Power-to-Gas Market Share

On the basis of geographical analysis, the global power-to-gas market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and the Middle East & Africa region. Asia Pacific industry is set to hold largest revenue share by 2036, driven by provision of incentives and subsidies such as special benefits in new car registration by the government in the region. Moreover, the market in Europe is projected to acquire the largest share during the forecast period owing to the increasing number of power-to-gas plants, especially in Germany, and high production of electric vehicles in the region. As per the data provided by Europe Environment Agency, about 550,000 units of electric cars were registered in Europe in 2019, up from 300,000 units in 2018. This represents an increase of 2 percent to 3.5 percent of the total car registrations in the time period. In addition, the technology plays a crucial role in stabilizing the energy supply in the region, which is another factor predicted to fuel the market progress of Europe in the coming years.