Green Ammonia Market to reach a valuation of USD 14.5 Billion by 2030 - Growth in the Usage of Green Ammonia in Fertilizer Industries and Agriculture is driving the market growth

In terms of revenue, the Global Green Ammonia Market is expected to reach USD 3031.8 Billion by 2030, growing at a CAGR (Compound Annual Growth Rate) of 75.3% from 2023 to 2030.

Market expansion is projected to be fueled by decarbonization as the government wants to reduce carbon emissions the growing transition of industries towards zero-carbon is expected to play a significant role in the expansion of the Green Ammonia Market. Rising stringent emissions and concentrating on zero-carbon energy agenda are also fueling the demand for Green Ammonia. Also in sea transportation, as it requires a good source of heat and electricity Green Ammonia accounts as efficient it has applications in gas turbines, internal combustion engines, industrial furnaces, and fuel cells. Green Ammonia is the best alternative for the shipping sector as it reduces carbon emissions and has less volumetric energy density which makes storage feasible in comparison with other fuels.

Key Highlights from the Report

• Based on the Technologies, the alkaline water electrolysis segment is anticipated to have the largest market share from 2022 to 2030, as it shows higher demand for green hydrogen as a transportation fuel in the Asia Pacific, which rises the growth of the alkaline water electrolysis segment during the forecast period.
• Based on the Applications, the transportation segment will be the second fastest increasing segment during the forecast period as its growth is attributed to net zero CO₂ emissions.
• In terms of region, due to the growing adoption of technological improvements, Spain and Germany are two countries in the European region where the product is in great demand. With the industry becoming more concentrated, Europe is home to numerous ammonia production facilities and offers booming potential for manufacturers. Europe holds the significant market share within the Green Ammonia market and will continue to dominate during the forecast period.

Market Dynamics

The rapid increase in global agricultural production leads to the increasing demand for fertilizers, consumption of fertilizer from 2021 to 2022 grew by 6.2% year-on-year says the Food and Agriculture Organization also there will rise in demand as Asia and Africa are increasing focus towards agricultural production. Soil condition has deteriorated due to the excess use of fertilizers and pesticides and hence these industries require organic fertilizers which will sustain soil quality hence leading to the growing market for Green Ammonia.

There are a few restraints in this growing business which include the high initial cost to set up a Green Ammonia plant it costs from USD 1400 TO 2200 for each ton of ammonia production through a greenfield project’s CAPEX. Hence only the decreased cost of renewable energy generation and electrolyzers will make it feasible for general ammonia producers to shift from traditional ammonia production to green ammonia production.

The Global Green Ammonia Market is Segmented as follows

• Technologies
  • Alkaline Water Electrolysis
  • Proton Exchange Membrane
  • Solid Oxide Electrolysis
• End Users
  • Transportation
  • Power Generation
  • Industrial Feedstock
• Region
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

List of the Key Players of the Global Green Ammonia Market is

ACME Group (India), Air Products Inc. (U.S.), Aker Clean Hydrogen (Norway), AquaHydrex (U.S.), Ballance Agri-Nutrients (New Zealand), BASF SE (Germany), CF Industries Holdings Inc. (U.S.), Dyno Nobel (U.S.), Electrochaea (Germany), Enaex Energy (Chile), Enapter (Italy), Eneus Energy Limited (U.S.), ENGIE (France), EXYTRON (Germany), Green Hydrogen Systems (Denmark), Greenfield Nitrogen LLC (U.S.), H2U Technologies Inc. (U.S.), Haldor Topsoe (Denmark), Hiringa Energy (New Zealand), Hydrogenics (Canada), ITM Power (U.K.), Maire Tecnimont S.P.A. (Italy), MAN Energy Solutions (Germany), McPhy Energy (France), Nel Hydrogen (Norway), Origin Energy Limited (Australia), Queensland Nitrates Pty Ltd (Australia), Siemens Energy (Germany), Starfire Energy (U.S.), ThyssenKrupp AG (Germany), Uniper (Germany)

The Global Green Ammonia Market Scope can be Tabulated as below