Global Green Ammonia Market Size & Demand Estimated to Surpass USD 3,756.6 Million By 2030, With a CAGR of 90.1%: Polaris Market Research

NEW YORK, Nov. 2, 2022 /PRNewswire/ -- Polaris Market Research recently published a research report on "Green Ammonia Market Share, Size, Trends, Industry Analysis Report, By Technology (Proton Exchange Membrane, Alkaline Water Electrolysis, Solid Oxide Electrolysis); By End-Use; By Region; Segment Forecast, 2022 - 2030" in its research database.

According to the research report, the global green ammonia market size & demand was valued at USD 17.1 million in 2021 and is expected to reach over USD 3,756.6 Million By 2030, growing at a CAGR of 90.01% during the forecast period.

What is Green Ammonia? What Will be the Size & Demand of Green Ammonia Market?

• Report Abstract:

Green ammonia is ammonia produced with hydrogen that comes from water electrolysis and nitrogen separated from the air. The production method includes the use of renewable energy sources such as hydro-electric, solar power, or wind turbines. Green ammonia can be used in industries such as agriculture, energy storage, and marine. It is also intended to be utilized in the manufacturing of carbon-neutral fertilizer products and decarbonizing the food value chain.

Existing companies in the ammonia storage field are finding ways to use renewable energy to make ammonia while enhancing energy efficiency and minimizing capital expenditure and working costs. The significant factors driving the green ammonia market demand include the increasing number of green hydrogen projects and growing spending in the hydrogen-based economy. The market is also growing due to a surge in demand for green ammonia in the agriculture and power generation industries.

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Our Exclusive Sample Report May Includes:

• Report introduction, overview, and in-depth industry analysis
• Competitive landscape and leading competitor market shares
• Market analysis by size, share and growth opportunities
• 115+ pages research report
• Graphical introduction of regional analysis
• Offer chapter-wise instruction on request
• Includes market presence across different geographies with share, size, and trends
• Updated list of tables and figures
• The report offers top market players with their sales volume, business strategy, and revenue analysis
• Factors and fact research methodology

Some of the Top Green Ammonia Market Players Covered in this Report Are:

• ACME Group
• Aker Clean Hydrogen
• BASF SE
• Dyno Nobel
• Eneus Energy Limited
• Electrochaea
• Greenfield Nitrogen LLC
• Green Hydrogen Systems
• ITM Power
• Hive Energy
• MAN Energy Solutions
• Siemens Energy
• ThyssenKrupp AG
• Uniper
• Yara International ASA

To Know More About Addition Information on Key Players, Download a Report PDF Brochure

Growth Driving Factors

• Rising investments in R&D are expected to push the market growth

Factors such as rising concerns about the environment and increasing focus towards renewable energy sources are boosting the green ammonia market size. Stringent environmental regulations imposed and initiatives taken by governments to reduce dependency on fossil fuels are expected to augment the industry growth. Also, rising use of fertilizers to boost agricultural production and grow superior-quality crops is expected to propel the market demand. As many nations are making efforts in establishing a hydrogen-based economy, green hydrogen projects are increasing, thus fueling industry growth.  

Moreover, several green ammonia market trends enhancing the industry development include rising economy coupled with increasing demand for the storage of renewable energy. Also, an increase in technological developments and investment in research and development are predicted positively influence the market growth over the forecast period. In addition, rising application of green ammonia in the transportation sector is estimated to favor the market expansion.

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Recent Developments

In August 2022, Avaada Group made announcement of establishing a green ammonia manufacturing unit in Rajasthan. The company aims to fulfill the rising energy demand in India through the use of sustainable solutions.

Segmental Analysis

• Alkaline water electrolysis segment dominated the market

Based on technology, the alkaline water electrolysis segment held the largest green ammonia market share in 2021. The technology is becoming popular due to it is highly efficient, affordable, and contains superior performance. Also, many firms are spending on this technology to accomplish the rising demand for green ammonia globally.

• Power generation segment recorded the highest revenue share

On the basis of end-use, the power generation segment witnessed the largest market share in 2021. This growth can be attributed to the growing environmental concerns as well as a growing requirement to decrease dependency on fossil fuels. Green ammonia offers a viable solution for power generation. Additionally, an increasing number of initiatives carried out by economies such as India, China, Korea, and Japan to adopt cleaner energy sources for power generation is boosting the segment growth in the green ammonia market.

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Green Ammonia Market: Report Scope

Europe is estimated to account for the major market share

Based on geography, Europe in green ammonia market generated the highest revenue share in 2021. One of the prominent factors driving green ammonia industry growth in the region is escalating environmental awareness. Also the introduction of strict environmental regulations is anticipated to fuel the demand for green ammonia.

Moreover, the increasing use of green ammonia across industries, including power generation, transportation, and agricultural sectors in the region, is further projected to bolster the market evolution. Growing industrialization and a rise in R&D activities regarding cleaner energy sources support the market growth.

Browse the Detail Report "Green Ammonia Market Share, Size, Trends, Industry Analysis Report, By Technology (Proton Exchange Membrane, Alkaline Water Electrolysis, Solid Oxide Electrolysis); By End-Use; By Region; Segment Forecast, 2022 - 2030" with in-depth TOC: https://www.polarismarketresearch.com/industry-analysis/green-ammonia-market   

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Polaris Market Research has segmented the green ammonia market report based on technology, end-use, and region:

By Technology Outlook

• Proton Exchange Membrane
• Alkaline Water Electrolysis
• Solid Oxide Electrolysis

By End-Use Outlook

• Power Generation
• Transportation
• Industrial Feedstock
• Agriculture
• Others

By Region Outlook

• North America (U.S., Canada)
• Europe (France, Germany, UK, Italy, Netherlands, Spain, Russia)
• Asia Pacific (Japan, China, India, Malaysia, Indonesia, South Korea)
• Latin America (Brazil, Mexico, Argentina)
• Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa)

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About Polaris Market Research

Polaris Market Research is a global market research and consulting company. The company specializes in providing exceptional market intelligence and in-depth business research services for PMR's clientele spread across different enterprises. We at Polaris are obliged to serve PMR's diverse customer base present across the industries of healthcare, technology, semi-conductors and chemicals among various other industries present around the world. We strive to provide PMR's customers with updated information on innovative technologies, high growth markets, emerging business environments and latest business-centric applications, thereby helping them always to make informed decisions and leverage new opportunities. Adept with a highly competent, experienced and extremely qualified team of experts comprising SMEs, analysts and consultants, we at Polaris endeavor to deliver value-added business solutions to PMR's customers.

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SOURCE Polaris Market Research

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