All updated as on -
Power-to-Gas Market is anticipated to reach USD 68.95 Million, growing at a CAGR of 9.12% between 2023 and 2030. In 2020, the market was worth USD 29.97 million.
A device that transforms electrical energy into methane or hydrogen syngas (synthetic gas) is known as power-to-gas. The hydrogen produced by the power-to-gas sector is subsequently used as a chemical or fuel in other industries. The power-to-gas systems use the extra energy that is stored from renewable sources like solar and wind energy for a variety of processes. These systems make use of the stored energy for industrial, heating, and transportation uses. A positive step towards fusing renewable resources with energy sources is being taken by the power-to-gas business.
The market is driving expansion and will soon raise the size of the power-to-gas market to new heights. The increased use of power production technologies that integrate renewable resources is having an impact on the demand for power-to-gas systems. Because of rising populations, rapid urbanisation, increased access to energy, and improved infrastructure, the demand for electricity is increasing at a quicker rate globally. The use of thermal energy, petrol and diesel for power generation results in extremely dangerous carbon emissions. Therefore, in order to reduce carbon footprints, industry participants in the power-to-gas sector are concentrating on integrating the production of electricity from renewable sources. The adoption of techniques that reduce pollution and lessen reliance on the production of power from fossil fuels is the result of a greater awareness of environmental issues.
The worry over rising carbon emissions and the steps taken to reduce them serve as a catalyst for market expansion. The goal of several nations, including Germany, India, the United Arab Emirates, and Saudi Arabia, is to enhance the use of renewable energy sources in order to expand the market. By 2030, the Saudi Arabian government hopes to have generated 60 GW of electricity from renewable sources. The UAE government published Energy Strategy 2050 in 2017, with the goal of increasing renewable energy generation by 50% by 2050. The German government established the goal of 98 GW of solar energy capacity by the year 2030 in the same year. The Indian government set a goal in 2019 to generate 100 GW of solar energy by 2022. All of these cutting-edge advancements will increase the market's potential.
The need for the power-to-gas sector is increased by the use of hydrogen in transportation infrastructure. Fuel cell electric cars are in high demand on the market for transportation due to their lighter weight, higher efficiency than internal combustion engines, and zero emissions. Many attempts are being taken by the governments of many nations to expand the use of hydrogen in the transportation industry. These innovative measures will raise market value to its ideal level within the next few years.
The paper presents an examination of the effects of COVID 19 on the power-to-gas business as well as detailed market insights. It goes into detail about market value and dynamics during the projection period. It offers a detailed view of the market's competitors, its segmentation, and the impact of various geographic areas.
Report Coverage
Global Power-to-Gas research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Power-to-Gas report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Power-to-Gas competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Power-to-Gas market players and analyses their core competencies in each global market sub-segments.
Key Points Covered in the Report
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Power-to-Gas market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Power-to-Gas market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
Thyssenkrupp AG, Siemens, Mcphy Energy S.A., Engie, Exytron Vertrieb GmbH, Man Energy Solutions, Hydrogenics, NEL ASA, ITM Power, Uniper SE, Hitachi Zosen Inova AG, Green Hydrogen Ineratec
Primary Target Market
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Power-to-Gas market based on the below-mentioned segments:
Global Power-to-Gas Market, By Technology
Electrolysis
Methanation
Capacity
Global Power-to-Gas Market, By End User
Commercial
Utilities
Industrial
Global Power-to-Gas market, Regional Analysis
A device that transforms electrical energy into methane or hydrogen syngas (synthetic gas) is known as power-to-gas. The hydrogen produced by the power-to-gas sector is subsequently used as a chemical or fuel in other industries. The power-to-gas systems use the extra energy that is stored from renewable sources like solar and wind energy for a variety of processes. These systems make use of the stored energy for industrial, heating, and transportation uses. A positive step towards fusing renewable resources with energy sources is being taken by the power-to-gas business.
The market is driving expansion and will soon raise the size of the power-to-gas market to new heights. The increased use of power production technologies that integrate renewable resources is having an impact on the demand for power-to-gas systems. Because of rising populations, rapid urbanisation, increased access to energy, and improved infrastructure, the demand for electricity is increasing at a quicker rate globally. The use of thermal energy, petrol and diesel for power generation results in extremely dangerous carbon emissions. Therefore, in order to reduce carbon footprints, industry participants in the power-to-gas sector are concentrating on integrating the production of electricity from renewable sources. The adoption of techniques that reduce pollution and lessen reliance on the production of power from fossil fuels is the result of a greater awareness of environmental issues.
