IMARC Group, a leading market research company, has recently released a 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  share, size, 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?

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?

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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