Belgium vehicle to grid
market is anticipated to register growth with an impressive CAGR in the
forecast period, 2023-2027, on the account of higher prevalence of smart power
generation systems for the generation of power for multiple uses. Increasing
demand for the electric vehicles and increasing technological advancements are
further driving the growth of the Belgium vehicle to grid market in the
upcoming five years. Although growth of the electric vehicle demands in the
country as compared to the countries like Netherlands, Germany is considerably
low, steady growth in rising awareness and consistent efforts of the electric
vehicle manufacturers in increasing detailed information about clear process to
install a charging station after purchasing an EV and related fuel costs, etc.
may further substantiate the growth of the Belgium vehicle to grid market in
the future.
Vehicle to grid technology is
the system of drawing unused power from the electric vehicle to the grid. Utilization
of electric vehicles to store energy and utilize the energy to power other
systems like mobile phones, laptops, alike electronics along with futuristic
plans to power homes using vehicle to grid technology are potentials of the
system. Through the technology, energy supply can be done in peak hours. This
system also has potential to be create an extra power source when the weather
dependent renewable energy sources fail to fulfill the energy demands.
Surging Demand for EVs
Promise Market Growth
Demands for the electric
passenger cars, and electric commercial vehicles are rapidly increasing in the
country, owing to the surging demand for fuel efficient options for vehicle
ownership, that is further driving the growth of the Belgium vehicle to grid
market in the upcoming five years. Higher sales of electric vehicles would
require increasing investments and construction of charging infrastructure and
vehicle to grid infrastructure thereby aiding the growth of the market in the
next five years.
According to Fédération Belge
de l'Automobile & du Cycle (FEBIAC), combined sales of battery electric
vehicle (BEV) and plug-in hybrid electric vehicle (PHEV) had increased by 25%
in the year 2021.
Higher investments through government authorities and foreign direct investment
would affect the demand of the EV supporting infrastructure including charging
centers, thereby substantiating the growth of the Belgium vehicle to grid
market in the future five years.
Hybrid Car Sales Support
Market Growth
Increasing sales of hybrid
cars are also majorly responsible for the growth of the market. Customer
challenges include unclear taxes and subsidies for different types of fuel thus
the population tends to buy hybrid cars instead of fully electric cars. With
higher investments and government initiatives toward charging infrastructure,
and more clear fuel charges and tax incentives toward buying the hybrid and
electric cars, would drive the growth of the Belgium vehicle to grid market in
the future five years.
Electric vehicle manufacturer
in collaboration with the charging point & station operators would also
benefit the growth of the market. By raising awareness among the potential
consumers regarding the financial implications, the existing and planned charging
infrastructure, the various types of charging points and the offered driving
range would also facilitate the growth of the Belgium vehicle to grid market in
the next five years.
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Market Segmentation
The
Belgium vehicle to grid market is segmented by charging type, component,
vehicle type, application, competitional landscape, and regional distribution. Based on charging type, the
market is differentiated between unidirectional charging and bidirectional
charging. By component, the market is further bifurcated into EVSE, smart
meters, home energy management (HEM) systems, and others. Vehicle type, market
segment is further fragmented into battery electric vehicle (BEV), hybrid
electric vehicle (HEV), plug-in hybrid electric vehicle (PHEV). Based on
application, the market is further segmented into peak power sales, spinning
reserves, base load power and others. The market analysis also studies the
regional segmentation to devise regional market segmentation, divided among Flemish
region, Wallonia region, and Brussels region.
Company Profile
Elia Group, Jedlix BV, FUERGY
Industries j.s.a., NUVVE Corp., ABB Group., YUSO BV, among others is a partial list of
major market players of the companies responsible for the growth of Belgium vehicle
to grid market.
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Attribute
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Details
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Base Year
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2021
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Historical Data
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2017 – 2020
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Estimated Year
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2022
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Forecast Period
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2023 – 2027
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Quantitative Units
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Revenue in USD Million, and CAGR for 2017-2021 and 2022-2027
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Report coverage
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Revenue forecast, company share, competitive landscape, growth
factors, and trends
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Segments covered
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·
Charging Type
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Component
·
Vehicle Type
·
Application
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Regional scope
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Flemish Region, Wallonia Region, and Brussels Region.
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Key companies profiled
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Elia Group, Jedlix BV, FUERGY Industries
j.s.a., NUVVE Corp., ABB Group., YUSO BV
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Customization scope
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10% free report customization with purchase. Addition or
alteration to country, regional & segment scope.
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Pricing and purchase options
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Avail customized purchase options to meet your exact research
needs. Explore purchase options
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Delivery Format
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PDF and Excel through Email
(We can also provide the editable version of the report in PPT/Word format on
special request)
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Report Scope:
In this report, Belgium vehicle to grid market has been segmented into
following categories, in addition to the industry trends which have also been
detailed below:
- Belgium Vehicle To Grid Market, By Charging
Type:
- Unidirectional Charging
- Bidirectional Charging
- Belgium Vehicle To Grid Market, By Component:
- EVSE
- Smart Meters
- Home Energy Management (HEM)
Systems
- Others
- Belgium Vehicle To Grid Market, By Vehicle
Type:
- Battery Electric Vehicle (BEV)
- Hybrid Electric Vehicle (HEV)
- Plug-In Hybrid Electric Vehicle
(PHEV)
- Belgium Vehicle To Grid Market, By Application:
- Peak Power Sales
- Spinning Reserves
- Base Load Power and Others
- Belgium Vehicle To Grid Market, By
Region:
o Flemish
o Wallonia
o Brussels
Competitive Landscape
Company
Profiles: Detailed
analysis of the major companies present in Belgium vehicle to grid market.
Available Customizations:
With the given market data, TechSci
Research offers customizations according to a company’s specific needs. The
following customization options are available for the report:
Company Information
- Detailed analysis and profiling of additional market players (up to
five).
Belgium Vehicle To Grid Market is an upcoming report to be released
soon. If you wish an early delivery of this report or want to confirm the date
of release, please contact us at [email protected]