Power-to-gas Market 2023 | Scope, Size, Share, Trends, Growth, Report 2028

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IMARC Group, a leading market research company, has recently releases report titled “Power-to-gas Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global power-to-gas market size, share, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

 

Report Highlights

 

How big is the power-to-gas market?

Report Attributes Details
Market Size in 2022 US$ 35.04 Million
Market Forecast in 2028 US$ 68.13 Million
Growth rate (2023 to 2028) CAGR of 11.20%
Base Year of the Analysis 2022
Forecast Period 2023-2028

 

What is power-to-gas?

 

Power-to-gas (P2G) is a process that transforms electrical energy into chemical energy by producing gas. It relies on an electrolysis process to create hydrogen gas that can be utilized as an energy carrier or converted to liquid fuels, synthesis gas, electricity, methane, or chemicals in a second stage. It also helps convert renewable energy into natural gas and store it in existing infrastructure. In addition, it enables the long-term storage of energy by converting it into other easily storable energy carriers while reducing the burden on the electricity grid through controlled operations. Consequently, power-to-gas technology is widely adopted in the commercial, utility, and residential sectors.

 

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What are the growth prospects and trends in the power-to-gas?

 

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The market is mainly driven by the growing awareness regarding greenhouse gas (GHG) emissions. In addition, the escalating demand for renewable hydrogen energy sources minimizes carbon emissions, and the extensive use of fuel-cell electric vehicles (FCEVs) requiring high-purity hydrogen fuel is contributing to the market growth. Moreover, the widespread adoption of green hydrogen generated by electrolyzers, which can be used as a fuel in railways, light vehicles, and marine applications to reduce greenhouse gas (GHG) emissions or as feedstock for industrial applications, represents another major growth-inducing factor. Besides this, several technological advancements in hydrogen production and hydrogen engine technology are providing attractive growth opportunities for industry investors. Furthermore, the emergence of viable water electrolysis technologies such as proton exchange membrane (PEM) electrolysis and alkaline water electrolysis (AWE) is creating a positive market outlook across the globe.

What is included in market segmentation?

The report has segmented the market into the following categories:

Technology Insights:

  • Electrolysis
  • Methanation

Capacity Insights:

  • Less Than 100 kW
  • 100–999 kW
  • 1000 kW and Above

Use Case Insights:

  • Wind
  • Solar
  • Biomass

Application Insights:

  • Residential
  • Commercial
  • Utility

Breakup by Geography:

  • North America (United States, Canada)
  • Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
  • Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
  • Latin America (Brazil, Mexico, Others)
  • Middle East and Africa

Who are the key players operating in the industry?

The report covers the major market players including:

  • Electrochaea GmbH
  • Exytron GmbH
  • Hitachi Zosen Inova AG (Hitachi Zosen Corporation)
  • Ineratec GmbH
  • ITM Power plc
  • McPhy Energy SAS
  • MicroPyros BioEnerTec GmbH
  • Nel ASA
  • Power-to-Gas Hungary Kft
  • Uniper SE

 

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If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.

 

About Us

 

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

 

IMARC Group’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

 

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