What is the global market size of the Green Ammonia Market?

Global Green Ammonia Market size was valued at USD 0.07 billion in 2021 and is poised to grow from USD 0.12 billion in 2022 to USD 17.9 billion by 2030, growing at a CAGR of 72.9% in the forecast period (2023-2030).

Who are the key vendors in the Global Green Ammonia Market?

Global Green Ammonia Market is dominated by few prominent players. To maintain a competitive edge, the major industry participants are continually implementing various growth strategies. Innovations, mergers, and acquisitions, collaborations and partnerships are adopted by these players to thrive in the competitive market. Key players include Siemens, NEL Hydrogen, ThyssenKrupp, ITM Power, and McPhy Energy among others. Due to the anticipated increased demand for the product in the near future, the producers are concentrating on increasing their manufacturing capacity. 'Siemens AG', 'Yara International ASA', 'Nel Hydrogen', 'Air Liquide SA', 'Mitsubishi Heavy Industries Ltd.', 'Engie SA', 'thyssenkrupp AG', 'Green Ammonia Solutions', 'AFC Energy Plc', 'MAN Energy Solutions', 'Haldor Topsoe A/S', 'Siemens Energy AG', 'Ørsted A/S', 'Hydrogenics Corporation', 'Toshiba Energy Systems & Solutions Corporation', 'Black & Veatch Holding Company', 'ITM Power Plc', 'McPhy Energy SA', 'Kawasaki Heavy Industries Ltd.', 'Exelon Corporation'

What is the key driver of the Global Green Ammonia Market?

Globally, the quality of soil has significantly declined as a result of widespread use of chemical fertilisers and pesticides. Need for organic fertilisers is developing quickly in response to the growing demand for sustainable agricultural practises that reduce risk generation and carbon emissions. Important agrochemical producers are being compelled by this to change their preference for green and sustainable goods like green ammonia. Thus, increased demand for environmentally friendly fertilisers to lessen environmental risks and pollution is anticipated to drive up green ammonia sales throughout the forecast period.

What is the key market trend for the Global Green Ammonia Market?

Currently, the shipping industry is responsible for 3% of the world's greenhouse gas emissions, mostly because ships utilise a lot of diesel and high-sulfur fuel. Heavy fuel oil, which is produced as a byproduct of crude oil distillation, is the primary kind of bunker oil used by ships. When this oil with a high sulphur concentration is used in a ship's engine, toxic SOx are released into the atmosphere. By combining creative ship designs and ammonia as an alternative fuel, the International Maritime Organization (IMO's) 2050 emission reduction targets can be met. The highest hydrogen transporter with the highest energy density is ammonia. As a result, it can supply energy to ships. By 2050, ammonia may account for 25% of the fuel mix used in ships, according to the IMO.

Which region accounted for the largest share in the Global Green Ammonia Market?

North America region dominated the Global Green Ammonia Market in 2021. Rising R&D for hydrogen generation and the uptake of electric vehicles in the region are credited with this rise. Government backing, increasing investor investments, and the viability of the technology in the region are further factors boosting market growth. The U.S. market is being impacted by the sizeable presence of major production businesses and important technology suppliers, the adoption of strict laws, and the rising trend of employing green fertilisers. Similarly, it is anticipated that during the forecast period, increasing investments in green hydrogen, rising prominence of green ammonia as a hydrogen carrier, and increasing focus on the development of renewable fuels for the transportation and power generation sectors will drive demand for green ammonia in the nation.

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 News

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

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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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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

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What is the global market size of Green Ammonia Market?

Who are the key vendors in the Green Ammonia Market?

What is the key driver of Green Ammonia Market?

What is the key market trend for Green Ammonia Market?

Which region accounted for the largest share in Green Ammonia Market?

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