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Development Trends and Market Opportunities for V2G Technology

  • Report

  • 24 Pages
  • June 2024
  • Region: Global
  • Market Intelligence & Consulting Institute (MIC)
  • ID: 5986487
Vehicle-to-Grid (V2G) technology enables bidirectional interaction between vehicles and the power grid, transforming electric vehicles into 'mobile power sources on wheels.' This technology not only effectively alleviates peak load pressure on the grid but also meets the storage needs for renewable energy. It is anticipated that the V2G equipment market will experience double-digit compound annual growth rates (CAGR) through 2030. However, challenges persist across the vehicle, charging infrastructure, and grid interfaces, presenting both opportunities and obstacles.

Table of Contents

1. Definition and Value of V2G

2. Major Countries' V2G Policy Layouts
2.1 Potential Business Opportunities in V2G
2.2 Major Countries' V2G Implementation Policies

3. Challenges in V2G Industry Development
3.1 Vehicle Side: Key Issue Lies in Battery
3.1.1 Vehicle Battery Lifespan
3.1.2 User Acceptance
3.2 Charging Side: Product Price as Pain Point
3.2.1 Standardization
3.2.2 Construction Costs
3.3 Grid Side: Grid Stability Challenges
3.3.1 Grid Resilience
3.3.2 Grid Intelligence

4. Key V2G Equipment and Major International Manufacturers
4.1 Vehicle Side
4.1.1 Bidirectional Batteries (Vehicles Supporting V2G)
4.1.2 Vehicle Battery Management Systems (BMS)
4.2 Charging Side
4.2.1 Smart Charging Stations
4.2.2 V2G Bidirectional Charging Stations
4.3 Grid Side
4.3.1 Smart Meters/Bidirectional Metering Devices

5. Conclusion
5.1 V2G Technology Has Commercial Potential and Aids National Decarbonization Efforts
5.2 Lack of Infrastructure, Unified Standards, and Business Models as Main Bottlenecks

Appendix

List of Companies

List of Tables
Table 1: Policies and Demonstration Projects for V2G Expansion in Major Countries
Table 2: Major Challenges Faced by the V2G Industry
Table 3: Mainstream Vehicle Models Supporting V2G
Table 4: Smart Charging Station Products from Select Manufacturers
Table 5: V2G Charging Station Products from Select Manufacturers

List of Figures
Figure 1: V2G Architecture: Vehicle, Charging Station, Grid
Figure 2: Global V2G Equipment Market Size
Figure 3: Comparison of Electricity Purchase and Sale Rates by Taiwan Power Company
Figure 4: V2G Communication Protocol Standards
Figure 5: Six Key V2G Equipment Components

Companies Mentioned (Partial List)

A selection of companies mentioned in this report includes, but is not limited to:

  • ABB
  • Aclara
  • Arch Meter
  • Audi
  • Autel
  • Blink
  • BYD
  • CATL
  • Chubu Electric Power Company
  • Delta Electronics
  • EDMI
  • Enel-x
  • eTreego
  • EVBox
  • Fermata Energy
  • Fimer
  • Ford
  • GE Energy
  • Honda
  • Hyundai
  • Itron
  • Jingxing
  • Kia
  • LG Chem
  • Marelli
  • MarkLines
  • Mitsubishi
  • Myenergi
  • Nissan
  • Nuvve
  • Panasonic
  • Porsche
  • Renault
  • Siemens
  • Taipower
  • Tesla
  • Toshiba
  • Toyota Tsusho
  • Volkswagen
  • Volvo
  • Wallbox
  • Zerova

Methodology

Primary research with a holistic, cross-domain approach

The exhaustive primary research methods are central to the value that the analyst delivers. A combination of questionnaires and on-site visits to the major manufacturers provides a first view of the latest data and trends. Information is subsequently validated by interviews with the manufacturers' suppliers and customers, covering a holistic industry value chain. This process is backed up by a cross-domain team-based approach, creating an interlaced network across numerous interrelated components and system-level devices to ensure statistical integrity and provide in-depth insight.

Complementing primary research is a running database and secondary research of industry and market information. Dedicated research into the macro-environmental trends shaping the ICT industry also allows the analyst to forecast future development trends and generate foresight perspectives. With more than 20 years of experience and endeavors in research, the methods and methodologies include:

Method

  • Component supplier interviews
  • System supplier interviews
  • User interviews
  • Channel interviews
  • IPO interviews
  • Focus groups
  • Consumer surveys
  • Production databases
  • Financial data
  • Custom databases

Methodology

  • Technology forecasting and assessment
  • Product assessment and selection
  • Product life cycles
  • Added value analysis
  • Market trends
  • Scenario analysis
  • Competitor analysis

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