Europe Power-to-X Market By Application (Decentralized Production, Seasonal Energy Storage, Decarbonization, Grid Stability) By End User (Transportation, Agriculture, Manufacturing, Industry, Residential, Others) By Type (Power-to-gas, Power-to-heat, Power-to-Ammonia, Energy Storage, Others), By Country, Competition, Forecast & Opportunities, 2027

Europe Power-to-X market is expected to grow at an impressive rate during the forecast period. 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 the 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, 2023-2027 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.

Objective of the Study:

• To analyze and forecast the market size of Europe Power-to-X market.
• 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.

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TechSci Research performed both primary as well as exhaustive secondary research for this study. Initially, TechSci Research sourced a list of service providers across the globe. Subsequently, TechSci Research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, TechSci Research could include the service providers which could not be identified due to the limitations of secondary research. TechSci Research analyzed the service providers, distribution channels and presence of all major service providers across the globe.

TechSci Research 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. TechSci Research 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 by TechSci Research.

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:

o    Decentralized Production

o    Seasonal Energy Storage

o    Decarbonization

o    Grid Stability

·         Europe Power-to-X Market, By End User:

o    Transportation

o    Agriculture

o    Manufacturing

o    Industry

o    Residential

o    Others

·         Europe Power-to-X Market, By Type:

o    Power-to-gas

o    Power-to-heat

o    Power-to-Ammonia

o    Energy Storage

o    Others

·         Europe Power-to-X Market, By Country:

o    Germany

o    France

o    Netherlands

o    Belgium

o    Denmark

o    Spain

o    United Kingdom

o    Switzerland

o    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, TechSci Research offers customizations according to a company’s specific needs. The following customization options are available for the report:

Company Information

• Detailed analysis and profiling of additional market players (up to five).

In case you don’t find what, you are looking for, please get in touch with our custom research team at [email protected]