Press release
Bidirectional Electric Vehicle Charger Market Size, Share Analysis And Trends By 2033
Bidirectional Electric Vehicle Charger Market Size
According to The Business Research Company's, The bidirectional electric vehicle charger market size has grown rapidly in recent years. It will grow from $0.87 billion in 2023 to $1.03 billion in 2024 at a compound annual growth rate (CAGR) of 18.1%. The growth in the historic period can be attributed to government initiatives for the development of electric vehicle charging infrastructure, raising demand for electric automobiles, increase use of EV for public transportation, demand for energy-efficient charging solutions, advent of intelligent transportation systems.
The bidirectional electric vehicle charger market size is expected to see rapid growth in the next few years. It will grow to $2.02 billion in 2028 at a compound annual growth rate (CAGR) of 18.3%. The growth in the forecast period can be attributed to growing numbers of electric vehicles worldwide, raising EV charging infrastructure, need for renewable sources of power and energy, increasing consumer awareness about sustainable mobility, increasing sales of electric vehicles. Major trends in the forecast period include shift towards renewable energy-based transportation infrastructure, technological advancements in energy storage, expansion of electric vehicle charging networks, integration of bidirectional charging in renewable energy projects, advancements in battery technology.
Get The Complete Scope Of The Report @
https://www.thebusinessresearchcompany.com/report/bidirectional-electric-vehicle-charger-global-market-report
Market Drivers and Trends:
The increasing adoption of electric vehicles is expected to propel the growth of bidirectional electric vehicle charger markets going forward. Electric vehicles (EVs) refer to vehicles powered by electricity stored in rechargeable batteries, eliminating the need for traditional internal combustion engines and reducing reliance on fossil fuels. The increasing adoption of electric vehicles is due to technological advancements that enhance battery life, charging infrastructure, and overall performance. Bidirectional charging allows electric vehicles (EVs) to engage with the electrical grid in a dynamic and adaptable way. During high demand or grid instability, EVs can return surplus energy to the grid, offering ancillary services like frequency regulation, peak shaving, and demand response. For instance, in April 2023, according to a report published by the International Energy Agency, a France-based autonomous intergovernmental organization, in 2022, the proportion of new car sales represented by electric vehicles rose to 14%, a significant increase from approximately 9% in 2021. Therefore, the increasing adoption of electric vehicles is driving the growth of the bidirectional electric vehicle charger market.
Major companies operating in the bidirectional electric vehicle charger market focus on developing vehicle-to-grid (V2G) bi-directional chargers, such as the advanced EQ 200 charger, to gain a competitive edge. Advanced EQ 200 charger are charging stations facilitating electric vehicles feeding stored energy back into the grid. They achieve this by accommodating both charging from the grid and discharging energy back to it. For instance, in November 2023, Blink Charging Co., a US-based electric vehicle charging solutions company, launched an advanced EQ 200 charger. The EQ 200 represents an advanced category of bi-directional chargers aiming to transition from conventional static EV charging to a more adaptable and eco-friendly energy management system, aligning with the evolution of grid technology. It has intelligent features such as Bluetooth, Wi-Fi, Ethernet, and various connectivity options, including 2G and 4G. This charger seamlessly integrates with various load-balancing and smart energy management systems. This versatility enables it to support emerging technologies such as vehicle-to-grid (VTG) and vehicle-to-everything (VTX), ensuring adaptability as new systems come into play.
Key Benefits for Stakeholders:
• Comprehensive Market Insights: Stakeholders gain access to detailed market statistics, trends, and analyses that help them understand the current and future landscape of their industry.
• Informed Decision-Making: The reports provide crucial data that support strategic decisions, reducing risks and enhancing business planning.
• Competitive Advantage: With in-depth competitor analysis and market share information, stakeholders can identify opportunities to outperform their competition.
• Tailored Solutions: The Business Research Company offers customized reports that address specific needs, ensuring stakeholders receive relevant and actionable insights.
• Global Perspective: The reports cover various regions and markets, providing a broad view that helps stakeholders expand and operate successfully on a global scale.
Ready to Dive into Something Exciting? Get Your Free Exclusive Sample of Our Research Report @
https://www.thebusinessresearchcompany.com/sample.aspx?id=14863&type=smp
Major Key Players of the Market:
Volkswagen Group, Mercedes-Benz AG, Bayerische Motoren Werke AG, Hyundai Motor Company, Honda Motor Co. Ltd., Tesla Inc., Hitachi Ltd., Siemens AG, Audi AG, BYD Company Limited, Panasonic Corporation, Renault S.A., Schneider Electric SE, ABB Group, Eaton Corporation plc, Check Point Software Technologies, LG Electronics Inc., ChargePoint Inc., EVBox Group, Tritium Pty Ltd, Blink Charging Co., Mitsubishi Electric Corporation, Toyota Industries Corporation, Nissan Motor Corporation, Delta Electronics Inc.
