Global Power-To-Gas Market Study Analysis: Increasing Demand For Lean Energy Is Likely To Boost The Power-To-Gas Market

The global Power-to-gas market is expected to grow from $ billion in 2020 to $ billion in 2028 at a CAGR of 12%. Power to gas, also known as P2G, is a technology that converts electrical power to gas fuel primarily through the electrolysis process. Power to gas systems is deployed as alternatives to wind parks or solar electric generation systems. The excess power that is generated by wind generators or solar arrays is used in the future for load balancing in the energy grid. P2G involves low or high-temperature electrolysis of water to produce hydrogen as a final product injected into the gas grid or directly fuelling applications.

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Global Power-to-gas Drivers And Restrain:
The global energy demand has resulted in the exploration of new sources of energy. The power to gas technology is an alternative source for fuel generation. In addition to this, it also aids in decreasing the environmental emission of gases. This in turn helps to tackle the issue of global warming. Therefore, this factor is expected to propel the growth of the market.

Around half a million villages and towns around the world do not have access to reliable and affordable electricity. Gas power can be deployed into a specific region or nationwide energy system with the additional purpose of stabilizing the grid to mitigate the effects of excess electricity, which is caused by a substantial share of fluctuating sources as well as develop the security of energy supplies. These benefits are thus expected to accelerate the market growth considerably.

The growing demand for clean energy is a major factor driving the growth of the market. For instance, gas grid operators in the European (EU) union plan on building around seventeen renewable power to gas projects by the year 2025, to decrease the level of carbon dioxide and keep their grids in use as the EU moves away from natural gas.
The factors restraining the growth of the global Power to Gas market include low efficiency and high costs.
Covid-19 Scenario:
• Impact on Market Size
• End-User Trend, Preferences, and Budget Impact
• Regulatory Framework/Government Policies
• Key Players Strategy to Tackle Negative Impact
• Opportunity Window

Global Power-to-gas Market Segments:
The global Power-to-gas market is further segmented into technology, capacity, end-user, type, application, and geography.
By Technology: Electrolysis and Methanation
By Capacity: Less than 100 kW, 100–999kW, and 1000 kW & Above
By End-User: Commercial, Utilities, and Industrial
By Type: Wind Power-to-Gas, Solar Power-to-Gas, Biomass, Power-to-Gas, and Other Industrial Processes
By Application: Industrial Use, DG or Central Power Plant, Gas Filling Stations, Home Heating, and Others

Key Region/ Countries Covered
• North America (US, Canada, Mexico)
• Europe (Germany, U.K., France, Italy, Russia, Rest of Europe)
• Asia-Pacific (China, India, Japan, South Korea, Rest of Asia Pacific)
• Rest of the World (Middle East & Africa and South America)

Europe holds a significant share in the global market, due to the increasing demand for power to gas technology in the region. Furthermore, power to gas technology is expected to play a crucial role in stabilizing the energy supply and offsetting fluctuating power generation from sources of renewable energy in the region. The Asia Pacific dominates the market owing to the rise in the number of small and medium scale industries in the region, along with rapid urbanization in emerging economies such as India and China.

Key Players of Global Power-to-gas Market:
• ITM Power
• McPhy Energy S.A.
• ThyssenKrupp AG
• Electrochaea GmbH
• Hydrogenics
• TKI Gas
• AEG Power Solutions
• Solarplaza International BV
• Alliander
• Energinet.DK

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Key Questioned Answered Through The Report:
• The Impact of COVID-19 on the global market
• What are the potential opportunities for new entrants in the global market
• What is the market Size and Forecast from 2020 to 2028?
• Key Players associated with the global Power-to-gas Market
• Value Chain Analysis of Global Power-to-gas Market
• What is the CAGR of the global Power-to-gas Market from 2021 to 2028
• Major Growth Factor, Challenges, Trends, and Opportunities in the global market
• Key outcomes of SWOT Analysis

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