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Global Power-to-gas Market to Grow 10.1% Annually Through 2024 | Leading key players are Hydrogenics, ITM Power, McPhy Energy, Siemens, MAN Energy Solutions

02-18-2020 10:41 AM CET | Energy & Environment

Press release from: MarketsandMarkets

Global Power-to-gas Market to Grow 10.1% Annually Through 2024 |

According to the new market research report "Power-to-gas Market by technology (Electrolysis and Methanation), Capacity (Less than 100 kW, 100-999kW, 1000 kW and Above), End-User (Commercial, Utilities, and Industrial), and Region (North America, Europe, Asia Pacific) - Global Forecast to 2024" The global power-to-gas market is projected to reach USD 42 million by 2024 from an estimated USD 26 million in 2019, at a CAGR of 10.1% during the forecast period.

https://www.marketsandmarkets.com/Market-Reports/power-to-gas-market-200568452.html

Effective utilization of renewable energy resources and integrated management of power and gas network are driving the growth of the global industry.

Browse 117 market data Tables and 38 Figures spread through 174 Pages and in-depth TOC on "Power-to-gas Market - Global Forecast to 2024"

Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=200568452

Electrolysis segment is expected to lead the power-to-gas market by technology

Highly effective ways of generating hydrogen and its ability to incorporate excess renewable energy for the production of hydrogen effectively are the factors, for which electrolysis segment is expected to lead and grow at the fastest rate within all the segments.

1000 kW and Above segment is expected to capture the major share of the power-to-gas market by capacity

1000 kW and Above segment, by capacity, is expected to grow faster than others. This is mainly because of key projects that focus on the generation of large scale hydrogen using power-to-gas in industries. In addition to this, there is also substantial investment and development of power-to-gas technology in this capacity range.

The utilities segment is expected to capture the major share of the power-to-gas market by end-user

With the growing demand for hydrogen consumption and blending with the gas network to reduce natural gas consumption, the utilities segment is expected to grow. This is evident from the developments that have been executed from 2016 to 2018. Furthermore, there is also a need to effectively integrate excess renewable energy electricity into green hydrogen for various purposes.

Europe is expected to dominate the global power-to-gas market

The Europe power-to-gas market is expected to dominate by growing power-to-gas projects in countries such as Germany, France, Denmark, and the Netherlands for effective utilization of renewable energy sources, predominantly wind energy. Furthermore, the utilities and commercial sector are also driving the demand for the power-to-gas technology to meet the carbon emission norms from their operations effectively.

Ask for sample copy @ https://www.marketsandmarkets.com/requestsampleNew.asp?id=200568452

To enable an in-depth understanding of the competitive landscape, the report includes profiles of some of the leading players, such as Hydrogenics (Canada), ITM Power (UK), McPhy Energy (France), Siemens (Germany),MAN Energy Solutions (Germany), Nel Hydrogen (Norway), ThyssenKrupp (Germany), Electrochaea (Germany), Exytron (Germany), and GreenHydrogen (Denmark) along with other prominent providers of power-to-gas technology.

Contact:
Mr. Sanjay Gupta
MarketsandMarkets(TM) INC.
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Suite 430
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USA : 1-888-600-6441
Email: sales@marketsandmarkets.com

About MarketsandMarkets(TM):

MarketsandMarkets(TM) provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets(TM) for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets(TM) are tracking global high growth markets following the "Growth Engagement Model - GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets(TM) now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets(TM) is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

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