London, 27 March 2015 – The ability of vehicle-to-grid systems to meet high electric load demands has resulted in the immense growth of the Global Vehicle-to-Grid (V2G) Market, which is expected to post a CAGR of 47.68 percent from 2015-2019, says research firm Technavio.
About the Report
V2G technologies enable the usage of electric vehicles as distributed storage devices. The stored power can be utilized to feed the electrical system during periods of peak demand or for use in homes and offices. V2G is useful in times of sudden surges in electrical load, and as a back-up in case of emergencies.
“Load levelling is one of the most essential functions of V2G technology and helps balance loads between periods of high and low demand,” says Faisal Ghaus, Vice President of Technavio.
The latest report by Technavio also emphasizes government incentives and subsidies on electric vehicle (EV) charging stations and the increasing sales of EVs that are expected to contribute to the growing number of charging stations worldwide.
“The number of charging stations in the Chinese and European markets will grow at a rapid rate, given the cost reductions and entrepreneurial development in the regions,” says Ghaus.
Market Scope and Calculation of Market Size
The report covers the present scenario and growth prospects of the Global V2G Market from 2015-2019. The market size has been calculated from the global revenue generated from the sales of V2G applications.
Key Information Covered in the Report:
Key Vendors:
- AC Propulsion Inc.
- Coritech Services Inc.
- EV Grid Inc.
Market Growth Drivers:
- Ability to Meet Peak Electric Demands
- For a full detailed list, view our report.
Market Challenges:
- Availability of V2G Supply during peak demand
- For a full detailed list, view our report.
Market Trends:
- Rise in Number of EV Charging Stations
- For a full detailed list, view our report.
https://www.technavio.com/%3Cp%3E%3Ca%20href%3D%22http%3A//www.technavio….
