Power-to-Gas Market is Expected to Grow up to US$ 84.4 Billion by 2031 | Uniper SE, Nel ASA, ENTSOG

The global power-to-gas market was valued at US$ 30.3 billion in 2021 and it is anticipated to grow up to US$ 84.4 billion by 2031, at a CAGR of 10.8% during the forecast period.

Download Free Sample of Report - https://www.globalinsightservices.com/request-sample/GIS10406

Power-to-gas is a technology that converts electrical energy into methane or hydrogen syngas (synthetic gas). The hydrogen turning out in the power-to-gas industry 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 operations. These systems are stored for transportation, heat supply, and industrial purposes. The work of the power-to-gas industry is a constructive step in combining renewable resources with power generation sources. Further, the converted hydrogen and methane can be converted back into electricity, as they can be used as a backup power source.

Read more about Power-to-Gas Market here: https://www.globalinsightservices.com/reports/power-to-gas-market/

Market Drivers and Trends

The power-to-gas technology offers several benefits over current energy storage technologies, including longer discharge times and higher power storage capacity. Hydrogen can also be injected directly into natural gas grids. However, due to safety and technical concerns, hydrogen injection is subject to regulations and varies from country to country.

Secondly, due to the falling costs of renewable energy technologies, including solar and wind, energy storage technologies such as power-to-gas technology are becoming increasingly attractive. The installed capacity of commercial electrolyzer systems has been increasing steadily over the past few years. There are only a few commercially viable water electrolysis technologies, and the two most widely used technologies are alkaline water electrolysis and proton exchange membrane electrolysis.

Thus, due to several benefits of power-to-gas technology boosts the market growth.

Get Customized Report as Per Your Requirement - https://www.globalinsightservices.com/request-customization/GIS10406

Global Power-to-Gas Market Segmentation

By Technology

Electrolysis
Methanation

By Capacity

Less than 100 kW
100-999 kW
1000 kW and Above

By Application

Residential
Commercial
Utility

By Region

North America
The U.S.
Canada
Mexico
Europe
UK
Germany
France
Spain
Rest of Europe
Asia Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
Rest of the World
Latin America
Middle East
Africa

Purchase This Market Research Report - https://www.globalinsightservices.com/checkout/single_user/GIS10406

Major Players in the Global Power-to-Gas Market

The key players studied in the global power-to-gas market are Electrochaea GmbH (Germany), ENTSOG (Belgium), EXYTRON GmbH (Germany), ITM Power PLC (UK), MAN Energy Solutions (Germany), McPhy Energy S.A. (France), Nel ASA (Norway), Siemens AG (Germany), thyssenkrupp AG (Germany), and Uniper SE (Germany).

With Global Insight Services, you receive:

10-year forecast to help you make strategic decisions
In-depth segmentation which can be customized as per your requirements
Free consultation with lead analyst of the report
Excel data pack included with all report purchases
Robust and transparent research methodology

Groundbreaking research and market player-centric solutions for the upcoming decade according to the present market scenario

New Report Published by Global Insight Services: https://www.globalinsightservices.com/reports/hydrogen-projects-database/

Contact Us:

Global Insight Services LLC
16192, Coastal Highway, Lewes DE 19958
E-mail: info@globalinsightservices.com
Phone: +1-833-761-1700
Website: https://www.globalinsightservices.com/

About Global Insight Services:

Global Insight Services (GIS) is a leading multi-industry market research firm headquartered in Delaware, US. We are committed to providing our clients with the highest quality data, analysis, and tools to meet all their market research needs. With GIS, you can be assured of the quality of the deliverables, robust & transparent research methodology, and superior service.