Vancouver, BC -- (SBWire) -- 02/09/2021 --Power to Gas Market
Power-to-gas, also called P2G, is a technology that generates gaseous fuel using electrical power, majorly through the electrolysis process. A Power-to-gas system is an alternative to wind parks or solar-electric generation systems.
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Prominent Players Profiled in the Power to Gas Market:
ITM Power, Hydrogenics, Siemens, Nel Hydrogen, McPhy Energy, MAN Energy Solutions, Carbotech, SoCalGas, Uniper, and ThyssenKrupp, among others.
Market Drivers
Global energy demand has led to the innovation of new sources of energy. Power-to-gas technology is an alternative source for fuel generation. It also helps in reducing the environmental emission of gases. This prominent factor is estimated to drive the global power-to-gas market. Power-to-gas can be deployed into a specific regional or nation-wide energy system to stabilize the grid to mitigate the effects of excess electricity caused by a substantial share of fluctuating sources (generally, renewables) and improve the security of energy supplies. These advantages are estimated to drive consumer preference for this technology, thereby fuelling the power-to-gas market.
Technology Outlook (Revenue, USD Million; 2017-2027)
Methanation (Power-to- methane)
Electrolysis (Power-to- Hydrogen)
End-user Outlook (Revenue, USD Million; 2017-2027)
Utilities
Commercial
Industrial
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Overview of the TOC of the Report:
Introduction, Scope, and Overview
Opportunities, Risks, and Drivers
Competition landscape analysis with sales, revenue, and price
Extensive Profiling of the key competitors with the sales figures, revenue, and market share
Regional analysis with sales, revenue, and market share for each region for the forecast period
Country-wise analysis of the Power to Gas market by type, application, and manufacturers
Market Segmentation based on types
Market segmentation based on applications
Historical and forecast estimation and other chapters.
Regional Landscape
Europe is estimated to hold the largest share of the global power-to-gas market over the forecast period. Power-to-gas technology is estimated to play a major role in stabilizing the region's energy supply. North America is an important region of the global power-to-gas market. Demand for power-to-gas in the region is fuelled by the increase in demand for hydrogen for commercial applications.
The Asia Pacific is expected to be a major potential region of the global power-to-gas market over the forecast period. A rise in the number of mid-scale and small industries in the region and urbanization are expected to be major drivers of the market in this region.
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Power to Gas Market Statistics, Business Opportunities, Competitive Landscape and Industry Analysis Report by 2027
The growing demand for renewable sources of energy and increasing consumption of hydrogen in the transportation sector are driving the demand of the market.