Asia-Pacific Bidirectional Electric Vehicle Charger Market Set to Reach $699 Million by 2031 – BIS Research

Market Overview 

Market Size and Growth Rate 

The market for bidirectional EV chargers in Asia-Pacific, valued at $83.7 million in 2022 to $699.0 million by 2031, at a CAGR of 26.60%. The growth reflects strong demand for energy-efficient infrastructure to support the region’s EV expansion. 

Trends and Innovations 

Innovative bidirectional chargers that enable energy flow between EVs and grids are driving market growth. Additionally, technological advancements like V2G (Vehicle-to-Grid) integration offer enhanced energy storage and grid stabilization solutions, meeting the needs of renewable energy integration. 

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Key Highlights 

Report USP 

This report delivers exclusive insights into technology trends, competitive benchmarking, and regional analyses, essential for stakeholders in the EV infrastructure industry. 

Detailed Analysis 

BIS Research provides an extensive examination of bidirectional EV charging technology, highlighting its role in stabilizing energy grids and supporting renewable energy objectives across Asia-Pacific. 

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Demand Drivers, Challenges, and Opportunities 

Demand Drivers 

Governments are rolling out incentives to boost electric vehicle (EV) adoption, which, in turn, drives the demand for bidirectional chargers. As EV sales soar, Asia-Pacific countries are ramping up investments in EV infrastructure to support sustainable growth and enhance energy-efficient grids. 

Challenges 

While the demand is strong, high costs of bidirectional chargers and the necessary infrastructure upgrades remain hurdles for widespread market adoption. There are also concerns around battery life, and navigating complex regulatory requirements adds another layer of complexity. 

Opportunities 

The push toward Vehicle-to-Grid (V2G) technology and a growing focus on renewable energy integration bring exciting opportunities. Developing smart charging solutions that connect smoothly with renewable grids could give companies a real edge in the Asia-Pacific market. 

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Market Segmentation: 

Segmentation 1: Application based segmentation 

•    Vehicle-to-Grid (V2G) 

•    Vehicle-to-Home (V2H) 

•    Others (Vehicle-to-Vehicle and Vehicle-to-Load) 

Segmentation 2: Source based segmentation 

•    OEM 

•    Aftermarket 

Segmentation 3: Propulsion Type based segmentation 

•    Battery Electric Vehicle (BEV) 

•    Plug-in Hybrid Electric Vehicle (PHEV) 

Segmentation 4: Deployment of Charger based segmentation 

•    Domestic 

•    Commercial 

Segmentation 5: Charging Type based segmentation 

•    <20 kWh 

•    20-40 kWh 

•    40-100 kWh 

•    >100 kWh 

Segmentation 6: Country based segmentation 

•     Japan  

•     India  

•     South Korea  

•     Rest-of-Asia-Pacific and Japan 

Competitive Landscape 

Key Players 

•     Delta Electronics, Inc. 

•     Hyundai Mobis Co. Ltd. 

•     Denso Corporation 

•     Hitachi Automotive Systems, Ltd. 

•     Toyota Industries Corporation 

Strategic Initiatives 

Leading companies are investing in partnerships and R&D to expand their technology portfolios, focusing on the scalability and efficiency of bidirectional chargers. 

Case Studies and Success Stories 

An example includes Mitsubishi Electric's deployment of V2G chargers in Japan, which has contributed to grid stability and energy cost reductions for consumers. 

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About BIS Research 

BIS Research is a global B2B market intelligence and advisory firm focusing on deep technology and related emerging trends, which can disrupt the market dynamics in the near future. We publish over 200 market intelligence studies annually, focusing on several deep technology verticals.   

Our strategic market analysis emphasizes market estimations, technology analysis, emerging high-growth applications, deeply segmented granular country-level market data, and other important market parameters useful in the strategic decision-making for senior management.    

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