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Europe Power-to-X market is expected to grow at an impressive rate during the forecast period, 2022-2026. The rise in awareness among consumers regarding the adverse effects of conventional sources of energy and their harmful contribution to the environment is leading the way for the need to generate and store renewable sources of energy. The renewable source of energy is eco-friendly energy and is considered a reliable source of energy. The Paris Agreement goals emphasizing the increased share of renewable sources in the future energy generation is expected to fuel the demand for the energy storage systems in the forecast period. Growing demand for energy from prominent industries for heat, transport, and energy generation purpose requires the transformation of energy from one phase to another usable form is accelerating the demand for the Power-to-X technology. There is high demand for hydrogen and hydrogen-based products in mobility applications and re-electrification in the combined heat and power plants. The growing demand for hydrogen in industries such as in refineries or for steel production is expected to boost the Power-to-X market growth in the next five years.
Europe Power-to-X market can be segmented into application, end user, type, regional distribution, and company. Based on the end user, the market is divided into transportation, agriculture, manufacturing, industry, residential, and others. The transportation segment is expected to account for major market share in the forecast period, 2022-2026 owing to the rise in the demand for eco-friendly vehicles with lower carbon emissions into the environment. The rise in the production and sales of electric vehicles in the region which uses rechargeable batteries is the driving factor for the growth of this segment. Also, heavy duty trucking, long-haul shipping, and intercontinental aviation cannot directly convert the electricity are accelerating the demand for the Power-to-X market in the next five years.
The major players operating in the Europe Power-to-X market include Carbon2Chem, FH2R, HPEM2GAS, Heat Smart Orkney, Jupiter 1000, Power-to-Flex, REFHYNE, Underground Sun Conversion, among others. Major companies are developing advanced technologies to stay competitive in the market. Other competitive strategies include mergers & acquisitions.
Years considered for this report:
- Historical Years: 2016-2019
- Base Year: 2020
- Estimated Year: 2021
- Forecast Period: 2022-2026
Objective of the Study:
- To analyze the historical growth in the market size of Europe Power-to-X market from 2016 to 2020.
- To estimate and forecast the market of Europe Power-to-X Market from 2021 to 2026 and growth rate until 2026.
- To classify and forecast Europe Power-to-X market based on application, end user, type, regional distribution, and company.
- To identify drivers and challenges for Europe Power-to-X market.
- To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in Europe Power-to-X market.
- To identify and analyze the profile of leading players operating in the Europe Power-to-X market.
The publisher performed both primary as well as exhaustive secondary research for this study. Initially, the publisher sourced a list of service providers across the globe. Subsequently, the publisher conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, the publisher could include the service providers which could not be identified due to the limitations of secondary research. The publisher analyzed the service providers, distribution channels and presence of all major service providers across the globe.
The publisher calculated the market size of Europe Power-to-X market by using a bottom-up approach, where data for various end-user segments was recorded and forecast for the future years. The publisher sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these services and applications for getting an appropriate, overall market size. Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied.
Key Target Audience:
- Power-to-X service providers, suppliers, distributors, and other stakeholders.
- Research organizations and consulting companies
- Trade associations, organizations, forums, and alliances related to Power-to-X.
- Government bodies such as regulating authorities and policy makers
- Industry associations
The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as service providers and partners, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.
Report Scope:
In this report, Europe Power-to-X market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Europe Power-to-X Market, By Application:
- Decentralized Production
- Seasonal Energy Storage
- Decarbonization
- Grid Stability
Europe Power-to-X Market, By End User:
- Transportation
- Agriculture
- Manufacturing
- Industry
- Residential
- Others
Europe Power-to-X Market, By Type:
- Power-to-gas
- Power-to-heat
- Power-to-Ammonia
- Energy Storage
- Others
Europe Power-to-X Market, By Country:
- Germany
- France
- Netherlands
- Belgium
- Denmark
- Spain
- United Kingdom
- Switzerland
- Poland
Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in Europe Power-to-X market.
Available Customizations:
With the given market data, the publisher offers customizations according to a company’s specific needs.
Table of Contents
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Carbon2Chem
- FH2R
- HPEM2GAS
- Heat Smart Orkney
- Jupiter 1000
- Power-to-Flex
- REFHYNE
- Underground Sun Conversion
