Europe Power to Gas Market to Grow at a Formidable Rate During Forecast Periodby Mack Nene SEO | Digital Marketing
Rising concerns related to carbon emissions along with effective utilization of renewable energy resources to drive the growth of Europe power to gas market
According to Tech Sci Research report, “Europe Power to Gas Market By Technology (Electrolysis, Methanation), By Capacity (Less than 100 kW, 100–999 kW, 1000 kW and Above), By End User Industry (Commercial, Utilities, Industrial), By Country, Competition, Forecast & Opportunities, 2026”, the Europe power to gas market is expected to witness a growing formidable growth during the forecast period. The growth can be attributed to rising number of power-to-gas projects in the countries such as Denmark, Germany, Netherlands and France for effective utilization of renewable energy sources, primarily the wind energy. Furthermore, power-to-gas market is at rising stage of development with major demonstration plants in operation or under development across the region, which is anticipated to give a healthy push to Europe power to gas market in the coming years.
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" Europe Power to Gas Market"
In terms of capacity, the Europe power to gas market is fragmented into less than 100 kW, 100–999 kW, 1000 kW and above. Among them, the 1000 kW and above segment is expected to register highest growth during the forecast period as it is highly preferred owing to expanding commercialization and implementation of several MW size projects of power to gas technologies. Additionally, surging demand for hydrogen for new vehicle technologies like fuel cell-based transportation and to produce electricity are further boosting the segment growth. In terms of end user industry, the market is segmented into commercial, utilities and industrial. The utilities segment dominated the market until 2019 and is estimated to maintain its lead over the next 5 years as well. The power and gas utilities are aiming to effectively produce hydrogen by integrating intermittent renewable power sources and have the flexibility of power system operations.
ITM Power, McPhy Energy SA, Siemens AG, MAN Energy Solutions, Nel ASA, Thyssenkrupp AG, Electrochaea GmbH, EXYTRON GmbH, Greenhydrogen.DK ApS, Hydrogenics Corporation etc. are some of the leading players operating in Europe power to gas market.
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“The Europe power to gas market is anticipated to grow at a rapid pace. The power-to-gas technology is likely to play a considerable role in alleviating the energy supply in the region and offsetting fluctuating power generation from renewable energy sources. Moreover, some of the European countries such as Germany, Russia, United Kingdom etc., have seen a surging demand for power to gas technology on account of increasing requirement for hydrogen from industrial, chemical, and fuel cell transportation demand, thereby fueling the market growth in the region.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Europe Power to Gas Market By Technology (Electrolysis, Methanation), By Capacity (Less than 100 kW, 100–999 kW, 1000 kW and Above), By End User Industry (Commercial, Utilities, Industrial), By Country, Competition, Forecast & Opportunities, 2026” has evaluated the future growth potential of Europe power to gas market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in Europe power to gas market.
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Created on Apr 26th 2021 08:13. Viewed 88 times.