Market Size of Power to Gas Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | > 50.00 % |
| Fastest Growing Market | Europe |
| Largest Market | Europe |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Power to Gas Market Analysis
The Power-to-Gas market size is estimated at about USD 36.2 million by the end of this year, registering a CAGR of more than 50% during the forecast period.
COVID-19 negatively impacted the market in 2020. Presently, the market has reached pre-pandemic levels.
- Over the long term, the major driving factors of the market were increasing decarbonization to reduce the impact of greenhouse gases on the climate and reduction in the cost of electricity with the advent of renewable energy sources.
- On the flip side, high initial costs to set up power-to-gas plants and the need for additional transportation pipeline infrastructure in underdeveloped and developed economies for methane or hydrogen is expected to slow down the market growth.
- Increasing initiatives in developing the infrastructure of green hydrogen in the emerging markets are expected to create vital opportunities for the power-to-gas market players soon.
- Europe is expected to dominate the power to gas market, with most of the demand coming from countries like Germany, France, and Spain.
