published Date: Dec 2023
Report Format: PDF

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Vehicle-to-Grid Technology Market Share

Nissan Motor Corporation and Mitsubishi Motors Corporation hold a significant revenue share in the vehicle-to-grid (V2G) technology industry. Nissan Motor Corporation focuses on Collaboration with utilities, energy companies, and technology providers to establish partnerships for the development and deployment of V2G infrastructure and services.

Mitsubishi Motors Corporation is focused on expanding the availability of electric vehicles with V2G capabilities in key international markets where there is growing interest and support for sustainable mobility and smart grid solutions. Also, the company is supporting the development of charging infrastructure, including bidirectional charging stations, to enhance the practicality and accessibility of V2G services for Mitsubishi electric vehicle owners.

Vehicle-to-Grid Technology Market Companies

Major companies operating in the vehicle-to-grid (V2G) technology industry are:

ABB Ltd.
AC Propulsion, Inc.
Denso Corporation
Edison International
Engie Group
Groupe Renault
Hitachi Ltd.
Honda Motor Co.,Ltd.
Mitsubishi Motors Corporation
Nissan Motor Corporation
NRG Energy Inc.
Nuvve Corporation
OVO Energy Ltd.
Toyota Shokki

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market size of vehicle-to-grid (V2G) technology reached USD 3.1 billion in 2023 and is set to expand at 50% CAGR between 2024 and 2032, owing to the increasing renewable energy integration.

The BEVs segment accounted for a market share of around 55% in 2023, due to its dual role in optimizing energy usage.

Europe market share was around 40% in 2023, attributed to the region's strong commitment to sustainable energy practices, coupled with supportive government policies and incentives.

ABB Ltd., AC Propulsion, Inc., Denso Corporation, Edison International, Engie Group, Groupe Renault, Hitachi Ltd., Honda Motor Co.,Ltd., Mitsubishi Motors Corporation, Nissan Motor Corporation, NRG Energy Inc., Nuvve Corporation, OVO Energy Ltd., and Toyota Shokki.