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Check with seller Power to Gas Market Applications, Technology, Types, Recent Trends,Growth Analysis,Forecasts 2027 Addison

Published date: April 6, 2021
  • Location: Sucre, Colombia, Addison, Alabama, United States

The growing demand for renewable sources of energy and increasing consumption of hydrogen in the transportation sector are driving the demand of the market. Market Size – USD 32.8 million in 2019, Market Growth - CAGR of 10.2%, Market Trends – Increasing adoption of electric vehicles. The Global Power to Gas Market size was valued at USD 32.8 Million in 2019 and is forecasted to reach USD 68.3 Million by 2027 at a CAGR of 10.2%. The market is mainly driven by the growing demand for renewable sources of energy. The ever increasing global population, coupled with the rapid urbanization, has increased the demand for electricity globally. The increasing demand for electricity and the growth in solar & wind energy generation is expected to drive the power to gas market. The market report, Power to Gas Market uses qualitative and quantitative research techniques to showcase competitive landscape for the forecast period, 2020 - 2027.Besides this, the report further blends in primary and secondary research techniques to assess, interpret, the segment as well as forecast the total revenue generated by the industry across various regions. Business owners/stakeholders can chalk-out expansion plan by leveraging statistics on market share, size, sale volume, growth rate and return over-invest discussed in the study. Read more@ https://www.emergenresearch.com/industry-report/power-to-gas-market Key Highlights From The Report In May 2019, ITM Power introduced a new business division named ITM Motive. The division was introduced to operate a portfolio of stations refueling hydrogen in UK. The ITM Motive will be responsible for managing the energy storage and will operate a network of eight hydrogen refueling stations that will be publicly accessible. The electrolysis segment is forecasted to grow with the fastest CAGR of 10.3% over the forecast period and accounted for the largest market share in 2019. The growing consumption of hydrogen in the transportation sector due to its higher efficiency and lower emission levels properties has resulted in the growth of the segment. The Industrial segment is expected to register significant growth over the forecast period due to their increasing initiatives of utilizing cleaner sources of energy in order to be energy efficient in the future. Europe region accounted for the largest market share of the Power to gas market in 2019 and is expected to be the fastest-growing region over the forecast period. The growth of the region is mainly due to the presence of the key market players like ITM Power, Siemens, McPhy Energy, and many others. Key participants include, ITM Power, Hydrogenics, Siemens, Nel Hydrogen, McPhy Energy, MAN Energy Solutions, Carbotech, SoCalGas, Uniper, and ThyssenKrupp, among others.


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