Newark, Aug. 16, 2023 (GLOBE NEWSWIRE) -- The global green ammonia market is expected to grow from USD 16.79 million in 2021 to USD 5420.49 million by 2030, at a CAGR of 90.01% during the forecast period 2022-2030. The increasing focus on reducing carbon emissions and the rising government spending on H2 energy design & development programs are anticipated to boost demand for green ammonia. Moreover, raised investment in green ammonia production & large-scale green energy plans also promote the market's growth during the forecast period. Further, the increasing clean energy needs, especially in the developing economies, extensive research & development activities in energy cell programs, and the execution of favorable government policies are also helping boost market growth. Additionally, the raised investment in energy-efficient residential and commercial buildings also helps propel market growth.
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The power generation segment led the market with a value of around 7.09 million in 2021.
The end-user segment is divided into power generation, transportation, and industrial feedstock. The power generation segment led the market with a value of around 7.09 million in 2021. This growth is attributed to the rising government policies.
The solid oxide electrolysis led the market with a value of around 7.23 million in 2021.
The technology segment is divided into solid oxide electrolysis, proton exchange membrane, and alkaline water electrolysis. The solid oxide electrolysis led the market with a value of around 7.23 million in 2021. This growth is attributed to the ability to generate electricity utilizing a variety of fuels.
Regional Segmentation Analysis:
The market is analyzed based on North America, Europe, Asia Pacific, South America, the Middle East, and Africa. Europe emerged as the largest global green ammonia market, with a market value of around 8.28 million in 2021. Europe currently dominates the green ammonia market, and this trend is expected to continue during the forecast period. This growth is attributed to the region's proliferation of green hydrogen projects.
Competitive Analysis:
The significant market players include MAN Energy Solutions, Siemens Energy, ITM Power, Nel Hydrogen, Hydrogenics, ThyssenKrupp AG, McPhy Energy, Green Hydrogen Systems, EXYTRON, Electrochaea, Enapter, AquaHydrex, Yara International, BASF SE, Uniper, ENGIE, Starfire Energy, Haldor Topsoe, Hiringa Energy, Queensland Nitrates Pty Ltd, and among others.
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About the report:
The market is analyzed based on value (USD Billion). All the segments have been analyzed worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report analyzes driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes porter's five forces model, attractiveness analysis, product analysis, supply, and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
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