V2G News
Report: Vehicle-to-grid Market Size to Apex USD 78.8 Bn by 2034
April 17, 2025 | Back to News home
The global vehicle-to-grid market size was valued at USD 5.3 billion in 2024 and is predicted to hit around USD 78.8 billion by 2034, according to a new report published by Towards Automotive a sister firm of Precedence Research.
As the transition toward a sustainable future accelerates, the global focus on clean energy and environmental responsibility continues to intensify. This growing emphasis drives the demand for innovative solutions to address pressing global energy challenges. Among these, electric vehicles have emerged as pivotal contributors not only in reducing carbon emissions but also in reshaping the energy landscape. Advancements in battery technology are enhancing the performance of EVs while simultaneously enabling a transformative paradigm in energy management through V2G systems. These systems position electric vehicles at the forefront of the energy revolution.
According to the report, a key contributing factor toward market growth is the fact that government and regulatory bodies across the globe are actively promoting the adoption of V2G technologies. Through a combination of legislative measures, tax incentives, infrastructure mandates, and traffic-related benefits, policymakers are encouraging the seamless integration of V2G systems into national energy strategies. One of the most significant advantages of V2G technology lies in its potential to reduce energy costs for both consumers and grid operators. By optimizing energy flow and enabling bidirectional energy exchange, V2G represents a critical step toward a smarter, more sustainable and economically efficient energy grid.
Future Growth Opportunities
The report notes that the overall development of the vehicle-to-grid market is still in its nascent stage. Regulatory frameworks are still evolving, but inconsistencies across countries and regions create uncertainty of stakeholders. Investment in research and development is essential yet limited in scale. Moreover, a unified vision for V2G integration combining environmental, economic, technical, and objective remains to be fully established. Managing large fleets within the V2G ecosystem demand sophisticated energy management systems, predictive analytics, and responsive control platforms, all of which require substantial investment and technologies.
Asia Pacific is expected to witness the fastest growth in the V2G sector in coming years, according to the report. This is mainly due to an expansion of the EV fleet and a strong emphasis on renewable energy integration.
For more information on the report, click here.
Source: Precedence Research | GlobalNewswire
> Back to News
Report: Vehicle-to-grid Market Size to Apex USD 78.8 Bn by 2034
April 17, 2025 | Back to News home
As the transition toward a sustainable future accelerates, the global focus on clean energy and environmental responsibility continues to intensify. This growing emphasis drives the demand for innovative solutions to address pressing global energy challenges. Among these, electric vehicles have emerged as pivotal contributors not only in reducing carbon emissions but also in reshaping the energy landscape. Advancements in battery technology are enhancing the performance of EVs while simultaneously enabling a transformative paradigm in energy management through V2G systems. These systems position electric vehicles at the forefront of the energy revolution.
According to the report, a key contributing factor toward market growth is the fact that government and regulatory bodies across the globe are actively promoting the adoption of V2G technologies. Through a combination of legislative measures, tax incentives, infrastructure mandates, and traffic-related benefits, policymakers are encouraging the seamless integration of V2G systems into national energy strategies. One of the most significant advantages of V2G technology lies in its potential to reduce energy costs for both consumers and grid operators. By optimizing energy flow and enabling bidirectional energy exchange, V2G represents a critical step toward a smarter, more sustainable and economically efficient energy grid.
Future Growth Opportunities
The report notes that the overall development of the vehicle-to-grid market is still in its nascent stage. Regulatory frameworks are still evolving, but inconsistencies across countries and regions create uncertainty of stakeholders. Investment in research and development is essential yet limited in scale. Moreover, a unified vision for V2G integration combining environmental, economic, technical, and objective remains to be fully established. Managing large fleets within the V2G ecosystem demand sophisticated energy management systems, predictive analytics, and responsive control platforms, all of which require substantial investment and technologies.
Asia Pacific is expected to witness the fastest growth in the V2G sector in coming years, according to the report. This is mainly due to an expansion of the EV fleet and a strong emphasis on renewable energy integration.
For more information on the report, click here.
Source: Precedence Research | GlobalNewswire
> Back to News