The worry over rising carbon emissions and the steps taken to reduce them serve as a catalyst for market expansion. The goal of several nations, including Germany, India, the United Arab Emirates, and Saudi Arabia, is to enhance the use of renewable energy sources in order to expand the market. By 2030, the Saudi Arabian government hopes to have generated 60 GW of electricity from renewable sources. The UAE government published Energy Strategy 2050 in 2017, with the goal of increasing renewable energy generation by 50% by 2050. The German government established the goal of 98 GW of solar energy capacity by the year 2030 in the same year. The Indian government set a goal in 2019 to generate 100 GW of solar energy by 2022. All of these cutting-edge advancements will increase the market's potential.
The need for the power-to-gas sector is increased by the use of hydrogen in transportation infrastructure. Fuel cell electric cars are in high demand on the market for transportation due to their lighter weight, higher efficiency than internal combustion engines, and zero emissions. Many attempts are being taken by the governments of many nations to expand the use of hydrogen in the transportation industry. These innovative measures will raise market value to its ideal level within the next few years.
The paper presents an examination of the effects of COVID 19 on the power-to-gas business as well as detailed market insights. It goes into detail about market value and dynamics during the projection period. It offers a detailed view of the market's competitors, its segmentation, and the impact of various geographic areas.
Report Coverage
Global Power-to-Gas research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Power-to-Gas report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Power-to-Gas competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Power-to-Gas market players and analyses their core competencies in each global market sub-segments.
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| Study Period | 2017-2030 |
| Base Year | 2022 |
| Forecast Period | 2022-2030 |
| Historical Period | 2017-2021 |
| Unit | Value (USD Billion) |
| Key Companies Profiled | Thyssenkrupp AG, Siemens, Mcphy Energy S.A., Engie, Exytron Vertrieb GmbH, Man Energy Solutions, Hydrogenics, NEL ASA, ITM Power, Uniper SE, Hitachi Zosen Inova AG, Green Hydrogen Ineratec |
| Segments Covered | • By Product |
| Customization Scope | Free report customization (equivalent to up to 3 analyst working days) with purchase. Addition or alteration to country, regional & segment scope |
Key Points Covered in the Report
- Market Revenue of Power-to-Gas Market from 2021 to 2030.
- Market Forecast for Power-to-Gas Market from 2021 to 2030.
- Regional Market Share and Revenue from 2021 to 2030.
- Country Market share within region from 2021 to 2030.
- Key Type and Application Revenue and forecast.
- Company Market Share Analysis, Power-to-Gas competitive scenario, ranking, and detailed company
profiles. - Market driver, restraints, and detailed COVID-19 impact on Power-to-Gas
Market
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Power-to-Gas market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Power-to-Gas market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
Thyssenkrupp AG, Siemens, Mcphy Energy S.A., Engie, Exytron Vertrieb GmbH, Man Energy Solutions, Hydrogenics, NEL ASA, ITM Power, Uniper SE, Hitachi Zosen Inova AG, Green Hydrogen Ineratec
Primary Target Market
- Market Players of Power-to-Gas
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Third-party knowledge providers
- Value-Added Resellers (VARs)
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Power-to-Gas market based on the below-mentioned segments:
Global Power-to-Gas Market, By Technology
Electrolysis
Methanation
Capacity
Global Power-to-Gas Market, By End User
Commercial
Utilities
Industrial
Global Power-to-Gas market, Regional Analysis
- Europe: Germany, Uk, France, Italy, Spain, Russia, Rest of Europe
- The Asia Pacific: China,Japan,India,South Korea,Australia,Rest of Asia Pacific
- South America: Brazil, Argentina, Rest of South America
- Middle East & Africa: UAE, Saudi Arabia, Qatar, South Africa, Rest of Middle East & Africa
About This Research
You will get in-depth and extensive power to gas market market research and competitor analysis for your business to help you develop more profound insights into the power to gas market Market.
Through INFINITIVE Data Expert is a professional Market Research services, I will identify the power to gas market market size, demand & opportunities, growth rate, and target audience with a comprehensive analysis of your competitors.