Market revenue in 2024 | USD 74.8 million |
Market revenue in 2030 | USD 141.3 million |
Growth rate | 11.5% (CAGR from 2025 to 2030) |
Largest segment | Power-to-h2 |
Fastest growing segment | Power-to-Methanol |
Historical data covered | 2018 - 2023 |
Base year for estimation | 2024 |
Forecast period covered | 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 |
Power-to-h2 was the largest segment with a revenue share of 49.33% in 2024. Horizon Databook has segmented the North America 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 North America, the Power-to-X (PtX) market is expanding rapidly due to a combination of supportive government policies and private sector investments. Supportive government policies are creating a favorable environment for the increased adoption of PtX technologies, which are considered essential for achieving ambitious climate targets and reducing greenhouse gas emissions.
For instance, in the U.S., federal and state incentives, such as those provided by the Inflation Reduction Act, are driving the development of hydrogen technologies and other PtX applications. Similarly, in Canada, the Hydrogen Strategy for Canada and investments in renewable energy infrastructure are encouraging the adoption of PtX technologies.
Increasing private sector investments in projects and technologies to improve the efficiency and scalability of PtX solutions also bode well for the growth of the regional market. Both energy and technology companies are working on scaling up hydrogen production, enhancing electrolyzer technologies, and developing infrastructure for hydrogen storage and transport.
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