Published Year: 2024
Global Electric Vehicle (EV) Fast-Charging System Market: Focus on Application, Connector Type, Powe
The EV fast-charging system market was valued at $8.39 billion in 2023 and is expected to...
Market Research Report
A quick peek into the report
Table of Contents
1.1 Trends: Current and Future Impact Assessment
1.2 Stakeholder Analysis
1.2.1 Use Case
1.2.2 End User and Buying Criteria
1.3 Market Dynamics Overview
1.3.1 Market Drivers
1.3.2 Market Restraints
1.3.3 Market Opportunities
1.4 Regulatory Landscape
1.5 Patent Analysis
1.6 Start-Up Landscape
1.7 Cost & Pricing Analysis
1.8 Future Outlook and Market Roadmap
1.9 Supply Chain Analysis
1.10 Value Chain Analysis
1.11 Global Pricing Analysis
1.12 Industry Attractiveness
1.13 Technical Analysis of Bidirectional Electric Vehicle Charger
1.14 The Road to Bidirectional Chargers: Grid Integration Levels
1.15 Technology Roadmap
2.1 Application Segmentation
2.2 Application Summary
2.3 Bidirectional Electric Vehicle Charger Market (by Application)
2.3.1 Vehicle-to-Grid (V2G)
2.3.2 Vehicle-to-Home (V2H)
2.3.3 Others
2.4 Bidirectional Electric Vehicle Charger Market (by Source)
2.4.1 OEM
2.4.2 Aftermarket
2.5 Bidirectional Electric Vehicle Charger Market (by Propulsion Type)
2.5.1 Battery Electric Vehicles (BEVs)
2.5.2 Plug-in Hybrid Electric Vehicles (PHEVs)
3.1 Product Segmentation
3.2 Product Summary
3.3 Bidirectional Electric Vehicle Charger Market (by Deployment of Charger)
3.3.1 Domestic
3.3.2 Commercial
3.4 Bidirectional Electric Vehicle Charger Market (by Charging Type)
3.4.1 <20 kWh
3.4.2 20-40 kWh
3.4.3 40-100 kWh
3.4.4 >100 kWh
4.1 Bidirectional Electric Vehicle Charger Market (by Region)
4.2 North America
4.2.1 Regional Overview
4.2.2 Driving Factors for Market Growth
4.2.3 Factors Challenging the Market
4.2.4 Key Companies
4.2.5 Application
4.2.6 Product
4.2.7 U.S.
4.2.7.1 Market by Application
4.2.7.2 Market by Product
4.2.8 Canada
4.2.8.1 Market by Application
4.2.8.2 Market by Product
4.2.9 Mexico
4.2.9.1 Market by Application
4.2.9.2 Market by Product
4.3 Europe
4.3.1 Regional Overview
4.3.2 Driving Factors for Market Growth
4.3.3 Factors Challenging the Market
4.3.4 Key Companies
4.3.5 Application
4.3.6 Product
4.3.7 Germany
4.3.7.1 Market by Application
4.3.7.2 Market by Product
4.3.8 France
4.3.8.1 Market by Application
4.3.8.2 Market by Product
4.3.9 U.K.
4.3.9.1 Market by Application
4.3.9.2 Market by Product
4.3.10 Italy
4.3.10.1 Market by Application
4.3.10.2 Market by Product
4.3.11 The Netherlands
4.3.11.1 Market by Application
4.3.11.2 Market by Product
4.3.12 Nordic Countries
4.3.12.1 Market by Application
4.3.12.2 Market by Product
4.3.13 Rest-of-Europe
4.3.13.1 Market by Application
4.3.13.2 Market by Product
4.4 Asia-Pacific
4.4.1 Regional Overview
4.4.2 Driving Factors for Market Growth
4.4.3 Factors Challenging the Market
4.4.4 Ongoing Projects
4.4.5 Key Companies
4.4.6 Application
4.4.7 Product
4.4.8 China
4.4.8.1 Market by Application
4.4.8.2 Market by Product
4.4.9 Japan
4.4.9.1 Market by Application
4.4.9.2 Market by Product
4.4.10 India
4.4.10.1 Market by Application
4.4.10.2 Market by Product
4.4.11 South Korea
