Global Power-to-Gas Market

1. Global Power-to-Gas Market Focus on Product, Technology, and Region– Analysis and Forecast, 2014-2024 February 2020 TOC

2. Global Power-to-Gas Market BIS Research is a leading market intelligence and technology research company. BIS Research publishes in-depth market intelligence reports focusing on the market estimations, technology analysis, emerging high-growth applications, deeply segmented granular country-level market data and other important market parameters useful in the strategic decision making for senior management. BIS Research provides multi-client reports, company profiles, databases, and custom research services. Copyright © 2020 BIS Research Inc. All Rights Reserved. This document contains highly confidential information and is the sole property of BIS Research. Disclosing, copying, circulating, quoting or otherwise reproducing any or all contents of this document is strictly prohibited. Access to this information is provided exclusively for the benefit of the people or organization concerned. It may not be accessed by or offered whether for sale or otherwise to any third party. All rights reserved at BIS Research 2

3. Global Power-to-Gas Market Preface Preface Over the last decade, the demand for sustainable and energy efficient systems has massively increased. Increasing environmental concerns have resulted in the transformation of various industries and led to the innovation of multiple technologies that enable the usage of renewable sources of energy. Various research companies and institutes are working to come up with innovative alternatives to reduce the usage of fossil-based resources. Power-to-gas plant addresses the ongoing issue of excessive carbon dioxide emission and is able to present an extensive amount of opportunities to revolutionize the working principle of different end-user industries such as transportation and steel industry, among others. Establishment of power-to-gas plants facilitates the conversion of wind and solar power to electricity, thereby producing green gases such as hydrogen and methane with the help of different technologies. Power-to-gas technology remains in its upscaling stage and is yet to be commercialized on a large scale. Currently, with the help of government support and subsidies, several pilot projects are being run in numerous countries. Germany, for example, is a leading country in the market with largest number of operational power-to-gas plants. The market research study offers a wide perspective on different power-to-gas plants. The report also provides an analysis of the market penetration of power-to-gas plants for different applications and the market growth opportunities across different regions as well as countries. The study focuses on the changing landscape of the power-to-gas market, owing to the significant developments made by the leading players. The research is based on extensive primary interviews (in-house experts, industry leaders, and market players), and secondary research (a host of paid and unpaid databases), along with the analytical tools that have been used to build the forecast and predictive models. All rights reserved at BIS Research 3

4. Global Power-to-Gas Market This research has been conducted to answer some of the most crucial questions about the power-to- gas market: ▪ Why should an investor consider venturing into the power-to-gas market, and what are the future growth opportunities? ▪ For a new company looking to enter into the market, which areas could it focus upon to stay ahead of the competition? ▪ How do the existing market players function to improve their market positioning? ▪ How does the supply chain function in the power-to-gas market? ▪ Which companies have been actively involved in innovation through patent applications, and which products have witnessed maximum patent applications during the period 2013-2019? ▪ Which product and technology segments, respectively in the power-to-gas market, are expected to witness the maximum demand during 2014-2024 and how does their growth pattern vary across different regions and countries? ▪ Which are the key application areas in the power-to-gas market? ▪ Which regions and countries are leading in terms of power-to-gas plant set ups and which of them are expected to witness high demand growth in the period 2014-2024? The report is a compilation of various segmentations including market breakdown by technology, end- user, product, and region. The report highlights the key driving and restraining forces for the market as well as the opportunities in different applications across the leading countries. In the extensive primary research process undertaken for this study, the sources include industry experts and key executives from prominent companies and organizations across the power-to-gas value chain. The trends of the power-to-gas market vary with different regions. The market holds a prominent share in various countries of Europe, North America, and Asia-Pacific (APAC). The report also provides a country-based analysis for all the leading countries in every region, including Germany, the U.K., the U.S, China, and Japan, among others. Each regional analysis details an individual push-and-pull force, in addition to the key players and applications in that particular region. BIS Advanced Materials and Chemicals February 2020 All rights reserved at BIS Research 4

5. Global Power-to-Gas Market T Table of able of C Contents ontents Executive Summary ........................................................................................................ 27 1. Market Dynamics .................................................................................................. 35 1.1 Market Drivers ................................................................................................. 36 Transition Toward Renewable Sources of Energy ............................ 36 Government Initiatives to Reduce Carbon Dioxide Emissions ........ 38 Market Restraints ............................................................................................ 39 High Investment Cost of Power-to-Gas Facility ................................. 39 Infrastructural Barriers in Terms of Gas Network ............................. 40 Market Opportunities ...................................................................................... 41 Growing Demand for Hydrogen as a Green Transportation Fuel ........................................................................................................ 41 Rising Need for Flexibility in Energy Storage .................................... 41 Stringent Regulations that Promote Emission Reduction in Manufacturing and Power Industries .................................................. 42 1.2 1.3 2. Competitive Landscape ....................................................................................... 44 2.1 Key Market Development and Strategies ...................................................... 44 Business Expansions .......................................................................... 46 Partnerships, Collaborations, and Contracts .................................... 47 Investment and Funding ...................................................................... 48 Mergers, Acquisitions, and Joint Ventures ........................................ 49 Product Launches ................................................................................ 50 Other Key Activities ............................................................................. 50 3. Industry Analysis .................................................................................................. 52 3.1 3.2 3.3 Patent Analysis ............................................................................................... 52 Supply Chain Analysis.................................................................................... 55 Industry Attractiveness .................................................................................. 56 Threat of New Entrants (High) ............................................................. 57 Bargaining Power of Buyers (Low) ..................................................... 58 Bargaining Power of Suppliers (Low) ................................................. 58 Threat of Substitutes (Low) ................................................................. 59 All rights reserved at BIS Research 5

