1 INTRODUCTION 18
1.1 OBJECTIVES OF THE STUDY 18
1.2 DEFINITION 18
1.2.1 POWER-TO-GAS MARKET, BY TECHNOLOGY: INCLUSIONS & EXCLUSIONS 19
1.2.2 POWER-TO-GAS MARKET, BY END-USER: INCLUSIONS & EXCLUSIONS 19
1.3 MARKET SCOPE 19
1.3.1 MARKET SEGMENTATION 19
1.3.2 YEARS CONSIDERED FOR THE STUDY 20
1.4 CURRENCY 20
1.5 LIMITATIONS 20
1.6 STAKEHOLDERS 21

2 RESEARCH METHODOLOGY 22
2.1 RESEARCH DATA 22
2.1.1 SECONDARY DATA 24
2.1.1.1 Key data from secondary sources 24
2.1.2 PRIMARY DATA 24
2.1.2.1 Key data from primary sources 25
2.1.2.2 Break-up of primaries 26
2.2 SCOPE 26
2.3 MARKET SIZE ESTIMATION 28
2.3.1 DEMAND-SIDE ANALYSIS 28
2.3.1.1 Key Assumptions 28
2.3.1.2 Calculation 29
2.3.2 FORECAST 29
2.3.3 SUPPLY-SIDE ANALYSIS 29
2.3.3.1 Assumptions and Calculations 30

3 EXECUTIVE SUMMARY 31

4 PREMIUM INSIGHTS 35
4.1 ATTRACTIVE OPPORTUNITIES IN THE POWER-TO-GAS MARKET 35
4.2 POWER-TO-GAS MARKET, BY REGION 36
4.3 POWER-TO-GAS MARKET, BY TECHNOLOGY 36
4.4 EUROPE POWER-TO-GAS MARKET, BY CAPACITY & COUNTRY 37
4.5 POWER-TO-GAS MARKET, BY END-USER 37
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5 MARKET OVERVIEW 38
5.1 INTRODUCTION 38
5.2 MARKET DYNAMICS 38
5.2.1 DRIVERS 39
5.2.1.1 Effective utilization of renewable energy resources 39
5.2.1.2 Integrated management of power & gas networks 40
5.2.2 RESTRAINTS 41
5.2.2.1 High capital cost of power-to-gas systems 41
5.2.2.2 Low efficiency and energy loss 41
5.2.3 OPPORTUNITIES 42
5.2.3.1 Potential use of hydrogen in mobility solutions 42
5.2.3.2 Hydrogen can be used as a substitute for natural gas 43
5.2.4 CHALLENGES 44
5.2.4.1 Regulation limit for hydrogen blending in the natural gas network 44
5.2.4.2 Availability of low-cost natural gas and battery technologies 45

6 POWER-TO-GAS MARKET, BY TECHNOLOGY 46
6.1 INTRODUCTION 47
6.2 ELECTROLYSIS 48
6.2.1 GROWING DEMAND FOR GREEN HYDROGEN IS DRIVING THE MARKET 48
6.2.1.1 Alkaline water electrolysis 48
6.2.1.2 PEM 48
6.2.1.3 SOEC 48
6.3 METHANATION 50
6.3.1 GROWING DEMAND FOR SNG IS DRIVING THE MARKET 50
6.3.1.1 Chemical 50
6.3.1.2 Biological 50

7 POWER-TO-GAS MARKET, BY CAPACITY 53
7.1 INTRODUCTION 54
7.2 1,000 KW AND ABOVE 55
7.2.1 METHANATION OF HYDROGEN FOR ENERGY TRANSITION IS EXPECTED TO DRIVE THIS SEGMENT 55
7.3 100–999 KW 57
7.3.1 FOCUS ON HYDROGEN BLENDING WITH NATURAL GAS IS DRIVING THIS SEGMENT 57
7.4 LESS THAN 100 KW 59
7.4.1 MAJORITY OF THE POWER-TO-GAS PILOT DEMONSTRATION PROJECTS ARE DRIVING THIS SEGMENT 59
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8 POWER-TO-GAS MARKET, BY END-USER 62
8.1 INTRODUCTION 63
8.2 UTILITIES 64
8.2.1 NATURAL GAS BLENDING AND RENEWABLE ENERGY INTEGRATION ARE EXPECTED TO DRIVE THE UTILITIES SEGMENT 64
8.3 INDUSTRIAL 66
8.3.1 HYDROGEN USED FOR FEEDSTOCK PURPOSE AND IN OIL & GAS REFINERIES IS DRIVING THE INDUSTRIAL SEGMENT 66
8.4 COMMERCIAL 69
8.4.1 FUEL CELL BASED TRANSPORT AND USE OF HYDROGEN FOR COMMERCIAL SPACE HEATING ARE DRIVING THE COMMERCIAL SEGMENT 69