4.4.11.1 Market by Application
4.4.11.2 Market by Product
4.4.12 Rest-of-Asia-Pacific
4.4.12.1 Market by Application
4.4.12.2 Market by Product
4.5 Rest-of-the-World
4.5.1 Regional Overview
4.5.2 Driving Factors for Market Growth
4.5.3 Factors Challenging the Market
4.5.4 Ongoing Projects
4.5.5 Key Companies
4.5.6 Application
4.5.7 Product
4.5.8 South America
4.5.8.1 Market by Application
4.5.8.2 Market by Product
4.5.9 Middle East and Africa
4.5.9.1 Market by Application
4.5.9.2 Market by Product
5.1 Next Frontiers
5.2 Geographic Assessment
5.3 Company Profiles
5.3.1 Wallbox Chargers, S.L.
5.3.1.1 Overview
5.3.1.2 Top Products/Product Portfolio
5.3.1.3 Top Competitors
5.3.1.4 Target Customers
5.3.1.5 Key Personnel
5.3.1.6 Analyst View
5.3.1.7 Market Share
5.3.2 Indra Renewable Technologies Limited
5.3.2.1 Overview
5.3.2.2 Top Products/Product Portfolio
5.3.2.3 Top Competitors
5.3.2.4 Target Customers
5.3.2.5 Key Personnel
5.3.2.6 Analyst View
5.3.2.7 Market Share
5.3.3 Delta Electronics, Inc.
5.3.3.1 Overview
5.3.3.2 Top Products/Product Portfolio
5.3.3.3 Top Competitors
5.3.3.4 Target Customers
5.3.3.5 Key Personnel
5.3.3.6 Analyst View
5.3.3.7 Market Share
5.3.4 Fermata Energy
5.3.4.1 Overview
5.3.4.2 Top Products/Product Portfolio
5.3.4.3 Top Competitors
5.3.4.4 Target Customers
5.3.4.5 Key Personnel
5.3.4.6 Analyst View
5.3.4.7 Market Share
5.3.5 Power Research Electronics B.V.
5.3.5.1 Overview
5.3.5.2 Top Products/Product Portfolio
5.3.5.3 Top Competitors
5.3.5.4 Target Customers
5.3.5.5 Key Personnel
5.3.5.6 Analyst View
5.3.5.7 Market Share
5.3.6 Hyundai Mobis Co. Ltd.
5.3.6.1 Overview
5.3.6.2 Top Products/Product Portfolio
5.3.6.3 Top Competitors
5.3.6.4 Target Customers
5.3.6.5 Key Personnel
5.3.6.6 Analyst View
5.3.6.7 Market Share
5.3.7 ABB
5.3.7.1 Overview
5.3.7.2 Top Products/Product Portfolio
5.3.7.3 Top Competitors
5.3.7.4 Target Customers
5.3.7.5 Key Personnel
5.3.7.6 Analyst View
5.3.7.7 Market Share
5.3.8 Blink Charging Co.
5.3.8.1 Overview
5.3.8.2 Top Products/Product Portfolio
5.3.8.3 Top Competitors
5.3.8.4 Target Customers
5.3.8.5 Key Personnel
5.3.8.6 Analyst View
5.3.8.7 Market Share
5.3.9 Siemens AG
5.3.9.1 Overview
5.3.9.2 Top Products/Product Portfolio
5.3.9.3 Top Competitors
5.3.9.4 Target Customers
5.3.9.5 Key Personnel
5.3.9.6 Analyst View
5.3.9.7 Market Share
5.3.10 Denso Corporation
5.3.10.1 Overview
5.3.10.2 Top Products/Product Portfolio
5.3.10.3 Top Competitors
5.3.10.4 Target Customers
5.3.10.5 Key Personnel
5.3.10.6 Analyst View
5.3.10.7 Market Share
5.3.11 Hitachi Automotive Systems, Ltd.
5.3.11.1 Overview
5.3.11.2 Top Products/Product Portfolio
5.3.11.3 Top Competitors
5.3.11.4 Target Customers
5.3.11.5 Key Personnel
5.3.11.6 Analyst View
5.3.11.7 Market Share
5.3.12 Toyota Industries Corporation
5.3.12.1 Overview
5.3.12.2 Top Products/Product Portfolio
5.3.12.3 Top Competitors
5.3.12.4 Target Customers
5.3.12.5 Key Personnel
5.3.12.6 Analyst View
5.3.12.7 Market Share
5.3.13 MAGNUM CAP
5.3.13.1 Overview
5.3.13.2 Top Products/Product Portfolio
5.3.13.3 Top Competitors
5.3.13.4 Target Customers
5.3.13.5 Key Personnel
5.3.13.6 Analyst View
5.3.13.7 Market Share
5.3.14 Enphase Energy, Inc.
