United States Power-to-Gas Market 2025 | Growth Drivers, Trends & Market Forecast, Competitive Landscape & Investment Opportunities

Market Size and Growth

The global power-to-gas market is Growing at a Higher CAGR during the forecast period (2024-2031).

Recent Mergers and Acquisitions :

United States: Recent M&A Activity in Power-to-Gas

✅ In September 2025, TotalEnergies announced the sale of a 50% stake in its North American solar energy portfolio to investment firm KKR for $950 million. The portfolio comprises six utility-scale solar assets and 41 distributed generation projects, primarily located in the United States. Despite the sale, TotalEnergies will retain a 50% ownership stake in the 1.4-gigawatt portfolio, which has a total enterprise value of $1.25 billion.

✅ In September 2025, Vistra announced plans to construct two new natural gas power units at its Permian Basin plant in West Texas, significantly increasing the facility's capacity from 325 MW to 1,185 MW. This expansion comes in response to surging electricity demand in Texas, driven by increased usage in households, businesses, and energy-intensive industries.

✅ In September 2025, Occidental Petroleum entered negotiations to sell its OxyChem division for approximately $10 billion. The potential sale aims to create one of the largest standalone petrochemicals companies globally, reflecting Occidental's strategy to manage its $24 billion debt and streamline operations.

Japan: Recent M&A Activity in Power-to-Gas

✅ In September 2025, Azerbaijan's state oil company SOCAR signed a deal to acquire Italiana Petroli (IP), one of Italy's largest petrol station networks. The agreement marks a significant step for SOCAR in expanding its footprint in the European energy market, reinforcing Azerbaijan-Italy economic and energy ties.

✅ In September 2025, India's Oil and Natural Gas Corporation (ONGC) announced plans to acquire 2.5 to 3 gigawatts (GW) of renewable energy projects by 2030. The company currently possesses around 2.5 GW of renewable energy capacity and aims to enhance its energy supply by importing 3 million tons of liquefied natural gas (LNG) annually through long-term contracts.

✅ In September 2025, CPS Energy, a major public utility based in San Antonio, completed a $1.3 billion acquisition of four natural gas power plants in Southeast Texas from Missouri-based PROENERGY. The newly acquired facilities, located in Harris, Brazoria, and Galveston counties, are within the Electric Reliability Council of Texas (ERCOT) network and collectively provide about 1,632 megawatts of electric capacity.Mergers and Acquisitions

Key Development:

United States: Recent Industry Developments

✅ In September 2025, the U.S. Energy Information Administration (EIA) reported a record high in natural gas consumption, reaching 91.4 billion cubic feet per day. This surge underscores the nation's increasing reliance on natural gas amid rising electricity demand.

✅ In August 2025, the Intermountain Power Agency announced plans to replace its coal-fired Intermountain Power Plant in Utah with an 840 MW natural gas facility capable of co-firing green hydrogen. This transition is part of efforts to reduce carbon emissions and enhance grid flexibility.

✅ In June 2025, the U.S. Department of Energy awarded a $562 million loan to NRG Energy for the construction of a 721 MW natural gas power plant in Baytown, Texas. This project aims to bolster grid reliability and accommodate growing energy demands.

Japan: Recent Industry Developments

✅ In June 2025, Suntory Holdings announced the launch of the "Yamanashi Model Power-to-Gas (P2G) System," marking a significant step in Japan's hydrogen utilization strategy. This initiative aligns with the nation's commitment to decarbonization and energy innovation.

✅ In February 2025, the Japanese government approved the Seventh Basic Energy Plan, setting a target to increase the share of renewable energy and nuclear power to 70% of total power sources by FY 2040. This plan emphasizes the role of hydrogen in achieving a decarbonized society.

✅ In May 2025, Japan's Ministry of Economy, Trade and Industry (METI) announced a strategic partnership with international firms to develop a large-scale hydrogen supply chain. The initiative aims to import hydrogen produced from renewable sources, supporting Japan's energy transition goals.

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Power-to-Gas (P2G) is a technology that converts surplus electrical energy, often from renewable sources, into gaseous fuels such as hydrogen or synthetic methane through electrolysis and chemical processes. It enables energy storage, grid balancing, decarbonization of gas networks, and sustainable fuel production for industrial, transport, and residential applications.

Key Players:

=> Hydrogenics, ITM Power, McPhy Energy, Siemens, MAN Energy Solutions, Nel Hydrogen, Thyssenkrupp, Electrochaea, Exytron, and GreenHydrogen.

Growth Forecast Projected:

The Global Power-to-Gas Market is anticipated to rise at a considerable rate during the forecast period, between 2024 and 2031. In 2023, the market is growing at a steady rate, and with the rising adoption of strategies by key players, the market is expected to rise over the projected horizon.

Research Process:

Both primary and secondary data sources have been used in the global Power-to-Gas Market research report. During the research process, a wide range of industry-affecting factors are examined, including governmental regulations, market conditions, competitive levels, historical data, market situation, technological advancements, upcoming developments, in related businesses, as well as market volatility, prospects, potential barriers, and challenges.

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Key Segments:

➥ By Technology: Electrolysis, Methanation

➥ By Capacity: Less than 100 kW, 100-999 kW, 1000 kW and Above

➥ By End-User: Commercial, Utilities, Industrial

Regional Analysis for Power-to-Gas Market:

⇥ North America (U.S., Canada, Mexico)

⇥ Europe (U.K., Italy, Germany, Russia, France, Spain, The Netherlands and Rest of Europe)

⇥ Asia-Pacific (India, Japan, China, South Korea, Australia, Indonesia Rest of Asia Pacific)

⇥ South America (Colombia, Brazil, Argentina, Rest of South America)

⇥ Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)

Benefits of the Report:

Chapter 1: Sets the stage by outlining the report's coverage, summarizing key market segments by region, product type, and application. Presents a snapshot of market sizes, growth potential across segments, and anticipated industry evolution both short and long term.

Chapter 2: Highlights pivotal market insights and uncovers the most significant emerging trends driving change within the industry.

Chapter 3: Offers an in-depth look at the competitive landscape among Power-to-Gas producers, including revenue shares, strategic moves, and recent mergers and acquisitions.

Chapter 4: Presents comprehensive profiles of the market's key players, delving into details such as revenue, profit margins, product portfolios, and company milestones.

Chapters 5 & 6: Analyze Power-to-Gas revenue at both regional and country levels, providing quantitative breakdowns of market sizes, growth opportunities, and development prospects worldwide.

Chapter 7: Focuses on different market segments by type, examining their individual sizes and potential, guiding readers toward high-impact, untapped market areas.

Chapter 8: Explores segmentation by application, evaluating industry growth potential in various downstream markets and pinpointing promising sectors for expansion.

Chapter 9: Provides a thorough review of the industry's supply chain mapping out both upstream and downstream activities.

Chapter 10: Concludes with a summary of the report's key findings and highlights the most critical takeaways for industry stakeholders.

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