Global Green Ammonia Market

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 2025-2032


Report ID: SQMIG15B2034 | Region: Global | Published Date: July, 2024
Pages: 157 | Tables: 88 | Figures: 76

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.

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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).

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. '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)'

Growing Demand for Green Fertilizers

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.

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.

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Global Green Ammonia Market

Report ID: SQMIG15B2034

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