6. Global Power-to-Gas Market Intensity of Competition (High) ........................................................... 60 List of Planned Power-to-Gas Projects ......................................................... 61 3.4 4. Global Power-to-Gas Market (by Technology), Analysis and Forecast (2014-2024) ............................................................................................................ 64 4.1 4.2 Market Overview .............................................................................................. 64 Electrolysis ...................................................................................................... 66 Alkaline Electrolysis (AEL) .................................................................. 67 Polymer Electrolyte Membrane (PEM) Electrolysis ........................... 67 Solid Oxide Electrolysis (SOEC) ......................................................... 68 Methanation ..................................................................................................... 68 Catalytic ................................................................................................ 69 Biological .............................................................................................. 70 4.3 5. Global Power-to-Gas Market (by Product), Analysis and Forecast (2014-2024) ............................................................................................................ 71 5.1 5.2 5.3 Market Overview .............................................................................................. 71 Hydrogen ......................................................................................................... 72 Methane............................................................................................................ 73 6. Global Power-to-Gas Market (by End-User), Analysis and Forecast (2014-2024) ............................................................................................................ 74 6.1 6.2 6.3 6.4 6.5 Market Overview .............................................................................................. 74 Steel Industry .................................................................................................. 75 Transportation ................................................................................................. 75 Gas Grid ........................................................................................................... 78 Others............................................................................................................... 79 7. Economic Analysis ............................................................................................... 80 7.1 7.2 Market Outlook ................................................................................................ 80 Factors Determining the Growth of Power-to-Gas ....................................... 81 Cost Analysis of the Technologies Involved ..................................... 81 Pain Points of Power-to-Gas Market ................................................... 83 Policy Recommendations for the Power-to-Gas Market ................... 84 Analyst Point of View ........................................................................... 85 All rights reserved at BIS Research 6

7. Global Power-to-Gas Market 8. Global Power-to-Gas Market (by Region), Analysis and Forecast (2014-2024) ............................................................................................................ 86 8.1 Market Overview .............................................................................................. 86 Global Power-to-Gas Market (by Region), Kilowatt, 2014-2024 ........ 87 Europe .............................................................................................................. 87 Europe Power-to-Gas Market (by Electrolyzer Technology) ............ 88 Europe Power-to-Gas Market (by Methanation Technology) ............ 89 Europe Power-to-Gas Market (by Product) ........................................ 90 Europe Power-to-Gas Market (by Country) ........................................ 91 Germany ................................................................................................ 91 8.2.5.1 List of Power-to-Gas Plants Identified in Germany ........................... 92 8.2.5.2 Germany Power-to-Gas Market (by Electrolyzer Technology) ......... 98 8.2.5.3 Germany Power-to-Gas Market (by Methanation Technology) ........ 99 8.2.5.4 Germany Power-to-Gas Market (by Product) ................................... 99 France .................................................................................................. 100 8.2.6.1 List of Power-to-Gas Plants Identified in France ............................ 100 8.2.6.2 France Power-to-Gas Market (by Electrolyzer Technology) ........... 102 8.2.6.3 France Power-to-Gas Market (by Methanation Technology) .......... 102 8.2.6.4 France Power-to-Gas Market (by Product) ..................................... 103 Denmark .............................................................................................. 103 8.2.7.1 List of Power-to-Gas Plants Identified in Denmark ......................... 104 8.2.7.2 Denmark Power-to-Gas Market (by Electrolyzer Technology) ........ 106 8.2.7.3 Denmark Power-to-Gas Market (by Methanation Technology) ....... 106 8.2.7.4 Denmark Power-to-Gas Market (by Product) ................................. 107 U.K. ...................................................................................................... 107 8.2.8.1 List of Power-to-Gas Plants Identified in the U.K. ........................... 108 8.2.8.2 U.K. Power-to-Gas Market (by Electrolyzer Technology) ............... 109 8.2.8.3 U.K. Power-to-Gas Market (by Methanation Technology) .............. 109 8.2.8.4 U.K. Power-to-Gas Market (by Product) ......................................... 110 Switzerland ......................................................................................... 110 8.2.9.1 List of Power-to-Gas Plants Identified in Switzerland ..................... 111 8.2.9.2 Switzerland Power-to-Gas Market (by Electrolyzer Technology) .... 112 8.2 All rights reserved at BIS Research 7

8. Global Power-to-Gas Market Switzerland Power-to-Gas Market (by Methanation Technology) .................................................................................... 113 Switzerland Power-to-Gas Market (by Product) ............................. 113 Netherlands ......................................................................................... 114 8.2.10.1List of Power-to-Gas Plants Identified in the Netherlands .............. 114 8.2.10.2Netherlands Power-to-Gas Market (by Electrolyzer Technology) .................................................................................... 115 8.2.10.3Netherlands Power-to-Gas Market (by Methanation Technology) .................................................................................... 115 8.2.10.4Netherlands Power-to-Gas Market (by Product) ............................. 116 Rest-of-Europe.................................................................................... 116 8.2.11.1List of Power-to-Gas Plants Identified in Rest-of-Europe ............... 117 8.2.11.2Rest-of-Europe Power-to-Gas Market (by Electrolyzer Technology) .................................................................................... 120 8.2.11.3Rest-of-Europe Power-to-Gas Market (by Methanation Technology) .................................................................................... 120 8.2.11.4Rest-of-Europe Power-to-Gas Market (by Product) ........................ 121 Asia-Pacific .................................................................................................... 121 Asia-Pacific Power-to-Gas Market (by Electrolyzer Technology) ........................................................................................ 122 Asia-Pacific Power-to-Gas Market (by Methanation Technology) ........................................................................................ 123 Asia-Pacific Power-to-Gas Market (by Product) .............................. 123 Asia-Pacific Power-to-Gas Market (by Country) .............................. 124 China ................................................................................................... 124 8.3.5.1 List of Power-to-Gas Plants Identified in China .............................. 125 8.3.5.2 China Power-to-Gas Market (by Electrolyzer Technology) ............. 125 8.3.5.3 China Power-to-Gas Market (by Methanation Technology) ............ 126 8.3.5.4 China Power-to-Gas Market (by Product) ...................................... 126 Japan ................................................................................................... 127 8.3.6.1 List of Power-to-Gas Plants Identified in Japan .............................. 128 8.3.6.2 Japan Power-to-Gas Market (by Electrolyzer Technology) ............ 129 8.3.6.3 Japan Power-to-Gas Market (by Methanation Technology) ........... 130 8.3.6.4 Japan Power-to-Gas Market (by Product) ...................................... 130 Australia .............................................................................................. 131 8.2.9.3 8.2.9.4 8.3 All rights reserved at BIS Research 8

