ThyssenKrupp AG (Germany) and YARA International (Norway) are leading players in Green Ammonia Market
The green ammonia market is expected to grow from an estimated in USD 0.3 billion in 2023 to USD 17.9 billion by 2030, at a CAGR of 72.9% during the forecast period. Rising investment in renewable energy projects and a decline in power generation cost is expected to drive the market.
A few major players that have a wide regional presence dominate the green ammonia market. The leading players in the green ammonia market include Siemens Energy (Germany), NEL ASA (Norway), ThyssenKrupp AG (Germany), ITM Power (UK), YARA International (Norway), BASF SE (Germany), and others.
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The major strategies adopted by these players include product launches and new product development, contracts & agreements, investments & expansions, joint ventures, and partnerships & collaborations. Partnerships and collaborations were the two most adopted strategies from 2018 to 2023.
Yara International is a leading global chemical company producing nitrogen fertilizers, nitrates, ammonia, urea, and other nitrogen-based chemicals. The company operates through three business segments: Fertilizer and Chemical Products, Freight/Insurance Services, and Other Products and Services. The company produces ammonia, nitrates, and NPK fertilizers containing nitrogen, phosphorus, and potassium. Yara Clean Ammonia, a decarbonization-focused subsidiary of Yara International, works toward capturing growth opportunities in low-emission fuel for shipping and power, carbon-free food production, and ammonia for industrial applications. The company has sales operations in more than 60 countries and 28 production plants. It has over 200 terminals, warehouses, blending plants, and bagging facilities.
ThyssenKrupp AG is an international group of companies comprising largely independent industrial and technology businesses. The company operates through six business segments: Materials Services, Industrial Components, Automotive Technology, Steel Europe, Marine Systems, and Multi Tracks. The Multi Tracks segment deals with various businesses, from plant engineering to automotive supplies. Vertical investments and businesses for which the company is considering various ownership structures in the short-to-medium term are held by ThyssenKrupp through the Multi Tracks division. This could be a complete or partial sale or the continuation of a business with one or more external partners. ThyssenKrupp Uhde, a company established in partnership with Avril, Axens, CEA, IFPEN, ThyssenKrupp Industrial Solutions, and Total Energies, falls under the Multi Tracks segment. Uhde offers alkaline water electrolysis technology to produce sustainable aviation fuel, ammonia, hydrogen. ThyssenKrupp AG has manufacturing plants in France and Europe. The company is operational in Asia Pacific, the Americas, Europe, the Middle East, and Africa.
Related Reports:
Green Ammonia Market by Technology (Alkaline Water Electrolysis (AWE), Proton Exchange Membrane (PEM) Electrolysis, Solid Oxide Electrolysis), End-Use Application (Transportation, Power Generation, Industrial Feedstock) & Region - Global Forecast to 2030
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