USD 0.07 billion
Green Ammonia Market Size, Share, Growth Analysis, By Gasifier Technology(Alkaline Water Electrolysis, Proton Exchange Membrane Electrolysis, and Solid Oxide Electrolysis), By Application(Power Generation, Transportation, Feedstock, Fertilizer), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG15B2034 |
Region:
Global |
Published Date: July, 2024
Pages:
157
|Tables:
88
|Figures:
76
Green Ammonia Market Insights
Global Green Ammonia Market size was valued at USD 173.51 Million in 2022 and is poised to grow from USD 300 Million in 2023 to USD 23959.7 Million by 2031, growing at a CAGR of 72.9 % in the forecast period (2024-2031).
The growing prevalence of green ammonia owing to rising awareness of producing clean energy and minimizing carbon footprint is boosting the demand for the market. Rising popularity of green ammonia for marine fuel used in ships in the transportation sector as it emits zero carbon without leaving any sulphur traces, leads to enhancement of air quality and market growth. Gree n ammonia is manufactured by utilizing renewable energy sources like wind, solar, and hydroelectric power, thereby providing various benefits. These advantages include carbon neutrality and reducing ecological footprint. Furthermore, green ammonia can be utilized as transportation fuel, hydrogen carrier system, and as means of storing energy, making it a versatile and sustainable substitute. This is primarily true for sectors trying to minimize carbon footprint. The development of the green ammonia sector can be further attributed to the dedication of countries under the Paris Agreement to fight against climate transformation. Countries who have signed the agreement are dedicated to minimizing greenhouse gas emissions and shifting towards cleaner energy sources. This has developed a favorable regulatory environment and market conditions for the adoption of green ammonia, facilitating the market's development.
US Green Ammonia Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Transportation
Fastest Growth
Transportation
Growth Rate
72.9% CAGR
Global Green Ammonia market By Gasifier Technology ($ Bn)
Country Share for Europe Region (%)
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Green Ammonia Market Segmental Analysis
The global green ammonia market is segmented into gasifer technology, application, and region. Based on gasifier technology the market is segmented into Alkaline Water Electrolysis, Proton Exchange Membrane Electrolysis, and Solid Oxide Electrolysis. Based on application, the market is divided into Power Generation, Transportation, Feedstock, Fertilizer, Refrigeration, and Other. Based on region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Analysis by Gasifier Technology
Based on gasifier technology, alkaline water electrolysis is leading the market because it is a trusted and a common style of electrolytic. Alkaline water electrolysis is a reliable type of electrolysis. The alkaline water electrolysis variant of the electrolytic cell is described by the electrodes operating in a fluid electrolyte of sodium or potassium hydroxide. This procedure is primarily utilized for producing green ammonia as the catalyst is more affordable and the gas quality is better. Alkaline water electrolysis has many benefits like it has longer lifespan because of its interchangeable electrolytes and less catalysts that dissolve in the oxide layer. These factors are positively influencing the growth of the market.
In the gasifier technology the proton exchange membrane technology has also been growing rapidly. This is primarily because of the rising public awareness of the advantages of proton exchange membrane technology. This solution has an electric efficiency of almost more than 90% and high current densities at low voltage. Nowadays, consumers are also forcing the manufacturers to become more sustainable with their production procedure. This proton exchange membrane technology is helping the manufacturers to shift the chemical compounds into green ammonia by decarbonizing it efficiently. This demand for this product is further increasing due to favorable government incentives for manufacturing clean, green energy. Constant research and development on fuel cell technologies is also augmenting the growth of the market.
Analysis by Application
Based on application, the transportation segment is leading the green ammonia market. The demand for green ammonia is increasing in transportation because of the global fuel and energy crisis, leading to the rising demand for green fuel. Renewable sources such as green ammonia and others are successfully replacing the traditional energy sources. Fuel from these sources is more efficient, eco-friendly, and clean. Nowadays, people are emphasizing issues that are more pressing like carbon emissions and environmental protection. These problems are contributing to the increasing popularity of green ammonia in the transportation sector. This solution is also more feasible owing to its low storage volume requirement and its liquid state at room temperature.
Power generation is also growing rapidly in the green ammonia market. Factors like increasing environmental concerns and an increased requirement for minimizing reliance on fossil fuels for power generation are supporting the growth of the market. Utilizing green ammonia offers a sustainable solution for power generation by reducing the number of emissions released into the environment. The adoption of green ammonia has increased rapidly as a substitute energy source for power generation in the last few years. Many emerging and developed countries globally are massively depending on cleaner energy sources for fulfilling their rising energy demands. Many initiatives are being taken by the emerging economies like India, China, Korea, and Japan for adopting cleaner energy sources for power generation.
Global Green Ammonia market By Gasifier Technology
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Green Ammonia Market Regional Insights
Europe is dominating the global green ammonia market. The green ammonia sector is increasing in this region due to the growing development of hydrogen fuel. Governments bodies are also becoming more aware about the negative impact of conventional fuels, so they are taking favorable initiatives to increase the use of hydrogen fuels. They are investing more in installing hydrogen fuel stations in residential and commercial markets, leading to this increasing demand for green ammonia. The advancement of the European market is also due to an increase in manufacturing green electricity for small-scale applications in rural areas. The demand for green fuel is also increasing due to the rising demand for fuel cell vehicles.