9. Global Power-to-Gas Market List of Power-to-Gas Plants Identified in Australia .......................... 131 Australia Power-to-Gas Market (by Electrolyzer Technology) ........ 132 Australia Power-to-Gas Market (by Methanation Technology) ....... 132 Australia Power-to-Gas Market (by Product) .................................. 133 Rest-of-Asia-Pacific ............................................................................ 133 8.3.8.1 List of Power-to-Gas Plants Identified in Rest-of-APAC ................. 134 8.3.8.2 Rest-of-Asia-Pacific Power-to-Gas Market (by Electrolyzer Technology) .................................................................................... 134 8.3.8.3 Rest-of-Asia-Pacific Power-to-Gas Market (by Methanation Technology) .................................................................................... 135 8.3.8.4 Rest-of-Asia-Pacific Power-to-Gas Market (by Product) ................ 135 North America ............................................................................................... 136 North America Power-to-Gas Market (by Electrolyzer Technology) ........................................................................................ 136 North America Power-to-Gas Market (by Methanation Technology) ........................................................................................ 137 North America Power-to-Gas Market (by Product) .......................... 137 North America Power-to-Gas Market (by Country) .......................... 138 U.S. ...................................................................................................... 138 8.4.5.1 List of Power-to-Gas Plants Identified in the U.S. ........................... 139 8.4.5.2 U.S. Power-to-Gas Market (by Electrolyzer Technology) ............... 139 8.4.5.3 U.S. Power-to-Gas Market (by Methanation Technology) .............. 140 8.4.5.4 U.S. Power-to-Gas Market (by Product) ......................................... 141 Canada ................................................................................................ 141 8.4.6.1 List of Power-to-Gas Plants Identified in Canada ........................... 142 8.4.6.2 Canada Power-to-Gas Market (by Electrolyzer Technology) ......... 142 8.4.6.3 Canada Power-to-Gas Market (by Methanation Technology) ........ 143 8.4.6.4 Canada Power-to-Gas Market (by Product) ................................... 143 Rest-of-the-World .......................................................................................... 144 Rest-of-the-World Power-to-Gas Market (by Electrolyzer Technology) ........................................................................................ 144 Rest-of-the-World Power-to-Gas Market (by Methanation Technology) ........................................................................................ 145 Rest-of-the-World Power-to-Gas Market (by Product) .................... 145 Middle East and Africa ....................................................................... 146 8.3.7.1 8.3.7.2 8.3.7.3 8.3.7.4 8.4 8.5 All rights reserved at BIS Research 9

10. Global Power-to-Gas Market 8.5.4.1 8.5.4.2 List of Power-to-Gas Plants Identified in Middle East and Africa .... 146 Middle East and Africa Power-to-Gas Market (by Electrolyzer Technology) .................................................................................... 147 Middle East and Africa Power-to-Gas Market (by Methanation Technology) .................................................................................... 147 Middle East and Africa Power-to-Gas Market (by Product) ............ 148 South America .................................................................................... 149 8.5.5.1 List of Power-to-Gas Plants Identified in South America ................ 149 8.5.5.2 South America Power-to-Gas Market (by Electrolyzer Technology) .................................................................................... 149 8.5.5.3 South America Power-to-Gas Market (by Methanation Technology) .................................................................................... 150 8.5.5.4 South America Power-to-Gas Market (by Product) ........................ 150 8.5.4.3 8.5.4.4 9. Company Profiles ............................................................................................... 151 9.1 9.2 Overview ........................................................................................................ 151 Aquahydrex, Inc. ........................................................................................... 152 Company Overview ............................................................................ 152 Role of Aquahydrex, Inc. in Global Power-to-Gas Market .............. 152 Product Portfolio ................................................................................ 152 Strengths of Aquahydrex, Inc. in Global Power-to-Gas Market...... 153 Weaknesses of Aquahydrex, Inc. in Global Power-to-Gas Market .................................................................................................. 153 Electrochaea GmbH ...................................................................................... 154 Company Overview ............................................................................ 154 Role of Electrochaea GmbH in Global Power-to-Gas Market ......... 154 Product Portfolio ................................................................................ 155 Strengths of Electrochaea GmbH in Global Power-to-Gas Market .................................................................................................. 155 Weaknesses of Electrochaea GmbH in Global Power-to-Gas Market .................................................................................................. 155 EXYTRON GmbH ........................................................................................... 156 Company Overview ............................................................................ 156 Role of EXYTRON GmbH in Global Power-to-Gas Market .............. 156 Product Portfolio ................................................................................ 156 9.3 9.4 All rights reserved at BIS Research 10

11. Global Power-to-Gas Market Strengths of EXYTRON GmbH in Global Power-to-Gas Market ..... 157 Weaknesses of EXYTRON GmbH in Global Power-to-Gas Market .................................................................................................. 157 Hitachi Zosen Corporation ........................................................................... 158 Company Overview ............................................................................ 158 Role of Hitachi Zosen Corporation in Global Power-to-Gas Market .................................................................................................. 158 Product Portfolio ................................................................................ 159 Financials ............................................................................................ 160 Research and Development .............................................................. 162 Strengths of Hitachi Zosen Corporation in Global Power-to- Gas Market .......................................................................................... 163 Weaknesses of Hitachi Zosen Corporation in Global Power-to- Gas Market .......................................................................................... 163 Hydrogenics Corporation ............................................................................. 164 Company Overview ............................................................................ 164 Role of Hydrogenics Corporation in Global Power-to-Gas Market .................................................................................................. 164 Product Portfolio ................................................................................ 165 Financials ............................................................................................ 166 Research and Development .............................................................. 169 Strengths of Hydrogenics Corporation in Global Power-to-Gas Market .................................................................................................. 170 Weaknesses of Hydrogenics Corporation in Global Power-to- Gas Market .......................................................................................... 170 ITM Power PLC .............................................................................................. 171 Company Overview ............................................................................ 171 Role of ITM Power PLC in Global Power-to-Gas Market ................. 171 Product Portfolio ................................................................................ 172 Financials ............................................................................................ 173 Research and Development .............................................................. 176 Strengths of ITM Power PLC in Global Power-to-Gas Market ........ 176 Weaknesses of ITM Power PLC in Global Power-to-Gas Market.... 176 MAN Energy Solutions.................................................................................. 177 Company Overview ............................................................................ 177 9.5 9.6 9.7 9.8 All rights reserved at BIS Research 11

