Vehicle-to-Grid Technology Market (By Component Type: Smart Meters, Electric Vehicle Supply Equipment (EVSE), Software, and Home Energy Management (HEM); By Application Type: Battery Electric Vehicles (BEVs), Fuel Cell Vehicles (FCVs), and Plug-in Hybrid Electric Vehicles (PHEVs)) Industry Size, Share, Growth, Trends 2025 to 2034
North America’s vehicle-to-grid technology market is expanding rapidly, growing from USD 1.68 billion in 2024 toward USD 17.52 billion by 2034. Strong EV adoption and grid modernization efforts are driving its robust 26.4% CAGR.
| Reports Attributes | Statistics |
| Market Size in 2024 | USD 1,683Million |
| Market Size in 2025 | USD 2,128 Million |
| Market Size in 2031 | USD 8,677 Million |
| Market Size by 2034 | USD 1,7522 Million |
| CAGR 2025 to 2034 | 26.4% |
| Base Year | 2024 |
| Forecast Period | 2025 to 2034 |
The North American vehicle-to-grid technology market is expanding rapidly due to the growing number of EVs in the region, which is driving demand for storage capacity. V2G technology enables EVs to send power from their batteries to the electric grid, where bidirectional flow helps them function as a decentralized energy system. The rising consumer shift towards sustainable transport is playing a crucial role in the growth of technologies that align with organizational norms. The greater focus on renewable energy projects is also helping companies store and release energy as needed. Public and private sector investments in energy storage are also driving business for vehicle-to-grid technologies.
What are the obstacles in the North America vehicle-to-grid technology market?
Bidirectional charging, grid development, and other upgrades require higher initial investments, which can be challenging for small businesses and residential users due to limited financial resources. Moreover, EV owners are concerned about battery life, which may also pose challenges for companies considering investing in these technologies. North America's vehicle-to-grid technology market also faces challenges due to a lack of standardization, which may slow growth from large-scale companies.
What does the future of V2G technology look like in North America?
The growing technological advancements in smart grid projects are driving higher demand for this technology as a flexible energy option during emergencies. The rising EV shift in commercial fleets is also expected to expand business opportunities in the North American vehicle-to-grid technology market, as they can serve as an economic option in the long run. The companies are investing heavily in smart charging technologies that focus on improving battery lifespan and efficiency, which can be applied across many residential and commercial settings.
The United States is a crucial player in V2G technology due to its higher EV sales volume. The U.S. government is providing incentives and tax credits for EV purchasers, which is helping create more business opportunities. The International Energy Agency (IEA) data shows that in the U.S., electric car sales increased to 1.6 million in 2024, with the sales share rising by more than 10%. The government is also investing in energy infrastructure projects that will integrate renewable and smart grids.
Canada is a crucial player in the North American vehicle-to-grid technology market due to its renewable energy base, which provides a stronger business case for V2G technology. Moreover, the government has also committed to improving EV adoption by providing subsidies for EV buyers. Canadian governments view V2G as a help in balancing the grid, as it provides energy as solar and wind power grow. Ontario and Quebec are exploring the technology through pilot projects, which will increase demand for V2G across the country.
The inclusion of technologies such as artificial intelligence (AI) and Machine Learning (ML) is playing a crucial role in optimizing bidirectional energy flow by analyzing energy demand, grid conditions, and battery health in real time. The North American vehicle-to-grid technology market is accelerating rapidly, with technologies improving storage units by analyzing weather conditions, energy consumption patterns, and energy fluctuations in renewable settings. Additionally, the growth of smart chargers is expected to adjust charging speed and scheduling, helping to avoid barriers throughout the process.
| Segments | Shares (%) |
| Smart Meters | 10% |
| Electric Vehicle Supply Equipment (EVSE) | 52% |
| Software | 17% |
| Home Energy Management (HEM) | 21% |
| Segments | Shares (%) |
| Battery Electric Vehicles (BEVs) | 71% |
| Fuel Cell Vehicles (FCVs) | 13% |
| Plug-in Hybrid Electric Vehicles (PHEVs) | 17% |
Published by Ajit Bansod
