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Upcoming Allied Market Research
2022
Power-to-gas Market

Power-to-gas Market by Technology (Electrolysis, Methanation, and Others), Capacity (Less than 100 kW, 100–999 kW, 1000 kW and above, and Others), and End Use (Commercial, Industrial, Household, Utilities, Chemical, and Others): Global Opportunity Analysis and Industry Forecast, 2021–2028

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Jul 2022 | 172 Views
   
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COVID-19

Pandemic disrupted the entire world and affected many industries.

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Power-to-gas (also known as P2G or PtG) technology adopts the electrolysis process to produce hydrogen and methane gas from renewable or excess electricity available. This hydrogen gas is then utilized as a chemical in industries or fuel. The power-to-gas systems reserve excessive energy from renewable resources such as wind and solar energy and utilize it for several other operations. This system can be utilized in transportation, heat supply, and for industrial purposes. The work of the power-to-gas industry is a constructive step in combining renewable resources with sources of power generation. However, the loss of energy in the working of process is a major constraint in power-to-gas market growth.

Market Scope and Structure Analysis

Report Metric

Details

Market Size Available for Years

  2020–2030

  Base Year Considered

  2020

  Forecast Period

  2021–2030

  Forecast Unit

  Value (USD)

  Segments Covered

  Technology, Capacity, End Use, and Region

  Companies Covered

ITM Power Ltd., McPhy Energy S.A., Siemens AG, Man Energy Solutions SE, Electrochaea GmbH, Hydrogenics

AEG Power Solutions Ltd, Solarplaza Ltd, ZSW Co., Alliander N.V., Energinet.dk, DNV GL Ltd., and E.ON SE

 

COVID-19 Impact Analysis 

  • The coronavirus's unfavorable global effects are already evident, and had a big impact on the power-to-gas market in 2020.
  • The World Health Organization (WHO) declared a public health emergency after the COVID-19 virus outbreak in December 2019. The disease has spread to over 100 nations and resulted in massive deaths globally. Exports & imports, global manufacturing, tourism, and financial sectors have all been heavily damaged.
  • The downward pressure on the global economy, which had previously shown signs of improvement, has escalated once more. The outbreak of the virus has added danger factors to the international economy's already sluggish development. Many international groups have stated that the global economy is experiencing its most difficult moment since the financial crisis.
  • Since the pandemic, the restriction of imports and exports has affected the power-to-gas market to a great extent as consumers’ consumption and demand patterns are changing amidst the pandemic. Issues such as labor shortages, raw material unavailability, stagnation of the global trade and subsequent delays in installation are estimated to drive the prices upwards, which will prove to be a significant obstacle that the industry will have to adapt to. Increase in prices will cause project delays which, in turn, would again cause a spike in prices. 

Top Impacting Factors

The rise in demand for power-to-gas systems is the consequence of the elevation of power generation sources integrating with renewable resources. The electricity demand globally grows at a faster rate due to population size increase, rapid organization, access to electricity, and infrastructure development. Also, the use of thermal energy, gas and diesel for power generation leads to carbon emission, which is extremely hazardous. Hence, the stakeholders in the power-to-gas market are focusing on sharing renewable resources with power generation for curtailing carbon footprints. Also, the increase in awareness for environmental issues has led to the increase of the market share.


Market Trends

  • Focus on Renewable Resources for Energy Generation is A Key Driver
  • The power-to-gas market grows at a faster rate and can achieve the momentum in the coming years. The increase in need for renewable resources for power supply is the primary factor that drives the market. Since the population is now more concerned about environmental issues, this technique has gained momentum to a large extent.
  • Increasing Population and Urbanization in Developing Economies Boost Market Growth 
  • The global demand for electricity increases due to the growth in population and economies of the countries globally. Companies seek cost efficient and more effective method of energy generation. Along with that, they are also looking for a method of electricity generation that does not have any adverse effect on the environment, which is where the power-to-gas market has an upper hand.
  • More Per Capita Income and Rise in Expenses Lead to Indirect Demand Growth
  • In developing economies of China and India, growth in the transportation sector, the rise in household expenses, industrial uses of energy and increased production of chemicals are the key drivers of power-to-gas market.
     

Key Benefits of Report

  • This study presents the analytical depiction of the power-to-gas industry along with the current trends and future estimations to determine the imminent investment pockets.
  • The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the power-to-gas market share.
  • The current market is quantitatively analyzed from 2020 to 2028 to highlight the power-to-gas market growth scenario.
  • Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market. 
  • The report provides a detailed power-to-gas market analysis based on competitive intensity and how the competition will take shape in the coming years.

Questions Answered in Power-to-gas Market Report

  • Who are the leading market players active in the power-to-gas market?
  • What current trends will influence the market in the next few years?
  • What are the driving factors, restraints, and opportunities in the market?
  • What future projections would help in taking further strategic steps?
 
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We refer a broad array of industry sources for our secondary, which typically include; however, not limited to: Company SEC filings, annual reports, company websites, broker & financial reports and investor presentations for competitive scenario and shape of the industry

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