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Report Description

The Global Power-to-Gas Market is projected to experience substantial growth between 2024 and 2028. The demand for cleaner Power-to-Gas solutions has risen in response to the escalating need for decarbonization, aiming to mitigate the impact of greenhouse gases on the environment and reduce power costs by leveraging renewable energy sources.

The electrolysis method is employed by power-to-gas technology to generate hydrogen gas from available, renewable, or surplus electricity. Electrolysis serves as the initial step in the process of producing synthetic hydrogen (H2) from water and renewable energy. In the subsequent stage, this hydrogen can be utilized directly as a final energy carrier or converted into methane, synthesis gas, electricity, liquid fuels, or chemicals. Methane is formed in the second stage of the process through the reaction between hydrogen and carbon dioxide.

 

Renewable Energy Integration to Fuel Market Growth 

 

Renewable energy integration plays a pivotal role in driving the global power-to-gas market. One of the primary challenges associated with renewable energy sources such as wind and solar is their intermittent nature, as they generate electricity only when the wind is blowing or the sun is shining. However, the demand for electricity does not always align with the availability of renewable energy.

 

Power-to-gas technology offers a solution to this challenge by converting surplus renewable electricity into hydrogen or synthetic natural gas. When renewable generation exceeds immediate demand, the surplus electricity can power an electrolyzer, which splits water into hydrogen and oxygen through electrolysis. The resulting hydrogen can be stored for future use or applied in various applications. By converting excess electricity into hydrogen or synthetic natural gas, power-to-gas enables the efficient utilization and long-term storage of renewable energy. This stored energy can be utilized during periods of low renewable generation or high electricity demand, providing grid flexibility and balancing supply-demand dynamics.

Furthermore, power-to-gas facilitates the integration of renewable energy into various sectors beyond electricity generation. The generated hydrogen can be utilized as a clean fuel in the transportation sector, replacing fossil fuels and reducing carbon emissions. It can also be employed in industrial processes or as a heating source in buildings, thereby contributing to the decarbonization efforts in these sectors.

The ability to store and convert excess renewable electricity into hydrogen or synthetic natural gas through power-to-gas technology plays a crucial role in achieving a reliable and resilient energy system. It helps maximize the utilization of renewable resources, minimize curtailment, and ensure a stable energy supply even during periods of low renewable generation.

In conclusion, as the world continues its transition towards a more sustainable energy system, the integration of renewable energy sources becomes essential. Power-to-gas technology provides a viable pathway for the integration of renewable energy by enabling efficient storage, flexibility, and utilization of excess renewable electricity, thereby supporting the growth and adoption of renewable energy sources on a global scale.

Hydrogen Economy Development Drives Market Growth

The development of a hydrogen economy serves as a significant catalyst for the global power-to-gas market. As nations and industries acknowledge the imperative to transition towards cleaner and more sustainable energy sources, hydrogen has emerged as a versatile and low-carbon energy carrier. Power-to-gas technology plays a pivotal role in the production of green hydrogen, which refers to hydrogen produced using renewable energy sources. Through the process of electrolysis, surplus renewable electricity is utilized to split water molecules into hydrogen and oxygen. This hydrogen can be efficiently stored, transported, and utilized across various sectors.

Power-to-gas systems offer a scalable and efficient solution for large-scale green hydrogen production. By capitalizing on excess renewable electricity, power-to-gas enables the continuous generation of hydrogen, effectively addressing the intermittency challenge associated with renewable energy sources. This ensures a consistent and reliable supply of green hydrogen, which is paramount for the advancement of a hydrogen economy. Green hydrogen produced through power-to-gas exhibits numerous applications across diverse sectors. It can serve as a clean fuel for transportation, powering fuel cell electric vehicles (FCEVs) and effectively reducing greenhouse gas emissions. Additionally, power-to-gas facilitates the decarbonization of industrial processes, including refining, chemical production, and steel manufacturing, by substituting fossil fuels with hydrogen.

