Global Power-to-Gas Market: Focus on Product, Technology, and Region - Analysis and Forecast, 2014-2024
Key Questions Answered in this Report:
- Why should an investor consider venturing into the power-to-gas market, and what are the future growth opportunities?
- For a new company looking to enter into the market, which areas could it focus upon to stay ahead of the competition?
- How do the existing market players function to improve their market positioning?
- How does the supply chain function in the global power-to-gas market?
- Which companies have been actively involved in innovation through patent applications, and which products have witnessed maximum patent applications during the period 2013-2019?
- Which product and technology segments respectively in the power-to-gas market, are estimated to witness the maximum demand during 2014-2024 and how does their growth pattern vary across different regions and countries?
- Which are the key application areas in the power-to-gas market?
- Which regions and countries are leading in terms of power-to-gas plant set ups and which of them are estimated to witness high demand growth in the period 2014-2024?
Global Power-to-Gas Market Forecast
The Global Power-to-Gas Market analyzed by BIS Research is expected to show healthy growth in the coming years. The power-to-gas market is anticipated to have a robust growth on the basis of capacity during the forecast period. The demand for sustainable and energy efficient systems has massively grown. High environmental concerns have resulted in the transformation of various industries and led to innovation of multiple technologies that enable the usage of renewable sources of energy. Power-to-gas plant addresses the ongoing issue of excessive carbon dioxide emission and is able to present an extensive amount of opportunities to revolutionize the working principle of different end-user industries such as transportation and steel industry, among others.
The Global Power-to-Gas Market is currently in its upscaling phase. The concept of power-to-gas has been gaining traction owing to the rising need for deploying utility-scale energy storage solutions. However, even though the technology is theoretically researched and studied on a large scale, practical operation is still upscaling and has not reached the stage of full-fledged commercialization. Most of the power-to-gas plants are being operated on a pilot basis with the help of government funding and subsidies. Currently, the establishment of power-to-gas facility is expensive, however with the materialization of learning curves, the high capital cost is anticipated to decline.
Power-to-gas plays a crucial role in achieving maximum return from the investments made in renewable resources. However, currently, the conversion of procured electrical energy into green gases (such as hydrogen and methane) in order to sell them on the existing natural gas grid is not economical and does not generate much profit.
Scope of the Global Power-to-Gas Market
The Global Power-to-Gas Market provides detailed market information for segmentation on the basis of product, technology, and region. The purpose of this market analysis is to examine the power-to-gas outlook in terms of factors driving the market, trends, technological developments, and competitive benchmarking, among others.
The report further takes into consideration the market dynamics and the competitive landscape along with the detailed financial and product contribution of the key players operating in the market. While highlighting the key driving and restraining forces for this market, the report also provides a detailed study of the industry that is analyzed. The report also analyzes the cost of technologies used in the power-to-gas facility in terms of electrolysis and methanation.
The global power-to-gas market is segregated by region under four major regions, namely North America, Asia-Pacific, Europe, and Rest-of-the-World.
Key Companies in the Global Power-to-Gas Market
The key market players in the global power-to-gas market include Aquahydrex, Inc., Electrochaea GmbH, EXYTRON GmbH, Hitachi Zosen Corporation , Hydrogenics Corporation, ITM Power PLC, MAN Energy Solutions,McPhy Energy S.A., MicroPyros GmbH, Nel ASA, Power-to-Gas Hungary Kft., Siemens AG, Southern California Gas Company, thyssenkrupp AG, and Uniper SE.
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