The India Green Ammonia Market is expected to grow at a robust CAGR of approximately 101.5% during the forecast period (2024-2032).

India is projected to showcase exponential growth during the forecast period as the country has many automotive manufacturers and production units that cater to the demand for green ammonia. The foremost factors attributed to the market boom are the increasing favorable government policies, technological advancements, investment by governments and private players, economic growth, and policies to reduce decarbonization. Moreover, there is increasing awareness among people about renewable energies and an increased focus on using ammonia to deliver hydrogen as a clean-burning fuel for industries. Numerous green hydrogen projects and growing regional investment are also driving market growth. Likewise, factors such as supportive government policies, efforts to meet rising power demands, transportation fuel demand using renewable energy sources, and decreasing dependency on fossil fuels to reduce carbon emissions are significant contributors to the market's growth. Similarly, while the decarbonization of ammonia production for fertilizers is already critical to meeting net-zero emissions targets, green ammonia also has immense potential to serve as a next-generation zero-carbon fuel. This represents a highly flexible way of storing renewable energy and a critical complementary technology to direct electrification. 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.

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Based on technology, the market is divided into alkaline water electrolysis, proton exchange membrane, and solid oxide electrolysis. Among these, the alkaline water electrolysis dominated the green ammonia and is expected to show the same trend in the forecast period. Alkaline water electrolysis is one of the most common types of technologies used to split water into the gases hydrogen and oxygen which uses a potassium hydroxide (KOH) solution and a nickel cathode and has been the most widely adopted method for producing green ammonia due to its simplicity, maturity, and cost-effectiveness. The considerable supply of KOH and the established supplier network for this chemical decreased production prices and improved scalability. While other electrolysis techniques, which include proton exchange membrane (PEM) and solid oxide electrolysis (SOE), show promise, they face challenges regarding higher operating temperatures, corrosion resistance, and scaling troubles, which preclude their massive adoption.

The market is segmented based on end-users into industrial feedstock, power generation, transportation, and others. Among these, the industrial feedstock segment has dominated the market in 2022 and is expected to dominate during the forecast period. Industrial feedstock, typically derived from natural gas, provides a well-set supply chain and infrastructure, making it less complicated to scale up production and meet the high needs of various industries. Moreover, the central role of ammonia is as the primary feedstock for inorganic fertilizers that currently support food production for around half of the world’s population. Around 70% of ammonia is used to make fertilizers, with the remainder used for a wide range of industrial applications, such as plastics, explosives, and synthetic fibers. Secondly, the price of green ammonia from industrial feedstock is typically less compared to different renewable sources, including biomass or solar power, making it more economically feasible for mass production.

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Green Ammonia Market Segmentation

Market Insight, by Technology

·      Alkaline Water Electrolysis

·      Proton Exchange Membrane

·      Solid Oxide Electrolysis

Market Insights by End-User

·      Industrial Feedstock

·      Power Generation

·      Transportation

·      Others

Top Company Profiles

·      Siemens

·      Thyssenkrupp

·      Nel Hydrogen

·      Green Hydrogen Systems

·      MAN Energy Solutions

·      Uniper

·      Enapter

·      ENGIE

·      Hiringa Energy

·      BASF

·      Enaex SA

·      JGC Holding Corporation

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