Europe Power-to-X market is expected to grow at an impressive rate during the forecast period. The rise in awareness among consumers regarding the adverse effects of conventional sources of energy and their harmful contribution to the environment is leading the way for the need to generate and store renewable sources of energy. The renewable source of energy is eco-friendly energy and is considered a reliable source of energy. The Paris Agreement goals emphasizing the increased share of renewable sources in the future energy generation is expected to fuel the demand for the energy storage systems in the forecast period. Growing demand for energy from the prominent industries for heat, transport, and energy generation purpose requires the transformation of energy from one phase to another usable form is accelerating the demand for the Power-to-X technology. There is high demand for hydrogen and hydrogen-based products in mobility applications and re-electrification in the combined heat and power plants. The growing demand for hydrogen in industries such as in refineries or for steel production is expected to boost the Power-to-X market growth in the next five years.
Europe Power-to-X market can be segmented into application, end user, type, regional distribution, and company. Based on the end user, the market is divided into transportation, agriculture, manufacturing, industry, residential, and others. The transportation segment is expected to account for major market share in the forecast period, 2023-2027 owing to the rise in the demand for eco-friendly vehicles with lower carbon emissions into the environment. The rise in the production and sales of electric vehicles in the region which uses rechargeable batteries is the driving factor for the growth of this segment. Also, heavy duty trucking, long-haul shipping, and intercontinental aviation cannot directly convert the electricity are accelerating the demand for the Power-to-X market in the next five years.
The major players operating in the Europe Power-to-X market include Carbon2Chem, FH2R, HPEM2GAS, Heat Smart Orkney, Jupiter 1000, Power-to-Flex, REFHYNE, Underground Sun Conversion, among others. Major companies are developing advanced technologies to stay competitive in the market. Other competitive strategies include mergers & acquisitions.
Objective of the Study
- To analyze and forecast the
market size of Europe Power-to-X market.
- To classify and forecast Europe
Power-to-X market based on application, end user, type, regional
distribution, and company.
- To identify drivers and
challenges for Europe Power-to-X market.
- To examine competitive
developments such as expansions, new product launches, mergers &
acquisitions, etc., in Europe Power-to-X market.
- To identify and analyze the
profile of leading players operating in the Europe Power-to-X market.
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Market insights research performed both primary as well as exhaustive secondary research for this study. Initially, Market insights research sourced a list of service providers across the globe. Subsequently, Market insights research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, Market insights research could include the service providers which could not be identified due to the limitations of secondary research. Market insights research analyzed the service providers, distribution channels and presence of all major service providers across the globe.
Market insights research calculated the market size of Europe Power-to-X market
Key Target Audience
- Power-to-X service
providers, suppliers, distributors, and other stakeholders.
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The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as service providers and partners, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.
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Attribute
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Details
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Base Year
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2021
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Historic Data
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2017 – 2020
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Estimated Year
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2022
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Forecast Period
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2023 – 2027
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Quantitative Units
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Revenue in USD Million, Volume in Units and CAGR for 2017-2021
and 2022E-2027F
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Report coverage
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Revenue forecast, volume forecast, company share, competitive
landscape, growth factors, and trends
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Segments covered
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Application
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End User
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Type
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Country scope
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Germany; France; Netherlands; Belgium; Denmark; Spain; United
Kingdom; Switzerland; Poland
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Key companies profiled
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Carbon2Chem, FH2R, HPEM2GAS, Heat Smart
Orkney, Jupiter 1000, Power-to-Flex, REFHYNE, Underground Sun Conversion.
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Customization scope
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10% free report customization with purchase. Addition or
alteration to country, & segment scope.
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Pricing and purchase options
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Avail customized purchase options to meet your exact research
needs. Explore purchase
options
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Delivery Format
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PDF and Excel through Email
(We can also provide the editable version of the report in PPT/Word format on
special request)
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