The Asia-Pacific bidirectional electric vehicle charger market is expected to grow significantly over the forecast period due to the rising adoption of electric vehicles and the increasing focus on renewable energy. Bidirectional chargers allow electric vehicles to both charge and discharge power, supporting grid and home energy systems. Growing government initiatives for clean energy and electric mobility integration with renewable energy are driving market growth in the region.
The Asia-Pacific bidirectional EV charger market is growing rapidly due to rising EV adoption and renewable energy integration. Bidirectional charging improves grid stability, driven by environmental awareness, government incentives, and energy efficiency. BIS
Research projects the market to grow from $83.7 million in 2022 to $699.0 million by 2031, with a 26.60% CAGR.
Segmentation 1: based on Application
• Vehicle-to-Grid (V2G)
• Vehicle-to-Home (V2H)
• Others (Vehicle-to-Vehicle and Vehicle-to-Load)
Segmentation 2: based on Source
• OEM
• Aftermarket
Segmentation 3: based on Propulsion Type
• Battery Electric Vehicle (BEV)
• Plug-in Hybrid Electric Vehicle (PHEV)
Segmentation 4: based on Deployment of Charger
• Domestic
• Commercial
Segmentation 5: based on Charging Type
• <20 kWh
• 20-40 kWh
• 40-100 kWh
• >100 kWh
Segmentation 6: based on Country
• Japan
• India
• South Korea
• Rest-of-Asia-Pacific and Japan
The Asia-Pacific bidirectional EV charger market is growing fast, with applications like V2G and V2H, catering to both BEVs and PHEVs. It's used for both home and commercial setups, with power capacities ranging from under 20 kWh to over 100 kWh. Key regions include Japan, India, South Korea, and other parts of Asia-Pacific.
Key Market Players
The profiled companies were chosen based on insights from primary experts, as well as an analysis of their market coverage, product offerings, and level of market penetration.
• Delta Electronics, Inc.
• Hyundai Mobis Co. Ltd.
• Denso Corporation
• Hitachi Automotive Systems, Ltd.
• Toyota Industries Corporation
Market Drivers: The growing adoption of electric vehicles in Asia-Pacific, fueled by environmental awareness and government incentives, is driving demand for bidirectional EV chargers. The integration of renewable energy into the grid also boosts demand by enhancing grid stability.
Market Challenges: High initial costs, limited infrastructure, regulatory hurdles, and a lack of standardized protocols and consumer awareness are key challenges for the market.
Market Opportunities: Rising EV adoption, government support, and investment in green infrastructure present significant opportunities for innovation and expansion in bidirectional charging technology.
In conclusion, the Asia-Pacific bidirectional EV charger market is set for significant growth, driven by rising EV adoption and renewable energy integration. Government support and green infrastructure investments offer strong opportunities, despite challenges like high costs and limited infrastructure. Explore BIS Research’s tailored Go-to-Market Strategy that help businesses explore and enter emerging markets, promising professional guidance to unlock new opportunities.
