Power-To-Gas Market size was valued at US$ 31.57 Mn. in 2021 and the total revenue is expected to grow at a CAGR of 10.2% through 2021 to 2029, reaching nearly US$ 68.66 Mn.
Power-To-Gas Market Overview:
The Power-To-Gas market study gives a complete view of the competition, including the market share and company profiles of the worldwide industry's leading competitors. The scope of the research includes a full assessment of the Power-To-Gas r Market, as well as the reasons for variations in the industry's growth across a number of sectors.
Market Scope:
To validate the market size and estimate the market size by different segments, top-down and bottom-up methodologies are utilized. The research's market estimates are based on the sale price (excluding any discounts provided by the manufacturer, distributor, wholesaler, or traders). Weights applied to each section based on usage rate and average sale price are used to determine percentage splits, market shares, and segment breakdowns. The percentage adoption or usage of the provided market Size in the relevant area or nation is used to determine the country-wise splits of the overall market and its sub-segments.
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Segmentation:
An increase in demand for renewable hydrogen, which has the potential to decarbonize multiple sectors are expected to drive the market growth. The driver for the growth of the market is the cost reduction of electrolyzer technology. According to the International Energy Agency, the electrolyzer stacks are responsible for 50% and 60% of the capital expenditure, and remaining factors like power electronics, gas-conditioning, and plant components are accounting for the remainder of the expenditure. Currently, The CAPEX requirements for alkaline electrolyzers have a range from $500 to $1,400/kWe. The PEM electrolyzers have a range of $1,100 to $1,800/kWe, and SOEC has an estimated range of $2,800 to $5,600/kWe. The costs for high-temperature electrolysis are expected to plunge 80% by 2021. Furthermore, prominent key players are focusing to build a modular renewable methane production. For instance, The Australian Renewable Energy Agency has granted US $1.1 Mn fund to APA Group to build a renewable methane production demonstration plant.
Currently, only small power-to-gas plants (up to 10 MW) are in operation. The production of synthetic gases is currently very high. The Electrolysis manufacturing capacity wants to develop for the up scaling challenges. The production cost of gases is largely determined by capital costs. There will be chances of cost reduction because of up-scaling and learning effects. The framework of regulations, market incentives, tariffs have not taken into account for the opportunity of power-to-gas. With the seasonal storage and other technologies around, there is a need for further development and existing obstacles have to be addressed.
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Key Players:
Primary and secondary research is used to identify market leaders, while primary and secondary research is utilized to determine market revenue. Primary research included in-depth interviews with key opinion leaders and industry specialists such as experienced front-line personnel, CEOs, and marketing executives. Secondary research included a review of the leading manufacturers' annual and financial reports, whereas primary research included in-depth interviews with key opinion leaders and industry specialists such as experienced front-line personnel, CEOs, and marketing executives. Secondary sources are utilized to compute percentage splits, market shares, growth rates, and global market breakdowns, which are then checked using primary data.
The biggest players in the Power-To-Gas r market are as follows:
• Hydrogenics
• ITM Power
• McPhy Energy
• Siemens
• MAN Energy Solutions
• Uniper
• Micropyros
• Carbotech
• Power-to-gas Hungary
• Aquahydrex
• Fuelcell Energy
• Nel Hydrogen
• ThyssenKrupp
• Electrochaea
Regional Analysis:
Individual market influencing components and changes in market regulations affecting the present and future market trends are also included in the regional overview of the Power-To-Gas r market analysis. Current and future trends are researched in order to assess the entire market potential and identify profitable patterns in order to get a stronger foothold. The geographical market assessment is based on the present environment and expected developments.
COVID-19 Impact Analysis on Power-To-Gas r Market:
End-user industries where Power-To-Gas r are utilized saw a decline in growth from January 2020 to May 2020 in a number of countries, including China, Italy, Germany, the United Kingdom, and the United States, as well as Spain, France, and India, due to a pause in operations. This resulted in a significant drop in the revenues of enterprises in these industries, as well as in demand for Power-To-Gas r manufacturers, affecting the Power-To-Gas r market's growth in 2020. End-user business demand for Power-To-Gas r has plummeted as a result of lockdowns and an increase in COVID-19 events throughout the world.
Key Questions Answered in the Power-To-Gas r Market Report are:
- In 2021, which segment accounted for the most share of the Power-To-Gas r market?
- What is the competitive landscape of the Power-To-Gas r market?
- What are the key factors influencing Power-To-Gas r market growth?
- In the Power-To-Gas r market, which region has the most market share?
- What will be the CAGR of the Power-To-Gas r market during the forecast period (2022-2027)?
