Title: Power-to-Gas Market Research Report - Global Forecast till 2025
1Power-to-Gas Market Research Report - Global
Forecast till 2025
- Power-to-Gas Market Outlook and Opportunities in
Grooming Regions with Forecast 2026
2Market Highlights
- Power-to-gas is a process of converting
electrical energy into hydrogen or methane
syngas. The hydrogen gas produced through this is
either used as fuel or chemicals in industrial
processes. - The increasing share of renewable energy in the
power generation mix is likely to drive the
market during the forecast period. The global
electricity demand is projected to grow at a
notable rate in the next few years due to rapid
urbanization, increasing population size,
infrastructure development, and enhanced access
to electricity. Power generation sources such as
thermal energy, gas, and diesel contribute
primarily to carbon emissions. Stakeholders in
the energy generation industry are actively
seeking opportunities to reduce their carbon
footprint and have been focusing on raising the
share of renewable energy sources in the total
power generation mix. Renewable energy sources,
especially solar and wind, are used for
electricity generation. Moreover, the increasing
concerns regarding global warming and reducing
dependence on fossil fuel-based power generation
have boosted the adoption of solar and wind
energy sources to meet the growing energy demand.
According to the Energy Transition, Outlook 2018
by DNV GL (Norway), the share of solar PV energy
sources is expected to contribute nearly 39 in
the total energy generation source by 2050 in the
Middle East North Africa. Such developments are
expected to increase the share of renewable
energy in the power generation mix.
3- Moreover, the energy generated from renewable
energy sources is used to generate hydrogen
through the power-to-gas technologies. Hydrogen
is used for applications in various sectors,
including power generation, transportation, and
refineries. Such factors are expected to increase
the demand for power to gas technologies. Thus,
the increasing share of renewable energy in the
power generation mix is expected to drive the
growth of the global power-to-gas market during
the forecast period. - Moreover, measures to promote hydrogen production
technologies are expected to boost the growth of
the global power-to-gas market. Many government
bodies and companies across the world are
focusing on introducing several initiatives such
as programs, policies, measures, and incentives
for the development of hydrogen production
technology. Hydrogen, as a fuel source, offers
several advantages such as high efficiency,
lightweight, and zero-emission. Hydrogen is used
in various applications, including ammonia
production, refineries, transportation, and power
generation. The US Department of Energy (DOE)
launched H2_at_Scale in 2018 to promote the
production, transportation, and storage of
hydrogen. Moreover, in January 2020, the
department announced plans to provide up to USD
64 billion for the H2_at_Scale initiative to boost
the research development for the production and
storage of hydrogen. The Indian government, as
per the National Hydrogen Energy Road Map,
planned to have one billion hydrogen-fueled
vehicles in the country by 2020. Similarly, in
the UK, in February 2020, the British government
announced funding initiatives to boost the
production of hydrogen in the country. The
Canadian government, along with the Canadian
Hydrogen and Fuel Cell Association (CHFCA), is
focusing on the development of hydrogen
technologies. Such initiatives encourage
consumers to boost the development of hydrogen
production. Therefore, the measures to promote
hydrogen power technologies are expected to
create an opportunity for the players operating
in the global power-to-gas market during the
forecast period.
4Market Research Analysis
- In terms of region, the power-to-gas market is
segmented into Europe, Asia-Pacific, North
America, the Middle East Africa, and South
America. Europe is expected to dominate the
power-to-gas market during the forecast period.
The increasing demand for renewable energy
sources and the developments in hydrogen
generation to drive the growth of the
power-to-gas market in the region. - The increasing share of renewable energy in the
power generation mix is one of the major drivers
boosting the global power-to-gas market. The
global electricity demand is projected to grow at
a notable rate in the next few years due to rapid
urbanization, increasing population size,
infrastructure development, and enhanced access
to electricity. Power generation sources such as
thermal energy, gas, and diesel contribute
primarily to carbon emissions. Stakeholders in
the energy generation industry are actively
seeking opportunities to reduce their carbon
footprint and have been focusing on raising the
share of renewable energy sources in the total
power generation mix. Renewable energy sources,
especially solar and wind, are used for
electricity generation. Moreover, the increasing
concerns regarding global warming and reducing
dependence on fossil fuel-based power generation
have boosted the adoption of solar and wind
energy sources to meet the growing energy demand.
According to the Energy Transition Outlook 2018
by DNV GL (Norway), the share of solar PV energy
sources is expected to contribute nearly 39 in
the total energy generation source by 2050 in the
Middle East North Africa. Such developments are
expected to increase the share of renewable
energy in the power generation mix.
5Furthermore, the concerns regarding the growing
carbon emissions and the efforts to curb them
result in the need to increase the share of
renewable energy in the power generation mix.
Wind, solar, biomass, and other renewable energy
sources witness growth in demand as they help
reduce carbon emissions. Renewable energy sources
generate electricity without any polluting
emissions, while non-renewable energy sources,
such as coal and natural gas, emit harmful gases
and wastes. Therefore, the awareness regarding
environmental safety and security has fueled the
market growth for renewable energy globally.
Furthermore, countries across the world, such as
India, Germany, Saudi Arabia, and the UAE, have
set targets to increase the number of renewable
energy generation sources to increase the share
of renewable energy in the power generation mix.
For instance, in 2019, the Saudi Arabian
government set a target to generate 60GW of
energy from renewables by 2030. In the UAE, in
2017, the UAE government launched Energy Strategy
2050 to increase the share of renewable energy to
50 by 2050 in the countrys total energy mix.
Similarly, in the same year, the German
government set a target to achieve 98 GW of solar
electricity generation capacity by 2030.
Additionally, in 2019, the Indian government set
a goal to reach 100 GW solar power installation
capacity by 2022. Such developments are expected
to increase the share of renewable energy
capacity in the total power generation mix across
the globe.
6Scope of the Report
- This study provides an overview of the global
power-to-gas market, tracking four market
segments across five geographic regions. The
report studies key players, providing a four-year
annual trend analysis that highlights market
size, and share for North America, Europe, and
Asia-Pacific. The report also provides a
forecast, focusing on the market opportunities
for the next five years for each region. The
scope of the study segments the global
power-to-gas market by technology, capacity,
end-user, and region. - Browse Full Report Details _at_ https//www.marketres
earchfuture.com/reports/power-gas-market-8621
7Key Players
- The key industry participants of the global
market for power-to-gas include Mcphy Energy
S.A., Siemens, Thyssenkrupp AG, Man Energy
Solutions, Engie, Exytron Vertrieb GmbH,
Hydrogenics, NEL ASA, Green Hydrogen, Ineratec,
ITM Power, Uniper SE, and Hitachi Zosen Inova AG.
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