Market Overview:
The global power-to-gas market is expected to grow from USD 1.02 billion in 2018 to USD 3.06 billion by 2030, at a CAGR of 15.5% from 2018 to 2030. The growth of the power-to-gas market can be attributed to the increasing demand for renewable energy sources and the need for storage solutions for excess renewable energy generation. Based on type, the global power-to-gas market is segmented into less than 100 kW, 100–999 kW, and above 1000 kW segments. The above 1000 kW segment is expected to hold the largest share of the global power-to-gas market in 2018 and is also projected to grow at a higher CAGR during the forecast period.
Product Definition:
Power-to-gas is the process of generating synthetic natural gas from renewable electrical energy. This gas can then be injected into the existing natural gas infrastructure or used to power vehicles. The importance of this technology is that it can help reduce greenhouse gas emissions by providing a way to store excess renewable energy and use it when needed.
Less than 100 kW:
less than 100 kW is the power to gas conversion efficiency range which is used in P2G market. It’s a range between 0% and 100%. The less than 100 kW usage has been growing at a significant rate over the last few years owing to its ability of converting fossil fuels into useful energy forms for use in homes and industries.
100–999kW:
100-999kW is the range of power output for gas turbines. It is used to convert the mechanical energy generated from wind, solar or hydro into electrical energy. The turbine blades capture the wind's speed and convert it into useful power which further converted in to high voltage electricity by generators.
The 100-999kW power rating represents a range of sizes of gas turbines that are used for electricity generation purposes with a capacity between 10 MW.
Application Insights:
The commercial application segment accounted for the largest share of power-to-gas market in 2017 and is projected to witness significant growth over the forecast period. The growing need for energy storage across commercial facilities, such as hospitals, hotels, restaurants and retail outlets has led to an increased focus on clean energy solutions. This trend is expected to drive demand from utilities over the forecast period.
Utilities are majorly focused on reducing their carbon footprint by adopting cleaner sources of electricity generation such as wind and solar PV panels. Power-to-gas technology helps in shifting electricity production from conventional fossil fuel plants towards renewable sources that produce less pollution during production stages.
Regional Analysis:
North America is expected to be the largest regional market over the forecast period owing to technological advancements and increasing penetration of renewable energy in countries, such as Canada and Mexico. The U.S., being a developed nation, has witnessed a high penetration of power-to-gas systems for residential applications. Europe is also expected to witness significant growth over the next eight years due to its adoption of clean energy technologies across several industries including heating & cooling, transportation, power generation, etc.
Asia Pacific region accounted for more than 25% share in 2016 owing to growing awareness regarding environmental protection coupled with supportive government policies aimed at reducing carbon footprint associated with conventional fossil fuel based electricity generation methods used across various industries in China and India.
Growth Factors:
- Increasing demand for renewable energy sources: The power-to-gas market is expected to grow at a significant rate in the coming years, owing to the increasing demand for renewable energy sources across the globe. This is mainly because of the growing concerns over climate change and global warming.
- Government initiatives and subsidies: Governments across the world are promoting the use of renewable energy sources, which is expected to drive growth in the power-to-gas market in future. In addition, various subsidies are also being offered by governments to promote this technology.
- Rising prices of conventional fuels: The prices of traditional fuels such as oil and natural gas are rising rapidly, which is encouraging many consumers to switch over to alternative fuel sources such as renewables or power-to-gas systems.
- Technological advancements: With technological advancements taking place at a rapid pace, new methods for converting electricity into gases such as methane are being developed constantly, thereby propelling growth in this market segment further. 5) Growing awareness about benefits of using renewables: There has been a growing awareness among people about the benefits of using renewables such as solar and wind power systems coupled with storage technologies like power-to-gas systems
Scope Of The Report
Report Attributes
Report Details
Report Title
Power-to-gas Market Research Report
By Type
Less than 100 kW, 100–999kW, Above 1000 kW
By Application
Commercial, Utilities, Industrial, Others
By Companies
Hydrogenics, ITM Power, McPhy Energy, Siemens, MAN Energy Solutions, Nel Hydrogen, ThyssenKrupp, Electrochaea, Exytron, GreenHydrogen
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
249
Number of Tables & Figures
175
Customization Available
Yes, the report can be customized as per your need.