Moreover, power-to-gas enables the seamless integration of hydrogen into existing natural gas infrastructure. Hydrogen generated through power-to-gas can be injected into the natural gas grid or blended with natural gas, establishing a pathway for decarbonizing the heating and cooking sectors. This blending approach, known as synthetic natural gas, allows for the utilization of existing gas infrastructure while gradually reducing the carbon intensity of the gas supply. The expansion of the power-to-gas market is closely tied to the advancement of a hydrogen economy. As governments, industries, and research institutions invest in the scale-up of hydrogen production, storage, and distribution, power-to-gas technology plays a vital role in facilitating large-scale green hydrogen production. The capacity to convert surplus renewable electricity into hydrogen ensures a sustainable and carbon-neutral energy source for the emerging hydrogen economy..

In conclusion, power-to-gas technology plays a pivotal role in facilitating the establishment of a hydrogen economy. By generating green hydrogen through surplus renewable electricity, power-to-gas systems bolster the development of diverse hydrogen applications, spanning from transportation to industrial processes. This factor stimulates the uptake and expansion of power-to-gas solutions, thereby contributing to the overall progress of the global hydrogen economy.

 

Technological Advancements in power-to-gas market


Technological advancements are instrumental in propelling the global power-to-gas market forward. Ongoing innovation and enhancements in power-to-gas systems and related technologies are bolstering their efficiency, cost-effectiveness, and overall performance. These advancements significantly contribute to the wider adoption and scalability of power-to-gas solutions. Here's an insight into how technological advancements are driving the power-to-gas market.:

·         Electrolysis Efficiency: Electrolysis plays a pivotal role in power-to-gas systems, facilitating the splitting of water into hydrogen and oxygen through the use of electricity. Technological advancements have been dedicated to enhancing the efficiency of electrolysis, minimizing energy losses, and optimizing the overall conversion process. Innovations, such as advanced catalysts, membrane materials, and cell designs, have yielded more efficient electrolyzers, enabling more effective electricity-to-hydrogen conversion.

·         System Integration: Significant progress has also been made in integrating power-to-gas systems into the current energy infrastructure. This encompasses the development of smart grid solutions that seamlessly integrate power-to-gas systems with renewable energy sources, grid management systems, and energy storage technologies. Enhanced integration capabilities result in the efficient utilization of surplus renewable electricity, improved grid stability, and overall system performance enhancement.

·         Storage Technologies: The advancement of cutting-edge storage technologies is crucial for the efficient utilization of power-to-gas systems. Technological developments have focused on enhancing the storage capacity, efficiency, and durability of hydrogen or synthetic natural gas storage solutions. These advancements include the development of advanced hydrogen storage materials, such as solid-state hydrogen storage materials or advanced compressed gas storage techniques, which improve the storage density and safety of hydrogen.


Recent Developments

·         In June 2022, the US Department of Energy announced a substantial investment of USD 504.4 million to finance Advanced Clean Energy Storage, a clean hydrogen and energy storage plant. This plant, located in Delta, Utah, will integrate two 4.5 million barrel salt caverns with 220 megawatts of alkaline electrolysis to enable long-term energy storage through clean hydrogen. Once operational, the plant will capture surplus renewable energy, convert it into hydrogen, and utilize it as fuel for the Intermountain Power Agency's (IPA) Renewed Project. The Renewed Project is a gas turbine combined cycle power plant that aims to operate on 100% clean hydrogen by 2045.

·         In February 2022, Mitsubishi Power and HydrogenPro entered into a purchase agreement for significant electrolyzer equipment. Through the process of electrolysis, the hydrogen electrolyzer system will generate green hydrogen and oxygen using wind and solar energy.

·         In January 2022, ThyssenKrupp Uhde Chlorine Engineers and Shell signed a supply agreement for the Hydrogen Holland I project, a large-scale initiative in the port of Rotterdam, Netherlands. Under the agreement, ThyssenKrupp Uhde will design, procure, and construct a 200 MW electrolysis plant utilizing their 20 MW large-scale alkaline water electrolysis module. Following Shell's final investment decision (FID) to proceed with the project, construction on the first electrolyzer is expected to commence towards the end of 2022, with production slated for 2024.