5.3.14.1 Overview
5.3.14.2 Top Products/Product Portfolio
5.3.14.3 Top Competitors
5.3.14.4 Target Customers
5.3.14.5 Key Personnel
5.3.14.6 Analyst View
5.3.14.7 Market Share
5.3.15 Autel Energy
5.3.15.1 Overview
5.3.15.2 Top Products/Product Portfolio
5.3.15.3 Top Competitors
5.3.15.4 Target Customers
5.3.15.5 Key Personnel
5.3.15.6 Analyst View
5.3.15.7 Market Share
5.3.16 The Mobility House GmbH
5.3.16.1 Overview
5.3.16.2 Top Products/Product Portfolio
5.3.16.3 Top Competitors
5.3.16.4 Target Customers
5.3.16.5 Key Personnel
5.3.16.6 Analyst View
5.3.16.7 Market Share
5.3.17 EVBox
5.3.17.1 Overview
5.3.17.2 Top Products/Product Portfolio
5.3.17.3 Top Competitors
5.3.17.4 Target Customers
5.3.17.5 Key Personnel
5.3.17.6 Analyst View
5.3.17.7 Market Share
5.3.18 JET Charge Pty Ltd
5.3.18.1 Overview
5.3.18.2 Top Products/Product Portfolio
5.3.18.3 Top Competitors
5.3.18.4 Target Customers
5.3.18.5 Key Personnel
5.3.18.6 Analyst View
5.3.18.7 Market Share
5.3.19 Emporia Corporation
5.3.19.1 Overview
5.3.19.2 Top Products/Product Portfolio
5.3.19.3 Top Competitors
5.3.19.4 Target Customers
5.3.19.5 Key Personnel
5.3.19.6 Analyst View
5.3.19.7 Market Share
5.3.20 Elinta Charge
5.3.20.1 Overview
5.3.20.2 Top Products/Product Portfolio
5.3.20.3 Top Competitors
5.3.20.4 Target Customers
5.3.20.5 Key Personnel
5.3.20.6 Analyst View
5.3.20.7 Market Share
Research Methodology
Bidirectional Electric Vehicle Charger Market Report Coverage
|
Bidirectional Electric Vehicle Charger Market |
|||
|
Base Year |
2024 |
Market Size in 2025 |
$XX Million |
|
Forecast Period |
2025-2034 |
Value Projection and Estimation by 2034 |
$XX Million |
|
CAGR During Forecast Period |
XX% |
||
Key Market Players and Competition Synopsis
The companies that are profiled have been selected based on inputs gathered from primary experts and analyzing company coverage, product portfolio, and bidirectional electric vehicle charger market penetration.
The competitive landscape of the bidirectional electric vehicle charger market includes different strategies undertaken by bidirectional charger manufacturers to gain market presence. Some strategies adopted by them include new product launch and development activities, market development activities, partnerships, collaborations, joint ventures, and mergers and acquisitions. Among all the strategies adopted, market development activities have dominated the competitive landscape and are the most widely adopted strategies among service providers.
Some prominent names in this bidirectional electric vehicle charger market are:
• Indra Renewable Technologies Limited
• Delta Electronics, Inc.
• Emporia Corp.
• Tsubakimoto Chain Co.
• Wallbox Chargers, S.L.
• Power Research Electronics B.V.
• ABB
• Hyundai Mobis
• Siemens AG
• E.ON SE
• Enel Spa
• JET Charge Pty Ltd
• MAGNUM CAP
• Fermata Energy
• Rectifier Technologies
• Autel Energy
• The Mobility House
• Denso Corporation
• Hitachi
• Blink Charging Co
• Toyota
Companies that are not a part of the aforementioned pool have been well represented across different sections of the report (wherever applicable).
How can this report add value to an organization?
