Power-to-gas Market Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

 

The latest report by IMARC Group, titled “Power-to-gas Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028“. offers a comprehensive analysis of the industry, which comprises insights on the global power-to-gas market growth. The global power-to-gas market size reached US$ 35.04 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 68.13 Million by 2028, exhibiting a growth rate (CAGR) of 11.20% during 2023-2028.

Power-to-gas Market


Power-to-gas (P2G) is a process that involves converting electrical energy into chemical energy through gas production. It depends on the electrolysis process to produce hydrogen gas, which can be employed as a final energy carrier or converted into synthesis gas, electricity, methane, liquid fuels, or chemicals in the second stage. It helps convert renewable energy into natural gas and store it in the existing infrastructure. In addition, it allows for the long-term storage of energy by converting it into other easily storable energy carriers while lowering the load on the electricity grid through controlled operations. As a result, power to gas is widely employed in commercial, utility, and residential sectors across the globe.

Request Your Sample Report Now: https://www.imarcgroup.com/power-to-gas-market/requestsample

Power-to-gas Market Trends and Drivers:

The market is primarily driven by the rising demand for renewable hydrogen energy sources to reduce carbon emissions. In addition, rapid urbanization, the growing population, and the increasing use of fuel-cell electric vehicles (FCEVs) requiring high-purity hydrogen fuel are contributing to the market growth. In line with this, the escalating demand for hydrogen as a clean fuel in railways, light vehicles, and marine applications to lower greenhouse gas (GHG) emissions is accelerating the product adoption rate. Moreover, the technological advancements in hydrogen production and hydrogen engine technology along with the increasing demand for P2G technology to transport green hydrogen using existing gas transmission infrastructure represents another major growth-inducing factor. Besides this, the increasing application of P2G technology, as it offers higher power storage capacity and longer discharge times and enables the transformation of surplus power from wind farms are creating a positive market outlook.

Report Segmentation:

The report has segmented the market into the following categories:

Technology Insights:

  • Electrolysis
  • Methanation

Capacity Insights:

  • Less Than 100 kW
  • 100–999 kW
  • 1000 kW and Above

Use Case Insights:

  • Wind
  • Solar
  • Biomass

Application Insights:

  • Residential
  • Commercial
  • Utility

Market Breakup by Region:

  • North America (United States, Canada)
  • Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
  • Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
  • Latin America (Brazil, Mexico, Others)
  • Middle East and Africa

Competitive Landscape with Key Player:

  • Electrochaea GmbH
  • Exytron GmbH
  • Hitachi Zosen Inova AG (Hitachi Zosen Corporation)
  • Ineratec GmbH
  • ITM Power plc
  • McPhy Energy SAS
  • MicroPyros BioEnerTec GmbH
  • Nel ASA, Power-to-Gas Hungary Kft
  • Uniper SE

Ask Analyst for Sample Report: https://www.imarcgroup.com/request?type=report&id=7139&flag=C

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

About Us

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

Contact Us

IMARC Group

Email: sales@imarcgroup.com

USA: +1-631-791-1145 | Asia: +91-120-433-0800

Address: 134 N 4th St. Brooklyn, NY 11249, USA

Follow us on Twitter: @imarcglobal

 

Comments

Post a Comment

Popular posts from this blog

Vietnam Hospitals Market Growth, Outlook, Scope, Trends and Opportunity 2024-2032

Image
 IMARC Group's report titled " Vietnam Hospitals Market Report by Ownership (Public, Private), Type (General, Multispecialty, Specialty), Type of Service (In-Patient Services, Out-Patient Services), Bed Capacity (Above 500 Beds, 100-500 Beds, Up to 100 Beds), and Region 2024-2032 ". offers a comprehensive analysis of the industry, which comprises insights on the Vietnam hospitals market growth . The market is projected to exhibit a growth rate (CAGR) of 5.85% during 2024-2032. For an in-depth analysis, you can refer sample copy of the report: https://www.imarcgroup.com/vietnam-hospitals-market/requestsample Factors Affecting the Growth of the Vietnam Hospitals Industry: Growing Population and Aging Demographics: The rising geriatric population combined with the increasing prevalence of chronic diseases represents one of the key factors impelling the market growth in Vietnam. The aging population that is more susceptible to age-related health issues, such as cardiovascular...
Read more

Personal Mobility Devices Market Growth, share, Size, Opportunity and Forecast 2023-2028

Image
 The latest report by IMARC Group, titled “ Personal Mobility Devices Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028“ . offers a comprehensive analysis of the industry, which comprises insights on the global personal mobility devices market growth . The global market size reached US$ 12.2 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 17.1 Billion by 2028, exhibiting a growth rate (CAGR) of 5.3% during 2023-2028. Personal mobility devices (PMDs) are compact, motorized vehicles designed to assist individuals with mobility impairment in ambulation. These vehicles can be manual or electrically powered, allowing individuals to move freely and independently while providing pain relief and improved mobility. Some commonly available PMDs are walkers, forearm crutches, roll-about, canes, triangular walkers, rolling walkers with seats, and ankle-foot orthotics. They are easy to operate, cost-effective, portable, preven...
Read more

Annatto Market 2023, Size, Growth, Share and Forecast by 2028

Image
The latest report by IMARC Group, titled “ Annatto Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028 ”. The global annatto market size reached US$ 213.63 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 285.15 Million by 2028, exhibiting a growth rate (CAGR) of 4.80% during 2023-2028. Annatto refers to a natural colorant and flavoring agent obtained from the seeds of the achiote tree. It has a vibrant yellow to orange-red color and is commonly used to add color to food products, including cheese, butter, snacks, etc. Annatto also contains carotenoids, such as bixin and norbixin, that can aid in protecting cells from damage caused by free radicals. In addition to this, it also comprises tocotrienols, a type of vitamin E that assists in minimizing cholesterol levels and improving heart health. As a result, this natural colorant and flavoring agent finds wide-ranging applications in the pharmaceuticals and food and bevera...
Read more