Green Ammonia Market Size, Share, Growth, Trends, and Forecast, 2023-2030

According to the report published by Zion Market Research, the global Green Ammonia Market size was valued at USD 548.12 Million in 2022 and is predicted to reach USD 16,547.23 Million by the end of 2030. The market is expected to grow with a CAGR of 53.10% during the forecast period.

The report analyzes the global Green Ammonia Market’s growth drivers, restraints, and impact on demand during the forecast period. It will also help navigate and explore the arising opportunities in the Green Ammonia Market Industry.

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Global Green Ammonia Market: Overview

Ammonia is nothing but a pungent gas that is extensively used for the production of agricultural fertilizers. The production of green ammonia is the process that includes the making of ammonia that is 100 percent carbon-free and renewable. The renewable sources used for the production of green ammonia include air, water, and wind.

Global Green Ammonia Market: Growth Factors

The global green ammonia market is growing at a significant rate. Factors such as the rise in the shift towards green ammonia due to the growing necessity of the industrial dependence on ammonia, rise in environmental concerns of greenhouse gas emissions, and increase in preference for renewable sources rather than fossil fuels are majorly spurring the growth of the global market. 

Ammonia is both a potential fuel and chemical energy carrier. If used as a fuel, ammonia does not release any carbon emission, which is the prime advantage of ammonia. In addition to this, its green credentials can also be improved if sustainable energy is used to power the process of ammonia production.

These factors coupled with the growing use of ammonia in the agricultural industry owing to its environmental impact are propelling the growth of the global green ammonia market. In addition to this, to meet the growing demand for green ammonia to minimize emissions from energy-intensive sectors and decarbonize food thereby enabling a green hydrogen economy, there is a rise in public funding & framework as well as investments.

This is also equally contributing to the growth of the global market. Moreover, the rise in the use of green ammonia from the power generation industry, increase in the number of green hydrogen projects, and rise in the number of small-scale green ammonia plants are also some of the key aspects that are fueling the growth of the market.

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Furthermore, the rise in technological solutions for the development of ammonia engines that can be used for maritime may create ample opportunities for the growth of the global green ammonia market over the forecast period. However, the regulatory requirements for reduced carbon emissions and the high cost associated with the green energy sources are the factors that may hinder the growth of the global green ammonia market.

COVID-19 pandemic conditions severely hit almost all the industries around the world. Major ammonia-producing countries had temporarily shut down manufacturing activities as strict lockdowns imposed by several governments resulted in a halt on the manufacturing process. Also, restrictions on transportation affected the overall sale of green ammonia all over the world. However, the market is expected to recover quickly from pandemic conditions and expected to register healthy growth over the forecast period.

Global Green Ammonia Market Report Scope:

Global Green Ammonia Market: Segmentation

The global green ammonia market is bifurcated based on purity type, technology, application, end-user, and region. Based on the purity type, the global green ammonia market is classified into exceptional purity and low purity. The global market is categorized based on the technology as solid oxide electrolysis (SOE), proton exchange membrane (PEM), and alkaline water electrolysis (AWE). Based on the application, the global market is fragmented into fertilizer, zero-carbon fuel, energy storage, and hydrogen carrier. The end-user segment consists of power generation, industrial feedstock, and transportation.

Global Green Ammonia Market: Regional Analysis

Europe is expected to dominate the global green ammonia market over the forecast period. Some of the prime factors that are supporting the growth of the market include growing emphasis on reducing carbon emission, high demand for environment-friendly products, and increasing government support to increase the use of green ammonia in various end-use industries.

North America is expected to stay in the second position in the global green ammonia market. Factors such as growing concerns regarding increasing carbon emission in the United States are driving the demand for green ammonia in various end-use industries. Asia Pacific to register rapid growth in the global green ammonia market over the forecast period. High demand for ammonia in rapidly expanding end use industries along with the growing emphasis on decreasing carbon footprint by major industries is driving the growth of the green ammonia market in this region.

Global Green Ammonia Market: Competitive Analysis

Some of the predominant players that are operating in the global green ammonia market are: 

• Siemens
• Yara International
• ITM Power
• Hydrogenics
• Electrochaea
• McPhy Energy
• Green Hydrogen Systems
• MAN Energy Solutions
• Thyssenkrupp
• Nel Hydrogen 
• Others

The Global Green Ammonia Market: Segmentation

By Purity Type: 

• Exceptional Purity
• Low Purity

By Technology: 

• Solid Oxide Electrolysis (SOE)
• Proton Exchange Membrane (PEM)
• And Alkaline Water Electrolysis (AWE)

By Application: 

• Fertilizer
• Zero-carbon Fuel
• Energy Storage
• Hydrogen Carrier

By End-user:

• Power Generation
• Industrial Feedstock
• And Transportation

By Region:

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa

What Reports Provides

• Full in-depth analysis of the parent market
• Important changes in market dynamics
• Segmentation details of the market
• Former, on-going, and projected market analysis in terms of volume and value
• Assessment of niche industry developments
• Market share analysis
• Key strategies of major players
• Emerging segments and regional markets
• Testimonials to companies in order to fortify their foothold in the market.