Vehicle-to-Grid (V2G) technology enables bidirectional interaction between vehicles and the power grid, transforming electric vehicles into "mobile power sources on wheels." This technology not only effectively alleviates peak load pressure on the grid but also meets the storage needs for renewable energy. It is anticipated that the V2G equipment market will experience 12.5% compound annual growth rates (CAGR) from 2023-2030, according to Market Intelligence & Consulting Institute(MIC).

Global V2G Equipment Market Size, 2023-2030

Source: MIC, June 2024

Among the key equipment, electric vehicle supply equipment (EVSE) is the primary link between EVs and the grid, making it the largest contributor to the V2G market scale.

About Market Intelligence & Consulting Institute (MIC):

Established in 1987, Market Intelligence & Consulting Institute (MIC) is a division of III (Institute for Information Industry), a major government think tank, and one of the leading IT research institutes in Taiwan. MIC specializes in industry and market research. With over three decades of experience, MIC provides valuable insights and data-driven recommendations to assist businesses in making informed decisions.

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