Dublin, Jan. 25, 2024 (GLOBE NEWSWIRE) — The “Europe Bidirectional Electric Vehicle Charger Market: Analysis and Forecast, 2022-2031” report has been added to ResearchAndMarkets.com’s offering.
The Europe bidirectional electric vehicle charger market (excluding U.K.) was valued at $338.3 million in 2022 and is anticipated to reach $1,200.3 million by 2031, witnessing a CAGR of 15.11% during the forecast period 2022-2031. The bidirectional electric vehicle charger market is projected to experience growth due to the rising demand for renewable energy sources and the increasing sales of electric vehicles.
Market Introduction
The bidirectional electric vehicle (EV) charger market in Europe is in its early stages but shows significant growth potential. This market features bidirectional charging technology, allowing EVs not only to draw power from the grid but also to inject surplus energy back, improving grid stability. The increasing adoption of electric vehicles across Europe is a primary driver. Environmental concerns and government incentives drive consumers toward eco-friendly transportation, boosting the demand for bidirectional charging infrastructure.
Moreover, the integration of renewable energy into the European grid is on the rise. Bidirectional EV chargers play a vital role in managing renewable energy intermittency, enhancing energy efficiency, and providing grid services like frequency regulation.
In conclusion, Europe’s bidirectional electric vehicle charger market responds to the growing demand for sustainable transportation and renewable energy integration. As EV adoption continues to rise and renewables become more prevalent in the grid, this market is poised for substantial growth and innovation in the years ahead.
Key Market Dynamics
Drivers
- Growing Numbers of Electric Vehicles Worldwide
- Government Initiatives for Development of Electric Vehicle Charging Infrastructure
- Need for Energy Self-Sufficiency
- Advent of Intelligent Transportation Systems
Restraints
- 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
Opportunities
- Rise in Demand for Solar-Powered Electric Vehicles
- Growth of Aftermarket Bidirectional Chargers
Market Segmentation:
Segmentation by Application
- Vehicle-to-Grid (V2G)
- Vehicle-to-Home (V2H)
- Others (Vehicle-to-Vehicle and Vehicle-to-Load)
Segmentation by Source
Segmentation by Propulsion Type
- Battery Electric Vehicle (BEV)
- Plug-in Hybrid Electric Vehicle (PHEV)
Segmentation by Deployment of Charger
Segmentation by Charging Type
- < 20 kWh
- 20-40 kWh
- 40-100 kWh
- >100 kWh
Segmentation by Country
- Germany
- France
- Italy
- Netherlands
- Nordic Countries
- Rest-of-Europe
Key Market Players and Competition Synopsis
- Indra Renewable Technologies Limited
- Wallbox Chargers, S.L.
- Siemens AG
- Power Research Electronics
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 149 |
| Forecast Period | 2022 – 2031 |
| Estimated Market Value (USD) in 2022 | $338.3 Million |
| Forecasted Market Value (USD) by 2031 | $1200.3 Million |
| Compound Annual Growth Rate | 15.1% |
| Regions Covered | Europe |
Key Topics Covered:
1 Markets
1.1 Industry Outlook
1.1.1 Trends: Industry Dynamics Defining the Future Trends in Bidirectional Electric Vehicle Charger Market
1.1.1.1 Increase in the Demand for Back-Up Power and Portable Energy Sources
1.1.1.2 Technology for the Redistribution of Energy to Reduce Energy Consumption Costs
1.1.1.3 Increase in the Need for Smart EV Charging Techniques Worldwide
1.1.2 Supply Chain Network/MAP
1.1.3 Ecosystem/Ongoing Programs
1.1.3.1 Consortiums, Associations, and Regulatory Bodies
1.1.3.2 Government Programs and Initiatives
1.1.3.3 Programs by Research Institutions and Universities
1.1.4 Key Patent Mapping
1.2 Business Dynamics
1.2.1 Business Drivers
1.2.1.1 Growing Numbers of Electric Vehicles Worldwide
1.2.1.2 Government Initiatives for Development of Electric Vehicle Charging Infrastructure
1.2.1.3 Need for Energy Self-Sufficiency
1.2.1.4 Advent of Intelligent Transportation Systems
1.2.2 Business Restraints
1.2.2.1 Lack of Standardization of Electric Vehicle (EV) Charging
1.2.2.2 Lack of Government Support in Bidirectional Charging
1.2.2.3 Reduced Battery Durability and Battery Efficiency of Vehicles due to Charging Lifecycles
1.2.2.4 Batteries Overheat Issue in Prolonged Bidirectional Charging
1.2.3 Business Strategies
1.2.4 Corporate Strategies
1.2.5 Business Opportunities
1.2.5.1 Rise in Demand for Solar-Powered Electric Vehicles
1.2.5.2 Growth of Aftermarket Bidirectional Chargers
1.3 Technical Analysis of Bidirectional Electric Vehicle Charger
1.4 The Road to Bidirectional Chargers: Grid Integration Levels
1.5 Impact of COVID-19 on the Industry
2 Regions
3 Markets – Competitive Benchmarking & Company Profiles
3.1 Competitive Benchmarking
3.2 Market Share Snapshot
3.3 Product/Service Matrix
3.4 Company Profiles
- Wallbox Chargers
- Indra Renewable Technologies
- Power Research Electronics
- ABB
- Siemens
- MAGNUM CAP
- The Mobility House
- EVBox
- Elinta Charge
For more information about this report visit https://www.researchandmarkets.com/r/lpsppo
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- European Bidirectional Electric Vehicle Charger Market
