$852 Million Worldwide Green Ammonia Industry to 2030 - Increasing Focus On Hydrogen-Based Economy Presents Opportunities
Jul 24, 2020, 08:30 ET
DUBLIN, July 24, 2020 /PRNewswire/ -- The "Green Ammonia Market by Technology (Alkaline Water Electrolysis (AWE), Proton Exchange Membrane (PEM), and Solid Oxide Electrolysis (SOE)), End User (Transportation, Power Generation, and Industrial Feedstock), and Region - Global Forecast to 2030" report has been added to ResearchAndMarkets.com's offering.
The green ammonia market was valued at USD 17 million in 2019 and is projected to reach USD 852 million by 2030, at a CAGR of 54.9% during the forecast period.
Rising obligations to reduce greenhouse gas emissions from traditional ammonia methods have driven the global green ammonia market growth. Furthermore, increased agriculture production and subsequent rise in fertilizer consumption is driving the green ammonia market. However, higher initial capital requirements for green ammonia plant infrastructures is likely to hamper the growth of green ammonia market.
The power generation segment, by end-user, is expected to be the largest and the fastest-growing market from 2020 to 2030
The end-user segment is categorized as transportation, power generation, and industrial feedstock. The power generation segment is expected to grow at the highest CAGR during the forecast period, as electricity generated by using green ammonia is observed to be the cleaner version of gas. By using the electrolysis process, surplus renewable energy generated at isolated locations can be used to produce carbon-free ammonia, which can act as a sustainable fuel for power generation. Furthermore, the need for long term storage of renewable energy generated at isolated wind farms and solar panels drives the growth of green ammonia market. Europe is expected to hold the largest power generation market. This growth is owing to the favourable government initiatives and plans to produce green ammonia in the Netherlands.
The Solid Oxide Electrolysis segment, by technology, is expected to be the fastest-growing market from 2020 to 2030
The SOE segment is expected to be the fastest-growing technology sub-segment during the forecast period, owing to the increasing demand for fuel cells. The SOE process is used to produce green hydrogen from surplus electricity generated from renewable sources. Such green hydrogen can be synthesised further in ammonia synthesis plant to produce green ammonia by using SOE technology. Moreover, the green hydrogen produced by the process can be stored and used as a fuel cell, and reconverted into electricity again when the demand arises. This allows the storage of electricity when production exceeds demand. This is driving the growth of the SOE segment in the global green ammonia market. Europe is projected to hold the largest SOE market by 2030, owing to the rising demand for fuel cells in Germany.
Europe: The largest and the fastest-growing region in the green ammonia market
Europe is expected to dominate the global green ammonia market between 2020 and 2030. The increasing number of fuel cell projects and European government initiatives for the deployment of fuel cells in the residential and commercial sectors are likely to provide growth opportunities for the growth of the green ammonia market in the region. Fuel cells are an efficient and clean energy alternative, which has the potential to address the energy challenges of the region. The Fuel Cells and Hydrogen Joint Undertaking is the primary body that supports R&D for fuel cell and hydrogen technologies in Europe.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Attractive Opportunities in Green Ammonia Market
4.2 Green Ammonia Market, by Technology
4.3 Green Ammonia Market, by End User
4.4 Green Ammonia Market, by Region
4.5 Europe Green Ammonia Market, by End User & Country
5 Market Overview
5.1 Introduction
5.2 Covid-19 Health Assessment
5.3 Road to Recovery
5.4 Covid-19 Economic Assessment
5.5 Market Dynamics
5.5.1 Drivers
5.5.1.1 Demand for Long-Term Storage of Renewable Energy
5.5.1.2 Obligations to Reduce Greenhouse Emissions from Traditional Ammonia Methods
5.5.1.3 Increased Agricultural Production and Subsequent Rise in Fertilizers Consumption
5.5.2 Restraint
5.5.2.1 Higher Initial Capital Requirements for Green Ammonia Plant Infrastructure
5.5.3 Opportunities
5.5.3.1 Ammonia as Maritime Fuel
5.5.3.2 Increasing Focus On Hydrogen-Based Economy
5.5.4 Challenges
5.5.4.1 Low Awareness About Green Ammonia
6 Global Green Ammonia Market, by Technology
6.1 Introduction
6.2 Alkaline Water Electrolysis (Awe)
6.2.1 Low Capital Cost of Alkaline Water Electrolysis Systems Drives Market Growth
6.3 Proton Exchange Membrane (Pem)
6.3.1 High-Purity Hydrogen Produced by PEM Process Drives Market Growth
6.4 Solid Oxide Electrolysis (Soe)
6.4.1 Increasing Demand for Fuel Cells Boosts Demand for Solid Oxide Electrolysis
7 Global Green Ammonia Market, by End User
7.1 Introduction
7.2 Transportation
7.2.1 Adoption of Fuel Cell in Transportation Drives Green Ammonia Market
7.3 Power Generation
7.3.1 Need for Long-Term Storage of Renewable Energy Generated at Isolated Wind Farms and Solar Panels Drives Growth of Green Ammonia Market
7.4 Industrial Feedstock
7.4.1 Increasing Demand for Food Products Drives Demand for Green Fertilizers
8 Global Green Ammonia Market, by Region
8.1 Introduction
8.2 Europe
8.3 Asia Pacific
8.4 North America
8.5 Rest of the World
9 Competitive Landscape
9.1 Overview
9.2 Industry Concentration, 2019
9.3 Competitive Scenario
9.3.1 Product Launches
9.3.2 Contracts & Agreements
9.3.3 Partnerships/Joint Ventures/Collaborations
9.4 Winners Vs. Tail-Enders
9.4.1 Winners
9.4.2 Tail Enders
10 Company Profiles
10.1 Technology Providers
10.1.1 Siemens
10.1.2 Man Energy Solutions
10.1.3 NEL Hydrogen
10.1.4 Thyssenkrupp
10.1.5 ITM Power
10.1.6 Green Hydrogen Systems
10.1.7 MCPHY Energy
10.1.8 Electrochaea
10.1.9 Hydrogenics
10.1.10 Aquahydrex
10.1.11 Exytron
10.1.12 Uniper
10.1.13 Enapter
10.1.14 Starfire Energy
10.1.15 Engie
10.2 Chemical Providers
10.2.1 Yara International
10.2.2 BASF
10.2.3 Queensland Nitrates
10.3 Ammonia Plant Epc Companies
10.3.1 Haldor Topsoe
10.3.2 Hiringa Energy
11 Appendix
11.1 Insights of Industry Experts
11.2 Discussion Guide
11.3 Knowledge Store: Subscription Portal
11.4 Available Customizations
11.5 Related Reports
11.6 Author Details
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