Emphasis on Technology (Alkaline Electrolyzer, PEM Electrolyzer, and SO Electrolyzer); End User (Transport, Power Generation, Industrial, and Others); and Country
The Europe Green Ammonia was valued at USD 36.7 Million and is expected to grow at a strong CAGR of around 77.2% during the forecast period (2024-2032) owing to rising investment in renewable energy.
Europe is one of the major regions in the Green Ammonia market with a CAGR of 77.2% from 2024-32F. This is because of the increasing awareness among people about sustainable living and additionally, government initiatives are driving the Green Ammonia market in the region. For instance, The EU hydrogen strategy aims to create at least 6 GW of electrolyzer capacity by 2024, enough to produce up to 1 Mt/yr of green hydrogen. In addition, the company HEGRA (co-owned by Yara, Aker Clean Hydrogen, and Statkraft), aims to electrify and decarbonize the ammonia plant at Herøya (Norway), enabling large-scale green ammonia production. Furthermore, this project will reduce CO2 emissions by 800,000 tonnes annually, equivalent to 300,000 fossil-fueled cars. With this, the company marks the beginning of developing a Norwegian value chain for green ammonia and hydrogen.
This section discusses the key market trends that are influencing the various segments of Europe Green Ammonia as identified by our team of research experts.
Growing consumption of fertilizers
The global population is growing rapidly; 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 common practice across the globe. Furthermore, demand for organic and environment-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 agricultural production and increasing awareness about the harmful effects of chemical inputs and benefits of organic fertilizers augment the consumption of various environment-friendly fertilizers.
Germany is Expected to Grow with Significant CAGR During Forecast Period
The Germany have strong presence in the green ammonia market owing to the increasing awareness among people about renewable energies and increased focus on using ammonia to deliver hydrogen as a clean-burning fuel for industries. Germany’s government has also planned to invest around US $10.5 billion in building up hydrogen as a green fuel. Additionally, numerous green hydrogen projects and the growing investment in the country is also driving the market growth. For instance, Uniper plans to establish a German national hub for hydrogen in Wilhelmshaven. This plan includes an import terminal for green ammonia which will be equipped with an ammonia cracker for producing green hydrogen and will also be connected to the planned hydrogen network. In October 2021, the UK-based oil and gas company INEOS announced that it will build a large-scale, 100-megawatt electrolyser to produce green hydrogen at the Koln site in Germany. The company will execute this through its subsidiary INOVYN. Firstly, the company will produce green hydrogen to feed into its green ammonia production. The green hydrogen project aims to reduce direct and indirect carbon emissions by over 120,000 tonnes per year.
The Europe Green Ammonia is competitive and fragmented, with the presence of several global and international market 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.
November 2022: The consortium of the Methanol-to-SAF project “M2SAF” sees five companies (which includes BASF) from the entire value chain joining forces with the aim of developing a novel process technology to facilitate the selective production of SAF that can be used as a drop-in fuel up to 100%. This production process should generate only minimal additional CO2 emissions and be easy to integrate into existing production plants. The starting point of the process is sustainably produced methanol from CO2 and green hydrogen.
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1. Market Introduction
2. Research Methodology Or Assumption
3. Market Synopsis
4. Executive Summary
5. Europe Green Ammonia Market Revenue (usd Bn), 2022-2032f
6. Market Insights By Technology
7. Market Insights By End-user
8. Market Insights By Country
9. Europe Green Ammonia Market Dynamics
10. Europe Green Ammonia Market Opportunities
11. Europe Green Ammonia Market Trends
12. Value Chain Analysis
13. Legal And Regulatory Framework
14. Demand And Supply-side Analysis
15. Competitive Scenario
16. Company Profiled
17. Disclaimer
Analyzing the historical market, estimating the current market, and forecasting the future market of the Europe Green Ammonia market were the three major steps undertaken to create and analyze the adoption of Europe Green Ammonia in major Countries. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the Europe 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. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:
Step 1: In-Depth Study of Secondary Sources:
Detail secondary study was conducted to obtain the historical market size of the Europe Green Ammonia market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the Europe Green Ammonia market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report as technology and end-users. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.
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 Europe Green Ammonia market. Further, we conducted factor analysis using dependent and independent variables such as technology and end-users of the Europe Green Ammonia market. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the Europe Green Ammonia market sector across the globe.
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the Europe Green Ammonia market, and market shares of the segments. All the required percentage shares split and market breakdowns were determined using the above-mentioned secondary approach and were 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 major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were 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 Europe Green Ammonia market. data was split into several segments & sub-segments post studying various parameters and trends in the areas of the technology and End-user in the Europe Green Ammonia market.
The current & future market trends of the Europe 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 the current market size and growth potential of the Europe Green Ammonia?
Q2: What are the driving factors for the growth of the Europe Green Ammonia?
Q3: Which segment has the largest share of Europe Green Ammonia by Technology?
Q4: What are the emerging technologies and trends in Europe Green Ammonia?
Q5: Which Country will dominate the Europe Green Ammonia?
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