Power-To-Gas Market Overviews
Power-To-Gas market was valued at US$ 37.30 Mn. in 2023, and it is expected to reach US$ 73.39 Mn. by 2030 with a CAGR of 10.15% during the forecast period (2024-2030)
The term “power-to-gas” describes a technology for producing and storing energy that enables the reserve of megawatts of electricity. This technology capitalizes on the existing power and natural gas grid infrastructure, allowing for the seasonal storage of substantial amounts of energy and the supply of CO2-neutral fuels in the form of renewable gas. The global power-to-gas market report includes a segment analysis based on technology, capacity, end-user, and region
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Power-To-Gas Market Scope and Methodology:
Countries such as the UK, South Korea, and Spain are leading the charge in the power-to-gas market by transitioning toward renewable energy sources and investing in research and development to achieve significant decarbonization. As fossil fuel supplies dwindle and struggle to meet the world’s growing energy demands, it becomes essential to foster technological innovation that enhances the use of renewable resources to fulfill this demand effectively.
Power-To-Gas Market Regional Insights
Based on the Regional Analysis, Europe accounted for the largest market share of 35% in 2020 and the European power-to-gas market is expected to register a CAGR of 11.8% during the 2019-2027. The massive development of renewable electricity production is underway in some European countries like Denmark and Germany and is expected to a larger extent in Europe during the forecast period. High capacities of power production which are from intermittent sources are expected to drive low spot prices of electricity. It also offers an opportunity for the development of flexible electro-intensive processes.
Power-To-GasMarket Segmentation
By technology, the Electrolysis segment is projected to capture the largest share of the power-to-gas market, estimated at 62% by 2027. In 2020, Electrolysis generated revenues of approximately US$ 17.65 billion and is expected to grow at a compound annual growth rate (CAGR) of 12.5% during the forecast period from 2020 to 2027. This growth can be attributed to its flexible operational capabilities and its effectiveness in integrating electricity from variable renewable energy sources such as wind and solar. These advantages are pivotal in driving the expansion of the Electrolysis segment in the global market. In contrast, the Methanation segment was valued at US$ 11 million in 2020 and is expected to grow at a CAGR of 10.05% over the same forecast period.
Power-To-Gas Market Key Players
ThyssenKrupp
Hitachi Zosen Inova Etogas
McPhy Energy
Hydrogenics
ITM Power
Uniper
Siemens
MAN Energy Solutions
Micropyros
Carbotech
Aquahydrex
Power-to-gas Hungary
Socalgas
Fuelcell Energy
Electrochaea
Nel Hydrogen
Exytron
GreenHydrogen
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Key questions answered in the Power-To-Gas Market are:
- What is Power-To-Gas ?
- What was the Power-To-Gas market size in 2023?
- What is the growth rate of the Power-To-Gas Market?
- Which are the factors expected to drive the Power-To-Gas market growth?
- What are the different segments of the Power-To-Gas Market?
- What growth strategies are the players considering to increase their presence in Power-To-Gas ?
- What are the upcoming industry applications and trends for the Power-To-Gas Market?
- What are the recent industry trends that can be implemented to generate additional revenue streams for the Power-To-Gas Market?
- Who are the leading companies and what are their portfolios in Power-To-Gas Market?
- What segments are covered in the Power-To-Gas Market?
- Who are the key players in the Power-To-Gas market?
Key Offerings:
- Past Market Size and Competitive Landscape (2018 to 2022)
- Past Pricing and price curve by region (2018 to 2022)
- Market Size, Share, Size & Forecast by Different Segment | 2024−2030
- Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by Region
- Market Segmentation – A detailed analysis by segment with their sub-segments and Region
- Competitive Landscape – Profiles of selected key players by region from a strategic perspective
- Competitive landscape – Market Leaders, Market Followers, Regional player
- Competitive benchmarking of key players by region
- PESTLE Analysis
- PORTER’s analysis
- Value chain and supply chain analysis
- Legal Aspects of Business by Region
- Lucrative business opportunities with SWOT analysis
- Recommendations
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