세계의 P2G(Power-to-Gas) 시장 예측 : 기술별, 용도별, 최종 사용자별, 지역별 분석(-2030년)

According to Stratistics MRC, the Global Power-to-Gas Market is accounted for $39.75 billion in 2024 and is expected to reach $90.05 billion by 2030 growing at a CAGR of 14.6% during the forecast period. Power-to-Gas (PtG) is an innovative technology that converts surplus electrical energy, primarily from renewable sources like wind and solar, into gaseous fuels, typically hydrogen or methane. This process addresses the intermittency of renewable energy generation by storing excess power for later use. In PtG, electricity is used to electrolyze water, splitting it into hydrogen and oxygen. The hydrogen can be stored or further processed with carbon dioxide (captured from the atmosphere or industrial sources) to produce synthetic methane through a process called methanation. This synthetic gas can be injected into existing natural gas grids, utilized in fuel cells, or used for heating.

According to the International Energy Agency, electrolyze stacks represent between 50 and 60 percent of the capital investment. The remaining 40 to 50 percent of the investment is made up of components for the plant, power electronics, and gas conditioning.

Market Dynamics:

Driver:

Increasing awareness of climate change

The increasing awareness of climate change is significantly boosting the Power-to-Gas (P2G) technology, which converts excess renewable energy into hydrogen or synthetic natural gas. As nations strive to reduce greenhouse gas emissions, P2G offers a viable solution to harness surplus electricity generated from wind and solar power. This process not only addresses the intermittency of renewable energy but also provides a means to store and transport energy efficiently. Furthermore, by producing hydrogen, P2G enables the decarbonization of various sectors, including transportation and industrial processes, which are traditionally reliant on fossil fuels.

Restraint:

Integration challenges

Power-to-Gas (P2G) technology, which converts surplus renewable energy into hydrogen or synthetic natural gas, faces significant integration challenges that hinder its widespread adoption. One primary issue is the intermittent nature of renewable energy sources like wind and solar, which can lead to inconsistent hydrogen production. Existing energy infrastructure, including pipelines and storage facilities, is often not optimized for hydrogen transport and storage, requiring costly upgrades. The lack of regulatory frameworks and market structures that support P2G systems further complicates integration, as stakeholders may be unsure about investment returns.

Opportunity:

Hydrogen economy development

The hydrogen economy is significantly advancing the Power-to-Gas (P2G) technology, which converts excess electricity-often generated from renewable sources like wind and solar-into hydrogen through electrolysis. This process allows for the storage and transportation of renewable energy, effectively addressing the intermittency issues associated with renewable power generation. By producing hydrogen, P2G can facilitate the integration of renewables into the energy grid, providing a clean fuel alternative for various applications, including transportation, heating, and industrial processes. Moreover, hydrogen can be converted back into electricity or utilized in fuel cells, enhancing energy efficiency and reducing greenhouse gas emissions.

Threat:

Initial investment for P2G technology

Power-to-Gas (P2G) technology, which converts excess renewable energy into hydrogen or methane for storage and later use, faces significant hurdles due to high initial investment costs. The infrastructure required for P2G systems-such as electrolysis units, gas storage facilities, and integration with existing gas networks-demands substantial capital outlay. This financial barrier discourages investors and utilities, particularly in a market where cheaper energy solutions are prevalent. The long payback periods associated with P2G projects make them less attractive compared to traditional energy investments. While P2G has the potential to enhance energy security and support decarbonization efforts, its adoption is stymied by the economic uncertainties surrounding initial costs and the need for government incentives or policy support to foster development.

Covid-19 Impact:

The COVID-19 pandemic significantly impacted the Power-to-Gas (PtG) sector, highlighting both vulnerabilities and opportunities within the energy landscape. Initially, lockdowns and reduced industrial activity led to a decline in energy demand, disrupting the operational stability of PtG projects that rely on consistent electricity supply. Supply chain interruptions affected the availability of critical components for electrolyzers and other technologies essential for hydrogen production. However, the crisis also accelerated interest in sustainable energy solutions, as governments and industries sought to bolster resilience against future disruptions.