 

Market Segmentation

Global Power-to-Gas Market is segmented on the basis of technology, capacity, end-user,region and competitive landscape. Based on technology, the market is divided into Power-to-Hydrogen, and Power-to-Methane. Based on capacity, the market is divided into More than 1000 KW, 100 to 1000 KW, and Less than 100 KW. Based on end-user, the market is divided into Utilities, Industrial, and Commercial. Based on region, the market is further divided into North America, Asia-Pacific, Europe, South America, Middle East & Africa.

Market players

Major  players in the Global Power-to-Gas Market are Sempra Energy, GRT Gaz SA, MAN Energy Solutions, Sunfire GmbH, Ineratec GmbH, Electrochaea GmbH, MicroPyros BioEnerTec GmbH, Siemens Energy AG, Hitachi Zosen Inova AG, AquahydreX Inc.



Attribute

Details

Base Year

2022

Historic Data

2018 – 2021

Estimated Year

2023

Forecast Period

2024 – 2028

Quantitative Units

Revenue in USD Million and CAGR for 2018-2022 and 2023-2028

Report coverage

Revenue forecast, company share, growth factors, and trends

Segments covered

Technology

Capacity

End-User

Regional scope

North America, Asia-Pacific, Europe, South America, Middle East & Africa

Country scope

United States, Canada, Mexico, China, India, Japan, South Korea, Australia, Germany, United Kingdom, France, Spain, Italy, Brazil, Argentina, Colombia, Saudi Arabia, South Africa, UAE

Key companies profiled

Sempra Energy, GRT Gaz SA, MAN Energy Solutions, Sunfire GmbH, Ineratec GmbH, Electrochaea GmbH, MicroPyros BioEnerTec GmbH, Siemens Energy AG, Hitachi Zosen Inova AG, AquahydreX Inc.

Customization scope

10% free report customization with purchase. Addition or alteration to country, regional & segment scope.

Pricing and purchase options

Avail customized purchase options to meet your exact research needs. Explore purchase options

Delivery Format

PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

 

Report Scope:

In this report, the Global Power-to-Gas Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

·         Power-to-Gas Market, By Technology:

o   Power-to-Hydrogen

o   Power-to-Methane

·         Power-to-Gas Market, By Capacity:

o   More than 1000 KW

o   100 to 1000 KW

o   Less than 100 KW

·         Power-to-Gas Market, By End-User:

o   Utilities

o   Industrial

o   Commercial

·         Power-to-Gas Market, By Region:

o   North America

§  United States

§  Canada

§  Mexico

o   Asia-Pacific

§  China

§  India

§  Japan

§  South Korea

§  Australia

o   Europe

§  Germany

§  United Kingdom

§  France

§  Spain

§  Italy

o   South America

§  Brazil

§  Argentina

§  Colombia

o   Middle East

§  Saudi Arabia

§  South Africa

§  UAE

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Global  Power-to-Gas Market.

Available Customizations:

With the given market data, TechSci Research offers customizations according to a company's specific needs. The following customization options are available for the report:

Company Information

·         Detailed analysis and profiling of additional market players (up to five).

The Global Power-to-Gas Market is an upcoming report to be released soon. If you wish an early delivery of this report or want to confirm the date of release, please contact us at [email protected]

