Global Green Ammonia Market (2021 to 2030) - Increasing Focus on Hydrogen-based Economy Presents Opportunities - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Green Ammonia Market by Technology (Alkaline Water Electrolysis (AWE), Proton Exchange Membrane (PEM), and Solid Oxide Electrolysis (SOE)), End User (Transportation, Power Generation, and Industrial Feedstock) and Region - Global Forecast to 2030" report has been added to ResearchAndMarkets.com's offering.

The global green ammonia market size is projected to grow from USD 16 million in 2021 and is projected to reach USD 5,415 million by 2030, at a CAGR of 90.2% during the forecast period.

Green ammonia is green hydrogen synthesized with nitrogen in an electrochemical Haber-Bosch system. Green ammonia is completely carbon-free ammonia. Electrolyzers are used in green hydrogen production and work in an alkaline water medium or proton exchange membrane or solid oxide medium. These electrolyzers use electricity derived from renewable sources, such as solar, wind, and tidal, to produce green hydrogen.

In terms of both value, Alkaline Water Electrolysis segment to be the fastest-growing segment by 2026.

Alkaline Water Electrolysis segment is projected to be the largest segment in the Green Ammonia market during the forecast period. The growth of this segment is mainly attributed to low capital cost of alkaline water electrolysis system

In terms of both value, Power generation is projected to be the fastest-growing segment from 2021 to 2026, for green ammonia.

Power generation segment is projected to be the largest segment in the green ammonia market. The growth of this segment is mainly attributed to the high demand of energy requirements for various end use industries. With green ammonia production, renewable energy can be stored and reused for power generation at consumption points. This will make the generation of renewable energy more efficient and usable for the long term.

In terms of both value and volume, the Europe green ammonia market is projected to grow at the highest CAGR during the forecast period.

In terms of value and volume, the Europe region is projected to grow at the highest CAGR from 2020 to 2026. The market for green ammonia in the rest of the world region is projected to grow at the highest CAGR from 2021 to 2026, in terms of both value and volume. Fast-track urbanization and the growing agricultural needs of the rising population have raised the demand for green hydrogen in Europe to reduce carbon emissions in the region.

Market Dynamics

Drivers

• Demand for Long-Term Storage of Renewable Energy
• Obligations to Reduce Greenhouse Emissions from Traditional Ammonia Production Methods
• Increased Agricultural Production and Subsequent Rise in Fertilizers Consumption

Restraint

• Higher Initial Capital Requirements for Green Ammonia Plant Infrastructure

Opportunities

• Ammonia as Maritime Fuel
• Increasing Focus on Hydrogen-Based Economy

Challenges

• Low Awareness About Green Ammonia
• Impact of COVID-19 on Supply Chain

Companies Mentioned

• Siemens Energy
• Man Energy Solutions
• Nel Hydrogen
• Thyssenkrupp Ag
• Itm Power
• Green Hydrogen Systems
• Mcphy Energy
• Electrochaea
• Hydrogenics
• Aquahydrex
• Exytron
• Uniper
• Enapter
• Starfire Energy
• Engie
• Yara International
• Basf Se
• Queensland Nitrates
• Ammonia Plant Epc Companies
• Haldor Topsoe
• Hiringa Energy

For more information about this report visit https://www.researchandmarkets.com/r/mlmgg1