Bidirectional Electric Vehicle Charger Market 2024 Key Insights:
• The bidirectional electric vehicle charger market size is expected to see rapid growth in the next few years. It will grow to $2.02 billion in 2028 at a compound annual growth rate (CAGR) of 18.3%.
• Electric Vehicle Adoption Fuels Growth In Bidirectional Charger Market
• Technological Advancements Drive Innovation In Bidirectional Electric Vehicle Charger Market
• Asia-Pacific was the largest region in the bidirectional electric vehicle charger market in 2023
We Offer Customized Report, Click @
https://www.thebusinessresearchcompany.com/customize?id=14863&type=smp
Learn More About The Business Research Company
The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info
Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ "
Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info
Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Learn More About The Business Research Company
The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Bidirectional Electric Vehicle Charger Market Size, Share Analysis And Trends By 2033 here
News-ID: 3692288 • Views: …
More Releases from The Business research company
Data Storage Market Size, Share, Trends Analysis By 2033
"The Business Research Company recently released a comprehensive report on the Global Data Storage Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.
According to The Business Research Company's, The data storage market size…
Cloud Data Warehouse Market Size, Share Analysis And Outlook By 2033
"The Business Research Company recently released a comprehensive report on the Global Cloud Data Warehouse Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.
According to The Business Research Company's, The cloud data warehouse…
Automated Content Moderation Market Size, Share Analysis And Trends By 2033
"The Business Research Company recently released a comprehensive report on the Global Automated Content Moderation Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.
According to The Business Research Company's, The automated content moderation…
Adaptive Cruise Control And Blind Spot Detection Market Size, Share Analysis And …
"The Business Research Company recently released a comprehensive report on the Global Adaptive Cruise Control And Blind Spot Detection Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.
According to The Business Research Company's,…
More Releases for Electric
Electric Motors for Electric Vehicle Market by Manufacturers: Hitachi Automotive …
Electric Motors for Electric Vehicle Market research report analyzes and studies the Electric Motors for Electric Vehicle Market's production, value, financial status, and capacity. It also provides information about market share and development plans during the projected period. Moreover, the Electric Motors for Electric Vehicle Market research report provides data about key manufacturers and focuses on the market competition landscape by analyzing the market by application, product type, and region.
Click…
Thermal Overload Relay Market 2021 Precise Outlook - ABB, Schneider Electric, Ea …
Global Thermal Overload Relay Market Size, Status and Forecast 2021
The Global Thermal Overload Relay Market report offers in-depth information and comprehensive analysis of the market. It provides a complete overview of the market with detailed insights on key aspects including the current market situation, potential size, volume, and dynamics of the market. This research report makes a thorough assessment of the COVID-19 pandemic and its impact on the current market…
Wireless Sensors Market Regional Outlook, Top Manufactures General Electric, Yok …
The Global Wireless Sensors Market is measurement tools equipped with transmitters that convert signals from instruments into radio transmission signals. Increasing interest of manufacturers in research and development of more efficient Wireless sensors are expected to drive the wireless sensors market. However, this market is highly competitive and price sensitive are hampering the growth of the market.
For More Info, Get Sample Report Here @ https://www.orianresearch.com/request-sample/1371276
What you can expect from…
Global Electric Motors for Electric Vehicles Market 2025 | MAHLE GmbH, Protean E …
Researchmoz added Most up-to-date research on "Global Electric Motors for Electric Vehicles Market Insights, Forecast to 2025" to its huge collection of research reports.
This report presents the worldwide Electric Motors for Electric Vehicles market size (value, production and consumption), splits the breakdown (data status 2013-2018 and forecast to 2025), by manufacturers, region, type and application.
This study also analyzes the market status, market share, growth rate, future trends, market drivers, opportunities…
Yokogawa Electric, General Electric Profiled in Smart Factory Solutions Market 2 …
Global Smart Factory Solutions Market which focuses on effective strategies of the business framework. It highlights the recent market trends stringent energy regulations and growing pressure to conform to energy efficiency. The research methods and tools used to analyze the studies are both primary and secondary research.
This market research report on analyzes the growth prospects for the key vendors operating in this market space including Siemens, ABB, Honeywell International, Yokogawa…
Global Quartz Heat Lamps Market 2017 : Indu Electric Gerber, Schneider Electric, …
The Market Research Store report offers majority of the latest and newest industry data that covers the overall market situation along with future prospects for Quartz Heat Lamps market around the globe. The research study includes significant data and also forecasts of the global market which makes the research report a helpful resource for marketing people, analysts, industry executives, consultants, sales and product managers, and other people who are in…