12. Global Power-to-Gas Market Role of MAN Energy Solutions in Global Power-to-Gas Market ..... 177 Product Portfolio ................................................................................ 178 Strengths of MAN Energy Solutions in Global Power-to-Gas Market .................................................................................................. 179 Weaknesses of MAN Energy Solutions in Global Power-to-Gas Market .................................................................................................. 179 McPhy Energy S.A. ....................................................................................... 180 Company Overview ............................................................................ 180 Role of McPhy Energy S.A. in Global Power-to-Gas Market ........... 180 Product Portfolio ................................................................................ 181 Financials ............................................................................................ 182 Strengths of McPhy Energy S.A. in Global Power-to-Gas Market .................................................................................................. 183 Weaknesses of McPhy Energy S.A. in Global Power-to-Gas Market .................................................................................................. 183 9.10MicroPyros GmbH ......................................................................................... 184 Company Overview ............................................................................ 184 Role of MicroPyros GmbH In Global Power-to-Gas Market ............ 184 Product Portfolio ................................................................................ 185 Strengths of MicroPyros GmbH in Global Power-to-Gas Market .................................................................................................. 185 Weaknesses of MicroPyros GmbH in Global Power-to-Gas Market .................................................................................................. 185 9.11Nel ASA .......................................................................................................... 186 Company Overview ............................................................................ 186 Role of Nel ASA in Global Power-to-Gas Market ............................. 186 Product Portfolio ................................................................................ 187 Financials ............................................................................................ 188 Strengths of Nel ASA in Global Power-to-Gas Market .................... 191 Weaknesses of Nel ASA in Global Power-to-Gas Market ............... 191 9.12Power-to-Gas Hungary Kft. .......................................................................... 192 Company Overview ............................................................................ 192 Role of Power-to-Gas Hungary Kft. In Global Power-to-Gas Market .................................................................................................. 192 Product Portfolio ................................................................................ 192 9.9 All rights reserved at BIS Research 12

13. Global Power-to-Gas Market Strengths of Power-to-Gas Hungary Kft. in Global Power-to- Gas Market .......................................................................................... 193 Weaknesses of Power-to-Gas Hungary Kft. in Global Power- to-Gas Market ..................................................................................... 193 9.13Siemens AG ................................................................................................... 194 Company Overview ............................................................................ 194 Role of Siemans AG in Global Power-to-Gas Systems ................... 194 Product Portfolio ................................................................................ 195 Financials ............................................................................................ 195 Strengths of Siemens AG in Global Power-to-Gas Market ............. 198 Weaknesses of Siemens AG in Global Power-to-Gas Market ........ 198 9.14Southern California Gas Company (SoCalGas) .......................................... 199 Company Overview ............................................................................ 199 Role of Southern California Gas Company in Global Power-to- Gas Market .......................................................................................... 199 Product Portfolio ................................................................................ 200 Strengths of Southern California Gas Company in Global Power-to-Gas Market .......................................................................... 200 Weaknesses of Southern California Gas Company in Global Power-to-Gas Market .......................................................................... 200 9.15thyssenkrupp AG .......................................................................................... 201 Company Overview ............................................................................ 201 Role of thyssenkrupp AG in Global Power-to-Gas Market ............. 201 Product Portfolio ................................................................................ 202 Financials ............................................................................................ 202 Research and Development .............................................................. 206 Strengths of thyssenkrupp AG in Global Power-to-Gas Market .... 207 Weaknesses of thyssenkrupp AG in Global Power-to-Gas Market .................................................................................................. 207 9.16Uniper SE ....................................................................................................... 208 Company Overview ............................................................................ 208 Role of Uniper SE in Global Power-to-Gas Market .......................... 208 Product Portfolio ................................................................................ 209 Financials ............................................................................................ 209 Strengths of Uniper SE in Global Power-to-Gas Market ................. 212 All rights reserved at BIS Research 13

14. Global Power-to-Gas Market Weaknesses of Uniper SE in Global Power-to-Gas Market ............ 212 10. CXO’s Perspective .............................................................................................. 213 11. Report Scope and Methodology ........................................................................ 215 11.1Report Scope ................................................................................................. 215 11.2Global Power-to-Gas Market Research Methodology ................................ 216 Assumptions ....................................................................................... 217 Limitations .......................................................................................... 217 Primary Data Sources ........................................................................ 217 Secondary Data Sources ................................................................... 219 Data Triangulation .............................................................................. 219 Market Estimation and Forecast ....................................................... 221 All rights reserved at BIS Research 14

15. Global Power-to-Gas Market List of Tables List of Tables Table 1.1: Impact Analysis of Drivers ............................................................................................... 36 Table 1.2: Impact Analysis of Restraints .......................................................................................... 39 Table 1.3: Project Cost of Power-to-Gas Plants ............................................................................... 40 Table 3.1: Key Factors in Determining “Threat from New Entrants” in Power-to-Gas Market .......... 57 Table 3.2: Key Factors in Determining “Bargaining Power of Buyers” in the Power-to-Gas Market ............................................................................................................................ 58 Table 3.3: Key Factors in Determining “Bargaining Power of Suppliers” in Power-to-Gas Market ............................................................................................................................ 59 Table 3.4: Analyzing the Threat of Substitutes in Power-to-Gas Market .......................................... 60 Table 3.5: Key Factors in Determining “Rivalry Among Existing Firms” in Power-to-Gas Market ............................................................................................................................ 60 Table 3.6 List of Planned Power-to-Gas Project .............................................................................. 61 Table 4.1: Global Power-to-Gas Market (by Technology), Kilowatt, 2014-2024 ............................... 65 Table 4.2: Global Power-to-Gas Market (by Technology), Units, 2014-2024 ................................... 65 Table 4.3: Global Power-to-Gas Market (by Electrolysis Technology), Kilowatt, 2014-2024 ........... 66 Table 4.4: Global Power-to-Gas Market (by Electrolysis Technology), Units, 2014-2024 ................ 66 Table 4.5: Global Power-to-Gas Market (by Methanation Technology), Kilowatt, 2014-2024 ........ 69 Table 4.6: Global Power-to-Gas Market (by Methanation Technology), Units, 2014-2024 ............. 69 Table 4.7: Methanation Process Undertaken by Some Power-to-Gas Projects ............................... 70 Table 4.8: Methanation Process Undertaken by Some Power-to-Gas Projects ............................... 70 Table 5.1: Global Power-to-Gas Market (by Product), Kilowatt, 2014-2024 ..................................... 72 Table 5.2: Global Power-to-Gas Market (by Product), Units, 2014-2024 ......................................... 72 Table 6.1: National FCEV Targets (Units) ........................................................................................ 77 Table 6.2: National Hydrogen Fueling Station Targets (Units) ......................................................... 77 Table 8.1: Global Power-to-Gas Market (by Region), Kilowatt, 2014-2024 ...................................... 87 Table 8.2: Global Power-to-Gas Market (by Region), Units, 2014-2024 .......................................... 87 Table 8.3: Europe Power-to-Gas Market (by Electrolyzer Technology), Kilowatt, 2014-2024 ......... 88 Table 8.4: Europe Power-to-Gas Market (by Electrolyzer Technology), Units, 2014-2024 ............. 89 Table 8.5: Europe Power-to-Gas Market (by Methanation Technology), Kilowatt, 2014-2024 ........ 89 Table 8.6: Europe Power-to-Gas Market (by Methanation Technology), Units, 2014-2024 ............ 89 Table 8.7: Europe Power-to-Gas Market (by Product), Kilowatt, 2014-2024 .................................... 90 Table 8.8: Europe Power-to-Gas Market (by Product), Units, 2014-2024 ........................................ 90 Table 8.9: Europe Power-to-Gas Market (by Country), Kilowatt 2014-2024..................................... 91 Table 8.10: Europe Power-to-Gas Market (by Country), Units, 2014-2024 ...................................... 91 All rights reserved at BIS Research 15

