Oct 15, 2019   SOURCE: PR NewsWire

10.1% Growth Rate for Power-to-Gas Market by 2024 | Latest Innovation, Advance Technology, Top Companies - ReportsnReports

PUNE, India, Oct. 15, 2019 /PRNewswire/ -- The Global Power-to-Gas Market is projected to reach US$ 42 Million by 2024 from an estimated US$ 26 Million in 2019, at a CAGR of 10.1% during the forecast period. There is an increase in need of effective utilization of renewable energy sources and also integrated the management of power and gas network. Power-to-gas technology plays a vital role by effectively managing the excess renewable energy and converting it to hydrogen.

Browse Power-to-gas Market research report spread through 174 Pages and in-depth TOC on https://www.reportsnreports.com/reports/2611485-power-to-gas-market-by-technology-electrolysis-and-methanation-capacity-less-than-100-kw-100-999kw-1000-kw-and-above-end-user-commercial-utilities-and-industrial-and-region-north-america-europe-asi-st-to-2024.html

Top Companies profiled in the Power-to-Gas Market:

    --  Hydrogenics (Canada)
    --  ITM Power (UK)
    --  McPhy Energy (France)
    --  Siemens (Germany)
    --  MAN Energy Solutions (Germany)
    --  Nel Hydrogen (Norway)

"Electrolysis technology of Power-to-gas dominate the global market"

The electrolysis segment of the power-to-gas market is expected to be the largest market, by technology, during the forecast period The growth of the market is driven by the electrolysis technologies ability to store excess renewable energy from solar and wind during peak hour generation for meeting future peak demands.

Inquire for DISCOUNT on "Power-to-gas Market by technology (Electrolysis and Methanation), Capacity (Less than 100 kW, 100-999kW, 1000 kW and Above), End-User (Commercial, Utilities, and Industrial), and Region (North America, Europe, Asia Pacific) - Global Forecast to 2024" research report at https://www.reportsnreports.com/contacts/discount.aspx?name=2611485

"1000 kW and Above segment power-to-gas dominate the global market "

The 1000 kW and Above segment, by capacity is estimated to be the fastest-growing during the forecast period. This growth is attributed to the increasing demand for hydrogen for electricity, and new vehicle technologies such as fuel cell-based transportation.

"Europe to lead the global power-to-gas market in terms of growth rate."

The power-to-gas market in Europe is projected to grow at the fastest rate during the forecast period. Growing power-to-gas projects dominate the market in countries such as Germany, France, Denmark, and the Netherlands for effective utilization of renewable energy sources, predominantly wind energy.

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Breakdown of supply-side primary interviews, by company type, designation, and region:

    --  By Company Type: Tier I-55%, Tier II-13%, and Tier III-15%
    --  By Designation: C-Level-60%, Director Level-20%, and Others-20%
    --  By Region: Europe- 73%, North America- 18%, Asia Pacific- 9%

Another research titled "Floating LNG Power Vessel Market by Component (Power Generation System and Power Distribution System), Power Output (Up to 72 MW, 72 MW-400 MW, Above 400 MW), Vessel Type (Power Barge and Power Ship), and Region - Global Forecast to 2023, at a Compound Annual Growth Rate (CAGR) of 1.61% during the forecast period. Companies such as Major players in the Floating LNG Power Vessel Market are Siemens AG (Germany), MAN Diesel & Turbo SE (Germany), Wärtsilä Corporation (Finland), General Electric Company (US), and Caterpillar Inc. (US) have been profiled in this 108 pages research report available at https://www.reportsnreports.com/purchase.aspx?name=1624367

Explore more reports on Energy and Power Market at https://www.reportsnreports.com/market-research/energy-and-power-supplies/

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