Green Ammonia Market

Market Leaders - Green Ammonia Market

The global green ammonia market size is projected to grow from USD 16 million in 2021 and is projected to reach USD 5,415 million by 2030, at a CAGR of 90.2% during the forecast period.. Green ammonia is green hydrogen synthesized with nitrogen in an electrochemical Haber-Bosch system. Green ammonia is completely carbon-free ammonia. Electrolyzers are used in green hydrogen production and work in an alkaline water medium or proton exchange membrane or solid oxide medium. These electrolyzers use electricity derived from renewable sources, such as solar, wind, and tidal, to produce green hydrogen.

The Green Ammonia market has thousands of companies which thrive in their domestic market. A few of the major technology providers in the green ammonia market are Siemens (Germany), NEL Hydrogen (Norway), ThyssenKrupp (Germany), ITM Power (UK), and McPhy Energy (France). These players have adopted various growth strategies, such as mergers & acquisitions, investments & expansions, agreements, partnerships & joint ventures, and new product developments, to increase their market shares and enhance their product portfolios.

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Acquisitions and joint ventures accounted for the largest share of all the strategic developments that took place in the green ammonia market between 2018 and 2021. Key players such as Siemens (Germany), NEL Hydrogen (Norway), ThyssenKrupp (Germany), ITM Power (UK), and McPhy Energy (France), adopted this strategy to enhance their business, market presence, to develop new products and meet consumer demand.

Siemens Energy is one of the leaders in renewable energy providing various products, solutions, and services for power generation. The products are offered for a wide range of industries, namely, oil & gas, marine, fiber, water treatment, on- and off-shore, food & beverages, minerals and metals, and various others. The company has a presence in Europe, Americas, Middle East & Africa, and Asia. Siemens Energy also develops new technologies in the field of decarbonized energy systems including power-to-X solutions to enable economy in green hydrogen. It has been focusing on various strategic developments such as agreements and expansions. The company has a strong focus on research & development which strengthens its position in the green ammonia market as one of the major players.

MAN Energy Solutions is one of the producers of large-bore diesel engines and turbomachinery, offering two-stroke and four-stroke engines for marine and stationary applications, turbochargers and propellers, gas and steam turbines, compressors, and chemical reactors. In addition, the company provides various energy and storage solutions which are specific to various utilities and industries. The MAN power-to-X is the key energy storage solution offered by the company which is majorly used by utilities and other end users. MAN Energy Solutions conducts its operations at over 120 sites globally. The company has a strong focus on strategic developments such as product launches. For instance, in January 2019 MAN Energy Solutions developed an ammonia-fueled two-stroke engine for the marine market.

Related Reports:

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

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Report Code
EP 7700
RI Published ON
1/10/2022
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