16. Global Power-to-Gas Market Table 8.11: List of Power-to-Gas Plants in Germany ....................................................................... 92 Table 8.12: Germany Power-to-Gas Market (by Electrolyzer Technology), Kilowatt, 2014-2024 ...................................................................................................................... 98 Table 8.13: Germany Power-to-Gas Market (by Electrolyzer Technology), Units, 2014-2024 ........ 98 Table 8.14: Germany Power-to-Gas Market (by Methanation Technology), Kilowatt 2014-2024 ...................................................................................................................... 99 Table 8.15: Germany Power-to-Gas Market (by Methanation Technology), Units, 2014-2024 ....... 99 Table 8.16: Germany Power-to-Gas Market (by Product), Kilowatt, 2014-2024 ............................... 99 Table 8.17: Germany Power-to-Gas Market (by Product), Units, 2018-2024 ................................. 100 Table 8.18: List of Power-to-Gas Plants in France ......................................................................... 100 Table 8.19: France Power-to-Gas Market (by Electrolyzer Technology), Kilowatt 2014-2024 ....... 102 Table 8.20: France Power-to-Gas Market (by Electrolyzer Technology), Units, 2014-2024 .......... 102 Table 8.21: France Power-to-Gas Market (by Methanation Technology), Kilowatt, 2014-2024 .................................................................................................................... 102 Table 8.22: France Power-to-Gas Market (by Methanation Technology), Units, 2014-2024 ......... 103 Table 8.23: France Power-to-Gas Market (by Product), Kilowatt, 2014-2024 ................................ 103 Table 8.24: France Power-to-Gas Market (by Product), Units, 2014-2024..................................... 103 Table 8.25: List of Power-to-Gas Plants in Denmark ..................................................................... 104 Table 8.26: Denmark Power-to-Gas Market (by Electrolyzer Technology), Kilowatt 2014- 2024 ............................................................................................................................. 106 Table 8.27: Denmark Power-to-Gas Market (by Electrolyzer Technology), Units, 2014-2024 ...... 106 Table 8.28: Denmark Power-to-Gas Market (by Methanation Technology), Kilowatt 2014-2024 .................................................................................................................... 106 Table 8.29: Denmark Power-to-Gas Market (by Methanation Technology), Units, 2014-2024 ..... 107 Table 8.30: Denmark Power-to-Gas Market (by Product), Kilowatt, 2014-2024 ............................. 107 Table 8.31: Denmark Power-to-Gas Market (by Product), Units, 2014-2024 ................................. 107 Table 8.32: List of Power-to-Gas Plants in U.K. ............................................................................. 108 Table 8.33: U.K. Power-to-Gas Market (by Electrolyzer Technology), Kilowatt, 2014-2024 ........... 109 Table 8.34: U.K. Power-to-Gas Market (by Electrolyzer Technology), Units, 2014-2024 ............... 109 Table 8.35: U.K. Power-to-Gas Market (by Methanation Technology), Kilowatt, 2014-2024 .......... 109 Table 8.36: U.K. Power-to-Gas Market (by Methanation Technology), Units, 2014-2024 .............. 110 Table 8.37: U.K. Power-to-Gas Market (by Product), Kilowatt, 2014-2024 .................................... 110 Table 8.38: U.K. Power-to-Gas Market (by Product), Units, 2014-2024 ......................................... 110 Table 8.39: List of Power-to-Gas Plants in Switzerland .................................................................. 111 Table 8.40: Switzerland Power-to-Gas Market (by Electrolyzer Technology), Kilowatt, 2014-2024 ................................................................................................................... 112 All rights reserved at BIS Research 16