Asia Pacific is witnessing the fastest growth in the global green ammonia market. Factors like increased industrialization and the rising focus on sustainable energy sources are increasing demand in this region. Many countries like China, Japan, and India are emphasizing on their energy sectors and embracing the concept of green economy. They are doing this by trying to adapt themselves to this transformation towards low carbon economies with renewable energy projects and advanced technologies. Many companies from these regions are also collaborating to produce green ammonia in various locations. For example, Malaysia’s Gentari and Singapore’s GIC partnered with Greenko founders for developing one of the world’s largest green ammonia platforms. This will increase efforts to meet the net zero targets in several regions along with the OECD’s market. For promoting the usage of electric vehicles Indian governments have extended subsidies, positively influencing the green ammonia market.
Global Green Ammonia market By Region
- Largest
- Fastest
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Green Ammonia Market Dynamics
Drivers
- Growing Demand for Green Fertilizers
In recent times, the quality of soil has massively reduced due to the widespread utilization of chemical fertilizers and pesticides. The demand for organic fertilizers is increasing rapidly due to the rising popularity for sustainable agricultural practices that minimize risk generation. These fertilizers are also reducing carbon emissions. Prominent agrochemical manufacturers are being encouraged by this to change their preference for green and sustainable products such as green ammonia. Therefore, the growing demand for green fertilizers to minimize environmental threats and pollution is boosting the green ammonia market.
- Growing Demand in Marine Sector to Drive Green Ammonia Market
Ships utilize a lot of petroleum and expensive fuel, and it is one of the factors due to which the marine sector accounts for the maximum greenhouse emissions. The most used bunker fuel for ships are heavy petroleum oils, which are manufactured as a by-product of the distillation of petroleum products. This fuel emits toxic SOx into the atmosphere. Ammonia is the most efficient energy carrier of protons due to which it is perfect for providing energy to ships. It is expected that the use of ammonia as fuel will increase in the marine sector with the increasing demand for sustainable energy.
Restraints
- Shortage of Knowledge about Green Ammonia
The manufacturing of green ammonia is still at its infant stage. There are various ways that are utilized to make green ammonia using water and nitrogen like synthesis process photochemistry synthesizing, and biochemical cycling. These procedures have immense technological difficulties that need rigorous effort and research and development. But most of the ammonia manufacturers are still using conventional techniques. This is mainly because they do not have much idea about modern procedures. These manufacturing hubs, especially in emerging economies, don’t have the skilled workforce that is necessary for producing green ammonia.
- High Cost of Production
The high expense of manufacturing green ammonia that is currently expensive compared to the traditional ammonia is one of the primary factors hindering the growth. Massive-scale production of green ammonia needs complex infrastructures and technology along with high renewable energy expenses. A massive barrier to this market’s development is also the lack of reliable green ammonia supply networks.
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Green Ammonia Market Competitive Landscape
In the last few years, the demand for renewable energy has massively increased due to the increasing popularity of renewable energy sources and the need to minimize greenhouse gas emissions. Currently, there are some market players who have a dominant share in this business setting. But with the increasing demand for sustainability and renewable energy the popularity for green ammonia will steadily increase. This will provide new opportunities for new players and many startup companies to showcase their presence in the market.
Top Player’s Company Profile
- Siemens AG (Germany)
- Yara International ASA (Norway)
- Nel Hydrogen (Norway)
- Air Liquide SA (France)
- Mitsubishi Heavy Industries Ltd. (Japan)
- Engie SA (France)
- ThyssenKrupp AG (Germany)
- KAPSOM (China)
- AFC Energy Plc (UK)
- MAN, Energy Solutions (Germany)
- Haldor Topsoe A/S (Denmark)
- Siemens Energy AG (Germany)
Recent Developments
- In March 2022, Scatec and the Egyptian Electricity Transmission Company, Company, the General Authority for the Suez Canal Economic Zone, the Sovereign Fund of Egypt, and the New and Renewable Energy Authority (NREA) signed a MoU. The aim was to provide consent for setting up a green ammonia facility in Egypt.
- In August 2023, ACME Group signed a land agreement with Tata Steel Special Economic Zone Limited. This agreement will help in their green hydrogen and green ammonia project in Odisha.
- Siemens Energy collaborated with Fortescue Future Industries and GeoPura. This partnership will help in developing an ammonia cracker prototype in Newcastle.
- Topsoe signed a deal to offer 5GW of its solid oxide electrolyzers to First Ammonia, a New York City start-up in September 2022. The electrolyzers will be driven by renewable energy for producing green hydrog
Green Ammonia Key Market Trends
Minimizes Greenhouse Gas Emission
- One of the most crucial trends is the rising emphasis on green hydrogen and its significance in green ammonia manufacturing. The utilization of green hydrogen in ammonia production can minimize greenhouse gas emissions as it is prepared from renewable energy sources.
Sustainable Energy Solutions
- The global green ammonia market offers immense opportunities for growth and innovation. One of the massive trends in this field is the rising demand for sustainable energy solutions. The world is gradually moving towards renewable energy sources and green ammonia offers an outstanding opportunity for meeting this demand.
Green Ammonia Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
As per SkyQuest analysis, the global green ammonia market is massively growing as the key players in the market are engaging in various strategic initiatives to improve their market position. The increasing demand for sustainable energy solutions is also positively influencing the growth of the market. Furthermore, the companies and many government bodies are also investing in R&D to improve the efficiency and affordability of the production technologies. They are also investing in many initiatives to increase awareness among people about green ammonia, leading to a growth of the market.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 173.51 Million |
| Market size value in 2031 | USD 23959.7 Million |
| Growth Rate | 72.9% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Million |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Green Ammonia Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Green Ammonia Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Green Ammonia Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Green Ammonia Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Green Ammonia Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Green Ammonia Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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