The global Power to Gas Market will be worth USD 68.3 Million by 2027, according to a current analysis by Emergen Research. The growth of this market can be attributed to the increasing demand for electricity owing to rapid urbanization. Both the transportation and industrial sector has increasingly adopted renewable sources of energy. Moreover, the increasing preferences of the industrial segment towards cleaner sources of energy in order to reduce their dependency on fossil fuel-based power generation and be more energy efficient in the future is expected to drive the demand of the system over the forecast period.
In May 2019, ITM Power introduced a new business division named ITM Motive. The division was introduced to operate a portfolio of stations refueling hydrogen in UK. The ITM Motive will be responsible for managing the energy storage and will operate a network of eight hydrogen refueling stations that will be publicly accessible.
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Key Highlights From The Report
- The electrolysis segment is forecasted to grow with the fastest CAGR of 10.3% over the forecast period and accounted for the largest market share in 2019. The growing consumption of hydrogen in the transportation sector due to its higher efficiency and lower emission levels properties has resulted in the growth of the segment.
- The Industrial segment is expected to register significant growth over the forecast period due to their increasing initiatives of utilizing cleaner sources of energy in order to be energy efficient in the future.
- Europe region accounted for the largest market share of the Power to gas market in 2019 and is expected to be the fastest-growing region over the forecast period. The growth of the region is mainly due to the presence of the key market players like ITM Power, Siemens, McPhy Energy, and many others.
- Key participants include ITM Power, Hydrogenics, Siemens, Nel Hydrogen, McPhy Energy, MAN Energy Solutions, Carbotech, SoCalGas, Uniper, and ThyssenKrupp, among others.
Emergen Research has segmented the global Power to Gas Market on the basis of Technology, End-User, and region:
- Technology Outlook (Revenue, USD Million; 2017-2027)
- Methanation (Power-to- methane)
- Electrolysis (Power-to- Hydrogen)
- End-user Outlook (Revenue, USD Million; 2017-2027)
Comprehensive Regional Analysis Covers the Following Regions:
- North America (U.S., Canada, Mexico)
- Europe (U.K., Italy, Germany, France, Rest of EU)
- AsiaPacific (India, Japan, China, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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Key highlights of the report:
- The latest report performs an in-depth study of the potential opportunities and risks associated with the global Power to Gas market, alongside studying the recent innovations and major events.
- The report underlines the niche segments/regions that exhibit potential growth over the forecast timeframe.
- The report analyzes numerous business expansion strategies adopted by the contending companies in this market.
- A detailed synopsis of the market includes the rapidly changing market dynamics and accurate prediction of the current, historical, and forecast market sizes in terms of volume and value.
Table Of Content:
Chapter 1. Methodology & Sources
1.1. Market Definition
1.2. Research Scope
1.4. Research Sources
1.4.3. Paid Sources
1.5. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2019-2027
Chapter 3. Key Insights
Chapter 4. Power to Gas Market Segmentation & Impact Analysis
4.1. Power to Gas Market Material Segmentation Analysis
4.2. Industrial Outlook
4.2.1. Market indicators analysis
4.2.2. Market drivers analysis
188.8.131.52. Reduction in the cost of solar and wind energy generation
184.108.40.206. Increasing initiatives to reduce the carbon footprint
220.127.116.11. Growing demand of renewable sources of energy
18.104.22.168. Increasing demand of hydrogen in the transportation sector
4.2.3. Market restraints analysis
22.214.171.124. Growing Budget constraints
126.96.36.199. High cost of the Power-Gas systems
188.8.131.52. Loss of Energy and low efficiency
184.108.40.206. Availability of low cost batteries
220.127.116.11. Present challenging economic conditions due to the pandemic
4.3. Technological Insights
4.4. Regulatory Framework
4.5. Porter’s Five Forces Analysis
4.6. Competitive Metric Space Analysis
4.7. Price trend Analysis
4.8. Covid-19 Impact Analysis
Chapter 5. Power to Gas Market By Technology Insights & Trends, Revenue (USD Million), Volume (Kilo Tons)
5.1. Technology Dynamics & Market Share, 2019 & 2027
5.1.1. Methanation (Power-to- methane)
5.1.2. Electrolysis (Power-to- Hydrogen)
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