17. Global Power-to-Gas Market Table 8.41: Switzerland Power-to-Gas Market (by Electrolyzer Technology), Units, 2014-2024 .................................................................................................................... 112 Table 8.42: Switzerland Power-to-Gas Market (by Methanation Technology), Kilowatt, 2014-2024 .................................................................................................................... 113 Table 8.43: Switzerland Power-to-Gas Market (by Methanation Technology), Units, 2014-2024 .................................................................................................................... 113 Table 8.44: Switzerland Power-to-Gas Market (by Product), Kilowatt, 2014-2024 ......................... 113 Table 8.45: Switzerland Power-to-Gas Market (by Product), Units, 2014-2024 ............................. 113 Table 8.46: List of Power-to-Gas Plants in the Netherlands ........................................................... 114 Table 8.47: Netherlands Power-to-Gas Market (by Electrolyzer Technology), Kilowatt, 2014-2024 .................................................................................................................... 115 Table 8.48: Netherlands Power-to-Gas Market (by Electrolyzer Technology), Units, 2014-2024 .................................................................................................................... 115 Table 8.49: Netherlands Power-to-Gas Market (by Methanation Technology), Kilowatt, 2014-2024 .................................................................................................................... 115 Table 8.50: Netherlands Power-to-Gas Market (by Methanation Technology), Units, 2014-2024 .................................................................................................................... 116 Table 8.51: Netherlands Power-to-Gas Market (by Product), Kilowatt, 2014-2024 ........................ 116 Table 8.52: Netherlands Power-to-Gas Market (by Product), Units, 2014-2024 ............................ 116 Table 8.53: List of Power-to-Gas Plants in Rest-of-Europe ............................................................ 117 Table 8.54: Rest-of-Europe Power-to-Gas Market (by Electrolyzer Technology), Kilowatt, 2014-2024 .................................................................................................................... 120 Table 8.55: Rest-of-Europe Power-to-Gas Market (by Electrolyzer Technology), Units, 2014-2024 .................................................................................................................... 120 Table 8.56: Rest-of-Europe Power-to-Gas Market (by Methanation Technology), Kilowatt, 2014-2024 .................................................................................................................... 120 Table 8.57: Rest-of-Europe Power-to-Gas Market (by Methanation Technology), Units, 2014-2024 .................................................................................................................... 121 Table 8.58: Rest-of-Europe Power-to-Gas Market (by Product), Kilowatt, 2014-2024 .................. 121 Table 8.59: Rest-of-Europe Power-to-Gas Market (by Product), Units, 2014-2024 ....................... 121 Table 8.60: Asia-Pacific Power-to-Gas Market (by Electrolyzer Technology), Kilowatt, 2014-2024 .................................................................................................................... 122 Table 8.61: Asia-Pacific Power-to-Gas Market (by Electrolyzer Technology), Units, 2014-2024 .................................................................................................................... 122 Table 8.62: Asia-Pacific Power-to-Gas Market (by Methanation Technology), Kilowatt, 2014-2024 .................................................................................................................... 123 Table 8.63: Asia-Pacific Power-to-Gas Market (by Methanation Technology), Units, 2014-2024 .................................................................................................................... 123 All rights reserved at BIS Research 17

18. Global Power-to-Gas Market Table 8.64: Asia-Pacific Power-to-Gas Market (by Product), Kilowatt, 2014-2024 ......................... 123 Table 8.65: Asia-Pacific Power-to-Gas Market (by Product), Units, 2014-2024 ............................. 123 Table 8.66: Asia-Pacific Power-to-Gas Market (by Country), Kilowatt, 2014-2024......................... 124 Table 8.67: Asia-Pacific Power-to-Gas Market (by Country), Units, 2014-2024 ............................. 124 Table 8.68: List of Power-to-Gas Plants in China ........................................................................... 125 Table 8.69: China Power-to-Gas Market (by Electrolyzer Technology), Kilowatt, 2014-2024 ....... 125 Table 8.70: China Power-to-Gas Market (by Electrolyzer Technology), Units, 2014-2024 ............ 125 Table 8.71: China Power-to-Gas Market (by Methanation Technology), Kilowatt, 2014-2024 ...... 126 Table 8.72: China Power-to-Gas Market (by Methanation Technology), Units, 2014-2024 ........... 126 Table 8.73: China Power-to-Gas Market (by Product), Kilowatt, 2014-2024 .................................. 126 Table 8.74: China Power-to-Gas Market (by Product), Units, 2014-2024 ...................................... 126 Table 8.75: List of Power-to-Gas Plants in Japan .......................................................................... 128 Table 8.76: Japan Power-to-Gas Market (by Electrolyzer Technology), Kilowatt, 2014-2024 ....... 129 Table 8.77: Japan Power-to-Gas Market (by Electrolyzer Technology), Units, 2014-2024 ........... 129 Table 8.78: Japan Power-to-Gas Market (by Methanation Technology), Kilowatt, 2014-2024 ....... 130 Table 8.79: Japan Power-to-Gas Market (by Methanation Technology), Units, 2014-2024 .......... 130 Table 8.80: Japan Power-to-Gas Market (by Product), Kilowatt, 2014-2024.................................. 130 Table 8.81: Japan Power-to-Gas Market (by Product), Units, 2014-2024 ...................................... 130 Table 8.82: List of Power-to-Gas Plants in Australia ...................................................................... 131 Table 8.83: Australia Power-to-Gas Market (by Electrolyzer Technology), Kilowatt, 2014-2024 .................................................................................................................... 132 Table 8.84: Australia Power-to-Gas Market (by Electrolyzer Technology), Units, 2014-2024 ........ 132 Table 8.85: Australia Power-to-Gas Market (by Methanation Technology), Kilowatt, 2014-2024 .................................................................................................................... 132 Table 8.86: Australia Power-to-Gas Market (by Methanation Technology), Units, 2014-2024 ....... 132 Table 8.87: Australia Power-to-Gas Market (by Product), Kilowatt, 2014-2024 ............................. 133 Table 8.88: Australia Power-to-Gas Market (by Product), Units, 2014-2024 .................................. 133 Table 8.89: List of Power-to-Gas Plants in Rest-of-APAC.............................................................. 134 Table 8.90: Rest-of-Asia-Pacific Power-to-Gas Market (by Electrolyzer Technology), Kilowatt, 2014-2024 ..................................................................................................... 134 Table 8.91: Rest-of-Asia-Pacific Power-to-Gas Market (by Electrolyzer Technology), Units, 2014-2024 .................................................................................................................... 134 Table 8.92: Rest-of-Asia-Pacific Power-to-Gas Market (by Methanation Technology), Kilowatt, 2014-2024 ..................................................................................................... 135 Table 8.93: Rest-of-Asia-Pacific Power-to-Gas Market (by Methanation Technology), Units, 2014-2024 .................................................................................................................... 135 Table 8.94: Rest-of-Asia-Pacific Power-to-Gas Market (by Product), Kilowatt, 2014-2024 ........... 135 All rights reserved at BIS Research 18