Table of content

1.    Product Overview

1.1.  Market Definition

1.2.  Scope of the Market

1.2.1.    Markets Covered

1.2.2.    Years Considered for Study

1.2.3.    Key Market Segmentations

2.    Research Methodology

2.1.  Baseline Methodology

2.2.  Key Industry Partners

2.3.  Major Association and Secondary Sources

2.4.  Forecasting Methodology

2.5.  Data Triangulation & Validation

2.6.  Assumptions and Limitations

3.    Executive Summary

4.    Voice of Customers

5.    Global Power-to-Gas Market Outlook

5.1.  Market Size & Forecast

5.1.1.    By Value

5.2.  Market Share & Forecast

5.2.1.    By Technology (Power-to-Hydrogen, and Power-to-Methane)

5.2.2.    By Capacity (More than 1000 KW, 100 to 1000 KW, and Less than 100 KW)

5.2.3.    By End-User (Utilities, Industrial, and Commercial)

5.2.4.    By Region

5.3.  By Company (2022)

5.4.  Market Map

6.    North America Power-to-Gas Market Outlook

6.1.  Market Size & Forecast

6.1.1.    By Value

6.2.  Market Share & Forecast

6.2.1.    By Technology

6.2.2.    By Capacity

6.2.3.    By End-User

6.2.4.    By Application

6.2.5.    By Country

6.3.  North America: Country Analysis

6.3.1.    United States Power-to-Gas Market Outlook

6.3.1.1.        Market Size & Forecast

6.3.1.1.1.     By Value 

6.3.1.2.        Market Share & Forecast

6.3.1.2.1.           By Technology

6.3.1.2.2.           By Capacity

6.3.1.2.3.           By End-User

6.3.1.2.4.           By Application

6.3.2.    Canada Power-to-Gas Market Outlook

6.3.2.1.        Market Size & Forecast

6.3.2.1.1.     By Value 

6.3.2.2.        Market Share & Forecast

6.3.2.2.1.           By Technology

6.3.2.2.2.           By Capacity

6.3.2.2.3.           By End-User

6.3.2.2.4.           By Application

6.3.3.    Mexico Power-to-Gas Market Outlook

6.3.3.1.        Market Size & Forecast

6.3.3.1.1.     By Value 

6.3.3.2.        Market Share & Forecast

6.3.3.2.1.           By Technology

6.3.3.2.2.           By Capacity

6.3.3.2.3.           By End-User

6.3.3.2.4.           By Application

7.    Asia-Pacific Power-to-Gas Market Outlook

7.1.  Market Size & Forecast

7.1.1.    By Value

7.2.  Market Share & Forecast

7.2.1.    By Technology

7.2.2.    By Capacity

7.2.3.    By End-User

7.2.4.    By Application

7.2.5.    By Country

7.3.  Asia-Pacific: Country Analysis

7.3.1.    China Power-to-Gas Market Outlook

7.3.1.1.        Market Size & Forecast

7.3.1.1.1.     By Value 

7.3.1.2.        Market Share & Forecast

7.3.1.2.1.           By Technology

7.3.1.2.2.           By Capacity

7.3.1.2.3.           By End-User

7.3.1.2.4.           By Application

7.3.2.    India Power-to-Gas Market Outlook

7.3.2.1.        Market Size & Forecast

7.3.2.1.1.     By Value 

7.3.2.2.        Market Size & Forecast

7.3.2.2.1.           By Technology

7.3.2.2.2.           By Capacity

7.3.2.2.3.           By End-User

7.3.2.2.4.           By Application

7.3.3.    Japan Power-to-Gas Market Outlook

7.3.3.1.        Market Size & Forecast

7.3.3.1.1.     By Value 

7.3.3.2.        Market Size & Forecast

7.3.3.2.1.           By Technology

7.3.3.2.2.           By Capacity

7.3.3.2.3.           By End-User

7.3.3.2.4.           By Application

7.3.4.    South Korea Power-to-Gas Market Outlook

7.3.4.1.        Market Size & Forecast

7.3.4.1.1.     By Value 

7.3.4.2.        Market Size & Forecast

7.3.4.2.1.           By Technology

7.3.4.2.2.           By Capacity

7.3.4.2.3.           By End-User

7.3.4.2.4.           By Application

7.3.5.    Australia Power-to-Gas Market Outlook

7.3.5.1.        Market Size & Forecast

7.3.5.1.1.     By Value 

7.3.5.2.        Market Share & Forecast

7.3.5.2.1.           By Technology

7.3.5.2.2.           By Capacity

7.3.5.2.3.           By End-User

7.3.5.2.4.           By Application

8.    Europe Power-to-Gas Market Outlook

8.1.  Market Size & Forecast

8.1.1.    By Value

8.2.  Market Share & Forecast

8.2.1.    By Technology

8.2.2.    By Capacity

8.2.3.    By End-User

