Emphasis on Technology (Alkaline Water Electrolysis, Proton Exchange Membrane Electrolysis, and Solid Oxide Electrolysis); and End User (Transportation, Power Generation, Industrial Feedstock, and Others)
The India Green Ammonia was valued at USD 0.4 Million and is expected to grow at a robust CAGR of around 101.5% during the forecast period (2024-2032). Owing to rising investment in renewable energy.
India’s green ammonia market is currently in the nascent stages of development. In addition, there are no demand-side mandates to support its uptake. Catalyzing the development of the green ammonia market can help accelerate India’s decarbonization and enable it to achieve its energy independence goals. Therefore, demand for green ammonia would initially be driven by supportive government policies and technological adoption. In August 2021, India announced the National Hydrogen Mission, a key pillar of its government’s plan for India to achieve energy independence within 25 years. India spends US $164 billion annually to meet its energy requirements, with the vast majority spent on oil, gas, and coal imports. Further, India is taking steps towards achieving its goal of net-zero carbon emissions by 2070 by emphasizing Green Hydrogen as a potential solution. The country recently announced its Green Hydrogen Policy, which is expected to boost the sector significantly.
This section discusses the key market trends influencing the various segments of India’s Green Ammonia, as identified by our research experts.
Growing consumption of fertilizers
The global population is proliferating; therefore, there is a need to increase agricultural production to fulfill the food requirements of the growing population. The use of chemical fertilizers to enhance agricultural production has become a widespread practice across the globe. Furthermore, demand for organic and environmentally friendly fertilizers is also rising. Organic fertilizers are formulated with natural plant residues and waste, animal manures & excreta, micro-organisms, and botanical extracts to enhance agricultural production. Therefore, factors such as the growing need to increase farm output and awareness about the harmful effects of chemical inputs and the benefits of organic fertilizers augment the consumption of various environment-friendly fertilizers.
India is Expected to Grow with Significant CAGR During Forecast Period
India has declared the goal to achieve Net Zero emissions by 2070. As India’s growth story unfolds, its demand for energy and resources is set to rise. Energy use has doubled in the last 20 years and is likely to grow by at least 25% by 2030. India imports over 40% of its primary energy requirements, worth over USD 90 billion annually. India introduced a national green hydrogen mission in 2022. The overarching objective of the Mission is to make India the Global Hub for the production, usage, and export of Green Hydrogen and its derivatives. This will contribute to India’s aim to become Aatmanirbhar (self-reliant) through clean energy and inspire the global Clean Energy Transition. The Mission will lead to significant decarbonization of the economy, reduce dependence on fossil fuel imports, and enable India to assume technology and market leadership in Green Hydrogen. To achieve the above objectives, the Mission will build capabilities to produce at least 5 million Metric tonnes (MMT) of Green Hydrogen per annum by 2030, with the potential to reach 10 MMT per annum with the growth of export markets. The Mission will support the replacement of fossil fuels and fossil fuel-based feedstocks with renewable fuels and feedstocks based on Green Hydrogen. This will include the replacement of Hydrogen produced from fossil fuel sources with Green Hydrogen in ammonia production and petroleum refining, the blending of Green Hydrogen in City Gas Distribution systems, the production of steel with Green Hydrogen, and the use of Green Hydrogen-derived synthetic fuels (including Green Ammonia, Green Methanol, etc.) to replace fossil fuels in various sectors including mobility, shipping, and aviation. The Mission also aims to make India a leader in the technology and manufacturing of electrolyzers and other enabling technologies for Green Hydrogen.
India Green Ammonia is competitive and fragmented, with several global and international players. The key players are adopting different growth strategies to enhance their market presence, such as partnerships, agreements, collaborations, new product launches, geographical expansions, and mergers and acquisitions. Some of the major players operating in the market are Siemens, ThyssenKrupp, Nel Hydrogen, Green Hydrogen Systems, MAN Energy Solutions, Uniper, BASF, Enapter, ENGIE, Hiringa Energy, BASF, Enaex SA, and JGC Holding Corporation.
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1. Market Introduction
2. Research Methodology Or Assumption
3. Market Synopsis
4. Executive Summary
5. India Green Ammonia Market Revenue (usd Mn), 2022-2032f
6. Market Insights By Technology
7. Market Insights By End-user
8. India Green Ammonia Market Dynamics
9. India Green Ammonia Market Opportunities
10. India Green Ammonia Market Trends
11. Value Chain Analysis
12. Legal And Regulatory Framework
13. Demand And Supply-side Analysis
14. Competitive Scenario
15. Company Profiled
16. Disclaimer
Analyzing the historical market, estimating the current market, and forecasting the future market of the India Green Ammonia market were the three significant steps undertaken to create and analyze the adoption of India Green Ammonia in India. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, numerous findings and assumptions were taken into consideration to validate these insights. Moreover, exhaustive primary interviews were also conducted with industry experts across the value chain of the India Green Ammonia market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. After that, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry. Detailed methodology is explained below:
Step 1: In-Depth Study of Secondary Sources:
A detailed secondary study was conducted to obtain the historical market size of the India Green Ammonia market through company internal sources such as annual reports and financial statements, performance presentations, press releases, etc., and external sources including journals, news and articles, government publications, competitor publications, sector reports, third-party databases, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the India Green Ammonia market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments and sub-segments. Major segments are included in the report, such as technology and end-users. Further state-level analyses were conducted to evaluate the overall adoption of testing models in India.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the India Green Ammonia market. Further, we performed factor analysis using dependent and independent variables such as technology and end-users of the India Green Ammonia market. A thorough study was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the India Green Ammonia market.
Current Market Sizing: Based on actionable insights from the above three steps, we arrived at the current market size, key players in the India Green Ammonia market, and market shares of the segments. All the required percentage share splits and market breakdowns were determined using the above-mentioned secondary approach and verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques, i.e., the top-down/bottom-up approach, were applied to arrive at the market forecast for 2032 for different segments and sub-segments across the major markets. The research methodology adopted to estimate the market size encompasses:
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs), including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across significant states. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Primary research input was consolidated with secondary findings, hence turning information into actionable insights.
Market Engineering
The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the India Green Ammonia market. Data was split into several segments and sub-segments after studying various parameters and trends in the technology and end-user areas of the India Green Ammonia market.
The current & future market trends of the India Green Ammonia market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:
Q1: What is India Green Ammonia's current market size and growth potential?
Q2: What are the driving factors for the growth of India's Green Ammonia?
Q3: Which segment has the largest share of India's Green Ammonia by Technology?
Q4: What are the emerging technologies and trends in India's Green Ammonia?
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February 11, 2025