Product/Innovation Strategy: The product segment helps the reader understand the different applications of the available based on source (OEM and aftermarket), application (vehicle to grid, vehicle to home, and others (vehicle to vehicle and vehicle to load)), propulsion type (BEV and PHEV), deployment of charger (domestic and commercial), and charging type (<20 kWh, 20-40 kWh, 40-100 kWh, and >100 kWh). Increasing demand for electric vehicles is pushing the consumption of bidirectional electric vehicle charging. Therefore, the bidirectional electric vehicle charging business is a high-investment and high-revenue generating model.
Growth/Marketing Strategy: The bidirectional electric vehicle charger market is an exponentially growing market holding enormous opportunities for the market players. Some strategies covered in this segment are product launches, market developments, partnerships and collaborations, business expansions, and investments. The companies' preferred strategy has been market developments, partnerships, and collaborations to strengthen their positions in the global bidirectional electric vehicle charger market.
Competitive Strategy: Key players in the global bidirectional electric vehicle charger market analyzed and profiled in the study involve bidirectional electric charger manufacturers. Moreover, a detailed competitive benchmarking of the players operating in the global bidirectional electric vehicle charger market has been done to help the reader understand how players stack against each other, presenting a clear market landscape. Additionally, comprehensive competitive strategies such as partnerships, agreements, and collaborations will aid the reader in understanding the untapped revenue pockets in the market.
Bidirectional Electric Vehicle Charger Market Lifecycle Stage Overview
The bidirectional electric vehicle (EV) charger market is in the early growth phase for several reasons. Firstly, bidirectional charging technology is a relatively new concept, and as such, it has not yet penetrated the market fully. This technology enables electric vehicles to not just consume energy from the grid but also feed it back to the grid, providing grid services and enhancing the overall stability and resiliency of the grid. Secondly, the adoption of electric vehicles is still in its early stages. However, with the increasing demand for greener mobility and the decreasing cost of battery technology, the adoption of electric vehicles is expected to increase in the coming years. As more and more electric vehicles hit the road, the demand for bidirectional charging will increase. Lastly, there is a growing need for grid services such as frequency regulation, which bidirectional charging can provide. Additionally, this need is expected to grow as the share of renewable energy in the grid mix increases, as solar and wind energy are inherently intermittent and require flexible solutions like bidirectional charging to help balance the grid. As a result, the bidirectional electric vehicle charger market is expected to flourish in the forecast period.
Impact
There are several factors driving the growth of the bidirectional electric vehicle (EV) charger market:
1. Increased Demand for Renewable Energy Integration: With the world shifting toward sustainable energy, there has been an increase in demand for integrating renewable energy sources like solar panels and wind turbines into the grid. Bidirectional EV charging technology allows electric vehicle batteries to store excess renewable energy when it is available and feed it back into the grid when there is a shortage.
2. Growing EV Penetration: As the adoption of EVs continues to grow, the demand for charging infrastructure is also increasing. Bidirectional EV charging provides an opportunity to improve charging infrastructure by allowing EVs to not only receive electricity from the grid but also send it back during peak demand.
3. Reduced Energy Costs: Bidirectional charging technology enables EV owners to sell excess energy stored in their vehicle batteries back to the grid or use it during peak demand hours. This feature can help EV owners reduce their energy costs and even earn profits in some cases.
4. Government Incentives: Various governments around the world are providing incentives such as tax credits and subsidies to promote the adoption of bidirectional EV charging technology. This has encouraged manufacturers to invest in research and development of these products.
5. Advancements in Technology: Recent advancements in electric vehicle and battery technology have improved the efficiency and reliability of bidirectional charging systems, making them a more practical option for widespread deployment.
Bidirectional Electric Vehicle Charger Market Segmentation:
Segmentation 1: by Application
• Vehicle-to-Grid (V2G)
• Vehicle-to-Home (V2H)
• Others (Vehicle-to-Vehicle and Vehicle-to-Load)
Segmentation 2: by Source
• OEM
• Aftermarket
Segmentation 3: by Propulsion Type
• Battery Electric Vehicle (BEV)
• Plug-in Hybrid Electric Vehicle (PHEV)
The bidirectional electric vehicle charger market based on the propulsion type segment is expected to be dominated by the BEV segment throughout the forecast period 2025-2034. Based on the application, the V2G segment is expected to dominate the market throughout the forecast period. Moreover, based on the source, the OEM segment is anticipated to dominate the market during the forecast period.
