Australia Power-to-x Market Size & Outlook, 2024-2030
Australia power-to-x market, 2018-2030 (US$M)
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Australia power-to-x market highlights
- The Australia power-to-x market generated a revenue of USD 16.1 million in 2024 and is expected to reach USD 33.5 million by 2030.
- The Australia market is expected to grow at a CAGR of 13.3% from 2025 to 2030.
- In terms of segment, power-to-h2 was the largest revenue generating technology in 2024.
- Power-to-Methanol is the most lucrative technology segment registering the fastest growth during the forecast period.
Power-to-x market data book summary
| Market revenue in 2024 | USD 16.1 million |
| Market revenue in 2030 | USD 33.5 million |
| Growth rate | 13.3% (CAGR from 2025 to 2030) |
| Largest segment | Power-to-h2 |
| Fastest growing segment | Power-to-Methanol |
| Historical data | 2018 - 2023 |
| Base year | 2024 |
| Forecast period | 2025 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Power-to-H2, Power-to-CO/Syngas/Formic Acid, Power-to-NH3, Power-to-Methane, Power-to-Methanol, Power-to-H202 |
| Key market players worldwide | Air Liquide SA, Alfa Laval AB, Copenhagen Infrastructure Partners, Engie SA, ITM Power PLC, Linde PLC, Mitsubishi Corp, Siemens Energy, Thyssenkrupp AG, Valmet Corp |
Other key industry trends
- In terms of revenue, Australia accounted for 4.6% of the global power-to-x market in 2024.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China power-to-x market is projected to lead the regional market in terms of revenue in 2030.
- South Korea is the fastest growing regional market in Asia Pacific and is projected to reach USD 4.4 million by 2030.
Power-to-h2 was the largest segment with a revenue share of 51.55% in 2024. Horizon Databook has segmented the Australia power-to-x market based on power-to-h2, power-to-co/syngas/formic acid, power-to-nh3, power-to-methane, power-to-methanol, power-to-h202 covering the revenue growth of each sub-segment from 2018 to 2030.
In Australia, relatively higher penetration of renewable energy sources, especially solar and wind, often results in excess electricity production. PtX technologies can convert this surplus energy into other forms, such as hydrogen, which can be stored and used when needed, help in balancing the grid, and enable the decarbonization of hard-to-abate industries.
Moreover, PtX can also open opportunities for Australia to export green hydrogen, strengthening its position in the global clean energy market. PtX technologies can fuel local industrial establishments, provide energy to remote areas, and facilitate the transition to cleaner energy sources across various industries.
By converting surplus renewable energy into hydrogen or other synthetic fuels, PtX can enable industries to reduce their carbon footprint and improve energy efficiency. It can also ensure a reliable energy supply for areas that are not connected to the main grid, contributing to a more resilient and sustainable energy system beneficial for both local communities and the broader economy.
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Power-to-X Market Scope
Power-to-X Market Companies
| Name | Profile | # Employees | HQ | Website |
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Australia power-to-x market size, by technology, 2018-2030 (US$M)
Australia Power-to-X Market Outlook Share, 2024 & 2030 (US$M)
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