The drastic climate change owing to the increasing carbon dioxide emissions and other greenhouse gases have led to a significant transformation in the energy systems of different countries. Different targets have been put forward by countries to minimize their carbon dioxide emission. Most countries have been aiming to turn carbon neutral by 2050. To achieve the set target, different innovations are being made to upgrade the energy storage systems so as to be able to incorporate the renewable sources of energy, further accelerating the transition toward a carbon-neutral economy in a sustainable way. Photovoltaic panels and wind energy are considered to have high potential to generate electricity and transform the electrical system into an energy-efficient one.

Read Report Summary: https://bisresearch.com/industry-report/power-gas-market.html

However, the generation of electricity with the help of renewable sources of energy leads to a further need for storage or transmission to other forms of energy, which can be consumed. The inclusion of renewable sources of energy to develop a well-integrated energy system requires proper designing, planning, and implementation. Stringent regulations to curb greenhouse gas emissions and increasing promotion to use renewable sources of energy are some of the factors driving the growth of power-to-gas across different regions. However, high capital expenditure and infrastructural barriers are some of the factors that are restraining the growth of the power-to-gas market.

Considering the adoption of electrolysis technology since 2014, the technology in the power-to-gas market, in terms of capacity, is currently dominated by alkaline electrolysis, followed by polymer electrolyte membrane (PEM). The PEM technology is expected to show healthy growth once its cost gets reduced in the coming years due to massive-scale adoption. The cost reduction of electrolyzer technology is a crucial factor that decides upon the profit margin of the investors.

The catalytic methanation process has traditionally been the most used technology for the production of methane in the industrial process. However, in the case of intermittent operation and handling of impurities present in carbon dioxide, it is less likely to be a well-suited option. In this regard, the biological methanation process is a better option to get the desired result. Biological methanation is being used in the Audi demonstration plant in Germany, and BioCat plant in Denmark, among others.

Europe is currently the largest market in the power-to-gas market in terms of both capacity and the number of operational plants. The Europe power-to-gas market, in terms of value, is currently dominated by Germany, followed by Denmark. This potential growth is supported by an excessive industrial base, encouraging government policies, and financial support in research and development across entire Germany. Various government initiatives have been undertaken to promote the adoption and manufacturing of power-to-gas plant, as they may help in the reduction of greenhouse gas emissions, and the gaseous products thus obtained act as a potential substitute for natural gas. Additionally, expansive capacities for hydrogen and methane production alongside stringent government regulations against the carbon emissions have propelled the demand for efficient power-to-gas facilities.

For Sample Report, Click here: https://bisresearch.com/requestsample?id=823&type=download

The competitive landscape of the power-to-gas market consists of different strategies undertaken by major players across the entire value chain to gain market presence. Some of the strategies adopted by power-to-gas technology manufacturers and plant installers are product launches, mergers and acquisitions, partnerships, and collaborations. Among all the strategies adopted, partnerships, collaborations, and contracts have dominated the competitive landscape. Hydrogenics Corporation, ITM Power PLC, Nel ASA, and MAN Energy Solutions, are some of the leading players in the global power-to-gas market. To increase their overall global footprint, the technology manufacturers are expanding their businesses and are also entering into strategic partnerships to target a greater audience. EXYTRON GmbH, Hitachi Zosen Inova Ag, Hydrogenics Corporation, ITM Power PLC, and MAN Energy Solutions are some of the companies which have remained in the limelight since last few years due to their developments in the field of power-to-gas.

About BIS Research:

BIS Research is a global B2B market intelligence and advisory firm focusing on those emerging technological trends which are likely to disrupt the dynamics of the market.

With over 150 market research reports published annually, BIS Research focuses on high technology verticals such as 3D Printing, Advanced Materials and Chemicals, Aerospace and Defense, Automotive, Healthcare, Electronics and Semiconductors, Robotics and UAV, and other emerging technologies.

Our in-depth market intelligence reports focus on the market estimations, technology analysis, emerging high-growth applications, deeply segmented granular country-level market data, and other important market parameters useful in the strategic decision-making for senior management.

What distinguishes BIS Research from the rest of the players is that we don't simply provide data but also complement it with valuable insights and actionable inputs for the success of our clients.

Contact:
Bhavya Banga
Email: [email protected]
BIS Research Inc.
39111 PASEO PADRE PKWY STE 313,
FREMONT CA 94538-1686
Visit our Blog @ https://blog.bisresearch.com/
Connect with us on LinkedIn @ https://www.linkedin.com/company/bis-research
Connect with us on Twitter@ https://twitter.com/BISResearch