Global Vehicle-to-Grid Market Expected to Reach USD 62.0 Billion by 2033 - IMARC Group

Global Vehicle-to-Grid Market Statistics, Outlook and Regional Analysis 2025-2033

The global vehicle-to-grid market size was valued at USD 4.6 Billion in 2024, and it is expected to reach USD 62.0 Billion by 2033, exhibiting a growth rate (CAGR) of 33.4% from 2025 to 2033.

The market is experiencing substantial growth as it focuses on sustainable energy solutions and grid resilience. Sustainable vehicle-to-grid enables EVs to function as an energy storage units. Similarly, this innovative advancement addresses energy challenges, which include renewable energy integration and peak demand management, thereby becoming increasingly important as countries aim to meet net-zero targets. In line with this, incentives provided by governments for V2G adoption and the reduction in energy costs for consumers further strengthen its appeal. For instance, in October 2024, Nissan unveiled to launch of reasonable bi-directional V2G technology by 2026. The UK's EV rollout is anticipated to transform the use of EVs, turning them into energy assets that save consumers money while also supporting the stability of the energy grid. Likewise, the Renault Group, Mobilize, and The Mobility House introduced V2G technology in France, allowing owners of the Renault 5 to charge and drive for free using bi-directional AC charging. These advancements show automakers' commitment to creating integrated solutions that benefit the grid and consumers.

Moreover, advancements in regulatory frameworks and infrastructure are further propelling the V2G market. Germany’s initiatives to prepare a regulatory environment for V2G solutions demonstrate how governments are aligning policy with technological advancements to foster growth in this sector. These efforts ensure smoother adoption and scalability of V2G systems. Furthermore, collaborative projects like the EVVE initiative highlight the role of partnerships in driving innovation and deployment. In October 2024, Nuvve joined the EVVE project, backed by the EDF Group, to accelerate V2G deployment across Europe. This initiative aims to install 800 bidirectional charging stations using CCS standards, reducing CO2 emissions and enhancing grid flexibility through EV energy storage. Concurrently, this project seeks to reduce CO2 emissions with the use of EV energy storage and increase grid flexibility by installing 800 bidirectional charging stations that adhere to CCS standards. Collectively, these advancements highlight the potential of vehicle-to-grid technology in creating a cost-effective, more resilient, and sustainable energy ecosystem.

Global Vehicle-to-Grid Market Statistics, By Region

The market research report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, North America leads the vehicle-to-grid market due to its strong government support, developed technological infrastructure, and growing usage of electric vehicle (EV).

North America Vehicle-to-Grid Market Trends:

North America dominates the overall market, driven by the region's benefits from substantial investments in renewable energy integration and grid modernization that complement the growing need for V2G solutions. A notable development bolstering this dominance is the October 2024 launch of GridLink by XCharge North America, a 300 kW bidirectional EV charging station equipped with lithium iron phosphate batteries and grid-support capabilities. This innovation enhances energy demand management, renewable energy integration, and grid stability, directly addressing EV infrastructure challenges. These developments, coupled with supportive policies and an increasing focus on sustainability, strengthen the region's leadership in the market.

Europe Vehicle-to-Grid Market Trends:

Europe's vehicle-to-grid market is driven by renewable energy integration, particularly in countries like Denmark, where wind energy supports grid balancing. Policies like the European Green Deal encourage EV adoption, creating opportunities for grid connectivity. Initiatives such as the "Parker Project" demonstrate Denmark's leadership in V2G applications, thereby emphasizing grid stability and energy optimization, solidifying Europe's position as a hub for V2G advancements.

Asia Pacific Vehicle-to-Grid Market Trends:

In Asia Pacific, the market thrives on quick adoption of EVs, which is led by Japan's innovative advancements in vehicle-to-grid technology. Additionally, the country’s use of bidirectional chargers, as seen in projects like Nissan's V2G pilot, demonstrates its dedication to emergency power supply during disasters. Furthermore, supportive policies and high urbanization rates across the region further position Asia Pacific as a key growth area for vehicle-to-grid integration.

Latin America Vehicle-to-Grid Market Trends:

In Latin America, Brazil showcases how vehicle-to-grid technology supports hydropower-dominated grids during dry seasons. Energy storage through EVs is becoming a vital strategy for mitigating power shortages. In parallel to this, the government's focus on pilot V2G programs and renewable energy projects highlights the region's efforts to adopt advanced technologies and optimize grid reliability in the midst of growing EV adoption.

Middle East and Africa Vehicle-to-Grid Market Trends:

The Middle East and Africa region, particularly the UAE, explores V2G for renewable energy management. Pilot projects like Dubai's EV Green Charger initiative aim to integrate solar energy into grids using bidirectional EV charging. This supports grid resilience in a region heavily reliant on solar power, emphasizing the importance of V2G technology in achieving energy diversification goals.

Top Companies Leading in the Vehicle-to-Grid Industry

Some of the leading vehicle-to-grid market companies include AC Propulsion Inc., Coritech Services Inc., DENSO Corporation, Enerdel Inc., ENGIE Group, EV Grid, Hitachi Ltd., Nissan Motor Company Ltd., NRG Energy Inc., OVO Energy Ltd., among many others. In June 2023, ENGIE Group launched their new brand, 'ENGIE Vianeo,’ which aims to develop heavy goods vehicles, along with electric charge points for cars, in France by 2025.

Global Vehicle-to-Grid Market Segmentation Coverage

• On the basis of the solution type, the market has been bifurcated into electric vehicle supply equipment (EVSE), smart meters, home energy management (HEM) systems, and software solutions, wherein electric vehicle supply equipment (EVSE) represents the dominated segment. EVSE systems are vital for optimizing energy distribution and enhancing grid stability with advancements in smart grid.
• Based on the vehicle type, the market is categorized into battery electric vehicle (BEV), fuel cell electric vehicle (FCEV), and plug-in hybrid electric vehicle (PHEV), amongst which battery electric vehicle (BEV) leads the market. Their ability to support grid stability and integrate renewable energy sources further bolsters their market share.
• On the basis of the charging type, the market has been divided into unidirectional charging and bidirectional charging. Among these, bidirectional charging exhibits a clear dominance in the market. It supports the integration of renewable energy sources by storing excess energy during low demand and releasing it during peak periods.
• Based on the application, the market is bifurcated into peak power sales, spinning reserves, base load power, and others, wherein peak power sales dominate the market. This practice enhances grid stability and efficiency, reduces reliance on traditional power plants, and supports the integration of renewable energy sources.