V2G Hits $11.89B as North America Leads the Charge

The global V2G market is projected to reach $54.41B by 2035, with North America growing faster than any other region

14 May 2026

The global vehicle-to-grid market, valued at $11.89bn this year, is forecast to more than quadruple to $54.41bn by 2035, according to figures published by Precedence Research in April. The projection implies an annual growth rate of nearly 21 per cent, one of the sharpest upward revisions the sector has seen.

Europe remains the largest regional market, commanding roughly 36 per cent of global share, supported by mature grid infrastructure and high electric vehicle adoption. But it is the United States that is growing fastest. The US market, estimated at $2.45bn in 2026, is expected to expand at 33.8 per cent annually through 2034, driven by state-level incentives, utility pilot programmes transitioning to commercial operation, and carmakers embedding bidirectional charging into production vehicles.

Ford and General Motors have built two-way power capability into core platforms. Fleet buyers are increasingly treating V2G-ready hardware as a baseline specification rather than an upgrade, a shift that reflects how the economics of grid-connected vehicles are being reassessed across the transport and energy industries.

Battery electric vehicles account for nearly 64 per cent of V2G application demand, while charging hardware represents more than 83 per cent of component revenue. Artificial intelligence-based dispatch systems have reduced the operational burden that hampered early pilot schemes, allowing fleet operators and utilities to generate grid services income with less manual oversight.

Barriers remain. Interconnection standards differ across regional grid operators, complicating programme design for utilities that span multiple territories. The effect of repeated bidirectional cycling on battery life is still disputed among fleet financing teams, who must weigh degradation risk against revenue projections. The absence of a unified federal compensation framework forces operators to negotiate tariff structures state by state, a constraint that slows deployment at scale.

Nonetheless, applications are broadening, from school bus fleets providing peak-hour power to residential systems and utility-scale virtual power plants. The pace of North American expansion suggests that for US energy planners, grid-connected vehicles have moved from theoretical proposition to operational infrastructure.