Green Ammonia Market worth $17.9 billion by 2030 - Exclusive Report by MarketsandMarkets™

CHICAGO, Feb. 23, 2023 /PRNewswire/ -- Green Ammonia Market is projected to reach USD 17.9 billion in 2030 from USD 0.3 billion in 2023 at a CAGR of 72.9% according to a new report by MarketsandMarkets™. The Green Ammonia Market has promising growth potential due to the rising deployment of fuel cell vehicles.

Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=118396942

Browse in-depth TOC on "Green Ammonia Market"

223 - Tables
51 - Figures
223 - Pages

Green Ammonia Market Scope:

Alkaline water electrolysis expected to dominate Green Ammonia Market, by technology, during the forecast period

The alkaline water electrolysis segment holds the largest share of the Green Ammonia Market. The large market share can be attributed to the increasing number of large scale projects for the green hydrogen production.

Power generation to witness fastest growth rate in Green Ammonia Market, by application, during forecast period

The Green Ammonia Market, by application, is divided into power generation, transportation and industrial feedstocks, wherein industrial feedstocks accounts for the largest share.   Power generation is the fastest growing segment during the forecast period. The growth is attributed to the increasing number of deployments of alkaline water electrolysis for small scale power generation applications in Europe and Asia Pacific.

Europe expected to dominate Green Ammonia Market during forecast period

In this report, the Green Ammonia Market has been analyzed for four regions: Europe, Asia Pacific, North America and the rest of the World. Europe is a significant contributor to the Green Ammonia Market in the current scenario of electrolysis technology, owing to the rapidly increasing cost-competitiveness which enables consumers to have access to clean electricity.

Request Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=118396942

Green Ammonia Market Dynamics:

Drivers:

1. Need to store renewable energy for longer term
2. Enforcement of regulatory policies and provision of incentives to reduce GHG emissions
3. Increased need for eco-friendly fertilizers with rising agricultural production 

Restraints:

1. High initial cost to set up green ammonia plant

Opportunities:

1. Potential of ammonia as maritime fuel
2. Increasing focus on building hydrogen-based economy

Challenges:

1. Lack of information about green ammonia among chemical manufacturers
2. Low level of technology readiness for using ammonia as zero-carbon fertilizer, fuel, and energy storage

Key Market Players:

To enable an in-depth understanding of the competitive landscape, the report includes the profiles of a few of the top players in the Green Ammonia Market.

The Green Ammonia Market is dominated by a few major players that have a wide regional presence. The leading players in the Green Ammonia Market are Siemens Energy (Germany), NEL ASA (Norway), ThyssenKrupp AG (Germany), ITM Power (UK), YARA International (Norway), and BASF SE (Germany) and others.

Recent Developments

• In November 2022, Siemens Energy partnered with Fortescue Future Industries, a green hydrogen manufacturing company and GeoPura, which provides renewable energy & EV charging, & emission-free electricity, to develop an ammonia cracker prototype designed to produce green hydrogen at an industrial scale and help tackle climate change and reduce carbon emissions. The prototype would use ammonia to deliver 200 kg of hydrogen a day—enough to power around 5–10 hydrogen fuel cell electric buses.
• In September 2022, Uniper SE and Vesta signed a Memorandum of Understanding to expand an existing storage facility to build the first green ammonia hub named Greenpoint Valley in Northwest Europe. Uniper SE seeks to establish a presence in developing green ammonia and hydrogen sectors in Northwest Europe. The development of green ammonia and hydrogen markets will help boost European supply security.
• In August 2022, Uniper SE signed a Memorandum of Understanding with EverWind Fuels to purchase green ammonia from EverWind's initial production facility in Nova Scotia. EverWind and Uniper intend to negotiate a binding offtake agreement for 500,000 tonnes of green ammonia per annum.
• In January 2022, ITM Power contracted with YARA International, an EPC company. ITM Power provided a 24 MW electrolyzer to YARA International, which was agreed to be installed at a site operated by Yara Norge AS.

Get 10% Free Customization on this Report: https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=118396942

Browse Adjacent Markets: Energy and Power Market Research Reports & Consulting

Related Reports:

Hydrogen Generation Market - Global Forecast to 2027

Hydrogen Energy Storage Market - Global Forecast to 2027

Fuel Cell Market - Global Forecast to 2027

Power-to-gas Market - Global Forecast to 2024

About MarketsandMarkets™:

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: [email protected]
Research Insight: https://www.marketsandmarkets.com/ResearchInsight/green-ammonia-market.asp
Visit Our Website: https://www.marketsandmarkets.com/
Content Source: https://www.marketsandmarkets.com/PressReleases/green-ammonia.asp

Logo: https://mma.prnewswire.com/media/660509/MarketsandMarkets_Logo.jpg

SOURCE MarketsandMarkets