Vehicle-to-Grid Technology Market Huge Growth in Future Scope 2023-2032 | Reports and Data
The global Vehicle-to-Grid (V2G) technology market size was USD 4.72 Billion in 2022 and is expected to reach USD 7.63 Billion in 2032, and register a revenue CAGR of 6.3% during the forecast period. The Vehicle-to-Grid (V2G) technology market revenue growth is expected to expand significantly over the forecast period. When not in use, Electric Vehicles (EVs) can transmit extra energy back to the power grid thanks to V2G technology, which helps to stabilize the system and brings in money for the owners of the vehicles. The rise in demand for Renewable Energy sources, government incentives and regulations, and the expanding use of electric vehicles are major factors driving the market revenue growth.
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