Power to Gas Market Size – USD 32.8 million in 2019, Market Growth – CAGR of 10.2%, Market Trends – Increasing adoption of electric vehicles
VANCOUVER, CANADA, BC, November 18, 2021 /EINPresswire.com/ — Global Power to Gas Market Research report is a comprehensive overview of the market published by Emergen Research that provides a thorough assessment of market scenario with regards to the market size, share, demand, growth, trends, and forecast from 2019-2027. The report provides the analytical data in an organized format segmented into charts, tables, graphs, figures, and diagrams among other pictorial representation.
The global Power to Gas Market will be worth USD 68.3 Million by 2027, according to a current analysis by Emergen Research. The growth of this market can be attributed to the increasing demand for electricity owing to rapid urbanization. Both the transportation and industrial sector has increasingly adopted renewable sources of energy.
The ongoing trend of adopting electric vehicles in the developing economies is a key contributing factor to the increasing demand for the system in the present day. The increasing demand for hydrogen-based fuel cell technology utilized in electric vehicles to provide power to the electric motor is expected to drive the growth of the system over the forecast period.
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Key Highlights From The Report
In May 2019, ITM Power introduced a new business division named ITM Motive. The division was introduced to operate a portfolio of stations refueling hydrogen in UK. The ITM Motive will be responsible for managing the energy storage and will operate a network of eight hydrogen refueling stations that will be publicly accessible.
The electrolysis segment is forecasted to grow with the fastest CAGR of 10.3% over the forecast period and accounted for the largest market share in 2019. The growing consumption of hydrogen in the transportation sector due to its higher efficiency and lower emission levels properties has resulted in the growth of the segment.
The Industrial segment is expected to register significant growth over the forecast period due to their increasing initiatives of utilizing cleaner sources of energy in order to be energy efficient in the future.
The Power to Gas report also provides detail about market players in the global Power to Gas market along with its company overview, global status, product portfolio, business financial standing, and license agreement.
Key participants include ITM Power, Hydrogenics, Siemens, Nel Hydrogen, McPhy Energy, MAN Energy Solutions, Carbotech, SoCalGas, Uniper, and ThyssenKrupp, among others.
The Power to Gas report also offers insights into key factors such as investment opportunities regulatory framework, and technological advancements that are expected to contribute to revenue growth of each regional market.
Europe region accounted for the largest market share of the Power to gas market in 2019 and is expected to be the fastest-growing region over the forecast period. The growth of the region is mainly due to the presence of the key market players like ITM Power, Siemens, McPhy Energy, and many others.
Regional analysis covers the following key geographies of the world:
North America (U.S., Canada, Mexico)
Europe (Italy, U.K., Germany, France, Rest of Europe)
Asia Pacific (India, China, Japan, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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Global Power to Gas Market Segmentation:
The Power to Gas market has been divided into types, applications, and regions. The Power to Gas Industry report offers a growth analysis of each segment to provide an accurate calculation and forecast of sales in the time period 2020-2027. The analysis offers strategic insights that provide fruitful information to the readers to help them capitalize on the business offerings.
Technology Outlook (Revenue, USD Million; 2017-2027)
Methanation (Power-to- methane)
Electrolysis (Power-to- Hydrogen)
End-user Outlook (Revenue, USD Million; 2017-2027)
Key Questions Covered in the Report:
Who are the key players of the Power to Gas market? What are the strategies adopted by them to gain a leading share of the market?
What are the key trends and demands influencing the market growth?
What are the crucial growth driving and restraining factors of the Power to Gas market?
What are the key outcomes of SWOT analysis and Porter’s Five Forces analysis?
The Power to Gas report also provides a comprehensive analysis of the key companies as well as new players emerging in the industry. The report discusses in detail the recent technological trends, business initiatives such as mergers and acquisitions, joint ventures, collaborations, etc., product portfolio and advancements, and different investment strategies adopted by the companies to cater to a global audience and gain a robust footing in the Power to Gas market.
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