Power to Gas Market by End-user and Geography - Forecast and Analysis 2022-2026

Published: Mar 2022

Pages: 121

SKU: IRTNTR72996

Snapshot

“The Power to Gas Market is poised to grow by USD 22.13 million during 2022-2026, accelerating at a CAGR of 10.14% during the forecast period”

Technavio market report provides a holistic analysis, market size and forecast, trends, growth drivers, challenges, and vendor analysis covering around 15 vendors. Furthermore, this report extensively covers power to gas market segmentation by end-user (power to hydrogen and power to methane) and geography (Europe, North America, APAC, South America, and Middle East and Africa). The market report also offers information on several market vendors, including AEG Power Solutions BV, E.ON SE, Electrochaea GmbH, ENGIE SA, ENTSOG AISBL, EXYTRON GmbH, Hitachi Zosen Inova AG, INERATEC, ITM Power Plc, MAN Energy Solutions SE, McPhy Energy SA, MicroPyros BioEnerTec GmbH, Nel ASA, Power-to-Gas Hungary Kft., Siemens AG, Solarplaza, Sunfire GmbH, thyssenkrupp AG, Uniper SE, and ZSW among others.

What will the Power to Gas Market Size be During the Forecast Period?

Download Report Sample to Unlock the Power to Gas Market Size for the Forecast Period and Other Important Statistics

Parent Market Analysis

Our Technavio Research categorizes the report belonging to Capital Goods Industry for the market. Technavio is based on four simple principles: easy-to-access reports, robust industry coverage, a focus on new and emerging technologies, and competitive pricing. We believe in helping companies and executives become better equipped to make faster, sounder, and more effective decisions.

Power To Gas Market: Key Drivers, Trends, and Challenges

Technavio Research categorizes the global Power to Gas Market belonging to the Electrical Equipment Industry. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic's impact on the industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the forecast year.

The market is extremely competitive with all sizes of businesses, including large, medium, and small-sized companies vying to monopolize the market. The tremendous development in various fields such as product innovations and new product launches by manufacturers operating in the market will drive the growth further.

Key Power to Gas Market Driver

One of the key factors driving the global power to gas industry growth is the increase in the supply of natural gas. According to the IEA, natural gas consumption is expected to increase from 3,630 bcm in 2016 to 4,000 cm by 2022. Moreover, according to IEA, by 2022, the US will produce 890 bcm or 22% of the global natural gas production.
While the Middle East is expected to add 70 bcm to global natural gas production by 2022. In order to explore this potential, Russia has been working on increasing its E and P activities through projects, such as the Yamal liquefied natural gas (LNG), with a production capacity of 16.5 million metric tons per annum. These factors will propel the growth of the global power to gas market during the forecast period.

Key Power to Gas Market Trend

An increase in the number of CNG vehicles is one of the key power to gas market trends that is expected to impact the industry positively in the forecast period.
Favourable government regulations coupled with CNG infrastructure development have increased consumer acceptance and cost competitiveness of these vehicles. With the need for sustainable and eco-friendly mobility solutions, the share of CNG vehicles in India is expected to grow by 233.33% by 2024-2025 as compared to 2018, with the development of additional 5,000 CNG filling stations.
Also, the recent extension of the campaign, with the biomethane producer VERBIO, automotive supplier MAHLE, grid operator EWE NETZ, and lightweight alloy component manufacturer, Hexagon xperion, is joining the industrial consortium for CNG Mobility, which is providing a new impetus to the market. Simultaneously, the number of CNG filling stations is expected to increase to 2000 by 2025, which will further support the market growth in the coming years.

Key Power to Gas Market Challenge

One of the key challenges to the global power to gas industry growth is the volatility in natural gas prices.
The fluctuations in the prices of natural gas have vaguely been following a trend, which is called the crude oil price cycle. After the global financial meltdown in 2009, LNG import prices grew significantly. However, a few years later, the prices plummeted due to weak global economic factors.
The reliance on natural gas is continuously increasing with the rapid shift to the preference and adoption of gas as a fuel. Currently, with low natural gas prices, the prospects of using natural gas as a fuel are expected to increase in the forecast period. However, with time, this dependence on natural gas will lead to an increase in its prices owing to the growing demand, which will hamper the growth potential of the market.

Who are the Major Power To Gas Market Vendors?

The vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading market vendors such as

Market Overview

The global heavy electrical equipment market is an important manufacturing market that caters to the needs of the energy sector and other industrial sectors such as power, mining, and oil and gas. The parent, global heavy electrical equipment market covers products and companies engaged in the manufacturing of equipment for the generation, distribution, and transmission of power for fixed-use and large electrical systems. Technavio calculates the size of the global electrical equipment market based on the combined revenue generated by manufacturers of electrical components and equipment such as electric cables, wires, other components, and heavy electrical equipment.

Power To Gas Market Value Chain Analysis

In this report, we provide extensive information on the value chain analysis for the market. Our data covers all key stages of a market flow and provides a complete understanding of all aspects of the market logistics value chain. This includes an end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies.

Which are the Key Regions for Power To Gas Market?

43% of the market’s growth will originate from Europe during the forecast period. Germany and France are the key markets for power to gas in Europe. Market growth in this region will be faster than the growth of the market in South America, North America, and the MEA.

In Europe, the UK, Germany, France, and Italy are the major contributors in the power to gas market. The Organization for Economic Co-operation and Development (OECD) and non-OECD countries do not face major power outages owing to the high grid reliability in these countries. There is significant demand for high-power supply solutions in the automotive and energy industries in the region. The availability of natural gas reserves in some parts of Europe is an important reason contributing to the growth of power to gas market in this region. So far, the region has seen robust growth in investments in the upstream sector. This is one of the main reasons for Europe being the primary energy and power market, which generates a tremendous demand for power to gas technology.

What are the Revenue-generating End-user Segments in the Power To Gas Market?

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The power to gas market share growth by the power to hydrogen segment will be significant during the forecast period. Most power to gas technology use electrolysis to produce hydrogen, which can be used directly, or further steps may convert it into syngas, methane, or liquefied petroleum gas (LPG). All current power to gas technology start by using electricity to split water into hydrogen and oxygen by means of electrolysis. In power to hydrogen system, the resulting hydrogen is injected into the natural gas grid or is used in transport rather than being used to produce another type of gas. The core of the system is a proton exchange membrane (PEM) electrolysis. An electrolyzer converts electrical energy into chemical energy, which, in turn, eases the storage of electricity.

The report provides a near-term to long-term perspective on the trends and forecasts horizon for the market. It offers an overview of the key market drivers and restraints, enabling precise identification of key regional opportunities over the coming years.

Power To Gas Market Scope
Report Coverage	Details
Page number	120
Base year	2021
Forecast period	2022-2026
Growth momentum & CAGR	Accelerate at a CAGR of 10.14%
Market growth 2022-2026	$ 22.13 million
Market structure	Fragmented
YoY growth (%)	10.01
Regional analysis	Europe, North America, APAC, South America, and Middle East and Africa
Performing market contribution	Europe at 43%
Key consumer countries	US, China, Japan, Germany, and France
Competitive landscape	Leading companies, Competitive Strategies, Consumer engagement scope
Key companies profiled	AEG Power Solutions BV, E.ON SE, Electrochaea GmbH, ENGIE SA, ENTSOG AISBL, EXYTRON GmbH, Hitachi Zosen Inova AG, INERATEC, ITM Power Plc, MAN Energy Solutions SE, McPhy Energy SA, MicroPyros BioEnerTec GmbH, Nel ASA, Power-to-Gas Hungary Kft., Siemens AG, Solarplaza, Sunfire GmbH, thyssenkrupp AG, Uniper SE, and ZSW
Market dynamics	Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period
Customization purview	If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Power To Gas Market Report?

CAGR of the market during the forecast period 2022-2026
Detailed information on factors that will drive the growth during the next five years
Precise estimation of the size and its contribution to the parent market
Accurate predictions on upcoming trends and changes in consumer behaviour
The growth of the industry across Europe, North America, APAC, South America, and Middle East and Africa
A thorough analysis of the market’s competitive landscape and detailed information on vendors
Comprehensive details of factors that will challenge the growth of power to gas market vendors

We can help! Our analysts can customize this report to meet your requirements. Get in touch

