Japan Power-to-x Market Size & Outlook, 2024-2030
Japan power-to-x market, 2018-2030 (US$M)
Related Markets
Japan power-to-x market highlights
- The Japan power-to-x market generated a revenue of USD 12.5 million in 2024 and is expected to reach USD 28.2 million by 2030.
- The Japan market is expected to grow at a CAGR of 14.9% 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 12.5 million |
| Market revenue in 2030 | USD 28.2 million |
| Growth rate | 14.9% (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, Japan accounted for 3.6% 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 51.2% in 2024. Horizon Databook has segmented the Japan 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.
Japan's drive to reduce carbon emissions has led to a surge in interest in sustainable energy solutions, particularly in the production of green hydrogen and e-fuels. This focus is part of a broader effort to transition away from fossil fuels and embrace cleaner energy alternatives.
As these technologies become more critical for decarbonizing industries, such as transportation, they are gaining increased preference and attracting investments. Consequently, PtX technologies are becoming more prominent in Japan's energy strategy.
For instance, in September 2022, INERATEC GmbH, a clean tech company based in Germany, partnered with Chiyoda Corporation of Japan to make a foray into the Japanese market and the broader Asia Pacific market by promoting joint e-fuel projects using INERATEC GmbH's PtX technology.
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Power-to-X Market Scope
Power-to-X Market Companies
| Name | Profile | # Employees | HQ | Website |
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Japan power-to-x market size, by technology, 2018-2030 (US$M)
Japan Power-to-X Market Outlook Share, 2024 & 2030 (US$M)
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