8.2.4.    By Application

8.2.5.    By Country

8.3.  Europe: Country Analysis

8.3.1.    Germany Power-to-Gas Market Outlook

8.3.1.1.        Market Size & Forecast

8.3.1.1.1.     By Value 

8.3.1.2.        Market Share & Forecast

8.3.1.2.1.           By Technology

8.3.1.2.2.           By Capacity

8.3.1.2.3.           By End-User

8.3.1.2.4.           By Application

8.3.2.    United Kingdom Power-to-Gas Market Outlook

8.3.2.1.        Market Size & Forecast

8.3.2.1.1.     By Value 

8.3.2.2.        Market Share & Forecast

8.3.2.2.1.           By Technology

8.3.2.2.2.           By Capacity

8.3.2.2.3.           By End-User

8.3.2.2.4.           By Application

8.3.3.    France Power-to-Gas Market Outlook

8.3.3.1.        Market Size & Forecast

8.3.3.1.1.     By Value 

8.3.3.2.        Market Share & Forecast

8.3.3.2.1.           By Technology

8.3.3.2.2.           By Capacity

8.3.3.2.3.           By End-User

8.3.3.2.4.           By Application

8.3.4.    Italy Power-to-Gas Market Outlook

8.3.4.1.        Market Size & Forecast

8.3.4.1.1.     By Value 

8.3.4.2.        Market Share & Forecast

8.3.4.2.1.           By Technology

8.3.4.2.2.           By Capacity

8.3.4.2.3.           By End-User

8.3.4.2.4.           By Application

8.3.5.    Spain Power-to-Gas Market Outlook

8.3.5.1.        Market Size & Forecast

8.3.5.1.1.     By Value 

8.3.5.2.        Market Share & Forecast

8.3.5.2.1.           By Technology

8.3.5.2.2.           By Capacity

8.3.5.2.3.           By End-User

8.3.5.2.4.           By Application

9.    South America Power-to-Gas Market Outlook

9.1.  Market Size & Forecast

9.1.1.    By Value

9.2.  Market Share & Forecast

9.2.1.    By Technology

9.2.2.    By Capacity

9.2.3.    By End-User

9.2.4.    By Application

9.2.5.    By Country

9.3.  South America: Country Analysis

9.3.1.    Brazil Power-to-Gas Market Outlook

9.3.1.1.        Market Size & Forecast

9.3.1.1.1.     By Value 

9.3.1.2.        Market Share & Forecast

9.3.1.2.1.           By Technology

9.3.1.2.2.           By Capacity

9.3.1.2.3.           By End-User

9.3.1.2.4.           By Application

9.3.2.    Argentina Power-to-Gas Market Outlook

9.3.2.1.        Market Size & Forecast

9.3.2.1.1.     By Value 

9.3.2.2.        Market Share & Forecast

9.3.2.2.1.           By Technology

9.3.2.2.2.           By Capacity

9.3.2.2.3.           By End-User

9.3.2.2.4.           By Application

9.3.3.    Colombia Power-to-Gas Market Outlook

9.3.3.1.        Market Size & Forecast

9.3.3.1.1.     By Value 

9.3.3.2.        Market Share & Forecast

9.3.3.2.1.           By Technology

9.3.3.2.2.           By Capacity

9.3.3.2.3.           By End-User

9.3.3.2.4.           By Application

10. Middle East & Africa Power-to-Gas Market Outlook

10.1.             Market Size & Forecast

10.1.1.     By Value

10.2.             Market Share & Forecast

10.2.1. By Technology

10.2.2. By Capacity

10.2.3. By End-User

10.2.4. By Application

10.2.5. By Country

10.3.             Middle East & Africa: Country Analysis

10.3.1. Saudi Arabia Power-to-Gas Market Outlook

10.3.1.1.     Market Size & Forecast

10.3.1.1.1.   By Value 

10.3.1.2.     Market Share & Forecast

10.3.1.2.1.         By Technology

10.3.1.2.2.         By Capacity

10.3.1.2.3.         By End-User

10.3.1.2.4.         By Application

10.3.2. South Africa Power-to-Gas Market Outlook

10.3.2.1.     Market Size & Forecast

10.3.2.1.1.   By Value 

10.3.2.2.     Market Share & Forecast

10.3.2.2.1.         By Technology

10.3.2.2.2.         By Capacity

10.3.2.2.3.         By End-User

10.3.2.2.4.         By Application

10.3.3. UAE Power-to-Gas Market Outlook

10.3.3.1.     Market Size & Forecast

10.3.3.1.1.   By Value 

10.3.3.2.     Market Share & Forecast

10.3.3.2.1.         By Technology

10.3.3.2.2.         By Capacity

10.3.3.2.3.         By End-User

10.3.3.2.4.         By Application

11. Market Dynamics

11.1. Drivers

11.2. Challenges

12. Market Trends & Developments

