NEWARK, Del, Dec. 21, 2022 (GLOBE NEWSWIRE) -- The power-to-x market is likely to thrive at a CAGR of 9.8% during the forecast period. The market is anticipated to cross a market share of US$ 484 Mn by 2033 while it holds a revenue of US$ 190 Mn in 2023.
- The constant search for sustainable power resources along with the rising demand for green hydrogen for transportation requirements have fueled the adoption of power-to-X technology.
- Governments building the infrastructure for generating clean and green power that limits the carbon footprints and ensures a livable environment look for innovative technologies that limit the growth of carbon emissions. Thus, higher demand for power-to-X technology is expected during the forecast period.
- The rising awareness among the people around climate change and alternative power resources has led people to adopt electric vehicles and other low-emission appliances that work on hydrogen power. Green hydrogen can be obtained through power-to-X technology along with wind energy.
- The skyrocketing prices of fossil fuels and the pollution occurring due to the combustion and gases release are pushing end users to look for an alternative that lowers carbon emissions and is recyclable.
- New vendor companies constantly experimenting with the power-to-X technology and creating identical fuels and higher volumes of hydrogen helps the market build its base.
Get 30% Discount Before it’s Gone - Request Sample Report @ https://www.futuremarketinsights.com/reports/sample/rep-gb-16024
Key Points
- Based on type, power-to-hydrogen segment leads the global market due to the higher demand for green hydrogen as it is applied in the manufacturing of electric batteries.
- While the transportation segment leads the end user category as adoption of e-fuel such as e-petrol, e-diesel, and e-kerosene increases.
- Europe and APAC regions are expected to be interesting during teh forecast period as Europe holds the biggest market share in the global power-to-X market, and APAC governments put their efforts and capital to build sustainable plants and technology to create new power sources. Emerging economies like India and China thrives at a faster pace as they must cater the power requirements of a larger population
Competitive Landscape
The competitors focus on creating a flexible platform that ensures smooth conversion in an efficient manner. Furthermore, the players extend their research and development cells to produce high performing technology that can be used anywhere. Different models support different power resources and produce different elements. The higher demand for hydrogen makes competitors focus on producing hydrogen in the easiest way possible. Europe holds several major players such as Lindem REFHYNE, and Ceres Power that produce expert papers to promote their innovative programs.
Recent Market Developments
- Man Energy Solutions have launched the program to limit the CO2 footprint by converting renewable electricity into synthetic gas or hydrogen, creating power for industrial, mobility, and heating applications.
- Weidmüller has launched a complete system of producing hydrogen through sustainable power-to-X technology while also processing, storing, and supplying it with utmost safety.
- Thyssenkrupp provides solutions like green hydrogen and grid flexibility. The brand uses a gas grid for the transportation of green power, converting the electrical power to hydrogen, and SNG.
Key Players
- IRENA
- Neles
- Underground Sun Conversion
- Weidmüller
- Heat Smart Orkney
- Copenhagen Infrastructure Partners
- Jupiter 1000
- Air Liquide
Get More Information on this Report @ https://www.futuremarketinsights.com/reports/power-to-x-market
Power-to-X Market by Category, Power-to-X Market is Segmented as
By Type:
- Power-to-H2
- Power-to-CO/Syngas/Formic Acid
- Power-to-NH3
- Power-to-Methane
- Power-to-Methanol
- Power-to-H2O2
By End Use, Power-to-X Market is Segmented as:
- Transportation
- Agriculture
- Manufacturing
- Industry
- Residential
- Others
By Region, Power-to-X Market is Segmented as:
- North America
- Europe
- East Asia
- South Asia & Pacific
- MEA
For Additional Information or Customization on this Report @ https://www.futuremarketinsights.com/customization-available/rep-gb-16024
Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
3.2. Scenario Forecast
3.2.1. Demand in Optimistic Scenario
3.2.2. Demand in Likely Scenario
3.2.3. Demand in Conservative Scenario
3.3. Opportunity Map Analysis
3.4. Investment Feasibility Matrix
3.5. PESTLE and Porter’s Analysis
Explore FMI’s Extensive Coverage on Industrial Automation Domain
Power Quality Equipment Market Size: The power quality equipment market size is estimated to be worth US$ 38.04 Bn in 2023 and is projected to reach US$ 69.65 Bn by 2033. The sales of power-quality equipment are likely to rise at a CAGR of 6.25% during the forecast period.
Barcode Scanner Market Demand: As per newly released data by FMI, the market for barcode scanner is estimated to be worth US$ 8.10 Bn in 2023. The market is expected to grow at a CAGR of over 7.6% between 2023 and 2033. The market for barcode scanner is estimated to be worth US$ 16.86 Bn by 2033.
Aseptic Processing Market Analysis: The global aseptic processing market is projected to register at a moderate-paced CAGR of 6.13% over the forecast period. The aseptic processing market is currently valued at US$ 95.63 Bn in 2023. By 2033, demand for Aseptic Processing is expected to reach a high of US$ 173.37 Bn.
Electrolyzer Market Growth: The electrolyzer market is estimated to secure a progressive CAGR of 32.21% during the forecast period. According to FMI, the market is projected to be valued at US$ 159.74 Bn by 2033, up from US$ 9.79 Bn in 2023.
Bitumen Sprayer Market Forecast: The global bitumen sprayer market is set to enjoy a valuation of US$ 878.7 Mn in 2022, and further grow at a CAGR of 4.0% during the forecast period of 2022-2032.
About Future Market Insights, Inc.
Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA. A recipient of Clutch Leaders Award 2022 on account of high client score (4.9/5), we have been collaborating with global enterprises in their business transformation journey and helping them deliver on their business ambitions. 80% of the largest Forbes 1000 enterprises are our clients. We serve global clients across all leading & niche market segments across all major industries.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware - 19713, USA
T: +1-845-579-5705
LinkedIn| Twitter| Blogs | YouTube
For Sales Enquiries: sales@futuremarketinsights.com