9 POWER-TO-GAS MARKET, BY REGION 72
9.1 INTRODUCTION 73
9.2 EUROPE 74
9.2.1 BY TECHNOLOGY 76
9.2.2 BY CAPACITY 76
9.2.3 BY END-USER 77
9.2.4 BY COUNTRY 77
9.2.4.1 Germany 78
9.2.4.1.1 Need to integrate fluctuating renewable energy sources and increase flexibility of grid operations is driving the market 78
9.2.4.2 UK 81
9.2.4.2.1 Growing demand for hydrogen as a substitute for natural gas is driving the demand for power-to-gas technologies 81
9.2.4.3 France 83
9.2.4.3.1 Need to decarbonize gas and power networks is driving the demand for power-to-gas technology 83
9.2.4.4 Denmark 86
9.2.4.4.1 High share of wind power and well-developed subsidies drive the power-to-gas projects 86
9.2.4.5 The Netherlands 88
9.2.4.5.1 Need to reduce natural gas consumption and produce green hydrogen is driving the market 88
9.2.4.6 Switzerland 91
9.2.4.6.1 Support for solar PV expansion is driving the power-to-gas market 91
9.2.4.7 Rest of Europe 94
9.2.4.7.1 Need for large-scale energy storage projects is driving the power-to-gas market 94
9.3 NORTH AMERICA 97
9.3.1 BY TECHNOLOGY 97
9.3.2 BY CAPACITY 98
9.3.3 BY END-USER 98
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9.3.4 BY COUNTRY 99
9.3.4.1 US 100
9.3.4.1.1 Need for operational flexibility and demand for hydrogen in commercial sector are driving the market 100
9.3.4.2 Canada 102
9.3.4.2.1 Low-carbon fuel standard and need for grid regulation services are driving the market 102
9.4 ASIA PACIFIC 105
9.4.1 BY TECHNOLOGY 105
9.4.2 BY CAPACITY 106
9.4.3 BY END-USER 106
9.4.4 BY COUNTRY 107
9.4.4.1 China 107
9.4.4.1.1 Hydrogen economy initiatives are driving the power-to-gas market 107
9.4.4.2 Japan 110
9.4.4.2.1 Need for grid stability and development of a hydrogen economy are driving the market 110
9.4.4.3 Australia 112
9.4.4.3.1 Hydrogen export opportunities are driving the power-to-gas market 112
9.4.4.4 Rest of Asia Pacific 115
9.4.4.4.1 Support policies for renewable energy generation are driving the power-to-gas market 115

10 COMPETITIVE LANDSCAPE 118
10.1 INTRODUCTION 118
10.2 MARKET SHARE ANALYSIS 120
10.3 COMPETITIVE SCENARIO 121
10.3.1 CONTRACTS & AGREEMENTS 122
10.3.2 MERGERS & ACQUISITIONS 122
10.3.3 NEW PRODUCT DEVELOPMENTS 123
10.3.4 OTHERS 123
10.4 COMPETITIVE LEADERSHIP MAPPING 124
10.4.1 VISIONARY LEADERS 124
10.4.2 INNOVATORS 124
10.4.3 DYNAMIC 124
10.4.4 EMERGING 124
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11 COMPANY PROFILE 126
(Business Overview, Offerings, Recent Developments, SWOT Analysis, and MnM View)*
11.1 HYDROGENICS 126
11.2 ITM POWER 130
11.3 MCPHY ENERGY 134
11.4 SIEMENS 137
11.5 MAN ENERGY SOLUTIONS 140
11.6 NEL HYDROGEN 142
11.7 THYSSENKRUPP 145
11.8 ELECTROCHAEA 149
11.9 EXYTRON 151
11.10 GREENHYDROGEN 153
11.11 HITACHI ZOSEN INOVA ETOGAS 155
11.12 INERATEC 157
11.13 SOCALGAS 159
11.14 UNIPER 161
11.15 MICROPYROS 163
11.16 CARBOTECH 164
11.17 POWER-TO-GAS HUNGARY 164
11.18 AQUAHYDREX 164
11.19 FUELCELL ENERGY 165
11.20 AVACON 165
*Details on Business Overview, Offerings, Recent Developments, SWOT Analysis, and MnM View might not be captured in case of unlisted companies.

12 APPENDIX 166
12.1 INSIGHTS OF INDUSTRY EXPERTS 166
12.2 DISCUSSION GUIDE 167
12.3 KNOWLEDGE STORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL 171
12.4 AVAILABLE CUSTOMIZATIONS 173
12.5 RELATED REPORTS 173
12.6 AUTHOR DETAILS 174