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

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.