Power to Gas Market Size

Statistics for the 2023 & 2024 Power to Gas market size, created by Mordor Intelligence™ Industry Reports. Power to Gas size report includes a market forecast to 2029 and historical overview. Get a sample of this industry size analysis as a free report PDF download.

Market Size of Power to Gas Industry

Power to Gas Market - Market Summary
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


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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.

Power-to-Gas Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)