Dublin, Sept. 02, 2024 (GLOBE NEWSWIRE) -- The "Power-to-X (P2X) Market Report 2024-2034" report has been added to ResearchAndMarkets.com's offering.
Power-to-X (P2X) Market will surpass US$356.0 million in 2024
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This report will prove invaluable to leading firms striving for new revenue pockets if they wish to better understand the industry and its underlying dynamics. It will be useful for companies that would like to expand into different industries or to expand their existing operations in a new region.
Decarbonisation Goals and Climate Change Mitigation Efforts
Governments and organisations worldwide are increasingly committing to ambitious decarbonisation goals to combat climate change. Power-to-X (P2X) technologies, which convert electricity from renewable sources into hydrogen, synthetic fuels, and other chemicals, are crucial in achieving these targets.
Countries are enacting policies and regulations to reduce greenhouse gas emissions, thereby creating a conducive environment for P2X technology adoption. For instance, the European Union's Green Deal aims to make Europe climate-neutral by 2050, fostering significant investments in renewable energy and P2X infrastructure. This regulatory push, coupled with financial incentives, is driving the P2X market as industries seek sustainable alternatives to fossil fuels.
Lack of Knowledge About E-Fuels and E-Fertilizers is Anticipated to Slow Down the Market
A significant market restraining factor for Power-to-X (P2X) technologies is the lack of widespread knowledge and understanding of e-fuels and e-fertilizers. E-fuels, which are synthetic fuels produced using renewable energy, and e-fertilizers, created through similar sustainable processes, are still relatively new concepts in the broader energy and agricultural sectors.
This unfamiliarity can result in hesitancy among stakeholders, including potential investors, policymakers, and end-users. They may not fully grasp the benefits, applications, and potential of these advanced products, which slows adoption and integration into existing systems. Moreover, the absence of robust educational campaigns and industry outreach exacerbates this issue, as it limits the dissemination of critical information needed to drive market growth and acceptance.
Key Questions Answered
- How is the power-to-x (P2X) market evolving?
- What is driving and restraining the power-to-x (P2X) market?
- How will each power-to-x (P2X) submarket segment grow over the forecast period and how much revenue will these submarkets account for in 2034?
- How will the market shares for each power-to-x (P2X) submarket develop from 2024 to 2034?
- What will be the main driver for the overall market from 2024 to 2034?
- Will leading power-to-x (P2X) markets broadly follow the macroeconomic dynamics, or will individual national markets outperform others?
- How will the market shares of the national markets change by 2034 and which geographical region will lead the market in 2034?
- Who are the leading players and what are their prospects over the forecast period?
- What are the power-to-x (P2X) projects for these leading companies?
- How will the industry evolve during the period between 2024 and 2034? What are the implications of power-to-x (P2X) projects taking place now and over the next 10 years?
- Is there a greater need for product commercialisation to further scale the power-to-x (P2X) market?
- Where is the power-to-x (P2X) market heading and how can you ensure you are at the forefront of the market?
- What are the best investment options for new product and service lines?
- What are the key prospects for moving companies into a new growth path and C-suite?
Market Overview
Market Driving Factors
- Government Subsidies, Grants, and Tax Incentives for Renewable Energy Projects Support the Adoption of P2X Technologies
- Increasing Demand of Green Hydrogen and Ammonia Driving the Market Growth
- Emphasis on Renewable Energy Sources Driving the Market Growth
Market Restraining Factors
- Lack of Knowledge About E-Fuels and E-Fertilizers is Anticipated to Slow Down the Market
- P2X Technologies Often Require Significant Upfront Investment in Infrastructure and Equipment
Market Opportunities
- Collaboration and Partnership Between Market Players Opportunities for the Market Growth
- Expansion and New Product Launch Opportunities for the P2X Market Growth
- Power-to-Advantages x's Over Currently Being Tested Energy Storage Technologies like Batteries and Pumped Hydro Driving the Market Growth
Supply Chain Analysis
Regulatory Framework
Emerging Markets and Megatrends
PEST Analysis
Leading Companies
- Air Liquide SA
- Air Products and Chemicals, Inc
- Ceres Power Holdings plc
- Copenhagen Infrastructure Partners
- International Renewable Energy Agency (IRENA)
- Linde plc
- Mitsubishi Power, Ltd
- ThyssenKrupp AG
- Underground Sun Conversion
- Weidmuller Interface GmbH & Co. KG,.
Segments Covered in the Report
Source
- Renewable Energy Sources
- Conventional Energy Sources
- Hybrid Energy Sources
Application
- Energy Storage
- Grid Stabilization
- Fuel Production
- Industrial Processes
End-User
- Utilities
- Industrial
- Transportation
- Residential
- Commercial
Technology
- Power-to-Gas (P2G)
- Power-to-Heat (P2H)
- Power-to-Liquids (P2L)
- Power-to-Chemicals (P2C)
- Power-to-Hydrogen (P2H2)
- Other Technologies
North America
- U.S.
- Canada
Europe
- Germany
- UK
- France
- Spain
- Italy
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia Pacific
Latin America
- Brazil
- Mexico
- Rest of Latin America
MEA
- GCC
- South Africa
- Rest of MEA
For more information about this report visit https://www.researchandmarkets.com/r/tgtdm7
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