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

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.