13. Company Profiles

13.1.     Sempra Energy  

13.1.1.               Business Overview

13.1.2.               Key Revenue and Financials

13.1.3.               Recent Developments

13.1.4.               Key Personnel

13.1.5.               Key Product/Services

13.2.     GRT GAZ SA   

13.2.1.               Business Overview

13.2.2.               Key Revenue and Financials

13.2.3.               Recent Developments

13.2.4.               Key Personnel

13.2.5.               Key Product/Services

13.3.     MAN Energy Solutions

13.3.1.               Business Overview

13.3.2.               Key Revenue and Financials

13.3.3.               Recent Developments

13.3.4.               Key Personnel

13.3.5.               Key Product/Services

13.4.     Sunfire GMBH

13.4.1.               Business Overview

13.4.2.               Key Revenue and Financials

13.4.3.               Recent Developments

13.4.4.               Key Personnel

13.4.5.               Key Product/Services

13.5.     Ineratec GMBH

13.5.1.               Business Overview

13.5.2.               Key Revenue and Financials

13.5.3.               Recent Developments

13.5.4.               Key Personnel

13.5.5.               Key Product/Services

13.6.     Electrochaea GMBH

13.6.1.               Business Overview

13.6.2.               Key Revenue and Financials

13.6.3.               Recent Developments

13.6.4.               Key Personnel

13.6.5.               Key Product/Services

13.7.     MicroPyros BioEnerTec Gmbh

13.7.1.               Business Overview

13.7.2.               Key Revenue and Financials

13.7.3.               Recent Developments

13.7.4.               Key Personnel

13.7.5.               Key Product/Services

13.8.     Siemens Energy AG

13.8.1.               Business Overview

13.8.2.               Key Revenue and Financials

13.8.3.               Recent Developments

13.8.4.               Key Personnel

13.8.5.               Key Product/Services

13.9.     Hitachi Zosen Inova AG

13.9.1.               Business Overview

13.9.2.               Key Revenue and Financials

13.9.3.               Recent Developments

13.9.4.               Key Personnel

13.9.5.               Key Product/Services

13.10.   AquahydreX Inc.

13.10.1.            Business Overview

13.10.2.            Key Revenue and Financials

13.10.3.            Recent Developments

13.10.4.            Key Personnel

13.10.5.            Key Product/Services

14. Strategic Recommendations

15. About Us & Disclaimer

Figures and Tables

Frequently asked questions

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The European region is poised to dominate the Global Power-to-Gas Market, propelled by substantial investments and government funding grants. These factors are instrumental in driving the market forward.

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Sempra Energy, GRT Gaz SA, MAN Energy Solutions, Sunfire GmbH, Ineratec GmbH, Electrochaea GmbH, MicroPyros BioEnerTec GmbH, Siemens Energy AG, Hitachi Zosen Inova AG, AquahydreX Inc. are the major market market players in the Global Power-to-Gas Market.

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The primary catalysts behind the Global Power-to-Gas Market are energy storage, grid balancing, and the integration of renewable energy sources.

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The primary challenges faced by the Global Power-to-Gas Market are efficiency and conversion losses. Additionally, power-to-gas technologies still remain relatively costly in comparison to conventional energy storage alternatives.

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Parvati Sharma

Account Manager BD
Press Release

Power-to-Gas Market is expected to Register an impressive CAGR in the Forecast Period

Oct, 2023

The Global Power-to-Gas Market is anticipated to witness growth during the forecast period of 2024-2028, driven by factors such as the integration of renewable energy, energy storage, and grid flexib