Vehicle to Grid Chargers Market to record USD 8.85 Bn growth; North America to have 35% market share
The "Vehicle to Grid Chargers Market by End-user and Geography - Forecast and Analysis 2022-2026" report has been added to Technavio's offering. The report expects the market size to grow by USD 8.85 billion, accelerating at a CAGR of 33.37% during the forecast period. According to the report, the market will observe maximum growth in North America. The increasing adoption of electric vehicles is creating high demand in the region. The report provides a detailed analysis of the market size, regional growth opportunities, vendor landscape, key business segments, and others. Download PDF Report Sample
The global vehicle to grid chargers market is fragmented due to the presence of a large number of vendors. The competition among vendors is limited. any vendors are partners in various demonstration projects funded by governments for the development of VGI technologies and to test the feasibility of VGI projects. In addition, they are developing standards for improving interoperability. Since the technology is still in the development stage, new vendors with specialized products can enter the market and gain some market shares.
The ability to meet the growing demand for electricity has been instrumental in driving the growth of the market. However, high dependency on governments for planning and investment might hamper the market growth. Competitors have to focus on differentiating their product offerings with unique value propositions to strengthen their foothold in the market. Market vendors also have to leverage the existing growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The report identifies ABB Ltd., Cenex, Enel Spa, ENGIE SA, EVTEC AG, Honda Motor Co. Ltd., Hyundai Motor Group, Magnum CAP, Mitsubishi Motors Corp., Moixa Energy Holdings Ltd., Nissan Motor GB Ltd., Nuvve Holding Corp., Renault sas, Shell plc, The Mobility House GmbH, Toyota Motor Corp, UK Power Networks Operations Ltd., Liikennevirta Oy Ltd., and OVO Group Ltd. as major market participants. Request Sample Report Here
Vehicle to Grid Chargers Market 2022-2026: Segmentation
The global vehicle to grid chargers market is segmented as below:
- End-user
- Residential Chargers
- Commercial Chargers
The residential chargers segment will have the largest share of the market during the forecast period. The segment is driven by increasing awareness about alternative energy sources.
- Geography
- North America
- Europe
- APAC
- South America
- The Middle East and Africa
North America will dominate market growth, occupying 35% of the global market share. The US and Canada are the key markets for the vehicle to grid chargers in North America. Market growth in this region will be faster than the growth of the market in other regions. Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The vehicle to grid chargers market report covers the following areas:
- Vehicle to Grid Chargers Market Size
- Vehicle to Grid Chargers Market Trends
- Vehicle to Grid Chargers Market Industry Analysis
Vehicle to Grid Chargers Market 2022-2026: Key Highlights
- CAGR of the market during the forecast period 2022-2026
- Detailed information on factors that will assist the vehicle to grid chargers market growth during the next five years
- Estimation of the vehicle to grid chargers market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the vehicle to grid chargers market
- Analysis of the market's competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of vehicle to grid chargers market vendors
