Power-to-Gas Market Growth Prospects, Key Vendors By 2030


Power-to-Gas Market Growth Prospects, Key Vendors By 2030

 Market Analysis

The global power to gas market size will develop at an 8.48% CAGR in the forecast period (2020- 2027), as per the latest Market Research Future (MRFR) report.

Power to Gas Market Drivers

Use of Hydrogen in Different Industries to Boost Market Growth

The use of methane and hydrogen in different industries and its ability to reconvert the electricity will boost market growth in the forecast period.

Besides, the effective use of renewable energy resources as well as integrated management of power and gas network is also adding to the global power to gas market growth.

Power to Gas Market Opportunities

Rising Preference to Adopt Cleaner Energy Sources to offer Robust Opportunities

The increasing preference of industries in adopting cleaner energy sources for reducing carbon emissions and be energy efficient will offer robust opportunities in the market over the forecast period. The industries moreover have increasingly adopted the solar and wind energy sources for reducing the dependency on fossil fuel-based power generation.

Get Free Sample PDF @ https://www.marketresearchfuture.com/sample_request/8621

Restraints

Lack of Proper Government Interest to Develop Power to Gas Related Technology to Act as Market Restraint

The lack of proper government interest for creating power to gas related technology may act as market restraint over the forecast period.

Challenges

High Initial Cost to act as Market Challenge

The high initial cost of power to gas may act as market challenge over the forecast period.

Market Segmentation

The global power to gas market has been segmented based on capacity, end user, and technology.

By capacity, the power more than 1000 kW segment will lead the market over the forecast period. This is owing to growing commercialization and also implementation of several MW size projects of power to gas technologies coupled with the demand from utilities and industrial end users.

By end user, the utilities segment will dominate the market over the forecast period for the power and gas utilities looking to efficiently produce hydrogen by integrating intermittent renewable power sources and also possess the flexibility of power system operation.

By technology, the electrolysis segment will spearhead the market over the forecast period. This is owing to its dynamic operations and also the ability of effectively integrating electricity from fluctuating renewable energy sources namely wind and solar.

COVID-19 Analysis

The power to gas market was least impacted by the COVID-19 outbreak. The growing need for advanced options to curtail carbon dioxide emissions and worldwide adoption of renewable energy sharing with power mix are contributing to the market growth. At the time of the lockdown, the need for electricity in residential areas was much higher than in industrial and commercial areas. The shape of demand shifted more towards renewables with a power supply mix and the growth of the market improved constantly. The demand however for nuclear power-based, gas-based, and coal-based energy consumption fell off quickly and act as a helping hand for the growth of power to gas market value in the future.

Regional Analysis

Europe to Command Power to Gas Market

Europe will command this market in the forecast period. High demand for hydrogen generation and renewable energy sources, 42 billion being invested for solar dark development in Spain and Germany generating 20% hydrogen by 2030, power to gas technology expected in playing a vital role to stabilize the region’s energy supply and offsetting fluctuating power generation from renewable energy sources, growing need for power to gas technology in Germany, and the growing need for hydrogen from fuel cell transportation, industrial, and chemical are adding to the global power to gas market growth in the region. Besides, the presence of several key players in the region, the increasing adoption of the power to gas system, growing consumption of hydrogen by industries and manufacturers of the fuel cell-based electric vehicles, the increasing government initiatives for promoting renewable energy sources for curbing down the carbon emission levels are adding to the global power to gas market share in the region.

Key Players

Eminent industry players profiled in the global power to gas market industry report include Mcphy Energy S.A., Siemens, Thyssenkrupp AG, Man Energy Solutions, Engie, Exytron Vertrieb GmbH, Hydrogenics, NEL ASA, Green Hydrogen, Ineratec, ITM Power, Uniper SE, and Hitachi Zosen Inova AG.

Browse Complete Report @ https://www.marketresearchfuture.com/reports/power-gas-market-8621

 



Read more: https://www.digitaljournal.com/pr/5-simple-tactics-thatll-boost-power-to-gas-market-by-2030#ixzz7clyGVF1I

Report Attribute

Details

Forecast Period

2022 - 2030

Market Growth value

XX % CAGR

Revenue forecast in 2022-2030

USD XX billion

Base year for estimation

2021

Historical data

2019 – 2020

Unit

USD Billion, CAGR (2021 – 2030)

Segmentation

By Application, By End-Use, and By Region

FAQ’s:

  1. What is “Power to Gas” Market?
  2. Who are the Top Market manufacturers?
  3. Which are the most Business Regions across the globe?
  4. How big is the “Power to Gas” Market in upcoming Years?
  5. What are the Latest developments/industry updates in the “Power to Gas” Market?

Top Related Reports -

https://www.marketresearchfuture.com/reports/abrasive-waterjet-cutting-machine-market-8681

https://www.marketresearchfuture.com/reports/aluminum-die-casting-machine-market-8250

https://www.marketresearchfuture.com/reports/americas-packaged-water-treatment-system-market-2566

https://www.marketresearchfuture.com/reports/boring-tools-market-8258

https://www.marketresearchfuture.com/reports/brake-lathe-machine-market-7968

About Market Research Future:

Market Research Future (MRFR) is a global market research firm that takes great pleasure in its services, providing a detailed and reliable study of diverse industries and consumers worldwide. MRFR's methodology integrates proprietary information with different data sources to provide the client with a comprehensive understanding of the current key trends, upcoming events, and the steps to be taken based on those aspects.

Our rapidly expanding market research company is assisted by a competent team of research analysts who provide useful analytics and data on technological and economic developments. Our deemed analysts make industrial visits and collect valuable information from influential market players. Our main goal is to keep our clients informed of new opportunities and challenges in various markets. We offer step-by-step assistance to our valued clients through strategic and consulting services to reach managerial and actionable decisions.

Contact Us:

Market Research Future®

99 Hudson Street,5Th Floor

New York, New York 10013

United States of America

Phone: +1 628 258 0071(US) +44 2035 002 764(UK)

Email: sales@marketresearchfuture.com

Website:https://www.marketresearchfuture.com

Comments