19. Global Power-to-Gas Market Table 8.95: Rest-of-Asia-Pacific Power-to-Gas Market (by Product), Units, 2014-2024 ................ 135 Table 8.96: North America Power-to-Gas Market (by Electrolyzer Technology), Kilowatt, 2014-2024 .................................................................................................................... 136 Table 8.97: North America Power-to-Gas Market (by Electrolyzer Technology), Units, 2014-2024 .................................................................................................................... 136 Table 8.98: North America Power-to-Gas Market (by Methanation Technology), Kilowatt, 2014-2024 .................................................................................................................... 137 Table 8.99: North America Power-to-Gas Market (by Methanation Technology), Units, 2014-2024 .................................................................................................................... 137 Table 8.100: North America Power-to-Gas Market (by Product), Kilowatt, 2014-2024 ................... 137 Table 8.101: North America Power-to-Gas Market (by Product), Units, 2014-2024 ....................... 137 Table 8.102: North America Power-to-Gas Market (by Country), Kilowatt, 2014-2024 .................. 138 Table 8.103: North America Power-to-Gas Market (by Country), Units, 2014-2024 ....................... 138 Table 8.104: List of Power-to-Gas Plants in the U.S. ..................................................................... 139 Table 8.105: U.S. Power-to-Gas Market (by Electrolyzer Technology), Kilowatt, 2014-2024 ........ 139 Table 8.106: U.S. Power-to-Gas Market (by Electrolyzer Technology), Units, 2014-2024 ............ 140 Table 8.107: U.S. Power-to-Gas Market (by Methanation Technology), Kilowatt, 2014-2024 ....... 140 Table 8.108: U.S. Power-to-Gas Market (by Methanation Technology), Units, 2014-2024 ........... 140 Table 8.109: U.S. Power-to-Gas Market (by Product), Kilowatt, 2014-2024 .................................. 141 Table 8.110: U.S. Power-to-Gas Market (by Product), Units, 2014-2024 ....................................... 141 Table 8.111: List of Power-to-Gas Plants in Canada ..................................................................... 142 Table 8.112: Canada Power-to-Gas Market (by Electrolyzer Technology), Kilowatt, 2014-2024 .................................................................................................................... 142 Table 8.113: Canada Power-to-Gas Market (by Electrolyzer Technology), Units, 2014-2024 ...... 142 Table 8.114: Canada Power-to-Gas Market (by Methanation Technology), Kilowatt, 2014-2024 .................................................................................................................... 143 Table 8.115: Canada Power-to-Gas Market (by Methanation Technology), Units, 2014-2024 ..... 143 Table 8.116: Canada Power-to-Gas Market (by Product), Kilowatt, 2014-2024 ............................. 143 Table 8.117: Canada Power-to-Gas Market (by Product), Units, 2014-2024 ................................. 144 Table 8.118: Rest-of-the-World Power-to-Gas Market (by Electrolyzer Technology), Kilowatt, 2014-2024 ..................................................................................................... 144 Table 8.119: Rest-of-the-World Power-to-Gas Market (by Electrolyzer Technology), Units, 2014-2024 .................................................................................................................... 144 Table 8.120: Rest-of-the-World Power-to-Gas Market (by Methanation Technology), Kilowatt, 2014-2024 ..................................................................................................... 145 Table 8.121: Rest-of-the-World Power-to-Gas Market (by Methanation Technology), Units, 2014-2024 .................................................................................................................... 145 All rights reserved at BIS Research 19

20. Global Power-to-Gas Market Table 8.122: Rest-of-the-World Power-to-Gas Market (by Product), Kilowatt, 2014-2024 ............. 145 Table 8.123: Rest-of-the-World Power-to-Gas Market (by Product), Units, 2014-2024 .................. 146 Table 8.124: List of Power-to-Gas Plants in Middle East and Africa .............................................. 146 Table 8.125: Middle East and Africa Power-to-Gas Market (by Electrolyzer Technology), Kilowatt, 2014-2024 ..................................................................................................... 147 Table 8.126: Middle East and Africa Power-to-Gas Market (by Electrolyzer Technology), Units, 2014-2024 .......................................................................................................... 147 Table 8.127: Middle East and Africa Power-to-Gas Market (by Methanation Technology), Kilowatt, 2014-2024 ..................................................................................................... 147 Table 8.128: Middle East and Africa Power-to-Gas Market (by Methanation Technology), Units, 2014-2024 .......................................................................................................... 148 Table 8.129: Middle East and Africa Power-to-Gas Market (by Product), Kilowatt, 2014-2024 ...... 148 Table 8.130: Middle East and Africa Power-to-Gas Market (by Product), Units, 2014-2024 .......... 148 Table 8.131: List of Power-to-Gas Plants in South America ........................................................... 149 Table 8.132: South America Power-to-Gas Market (by Electrolyzer Technology), Kilowatt, 2014-2024 .................................................................................................................... 149 Table 8.133: South America Power-to-Gas Market (by Electrolyzer Technology), Units, 2014-2024 .................................................................................................................... 149 Table 8.134: South America Power-to-Gas Market (by Methanation Technology), Kilowatt, 2014-2024 .................................................................................................................... 150 Table 8.135: South America Power-to-Gas Market (by Methanation Technology), Units, 2014-2024 .................................................................................................................... 150 Table 8.136: South America Power-to-Gas Market (by Product), Kilowatt, 2014-2024 .................. 150 Table 8.137: South America Power-to-Gas Market (by Product), Units, 2014-2024 ...................... 150 All rights reserved at BIS Research 20

21. Global Power-to-Gas Market List of List of Figures Figures Figure 1: Supply Chain of Power-to-Gas .......................................................................................... 27 Figure 2: The Valley of Death Scenario of Power-to-Gas ................................................................ 28 Figure 3: Global Power-to-Gas Market Overview, 2018-2024 .......................................................... 29 Figure 4: Global Power-to-Gas Market (by Product Type), 2018 to 2024......................................... 30 Figure 5: Global Power-to-Gas Market Analysis (by Electrolysis Technology) ................................. 31 Figure 6: Global Power-to-Gas Market Analysis (by Methanation Technology) ............................... 32 Figure 7: Global Power-to-Gas Market (by Region), 2018 ............................................................... 33 Figure 1.1: Market Dynamics: Global Power-to-Gas Market ............................................................ 35 Figure 1.2: Primary Energy Consumption by Region (2010-2018) ................................................... 36 Figure 2.1: Share of Key Market Strategies and Developments, 2015-2020.................................... 44 Figure 2.2: Key Business Expansion Activities (2015-2020) ............................................................ 46 Figure 2.3: Partnership, Collaborations, and Contracts (2015-2020) ............................................... 47 Figure 2.4: Investment and Funding (2015-2020) ............................................................................ 48 Figure 2.5: Mergers, Acquisitions and Joint Ventures (2015-2020) .................................................. 49 Figure 2.6: Product Launches (2015-2020) ...................................................................................... 50 Figure 2.7: Other Key Developments (2015-2020) .......................................................................... 51 Figure 3.1: Year-Wise Patents Filed for Power-to-Gas Market, 2013-2019 ..................................... 52 Figure 3.2: Patent Analysis (by Purpose), 2013 to 2019 .................................................................. 53 Figure 3.3: Patent Analysis (by Status), 2013 to 2019 ..................................................................... 53 Figure 3.4: Patent Analysis (by Country), 2013 to 2019 ................................................................... 54 Figure 3.5: Patent Analysis (by Company), 2013 to 2019 ................................................................ 55 Figure 3.6: Global Power-to-Gas Market Supply Chain ................................................................... 56 Figure 3.7: Porters Five Forces Analysis ......................................................................................... 57 Figure 4.1: Technologies Used in the Power-to-Gas Market ............................................................ 65 Figure 5.1: Different Products in the Power-to-Gas Market .............................................................. 71 Figure 6.1: End-Users in the Power-to-Gas Market ......................................................................... 74 Figure 7.1: Comparison of Current and Anticipated Efficiency and Investment Cost of Different Technologies ................................................................................................... 81 Figure 7.2: Cost Development of Electrolysis Systems Related to Scaling and Technological Learning ......................................................................................................................... 82 Figure 7.3: Cost Development of Methanation Systems Related to Scaling Effects and Technological Learning .................................................................................................. 83 Figure 8.1: Global Power-to-Gas Market – Regional Segmentation ................................................. 86 Figure 9.1: Aquahydrex, Inc.: Product Portfolio .............................................................................. 152 All rights reserved at BIS Research 21

