Market Overview:

Power-to-gas is an enabling technology for integrating high shares of renewable energy into the energy system. It facilitates storage of renewable energy in form of hydrogen or methane. Power-to-gas makes use of excess renewable electricity to produce hydrogen through electrolysis. The produced hydrogen can then be stored and transported using existing natural gas infrastructure for various applications such as mobility, heating and power generation.

Market key trends:

One of the key trends in the power-to-gas market is the increasing focus on generating renewable hydrogen. Power-to-gas offers a viable solution for producing renewable hydrogen at scale by utilizing excess renewable electricity. Renewable hydrogen produced through power-to-gas can help decarbonize sectors which are hard to abate such as aviation, shipping etc. It also helps in integrating a higher share of intermittent renewable energy sources into the energy mix. The produced renewable hydrogen and renewable methane have potential to significantly reduce greenhouse emissions from various sectors by displacing conventional natural gas and other fossil fuels.

Key Takeaways

The global Power-to-Gas Market Size is expected to witness high growth, exhibiting CAGR of 12% over the forecast period, due to increasing demand for renewable energy storage.

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