Belgium Vehicle To Grid Market By Charging Type (Unidirectional Charging, Bidirectional Charging), By Component (EVSE, Smart Meters, Home Energy Management (HEM) Systems, Others), By Vehicle Type (Battery Electric Vehicle (BEV), Hybrid Electric Vehicle (H

Belgium Vehicle To Grid Market By Charging Type (Unidirectional Charging, Bidirectional Charging), By Component (EVSE, Smart Meters, Home Energy Management (HEM) Systems, Others), By Vehicle Type (Battery Electric Vehicle (BEV), Hybrid Electric Vehicle (HEV), Plug-In Hybrid Electric Vehicle (PHEV)), By Application (Peak Power Sales, Spinning Reserves, Base Load Power and Others), By Region, Competition, Forecast & Opportunities, 2027

Belgium vehicle to grid market is projected to grow at a formidable rate during the forecast period, 2023-2027. The market growth can be attributed to the high penetration of smart power generation systems across various end-user sectors. Besides, rising demand for electric vehicles and rapid technological advancements are contributing to the market growth.

Despite low demand for EVs in Belgium compared to other nations such as the Netherlands and Germany, rising awareness among consumers and persistent efforts by EV manufacturers to promote the adoption of EVs are expected to further support the growth of the Belgium vehicle to grid market in the future.

Technology known as vehicle to grid allows electric vehicles to send any unused electricity to the grid. Future plans to use car to grid technology to power homes as well as the use of electric vehicles to store energy and use that energy to power other systems such as mobile phones, laptops, and similar gadgets are potential applications of the system. The technology allows for energy provision during peak times. When the renewable energy sources that depend on the weather are unable to meet the demand for electricity, this system has the ability to produce an additional source of power.

High investments by market players to increase the sales of electric passenger car and commercial vehicles and expanding the electric vehicle charging infrastructure are also fueling the growth of the Belgium vehicle to grid market. Enhanced support by government authorities and more foreign direct investments are likely to positively impact the Belgium vehicle to grid market growth.

The development of the market would also be aided by coordination between electric car manufacturers and those that operate charging stations and points. In the next five years, the expansion of the Belgium vehicle to grid market will be facilitated by increasing potential customers' awareness of the financial ramifications, the existing and planned charging infrastructure, the various types of charge points, and the offered driving range.

The Belgium vehicle to grid market segmentation is based on the 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. The bidirectional charging segment is expected to register the fastest growth in the market during the forecast period, owing to their rising adoption for recharging the vehicle battery and utilize the stored energy during peak hours.

Major players operating in the Belgium vehicle to grid market are Elia Group, Jedlix BV, FUERGY Industries j.s.a., NUVVE Corp., ABB Group., YUSO BV, among others.

Years considered for this report:

Historical Years: 2017-2020

Base Year: 2021

Estimated Year: 2022

Forecast Period: 2023–2027

Objective of the Study:

• To analyze the historical growth in the market size of the Belgium vehicle to grid market from 2017 to 2021.
• To estimate and forecast the market size of Belgium vehicle to grid market from 2022 to 2027, and growth rate until 2027.
• To classify and forecast the Belgium vehicle to grid market based on charging type, component, vehicle type, application, region, and company.
• To identify the dominant region or segment in the Belgium vehicle to grid market.
• To identify drivers and challenges for the Belgium vehicle to grid market.
• To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in the Belgium vehicle to grid market.
• To identify and analyze the profiles of leading players operating in the Belgium vehicle to grid market.
• To identify key sustainable strategies adopted by market players in Belgium vehicle to grid market.

TechSci Research performed both primary as well as exhaustive secondary research for this study. Initially, TechSci Research sourced a list of manufacturers across the country. Subsequently, TechSci Research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, TechSci Research could include the manufacturers who could not be identified due to the limitations of secondary research. TechSci Research analyzed the manufacturers, distribution channels and presence of all major players across the country.

TechSci Research calculated the market size of the Belgium vehicle to grid market using a top-down approach, wherein data for various end-user segments was recorded and forecast for the future years. TechSci Research sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these products and applications for getting an appropriate, overall market size. Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied by TechSci Research.

Key Target Audience:

• Market research and consulting firms
• Government bodies such as regulating authorities and policy makers
• Organizations, forums, and alliances

The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as product manufacturers, suppliers and partners, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.

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:
• Flemish
• Wallonia
• Brussels

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in Belgium vehicle to grid market.

Company Information

• Detailed analysis and profiling of additional market players (up to five).

Please Note: Report will be updated with the latest data and delivered to you within 3-5 working days of order. Single User license will be delivered in PDF format without printing rights