Global Power-to-gas Market Report Segments:
The global Power-to-gas market is segmented on the basis of:
Types
Less than 100 kW, 100–999kW, Above 1000 kW
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Commercial, Utilities, Industrial, Others
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Hydrogenics
- ITM Power
- McPhy Energy
- Siemens
- MAN Energy Solutions
- Nel Hydrogen
- ThyssenKrupp
- Electrochaea
- Exytron
- GreenHydrogen
Highlights of The Power-to-gas Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Less than 100 kW
- 100–999kW
- Above 1000 kW
- By Application:
- Commercial
- Utilities
- Industrial
- Others
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Power-to-gas Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Power-to-gas is a technology that converts energy from a renewable source, such as solar or wind power, into usable gas. This gas can then be used to generate electricity or heat.
Some of the major companies in the power-to-gas market are Hydrogenics, ITM Power, McPhy Energy, Siemens, MAN Energy Solutions, Nel Hydrogen, ThyssenKrupp, Electrochaea, Exytron, GreenHydrogen.
The power-to-gas market is expected to register a CAGR of 15.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Power-to-gas Market Overview 4.1 Introduction 4.1.1 Market Taxonomy 4.1.2 Market Definition 4.1.3 Macro-Economic Factors Impacting the Market Growth 4.2 Power-to-gas Market Dynamics 4.2.1 Market Drivers 4.2.2 Market Restraints 4.2.3 Market Opportunity 4.3 Power-to-gas Market - Supply Chain Analysis 4.3.1 List of Key Suppliers 4.3.2 List of Key Distributors 4.3.3 List of Key Consumers 4.4 Key Forces Shaping the Power-to-gas Market 4.4.1 Bargaining Power of Suppliers 4.4.2 Bargaining Power of Buyers 4.4.3 Threat of Substitution 4.4.4 Threat of New Entrants 4.4.5 Competitive Rivalry 4.5 Global Power-to-gas Market Size & Forecast, 2020-2028 4.5.1 Power-to-gas Market Size and Y-o-Y Growth 4.5.2 Power-to-gas Market Absolute $ Opportunity
Chapter 5 Global Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Market Size Forecast by Type
5.2.1 Less than 100 kW
5.2.2 100–999kW
5.2.3 Above 1000 kW
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Market Size Forecast by Applications
6.2.1 Commercial
6.2.2 Utilities
6.2.3 Industrial
6.2.4 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Power-to-gas Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Power-to-gas Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Analysis and Forecast
9.1 Introduction
9.2 North America Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Market Size Forecast by Type
9.6.1 Less than 100 kW
9.6.2 100–999kW
9.6.3 Above 1000 kW
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Market Size Forecast by Applications
9.10.1 Commercial
9.10.2 Utilities
9.10.3 Industrial
9.10.4 Others
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Analysis and Forecast
10.1 Introduction
10.2 Europe Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Market Size Forecast by Type
10.6.1 Less than 100 kW
10.6.2 100–999kW
10.6.3 Above 1000 kW
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Market Size Forecast by Applications
10.10.1 Commercial
10.10.2 Utilities
10.10.3 Industrial
10.10.4 Others
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Market Size Forecast by Type
11.6.1 Less than 100 kW
11.6.2 100–999kW
11.6.3 Above 1000 kW
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Market Size Forecast by Applications
11.10.1 Commercial
11.10.2 Utilities
11.10.3 Industrial
11.10.4 Others
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Analysis and Forecast
12.1 Introduction
12.2 Latin America Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Market Size Forecast by Type
12.6.1 Less than 100 kW
12.6.2 100–999kW
12.6.3 Above 1000 kW
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Market Size Forecast by Applications
12.10.1 Commercial
12.10.2 Utilities
12.10.3 Industrial
12.10.4 Others
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Market Size Forecast by Type
13.6.1 Less than 100 kW
13.6.2 100–999kW
13.6.3 Above 1000 kW
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Market Size Forecast by Applications
13.10.1 Commercial
13.10.2 Utilities
13.10.3 Industrial
13.10.4 Others
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Power-to-gas Market: Competitive Dashboard
14.2 Global Power-to-gas Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Hydrogenics
14.3.2 ITM Power
14.3.3 McPhy Energy
14.3.4 Siemens
14.3.5 MAN Energy Solutions
14.3.6 Nel Hydrogen
14.3.7 ThyssenKrupp
14.3.8 Electrochaea
14.3.9 Exytron
14.3.10 GreenHydrogen