Dublin, Aug. 08, 2024 (GLOBE NEWSWIRE) -- The "Green Ammonia Market by Technology (Alkaline Water Electrolysis (AWE), Proton Exchange Membrane (PEM), SOE), End-Use Application (Transportation, Power Generation, Industrial Feedstock (Industrial, Fertilizers)), Region - Global Forecast & Trends to 2030" report has been added to ResearchAndMarkets.com's offering.
The global green ammonia market is expected to grow from USD 0.3 billion in 2024 to USD 6.2 billion by 2030, with a CAGR of 66% during the forecast period. The development of a global hydrogen economy is driving the demand for green ammonia. As an efficient hydrogen carrier, green ammonia is crucial for transporting hydrogen over long distances and enabling its use in various applications, including power generation, transportation, and industrial processes. 
Solid oxide electrolysis technology segment to be the fastest-growing market from 2024 to 2030
The green ammonia market is divided into three technological categories: alkaline water electrolysis, proton exchange membrane electrolysis, and solid oxide electrolysis. The increasing global need for green hydrogen is pushing the use of Solid Oxide Electrolysis Cell (SOEC) technology, which provides an effective technique for producing hydrogen from renewable sources. SOEC technology is more energy efficient than conventional electrolysis technologies, giving it a competitive advantage in the green ammonia industry. The scalability of SOEC systems enables both small-scale and large-scale applications, satisfying the green ammonia industry's different requirements.
Industrial Feedstock, by end-use application, expected to be the largest market from 2024 to 2030
The green ammonia market, by end-use application, is bifurcated into power generation, transportation and industrial feedstock. The industrial feedstocks segment is expected to be the largest market, followed by power generation during the forecast period. This dominance is because of the need for green fertilizers in agricultural industries. The growing emphasis on sustainability and decreasing carbon footprints in industrial operations fuels demand for green ammonia as a greener alternative to standard ammonia manufacturing methods. Governments are adopting rules and incentives to encourage industry to use green ammonia. Green ammonia may be employed as a hydrogen carrier for energy storage, making it a flexible alternative for balancing supply and demand in renewable energy systems. Green ammonia is utilized in a variety of industrial applications, including fertilizers, chemicals, and medicines, where sustainability is increasingly important.
Europe is expected to be the largest region in the green ammonia market
Several European nations have made significant pledges to increase the proportion of renewable energy in their energy mix. The availability of wind and solar resources in Europe offers a solid foundation for the creation of green hydrogen, which is subsequently converted into green ammonia. The combination of green ammonia with renewable energy sources helps to stabilize the system and store extra energy. In addition, Europe has made major investments in the infrastructure required for green ammonia production, storage, and delivery. The construction of pipelines, terminals, and storage facilities improves the scalability and logistics of green ammonia, allowing it to be widely adopted throughout the area.
Key Attributes
| Report Attribute | Details |
| No. of Pages | 273 |
| Forecast Period | 2024-2030 |
| Estimated Market Value (USD) in 2024 | $0.3 Billion |
| Forecasted Market Value (USD) by 2030 | $6.2 Billion |
| Compound Annual Growth Rate | 66% |
| Regions Covered | Global |
Market Dynamics
- Drivers
- Need to Store Renewable Energy for Longer Term
- Regulatory Policies and Incentives to Reduce GHG Emissions
- Increased Need for Eco-Friendly Fertilizers
- Restraints
- High Initial Setup Costs
- Opportunities
- Potential of Ammonia as Maritime Fuel
- Increasing Focus on Building Hydrogen-based Economy
- Plans to Achieve Net-Zero and Electrolyzers Target
- Challenges
- Lack of Information About Green Ammonia Among Chemical Manufacturers
- Low Level of Technology Readiness for Use of Ammonia as Zero-Carbon Fertilizer, Fuel, and Energy Storage
Supply Chain Analysis
- Technology Providers
- Producers
- Ammonia Plant EPC Companies
- End-users
Technology Analysis
- Key Technologies
- Electrolyzer-based Haber-Bosch Process
- Proton Exchange Membrane Electrolysis
- Alkaline Electrolysis
- Solid Oxide Electrolysis
- Complementary Technology Analysis
- Electrochemical Synthesis
- Photochemical Synthesis
- Biomass with Carbon Capture and Storage
Case Study Analysis
- Downscaling Haber-Bosch
- Background
- Challenges
- Solution
- Storing and Transporting Renewable Energy
- Background
- Challenges
- Solution
- Developing Carbon-Free Energy Systems with Green Ammonia
- Background
- Challenges
- Solution
Pricing Analysis
- Average Levelized Cost of Green Ammonia, by Region
- Indicative Pricing Analysis, by Technology (USD)
Companies Featured in the Report
- Acme
- Yara
- BASF SE
- Siemens Energy
- Engie
- CF Industries Holdings, Inc.
- Uniper SE
- Greenko Group
- First Ammonia
- Starfire Energy
- Allied Green Ammonia Pty. Ltd.
- Thyssenkrupp AG
- NEL ASA
- ITM Power PLC
- Green Hydrogen Systems
- McPhy Energy SA
- Cummins Inc.
- Enapter S.R.L.
- Topsoe
- Fuelpositive
- Longi
- Iberdrola, SA
- Hiringa Energy Ltd.
- CEEC Global Ltd.
- Hygenco
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