NEW YORK, United States, Aug. 09, 2023 (GLOBE NEWSWIRE) -- Zion Market Research has published a new research report titled “Green Ammonia Market - By Purity Type (Exceptional Purity And 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, And Hydrogen Carrier), By End-User(Power Generation, Industrial Feedstock, And Transportation) And By Region - Global Industry Analysis, Size, Share, Growth, Trends, And Forecast, 2023 - 2030” in its research database.
“According to the latest research study, the global green ammonia market size was valued at around USD 548.12 million in 2022. the market is expected to grow above a CAGR of 53.10% and is anticipated to reach over USD 16547.23 million by 2030.”
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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.
Key Insights from Primary Research
- As per the analysis, the green ammonia market share is likely to grow above a CAGR of around 53.10% between 2023 and 2030.
- The green ammonia market size was worth around US$ 548.12 million in 2022 and is estimated to hit approximately US$ 16547.23 million by 2030. Due to a variety of driving factors, the market is predicted to rise at a significant rate.
- Increase in the adoption of green ammonia as a result of the increasing reliance of industry on ammonia is a leading factor of the green ammonia market growth.
- On the basis of region, the “Europe” will likely overtake the global market.
Competitive Players:
The report contains qualitative and quantitative research on the global green ammonia market, as well as detailed insights and development strategies employed by the leading competitors. 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
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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.
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.
Regional Analysis:
Europe is anticipated to lead the global market for green ammonia over the forecast period. Increasing emphasis on reducing carbon emissions, high demand for environmentally responsible products, and increasing government support to increase the use of green ammonia in various end-use industries are some of the primary factors driving market growth.
On the global green ammonia market, North America is anticipated to maintain its second-place position. Increasing concerns about rising carbon emissions in the United States drive the demand for green ammonia in a variety of end-use sectors. The Asia-Pacific market for green ammonia will expand rapidly over the forecast period. The growth of the green ammonia market in this region is driven by the high demand for ammonia in end-use industries that are expanding rapidly and the growing emphasis on reducing carbon footprints by key industries.
Report Scope:
| Report Attribute | Report Details |
| Market Size in 2022 | USD 548.12 Million |
| Market Forecast in 2030 | USD 16547.23 Million |
| Growth Rate | CAGR of 53.10% |
| Base Year | 2022 |
| Forecast Years | 2023- 2030 |
| Key Companies Covered | Siemens, Yara International, ITM Power, Hydrogenics Electrochaea, McPhy Energy, Green Hydrogen Systems, MAN Energy Solutions, Thyssenkrupp, Nel Hydrogen, Others |
| Segments Covered | By Purity Type, By Technology, By Application, By End-User And By Region |
| Regions Covered | North America, Europe, Asia Pacific, Latin America, and the Middle East &, Africa |
| Customization Scope | Avail customized purchase options to meet your exact research needs. |
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The global green ammonia market is segmented as follows:
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
- Southeast Asia
- Rest of Southeast Asia
- The Middle East & Africa
- GCC
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Brazil
- Argentina
- Rest of Latin America
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Key questions answered in this report:
- What is the market size and growth rate forecast for Green Ammonia industry?
- What are the main driving factors propelling the Green Ammonia Market forward?
- What are the leading companies in the Green Ammonia Industry?
- What segments does the Green Ammonia Market cover?
- How can I receive a free copy of the Green Ammonia Market sample report and company profiles?
Key Offerings:
- Comprehensive analysis of the primary market
- Significant alterations in market dynamics
- The market's segment specifications
- Statistics and revenue market analysis of historical, present, and forecast
- Evaluation of niche developments in the market
- Market share evaluation
- Principal strategies of market leaders
- Emerging markets and regional segments
- In order to strengthen the market position of businesses, testimonials are provided
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