Table of Contents

1 Executive Summary

1.1 Market overview
- Exhibit 01: Executive Summary – Chart on Market Overview
- Exhibit 02: Executive Summary – Data Table on Market Overview
- Exhibit 03: Executive Summary – Chart on Global Market Characteristics
- Exhibit 04: Executive Summary – Chart on Market by Geography
- Exhibit 05: Executive Summary – Chart on Market Segmentation by End-user
- Exhibit 06: Executive Summary – Chart on Incremental Growth
- Exhibit 07: Executive Summary – Data Table on Incremental Growth
- Exhibit 08: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

2.1 Market ecosystem
- Exhibit 09: Parent market
- Exhibit 10: Market Characteristics

3 Market Sizing

3.1 Market definition
- Exhibit 11: Offerings of vendors included in the market definition

3.2 Market segment analysis
- Exhibit 12: Market segments

3.3 Market size 2021

3.4 Market outlook: Forecast for 2021-2026
- Exhibit 13: Chart on Global - Market size and forecast 2021-2026 ($ million)
- Exhibit 14: Data Table on Global - Market size and forecast 2021-2026 ($ million)
- Exhibit 15: Chart on Global Market: Year-over-year growth 2021-2026 (%)
- Exhibit 16: Data Table on Global Market: Year-over-year growth 2021-2026 (%)

4 Five Forces Analysis

4.1 Five forces summary
- Exhibit 17: Five forces analysis - Comparison between2021 and 2026

4.2 Bargaining power of buyers
- Exhibit 18: Chart on Bargaining power of buyers – Impact of key factors 2021 and 2026

4.3 Bargaining power of suppliers
- Exhibit 19: Bargaining power of suppliers – Impact of key factors in 2021 and 2026

4.4 Threat of new entrants
- Exhibit 20: Threat of new entrants – Impact of key factors in 2021 and 2026

4.5 Threat of substitutes
- Exhibit 21: Threat of substitutes – Impact of key factors in 2021 and 2026

4.6 Threat of rivalry
- Exhibit 22: Threat of rivalry – Impact of key factors in 2021 and 2026

4.7 Market condition
- Exhibit 23: Chart on Market condition - Five forces 2021 and 2026

5 Market Segmentation by End-user

5.1 Market segments
- Exhibit 24: Chart on End-user - Market share 2021-2026 (%)
- Exhibit 25: Data Table on End-user - Market share 2021-2026 (%)

5.2 Comparison by End-user
- Exhibit 26: Chart on Comparison by End-user
- Exhibit 27: Data Table on Comparison by End-user

5.3 Power to hydrogen - Market size and forecast 2021-2026
- Exhibit 28: Chart on Power to hydrogen - Market size and forecast 2021-2026 ($ million)
- Exhibit 29: Data Table on Power to hydrogen - Market size and forecast 2021-2026 ($ million)
- Exhibit 30: Chart on Power to hydrogen - Year-over-year growth 2021-2026 (%)
- Exhibit 31: Data Table on Power to hydrogen - Year-over-year growth 2021-2026 (%)

5.4 Power to methane - Market size and forecast 2021-2026
- Exhibit 32: Chart on Power to methane - Market size and forecast 2021-2026 ($ million)
- Exhibit 33: Data Table on Power to methane - Market size and forecast 2021-2026 ($ million)
- Exhibit 34: Chart on Power to methane - Year-over-year growth 2021-2026 (%)
- Exhibit 35: Data Table on Power to methane - Year-over-year growth 2021-2026 (%)

5.5 Market opportunity by End-user
- Exhibit 36: Market opportunity by End-user ($ million)

6 Customer Landscape

6.1 Customer landscape overview
- Exhibit 37: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

7 Geographic Landscape

7.1 Geographic segmentation
- Exhibit 38: Chart on Market share by geography 2021-2026 (%)
- Exhibit 39: Data Table on Market share by geography 2021-2026 (%)

7.2 Geographic comparison
- Exhibit 40: Chart on Geographic comparison
- Exhibit 41: Data Table on Geographic comparison

7.3 Europe - Market size and forecast 2021-2026
- Exhibit 42: Chart on Europe - Market size and forecast 2021-2026 ($ million)
- Exhibit 43: Data Table on Europe - Market size and forecast 2021-2026 ($ million)
- Exhibit 44: Chart on Europe - Year-over-year growth 2021-2026 (%)
- Exhibit 45: Data Table on Europe - Year-over-year growth 2021-2026 (%)

