According to a new report from Intel Market Research, the global Vehicle-To-Grid (V2G) Market was valued at USD 35.5 million in 2025 and is projected to reach USD 3404 million by 2032, growing at a robust CAGR of 89.7% during the forecast period (2025–2032). This growth is propelled by the increasing global adoption of electric vehicles, the need for grid stabilization, and advancements in bidirectional charging technology.
Vehicle-to-grid, or V2G technology, is defined as a system that is capable of controlling the bidirectional flow of electricity between the vehicle and the grid. Electricity flows from the grid to the vehicle to charge the battery. Also, electricity can flow back from the vehicle to the grid when required. A majority of the time, electric vehicles are not in use. During this idle time, the batteries of these vehicles can be utilized for supplying electricity back to the grid.
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1. Rising Adoption of Electric Vehicles
The increasing adoption of electric vehicles globally is a key factor fueling demand. As more consumers and businesses switch to electric vehicles, the need for efficient energy management solutions like V2G becomes more apparent. The ability to use EV batteries as distributed energy resources is a game-changer.
2. Grid Stabilization and Renewable Energy Integration
V2G technology plays a crucial role in grid stabilization, especially with the increasing share of intermittent renewable energy sources like wind and solar. By allowing electric vehicles to supply power back to the grid during peak hours, V2G helps in load balancing and reduces the need for fossil fuel-based peaking power plants.
3. Government Incentives and Regulations
Many governments around the world are introducing regulations and incentives to promote both electric vehicle adoption and grid stability. Policies that favor the integration of renewable energy sources often include provisions for smart grid technologies like V2G. These policies make V2G projects more financially viable.
High initial costs: The initial investment required for V2G infrastructure is significant, which can be a barrier for widespread adoption, especially in developing countries.
Battery degradation concerns: One of the main concerns with V2G is the potential for accelerated battery degradation due to the additional charge-discharge cycles. This can affect the lifespan of expensive EV batteries.
Standardization and interoperability: The lack of universal standards for V2G technology can lead to compatibility issues between different manufacturers' equipment.
The global shift toward renewable energy and electrification of transport presents a favorable outlook. Regions such as Asia-Pacific, North America, and Europe are witnessing growing investments in smart grid technologies.
Notably, key players like NUVVE, Enel Energia, and The Mobility House are expanding their market presence through:
Strategic partnerships with utility companies and automakers
Development of more advanced and cost-effective V2G equipment
Increased focus on second-life applications for EV batteries, making V2G more affordable
By Application
Battery Electric Vehicles (BEVs)
Plug-In Hybrid Electric Vehicles (PHEVs)
Fuel Cell Vehicles (FCVs)
By Component
Smart Meters
EV Charging Stations
Software & Services
By Region
North America
Europe
Asia-Pacific
Latin America
Middle East & Africa
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While NUVVE is currently the market leader, several other players are making significant strides. The report provides in-depth competitive profiling of key players, including:
NUVVE
Enel Energia
The Mobility House
China State Grid
Fermata Energy
E.ON
ActewAGL
KEPCO
EDF Energy
ABB
Tokyo Electric Power
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Technology roadmap analysis
Competitive intelligence
Policy and regulatory analysis
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