United Kingdom Green Ammonia Market to be Dominated by Power Generation Segment through 2028
Growing
demand from power generation sector and rising awareness towards green ammonia are
factors that drive the United Kingdom Green Ammonia Market in the forecast
period, 2024-2028.
According to TechSci Research
report, “United Kingdom Green Ammonia
Market- By Region, Competition Forecast and Opportunities, 2018-2028,” the United Kingdom Green Ammonia Market is anticipated
to grow at a substantial rate in the forecast period. In the United Kingdom
shipping industry, green ammonia is swiftly gaining popularity as a low-carbon
and ecological substitute for conventional bunker fuels. The shipping sector is
under pressure to cut its carbon footprint and switch to more sustainable fuels
because it is one of the biggest producers of greenhouse gases. The
International Maritime Organization's (IMO) goal of decreasing greenhouse gas
emissions from the shipping sector by at least 50% by 2050 compared to 2008
levels is one of the major objectives influencing the adoption of green
solutions in the maritime industry. Utilizing green ammonia can assist shipping
businesses in achieving these goals and lowering their carbon footprint.
The market for green ammonia
has been significantly influenced by the transition to renewable energy
sources. Green ammonia production can play a significant role in supplying a
clean energy source for numerous applications because of the rising need for
sustainable energy solutions. The rising demand for renewable energy is largely
to blame for the increase in interest in green ammonia. In the global energy
mix, renewable energy is becoming more important as countries work to reduce
their greenhouse gas emissions and transition to low-carbon economies.
Renewable energy sources like wind and solar power are already economically
competitive with traditional fossil fuels in many parts of the world, including
the United Kingdom, and their costs are continuing to decline.
Ammonia is widely used in
agriculture and the food sector, where ammonia-based fertilizers are essential
to the growth of food crops. However, the conventional method of producing
ammonia uses a lot of energy and releases a lot of carbon dioxide. Green
ammonia, which is produced using renewable energy sources and has a
substantially less carbon footprint, has gained popularity because of this.
Green ammonia is an essential part of sustainable agricultural methods since it
gives plants a source of nitrogen without adding to greenhouse gas emissions. A
synthetic fertilizer made from fossil fuels is primarily used to supply crops
with nitrogen, an essential element for plant growth.
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United
Kingdom Green Ammonia Market is segmented based on Production Method, End Use, Region and Competitive Landscape.
Based on the Production
Method, the market is divided into Alkaline Water
Electrolysis, Proton Exchange Membrane, and Solid Oxide Electrolysis. The
Alkaline Water Electrolysis Segment dominated the market and will continue to
dominate in the forecast period. Alkaline Water Electrolysis
is one of the simplest methods used for hydrogen production. It has the
advantage of being able to produce hydrogen using only renewable energy.
Based on the End-Use,
the market is divided into Power
Generation, Transportation, Fertilizers, Others. The Power Generation segment is expected to hold the largest market share in the
forecast period. In addition to the transportation
industry, green ammonia can play a significant role in the decarbonization of
the power industry by substituting green ammonia for fossil fuels in thermal
power plants that generate electricity. Using various fuel cell types, it is
possible to generate green electricity.
Major
companies operating in the United Kingdom Green Ammonia Market are:
- ATOME Energy PLC
- Siemens Energy Limited
- Eneus Energy Limited
- Yara International ASA
- Haldor Topsoe Holding A/S
- ThyssenKrupp AG
- ITM Power plc
- RWE AG
- HIIROC Limited
- Scottish Power Ltd
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“The
power generation sector is one of the largest contributors to greenhouse gas
emissions, with fossil fuels like coal, oil, and natural gas being the primary
sources of energy. These conventional fuels not only emit harmful pollutants
into the environment, but also contribute to climate change by releasing large
amounts of carbon dioxide into the atmosphere. This is where green hydrogen
comes in as a viable alternative. The Green Ammonia Market in United Kingdom is
expected to continue to grow in the coming years as research and development in
the field of green ammonia continues to advance.” said Mr. Karan Chechi,
Research Director with TechSci Research, a research-based global management
consulting firm.
“United Kingdom Green Ammonia
Market By Production Method (Alkaline Water Electrolysis, Proton Exchange
Membrane, and Solid Oxide Electrolysis), By End Use (Power Generation,
Transportation, Fertilizers, Others), By Region, Competition Forecast & Opportunities,
2018-2028F,” has evaluated the future growth
potential of United Kingdom Green Ammonia Market and provides statistics &
information on market size, structure, and future market growth. The report
intends to provide cutting-edge market intelligence and help decision makers
take sound investment decisions. Besides, the report also identifies and
analyzes the emerging trends along with essential drivers, challenges, and
opportunities in United Kingdom Green Ammonia Market.
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