7.4 North America - Market size and forecast 2021-2026
- Exhibit 46: Chart on North America - Market size and forecast 2021-2026 ($ million)
- Exhibit 47: Data Table on North America - Market size and forecast 2021-2026 ($ million)
- Exhibit 48: Chart on North America - Year-over-year growth 2021-2026 (%)
- Exhibit 49: Data Table on North America - Year-over-year growth 2021-2026 (%)

7.5 APAC - Market size and forecast 2021-2026
- Exhibit 50: Chart on APAC - Market size and forecast 2021-2026 ($ million)
- Exhibit 51: Data Table on APAC - Market size and forecast 2021-2026 ($ million)
- Exhibit 52: Chart on APAC - Year-over-year growth 2021-2026 (%)
- Exhibit 53: Data Table on APAC - Year-over-year growth 2021-2026 (%)

7.6 South America - Market size and forecast 2021-2026
- Exhibit 54: Chart on South America - Market size and forecast 2021-2026 ($ million)
- Exhibit 55: Data Table on South America - Market size and forecast 2021-2026 ($ million)
- Exhibit 56: Chart on South America - Year-over-year growth 2021-2026 (%)
- Exhibit 57: Data Table on South America - Year-over-year growth 2021-2026 (%)

7.7 Middle East and Africa - Market size and forecast 2021-2026
- Exhibit 58: Chart on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
- Exhibit 59: Data Table on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
- Exhibit 60: Chart on Middle East and Africa - Year-over-year growth 2021-2026 (%)
- Exhibit 61: Data Table on Middle East and Africa - Year-over-year growth 2021-2026 (%)

7.8 US - Market size and forecast 2021-2026
- Exhibit 62: Chart on US - Market size and forecast 2021-2026 ($ million)
- Exhibit 63: Data Table on US - Market size and forecast 2021-2026 ($ million)
- Exhibit 64: Chart on US - Year-over-year growth 2021-2026 (%)
- Exhibit 65: Data Table on US - Year-over-year growth 2021-2026 (%)

7.9 Germany - Market size and forecast 2021-2026
- Exhibit 66: Chart on Germany - Market size and forecast 2021-2026 ($ million)
- Exhibit 67: Data Table on Germany - Market size and forecast 2021-2026 ($ million)
- Exhibit 68: Chart on Germany - Year-over-year growth 2021-2026 (%)
- Exhibit 69: Data Table on Germany - Year-over-year growth 2021-2026 (%)

7.10 China - Market size and forecast 2021-2026
- Exhibit 70: Chart on China - Market size and forecast 2021-2026 ($ million)
- Exhibit 71: Data Table on China - Market size and forecast 2021-2026 ($ million)
- Exhibit 72: Chart on China - Year-over-year growth 2021-2026 (%)
- Exhibit 73: Data Table on China - Year-over-year growth 2021-2026 (%)

7.11 France - Market size and forecast 2021-2026
- Exhibit 74: Chart on France - Market size and forecast 2021-2026 ($ million)
- Exhibit 75: Data Table on France - Market size and forecast 2021-2026 ($ million)
- Exhibit 76: Chart on France - Year-over-year growth 2021-2026 (%)
- Exhibit 77: Data Table on France - Year-over-year growth 2021-2026 (%)

7.12 Japan - Market size and forecast 2021-2026
- Exhibit 78: Chart on Japan - Market size and forecast 2021-2026 ($ million)
- Exhibit 79: Data Table on Japan - Market size and forecast 2021-2026 ($ million)
- Exhibit 80: Chart on Japan - Year-over-year growth 2021-2026 (%)
- Exhibit 81: Data Table on Japan - Year-over-year growth 2021-2026 (%)

7.13 Market opportunity by geography
- Exhibit 82: Market opportunity by geography ($ million)

8 Drivers, Challenges, and Trends

8.1 Market drivers

8.2 Market challenges

8.3 Impact of drivers and challenges
- Exhibit 83: Impact of drivers and challenges in 2021 and 2026

8.4 Market trends

9 Vendor Landscape

9.1 Overview

9.2 Vendor landscape
- Exhibit 84: Overview on Criticality of inputs and Factors of differentiation

9.3 Landscape disruption
- Exhibit 85: Overview on factors of disruption

9.4 Industry risks
- Exhibit 86: Impact of key risks on business

10 Vendor Analysis

10.1 Vendors covered
- Exhibit 87: Vendors covered

10.2 Market positioning of vendors
- Exhibit 88: Matrix on vendor position and classification

10.3 Electrochaea GmbH
- Exhibit 89: Electrochaea GmbH - Overview
- Exhibit 90: Electrochaea GmbH - Product / Service
- Exhibit 91: Electrochaea GmbH - Key offerings

