According to a new report, titled, “Power-to-gas Market Insights, Trends, Opportunity & Forecast, 2022–2027,” Power-to-gas market size is anticipated to at a witness single digit growth during forecast period i.e. 2022-2027.

the Power –to gas (often abbreviated P2G) method. In this system, electrical energy is converted into hydrogen or methane syngas via respective procedures such as electrolysis or methanation, as per requirement and the gas produced in made available to be used in various industrial processes. Also, power –to gas system is used to store excess energy from renewable energy sources for later use for various purposes including industrial, heat supply, transportation, water production etc. Though, global power-to-gas market is at its early stages of development, it is anticipated to reach around $42 million by 2024 from an estimated $26 million in 2019 at a CAGR of close to 10%.

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The global Power-to-gas market is predicted to develop due to the use of Power-to-gas in paints, plating chemicals, and catalysts. Furthermore, alloys, catalysts, pigments, magnets, and soaps all need cobalt carbonate. It’s utilized as a dietary supplement because it’s a necessary component for good health. Power-to-gas is also frequently utilized as a cathode material in batteries, cars, and electronic gadgets. Due to the alloy’s excellent heat resistant qualities, it’s also employed in the repair of alloys used in jet engines.

COVID-19’s Effects

Over the last 18 months, almost every industry on the planet has suffered a setback. This is due to major disruptions in their manufacturing and supply-chain operations as a result of numerous precautionary lockdowns and other restrictions imposed by governments around the world. The global Power-to-gas market is no exception. Furthermore, consumer demand has decreased as people have been more focused on removing non-essential expenses from their budgets as the general economic situation of most people has been badly impacted by the outbreak. The revenue trajectory of the worldwide Power-to-gas market is likely to be hampered by the aforementioned factors throughout the forecast period. The global Power-to-gas market, on the other hand, is predicted to rebound as separate regulatory bodies begin to relax these imposed restrictions.

The report investigates North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa in terms of geography. With growing demand in emerging economies such as India and China, the Asia-Pacific region has the greatest proportion of the Power-to-gas market. Due to its rising applications in the vehicle sector, Europe is a close second. In the foreseeable future, North American and Latin American markets are expected to see significant expansion.

Global Power-to-gas market analysed across different geographies i.e. North America (U.S. & Canada), Europe (Germany, United Kingdom, Italy, Spain, Russia, France and Rest of Europe), Asia Pacific (China, India, Japan, Indonesia, Taiwan, South Korea, Australia, New Zealand), Latin America (Brazil, Mexico, Argentina) & Middle East & Africa (GCC, North Africa, South Africa and Rest of Middle East & Africa).

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Market Segmentation

By Technology:

  • Electrolysis (Hydrogen Gas)
  • Methanation (Methane Gas)

 By Application:

  • Industrial Use
  • DG or Central Power Plant
  • Gas Filling Stations
  • Home Heating
  • Others

By Type:

  • Wind Power-to-Gas
  • Solar Power-to-Gas
  • Biomass Power-to-Gas
  • Other Industrial Processes

By Capacity:

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

By End-User:

  • Utilities
  • Industrial
  • Commercial

Companies Profiled in Report

Some of the key players major Power-to-gas market companies profiled in the report include:

  • Mcphy Energy S.A
  • Siemens
  • Thyssenkrupp AG
  • Man Energy Solutions
  • Engie,
  • Exytron Vertrieb GmbH
  • Hydrogenics
  • Green Hydrogen Ineratec
  • ITM Power
  • Uniper SE
  • Hitachi Zosen Inova AG.
  • Other Players

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