Global Power To Gas Market Size By Technology (Electrolysis, Methanation), By Capacity (Less than 100 kW, 100-999 kW), By End-User (Commercial, Utilities), By Geographic Scope And Forecast

Power to Gas Market Size And Forecast

Power to Gas Market size was valued at USD 45.94 Million in 2024 and is projected to reach USD 90.76 Million by 2031, growing at a CAGR of 9.8% from 2024 to 2031.

Growth in demand for renewable hydrogen, which has the potential to decarbonize several sectors, is expected to drive market growth. The Global Power to Gas Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.

Global Power to Gas Market Definition

Power-to-gas technology uses the electrolysis process to produce hydrogen gas from renewable or excess electricity that is available. The first step in the process is to produce synthetic hydrogen (H2) from water and renewable energy through electrolysis. This hydrogen can be used directly as the final energy carrier or converted into methane, synthesis gas, electricity, liquid fuels or chemicals during a second stage process. In the second stage of the process, hydrogen reacts with carbon dioxide to form methane.

The Power to gas system is an effective way of integrating renewable sources with energy sources. The goal of this technology is to store energy in the long term by converting it into other easily storable energy carriers, while at the same time reducing the load on the electrical grid by controlling traffic. The converted hydrogen and methane can also be converted back into electricity as they can be used as a backup energy source.

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Global Power to Gas Market Overview

Growth in demand for renewable hydrogen, which has the potential to decarbonize several sectors, is expected to drive market growth. The driving force behind the growth of the market is the reduction in the cost of electrolyzer technology. According to the International Energy Agency, electrolyzers are responsible for 50% and 60% of capital expenditure, and the remaining factors such as power electronics, air conditioning, and equipment components make up the rest of the expenditure, which is a factor. hinders the growth of the Power to Gas Market.

It's getting harder to ignore the need for cleaner air, and that's driving a global push for hydrogen as a fuel that doesn't pollute, especially for clean transportation emissions. And get thisenergy storage is now a must-have in places like California. Think about it – grid balancing and quick responses to energy demands mean we can use a lot more renewable energy. Plus, automakers are jumping on board with fuel cell electric vehicles (FCEVs), and they need super-pure hydrogen to run! Right now, there are global hydrogen refueling infrastructure projects in motion with some seriously ambitious plans. Oh, and with fossil fuel prices all over the place, industries are switching to greener chemical processes, which is really helping the Power to Gas Market take off.

The presence of the latest developments in hydrogen production technology and hydrogen engine technology is expected to have a positive impact on the growth of the market. For example, The Hydrogen Council, a CEO-led initiative of 92 global companies to develop the hydrogen economy, released a report on January 19, 2021, that says low-carbon hydrogen supply is economically and environmentally feasible.

Global Power to Gas Market Segmentation Analysis

The Global Power to Gas Market is Segmented on the basis of Technology, Capacity, End-User, And Geography.

Power to Gas Market, By Technology

• Electrolysis
• Methanation

Based on Technology, the market is bifurcated into Electrolysis and Methanation.

Power to Gas Market, By Capacity

• Less than 100 kW
• 100-999 kW
• 1000 kW and Above

Based on Capacity, the market is bifurcated into Less than 100 kW, 100-999 kW, and 1000 kW and Above.

Power to Gas Market, By End-User

• Commercial
• Utilities
• Industrial

Based on End-User, the market is bifurcated into Commercial, Utilities, and Industrial.

Power to Gas Market, By Geography

• North America
• Europe
• Asia Pacific
• Rest of the world

On the basis of Geography, the Global Power to Gas Market is classified into North America, Europe, Asia Pacific, Latin America, Middle East and Africa.

Key Players

The “Global Power to Gas Market” study report will provide valuable insight with an emphasis on the global market. The major players in the market are Hydrogenics, ITM Power, McPhy Energy, Siemens AG, MAN Energy Solutions, Nel Hydrogen, ThyssenKrupp, Electrochaea, Exytron, and GreenHydrogen.

Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide insight to the financial statements of all the major players, along with product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players globally.

Key Developments

• ThyssenKrupp AG is currently setting up a new facility in Varennes, Québec, Canada, with an aim to generate 11,100 metric tons of green hydrogen per year.
• On January 13, 2021, Linde PLC Company announced that it plans to build the world’s largest electrolyzer plant by the third quarter of 2022. According to the EU member states, the target for complete hydrogen mobility is expected to be completed by 2030. Majority of hydrogen required is anticipated to be supplied by power-to-gas companies.

Ace Matrix Analysis

The Ace Matrix provided in the report would help to understand how the major key players involved in this industry are performing as we provide a ranking for these companies based on various factors such as service features & innovations, scalability, innovation of services, industry coverage, industry reach, and growth roadmap. Based on these factors, we rank the companies into four categories as Active, Cutting Edge, Emerging, and Innovators.

Market Attractiveness

The image of market attractiveness provided would further help to get information about the region that is majorly leading in the Global Power to Gas Market. We cover the major impacting factors that are responsible for driving the industry growth in the given region.

Porter’s Five Forces

The image provided would further help to get information about Porter’s five forces framework providing a blueprint for understanding the behavior of competitors and a player’s strategic positioning in the respective industry. The porter’s five forces model can be used to assess the competitive landscape in Global Power to Gas Market, gauge the attractiveness of a certain sector, and assess investment possibilities.

Report Scope

Research Methodology of Market Research

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Reasons to Purchase this Report

We'll dive into the market with a mix of qualitative and quantitative analysis, breaking it down by segments using both economic and, well, everything else that matters. You'll get market value (in USD Billion) for every single piece of the puzzle. We'll point out the region and segment we think will be the fastest growers and the ones that'll rule the roost. We'll also explore how the product/service is actually being used, region by region, and call out what's influencing the market in each of those areas. Think of it like this

• A snapshot of who's on top
• What new stuff they're launching
• Who's teaming up with who
• Who's buying who

all in the last five years. Plus, we've got detailed company profiles, including an overview, insights, how their products stack up, and a full SWOT analysis for the big players. We'll give you the lay of the land now and what we expect to see down the road, paying attention to what's fueling growth, what's holding things back, and what's happening in both new and established markets. We'll also run the market through Porter's five forces to really understand it. We'll trace the Value Chain to see where the value is truly being created. We'll map out the market's dynamics, spot growth opportunities for the future, and, to top it off, offer 6 months of analyst support after you buy.

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