10.4 EXYTRON GmbH
- Exhibit 92: EXYTRON GmbH - Overview
- Exhibit 93: EXYTRON GmbH - Product / Service
- Exhibit 94: EXYTRON GmbH - Key offerings

10.5 Hitachi Zosen Inova AG
- Exhibit 95: Hitachi Zosen Inova AG - Overview
- Exhibit 96: Hitachi Zosen Inova AG - Product / Service
- Exhibit 97: Hitachi Zosen Inova AG - Key offerings

10.6 ITM Power Plc
- Exhibit 98: ITM Power Plc - Overview
- Exhibit 99: ITM Power Plc - Product / Service
- Exhibit 100: ITM Power Plc - Key offerings

10.7 MAN Energy Solutions SE
- Exhibit 101: MAN Energy Solutions SE - Overview
- Exhibit 102: MAN Energy Solutions SE - Product / Service
- Exhibit 103: MAN Energy Solutions SE - Key offerings

10.8 McPhy Energy SA
- Exhibit 104: McPhy Energy SA - Overview
- Exhibit 105: McPhy Energy SA - Business segments
- Exhibit 106: McPhy Energy SA - Key offerings
- Exhibit 107: McPhy Energy SA - Segment focus

10.9 Nel ASA
- Exhibit 108: Nel ASA - Overview
- Exhibit 109: Nel ASA - Business segments
- Exhibit 110: Nel ASA - Key offerings
- Exhibit 111: Nel ASA - Segment focus

10.10 Siemens AG
- Exhibit 112: Siemens AG - Overview
- Exhibit 113: Siemens AG - Business segments
- Exhibit 114: Siemens AG - Key news
- Exhibit 115: Siemens AG - Key offerings
- Exhibit 116: Siemens AG - Segment focus

10.11 thyssenkrupp AG
- Exhibit 117: thyssenkrupp AG - Overview
- Exhibit 118: thyssenkrupp AG - Business segments
- Exhibit 119: thyssenkrupp AG - Key news
- Exhibit 120: thyssenkrupp AG - Key offerings
- Exhibit 121: thyssenkrupp AG - Segment focus

10.12 Uniper SE
- Exhibit 122: Uniper SE - Overview
- Exhibit 123: Uniper SE - Business segments
- Exhibit 124: Uniper SE - Key offerings
- Exhibit 125: Uniper SE - Segment focus

11 Appendix

11.1 Scope of the report

11.2 Inclusions and exclusions checklist
- Exhibit 126: Inclusions checklist
- Exhibit 127: Exclusions checklist

11.3 Currency conversion rates for US$
- Exhibit 128: Currency conversion rates for US$

11.4 Research methodology
- Exhibit 129: Research methodology
- Exhibit 130: Validation techniques employed for market sizing
- Exhibit 131: Information sources

11.5 List of abbreviations
- Exhibit 132: List of abbreviations

Methodology

Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

INFORMATION SOURCES

Primary sources

Manufacturers and suppliers
Channel partners
Industry experts
Strategic decision makers

Secondary sources

Industry journals and periodicals
Government data
Financial reports of key industry players
Historical data
Press releases

DATA ANALYSIS

Data Synthesis

Collation of data
Estimation of key figures
Analysis of derived insights

Data Validation

Triangulation with data models
Reference against proprietary databases
Corroboration with industry experts

REPORT WRITING

Qualitative

Market drivers
Market challenges
Market trends
Five forces analysis

Quantitative

Market size and forecast
Market segmentation
Geographical insights
Competitive landscape

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Key Questions Answered

What are the key global market and the regional market share?
What are the revenue-generating key market segments?
What are the key factors driving and challenging this market’s growth?
Who are the key market vendors and their growth strategies?
What are the latest trends influencing the growth of this market?
What are the variables influencing the market growth in the primary regions?
What are the factors influencing the growth of the parent market?

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