Segmentation 4: by Deployment of Charger
• Domestic
• Commercial
Segmentation 5: by Charging Type
• <20 kWh
• 20-40 kWh
• 40-100 kWh
• >100 kWh
Based on the deployment of charger, the domestic segment is expected to dominate the market, and based on charging type, the <20 kWh is likely to dominate the market, offering a wide scope of development in the forecast period.
Segmentation 6: by Region
• North America
• Europe
• Asia-Pacific
• Rest-of-the-World
Europe is home to several electric vehicle manufacturers as well as bidirectional electric vehicle charger providers. Hence, the region is expected to dominate the bidirectional electric vehicle charger market during the forecast period.
Recent Developments in the Bidirectional Electric Vehicle Charger Market
• In October 2021, WALLBOX Inc. partnered with Nuvve Holding Corporation for a pioneering vehicle-to-grid (V2G) cooperation in Iberia aimed at easing grid load and providing users with substantial financial incentives.
• In October 2022, Indra, in collaboration with Manchester University NHS Foundation Trust (MFT) and Hitachi ZeroCarbon, a division of Hitachi Europe, released the findings from the first-ever NHS initiative to deploy ground-breaking vehicle-to-grid (V2G) technology after five Hitachi-funded Indra V2G chargers were installed for electric pharmacy truck fleet. The Trust received an average 6 per kWh drop in electricity costs.
• In December 2022, Fermata Energy and Phoenix Motorcars formed a long-term partnership for V2X bidirectional charging. According to the deal, Fermata Energy would integrate Phoenix's zero-emission drive system with its V2X bidirectional chargers and AI-driven software platform.
• In February 2020, a publicly financed V2G technology demonstration project received the all-clear in Japan in partnership with Mitsubishi. In several places throughout Japan, a vehicle-to-grid charging network for BEVs and PHEVs is to be established by 2025.
Demand – Drivers and Limitations
The following are the demand drivers for the Bidirectional Electric Vehicle Charger Market:
• Growing Numbers of Electric Vehicles Worldwide
• Government Initiatives for the Development of Electric Vehicle Charging Infrastructure
• Need for Energy Self-Sufficiency
• Advent of Intelligent Transportation Systems
The bidirectional electric vehicle charger market is expected to face some limitations as well due to the following challenges:
• Lack of Standardization of Electric Vehicle (EV) Charging
• Lack of Government Support in Bidirectional Charging
• Reduced Battery Durability and Battery Efficiency of Vehicles due to Charging Lifecycles
• Batteries Overheat Issue in Prolonged Bidirectional Charging
Bidirectional Electric Vehicle Charger Market - A Global and Regional Analysis
Focus on Application, Product, and Country-Level Analysis - Analysis and Forecast, 2025-2034
Some Faq's
Frequently Asked Questions
A bidirectional electric vehicle (EV) charger is a technology that allows an electric vehicle to not only charge its battery but also discharge that battery power back into the grid or to power other devices. Essentially, it enables two-way energy flow between the EV battery and the electricity grid or a building. This is different from traditional chargers, which only allow for one-way energy flow from the grid to the EV battery. With bidirectional charging technology, EVs can serve as a distributed energy resource and help to balance the grid, store renewable energy during off-peak hours, and feed it back into the grid during peak demand periods.
The key business opportunities in the global bidirectional electric vehicle charger market include the growing trend for developing electric vehicles and ongoing technological advancements.
The strategies adopted by the players in the global bidirectional electric vehicle charger market to grow and sustain in the competition by maintaining present customers and attracting new ones are business expansions and investment activities.
A new entrant can focus on partnering with existing service providers. Also, start-ups can focus on funding, launching new innovative products, and expanding their sales and distribution networks.
The following are the USPs of this report:
• A dedicated section focusing on the current and futuristic trends adopted by the key players operating in the bidirectional electric vehicle charger market
• Extensive competitive benchmarking of the top 17 players offering a holistic view of the bidirectional electric vehicle charger market landscape
• Qualitative and quantitative analysis of the bidirectional electric vehicle charger market at the region and country level and granularity by application and product segments
EV charging station manufacturers, EV charger component manufacturers, and electric vehicle manufacturers can buy this report.
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