The Electrolysis segment is expected to be the largest during the forecast period

Electrolysis segment is expected to dominate the largest share over the estimated period. During electrolysis, electricity is used to split water molecules into hydrogen and oxygen, generating hydrogen that can be stored or utilized as an energy carrier. This is particularly beneficial in integrating renewable energy sources like wind and solar, which often produce more energy than the grid can handle. By converting excess electricity into hydrogen, P2G helps balance supply and demand, ensuring a more stable energy system. The hydrogen produced can be used directly as a fuel, injected into natural gas networks, or converted into synthetic methane through further chemical processes. This not only facilitates energy storage but also contributes to decarbonizing the gas supply and transportation sectors, thus promoting a more sustainable and resilient energy future.

The Steel Industry segment is expected to have the highest CAGR during the forecast period

Steel Industry segment is estimated to grow at a rapid pace during the forecast period as a sustainable solution to reduce carbon emissions and enhance energy efficiency. PtG involves converting surplus renewable energy, often generated from wind or solar sources, into hydrogen through electrolysis. This hydrogen can then be used in steel production, replacing traditional carbon-intensive methods that rely on coke. By integrating PtG, steelmakers can significantly lower their carbon footprint, as hydrogen serves as a cleaner alternative to fossil fuels. Additionally, the flexibility of PtG allows for the storage of excess renewable energy, addressing intermittency issues in energy supply. As global demand for green steel rises, the integration of PtG not only aligns with environmental regulations and corporate sustainability goals but also positions steel companies to remain competitive in a rapidly evolving market.

Region with largest share:

North America region is poised to hold the largest share of the market throughout the extrapolated period. Integration with carbon markets is substantially enhancing the Power-to-Gas (P2G) sector in North America by providing a financial mechanism to support the development and deployment of green hydrogen technologies. By linking these systems to carbon markets, developers can monetize carbon credits for the greenhouse gas emissions they mitigate, creating a compelling economic incentive. This integration encourages investment in renewable energy projects and infrastructure, driving down costs and increasing the scalability of hydrogen production.

Region with highest CAGR:

Europe region is estimated to witness the highest CAGR during the projected time frame. By establishing clear frameworks and incentives, regulations promote investment in PtG technologies, which convert excess renewable electricity into hydrogen or synthetic natural gas. This process not only aids in energy storage and balancing the grid but also facilitates the decarbonization of various sectors, including transportation and heating. European policies, such as the Green Deal and Fit for 55, aim to reduce greenhouse gas emissions and promote hydrogen as a key energy carrier.

Key players in the market

Some of the key players in Power-to-Gas market include Avacon AG, Cummins Inc, Fortescue Metals Group, FuelCell Energy Inc, Hitachi Zosen Inova AG, MAN Energy Solutions, Siemens Energy AG, Sunfire GmbH and Thyssenkrupp AG.

Key Developments:

In November 2023, Nature Energy and Andel inaugurated a new power-to-gas facility in Denmark, following a partnership established in autumn 2022. The two companies have invested in a biological Power-to-X plant located in Glansager on Als, which is now ready for production. Once fully operational, the plant will produce hydrogen that will enhance Nature Energy's green gas output by 12,000 m3 per day.

In June 2022, the U.S. Department of Energy invested US$ 504.4 million in finance Advanced Clean Energy Storage, a clean energy and clean hydrogen storage facility that can provide long-term energy storage.

In February 2022, Mitsubishi Power and HydrogenPro have a purchase agreement in place for a substantial electrolyzer system. Through electrolysis, the HydrogenPro electrolyzer system will create green hydrogen and oxygen using wind and solar energy.