22. Global Power-to-Gas Market Figure 9.2: Electrochaea GmbH: Product Portfolio ........................................................................ 155 Figure 9.3: EXYTRON GmbH: Product Portfolio ............................................................................ 156 Figure 9.4: Hitachi Zosen Corporation: Product Portfolio ............................................................... 159 Figure 9.5: Hitachi Zosen Corporation: Overall Financials, 2016-2018 .......................................... 160 Figure 9.6: Hitachi Zosen Corporation: Net Revenue (by Region), 2016-2018 .............................. 161 Figure 9.7: Hitachi Zosen Corporation: Net Revenue (by Business Segment), 2016-2018 ............ 161 Figure 9.8: Research and Development: 2016-2018 ..................................................................... 162 Figure 9.9: Hydrogenics Corporation: Product Portfolio ................................................................. 165 Figure 9.10: Hydrogenics Corporation: Overall Financials, 2016-2018 .......................................... 167 Figure 9.11: Hydrogenics Corporation: Net Revenue (by Region), 2016-2018 .............................. 168 Figure 9.12: Hydrogenics Corporation: Net Revenue (by Business Segment), 2016-2018 ............ 169 Figure 9.13: Research and Development: 2016-2018................................................................... 169 Figure 9.14: ITM Power PLC: Product Portfolio ............................................................................. 172 Figure 9.15: ITM Power PLC: Overall Financials, 2017-2019 ........................................................ 173 Figure 9.16: ITM Power PLC: Net Revenue (by Region), 2018-2019 ............................................ 174 Figure 9.17: ITM Power PLC: Net Revenue (by Region), 2017 ..................................................... 174 Figure 9.18: ITM Power PLC: Net Revenue (by Business Segment), 2017-2019 .......................... 175 Figure 9.19: Research and Development: 2017-2019.................................................................... 176 Figure 9.20: MAN Energy Solutions: Product Portfolio ................................................................... 178 Figure 9.21: McPhy Energy S.A.: Overall Product Portfolio ........................................................... 181 Figure 9.22: McPhy Energy S.A.: Overall Financials, 2016-2018 ................................................... 182 Figure 9.23: MicroPyros GmbH: Product Portfolio ......................................................................... 185 Figure 9.24: Nel ASA: Product Portfolio ......................................................................................... 187 Figure 9.25: Nel ASA: Overall Financials, 2016-2018 .................................................................... 189 Figure 9.26: Nel ASA: Net Revenue (by Region), 2017 and 2018 ................................................. 189 Figure 9.27: Nel ASA: Net Revenue (by Region), 2016 ................................................................. 190 Figure 9.28: Nel ASA: Net Revenue (by Business Segment), 2016-2018 ...................................... 191 Figure 9.29: Power-to-Gas Hungary Kft.: Product Portfolio ............................................................ 192 Figure 9.30: Siemens AG: Product Portfolio .................................................................................. 195 Figure 9.31: Siemens AG: Overall Financials, 2016-2018 ............................................................. 196 Figure 9.32: Siemens AG: Net Revenue (by Region), 2016-2018 ................................................. 196 Figure 9.33: Siemens AG: Net Revenue (by Business Segment), 2016-2018 ............................... 197 Figure 9.34: Southern California Gas Company: Product Portfolio ................................................ 200 Figure 9.35: thyssenkrupp AG: Product Portfolio ........................................................................... 202 Figure 9.36: thyssenkrupp AG: Overall Financials, 2017-2019 ...................................................... 203 Figure 9.37: thyssenkrupp AG: Net Revenue (by Region), 2017-2019 .......................................... 204 All rights reserved at BIS Research 22

23. Global Power-to-Gas Market Figure 9.38: thyssenkrupp AG: Net Revenue (by Business Segment), 2018 and 2019 ................. 205 Figure 9.39: thyssenkrupp AG: Net Revenue (by Business Segment), 2017 ................................. 206 Figure 9.40: Research and Development, 2017-2019.................................................................... 206 Figure 9.41: Uniper SE: Product Portfolio ...................................................................................... 209 Figure 9.42: Uniper SE: Overall Financials, 2016-2018 ................................................................. 210 Figure 9.43: Uniper SE: Net Revenue (by Region), 2016-2018 ..................................................... 210 Figure 9.44: Uniper SE: Net Revenue (by Business Segment), 2016-2018 ................................... 211 Figure 11.1: Global Power-to-Gas Market Coverage ..................................................................... 215 Figure 11.2: Segmentations for Market Estimation in the Global Power-to-Gas Market ................. 216 Figure 11.3: Report Design ............................................................................................................ 216 Figure 11.4: Primary Interviews (by Player, Designation, and Region) .......................................... 218 Figure 11.5: Data Triangulation ...................................................................................................... 220 Figure 11.6: Top-Down and Bottom-Up Approach ......................................................................... 221 All rights reserved at BIS Research 23

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