South Korea VGI/V2G/GIV/Vehicle Grid Integration Market was valued at USD 0.4 Billion in 2022 and is projected to reach USD 1.5 Billion by 2030, growing at a CAGR of 18.4% from 2024 to 2030.
The Vehicle Grid Integration (VGI), Vehicle-to-Grid (V2G), and Grid Integrated Vehicle (GIV) markets in South Korea are gaining substantial momentum. As the global shift toward electric vehicles (EVs) intensifies, these technologies present a critical intersection of sustainable energy and transportation. By enabling EVs to interact with the power grid, these systems offer benefits such as enhanced grid stability, efficient energy storage, and the potential for reducing dependency on traditional energy sources. The South Korean market is particularly poised for growth due to the government's emphasis on green energy and EV adoption, which plays a key role in the broader transition to smart grids.
The primary demand for VGI/V2G/GIV systems stems from industries seeking ways to optimize energy usage and reduce operational costs. These technologies allow electric vehicles to serve as mobile energy storage units, capable of discharging power back to the grid during peak times or when needed most. Industries, particularly in manufacturing and energy sectors, require robust and reliable systems to ensure seamless integration of EVs into the grid, balancing load fluctuations, and providing emergency backup power. This need for grid stability is pushing industries to adopt more VGI/V2G/GIV solutions.
South Korea’s commitment to becoming a leader in smart grid technology is evident in its continuous investment in renewable energy sources. The government’s role in facilitating the VGI/V2G/GIV market cannot be overstated. Subsidies, grants, and favorable policies are accelerating the installation of charging infrastructure and V2G-capable systems. Additionally, industries are increasingly aware of the value of utilizing EV fleets for energy management, presenting a significant business opportunity within the broader context of grid integration.
By integrating VGI/V2G/GIV solutions, South Korea can enhance its national grid's efficiency, lower carbon emissions, and support the adoption of renewable energy. This trend is expected to continue as industries and government entities work together to build a more resilient and sustainable energy infrastructure. The increasing penetration of EVs, coupled with advancements in VGI technology, will likely see an expansion of the market, making it a focal point of energy innovation in the coming years.
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AC Propulsion
Coritech Services
Denso
Hitachi
Autoport
BMW
Daimler
Ford Motor
Honda
Kisensum
Mitsubishi Motors
Nissan
Tesla Motors
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By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the South Korea VGI/V2G/GIV/Vehicle Grid Integration Market
Vehicle-to-Grid (V2G)
Vehicle-to-Home (V2H)
Vehicle-to-Building (V2B)
Vehicle-to-Everything (V2X)
Grid-to-Vehicle (G2V)
Emergency Power Supply
Peak Shaving and Load Shifting
Frequency Regulation
Energy Arbitrage
Renewable Energy Integration
Residential
Commercial
Industrial
Public Sector
Home Charging Stations
Public Charging Stations
Fleet Charging Solutions
Fast Charging Infrastructure
Battery Electric Vehicles (BEV)
Plug-in Hybrid Electric Vehicles (PHEV)
Fuel Cell Electric Vehicles (FCEV)
Light Commercial Vehicles (LCV)
Heavy Commercial Vehicles (HCV)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
For More Information or Query, Visit @ South Korea VGI/V2G/GIV/Vehicle Grid Integration Market Research Analysis
1. Introduction of the South Korea VGI/V2G/GIV/Vehicle Grid Integration Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. South Korea VGI/V2G/GIV/Vehicle Grid Integration Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. South Korea VGI/V2G/GIV/Vehicle Grid Integration Market, By Type
6. South Korea VGI/V2G/GIV/Vehicle Grid Integration Market, By Application
7. South Korea VGI/V2G/GIV/Vehicle Grid Integration Market, By Geography
Asia-Pacific
China
Japan
Korea
India
Australia
Indonesia
Thailand
Philippines
Malaysia and Vietnam
8. South Korea VGI/V2G/GIV/Vehicle Grid Integration Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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