Technologies Covered:

• Electrolysis
• Methanation

Applications Covered:

• Residential
• Commercial
• Industrial

End Users Covered:

• Transportation
• Chemical Production
• Steel Industry
• Other End Users

Regions Covered:

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • Italy
  • France
  • Spain
  • Rest of Europe
• Asia Pacific
  • Japan
  • China
  • India
  • Australia
  • New Zealand
  • South Korea
  • Rest of Asia Pacific
• South America
  • Argentina
  • Brazil
  • Chile
  • Rest of South America
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • Qatar
  • South Africa
  • Rest of Middle East & Africa

What our report offers:

• Market share assessments for the regional and country-level segments
• Strategic recommendations for the new entrants
• Covers Market data for the years 2022, 2023, 2024, 2026, and 2030
• Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
• Strategic recommendations in key business segments based on the market estimations
• Competitive landscaping mapping the key common trends
• Company profiling with detailed strategies, financials, and recent developments
• Supply chain trends mapping the latest technological advancements

Free Customization Offerings:

All the customers of this report will be entitled to receive one of the following free customization options:

• Company Profiling
  • Comprehensive profiling of additional market players (up to 3)
  • SWOT Analysis of key players (up to 3)
• Regional Segmentation
  • Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
  • Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances

Table of Contents

1 Executive Summary

2 Preface

• 2.1 Abstract
• 2.2 Stake Holders
• 2.3 Research Scope
• 2.4 Research Methodology
  • 2.4.1 Data Mining
  • 2.4.2 Data Analysis
  • 2.4.3 Data Validation
  • 2.4.4 Research Approach
• 2.5 Research Sources
  • 2.5.1 Primary Research Sources
  • 2.5.2 Secondary Research Sources
  • 2.5.3 Assumptions

3 Market Trend Analysis

• 3.1 Introduction
• 3.2 Drivers
• 3.3 Restraints
• 3.4 Opportunities
• 3.5 Threats
• 3.6 Technology Analysis
• 3.7 Application Analysis
• 3.8 End User Analysis
• 3.9 Emerging Markets
• 3.10 Impact of Covid-19

4 Porters Five Force Analysis

• 4.1 Bargaining power of suppliers
• 4.2 Bargaining power of buyers
• 4.3 Threat of substitutes
• 4.4 Threat of new entrants
• 4.5 Competitive rivalry

5 Global Power-to-Gas Market, By Technology

• 5.1 Introduction
• 5.2 Electrolysis
• 5.3 Methanation

6 Global Power-to-Gas Market, By Application

• 6.1 Introduction
• 6.2 Residential
• 6.3 Commercial
• 6.4 Industrial

7 Global Power-to-Gas Market, By End User

• 7.1 Introduction
• 7.2 Transportation
• 7.3 Chemical Production
• 7.4 Steel Industry
• 7.5 Other End Users

8 Global Power-to-Gas Market, By Geography

• 8.1 Introduction
• 8.2 North America
  • 8.2.1 US
  • 8.2.2 Canada
  • 8.2.3 Mexico
• 8.3 Europe
  • 8.3.1 Germany
  • 8.3.2 UK
  • 8.3.3 Italy
  • 8.3.4 France
  • 8.3.5 Spain
  • 8.3.6 Rest of Europe
• 8.4 Asia Pacific
  • 8.4.1 Japan
  • 8.4.2 China
  • 8.4.3 India
  • 8.4.4 Australia
  • 8.4.5 New Zealand
  • 8.4.6 South Korea
  • 8.4.7 Rest of Asia Pacific
• 8.5 South America
  • 8.5.1 Argentina
  • 8.5.2 Brazil
  • 8.5.3 Chile
  • 8.5.4 Rest of South America
• 8.6 Middle East & Africa
  • 8.6.1 Saudi Arabia
  • 8.6.2 UAE
  • 8.6.3 Qatar
  • 8.6.4 South Africa
  • 8.6.5 Rest of Middle East & Africa

9 Key Developments

• 9.1 Agreements, Partnerships, Collaborations and Joint Ventures
• 9.2 Acquisitions & Mergers
• 9.3 New Product Launch
• 9.4 Expansions
• 9.5 Other Key Strategies

10 Company Profiling

• 10.1 Avacon AG
• 10.2 Cummins Inc
• 10.3 Fortescue Metals Group
• 10.4 FuelCell Energy Inc
• 10.5 Hitachi Zosen Inova AG
• 10.6 MAN Energy Solutions
• 10.7 Siemens Energy AG
• 10.8 Sunfire GmbH
• 10.9 Thyssenkrupp AG