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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.
Major companies operating in the vehicle-to-grid (V2G) technology industry are:
The BEVs segment accounted for a market share of around 55% in 2023, due to its dual role in optimizing energy usage.
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.
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.
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.