USD 0.07 billion
Green Ammonia Market Size, Share, Growth Analysis, By Gasifier Technology(Alkaline Water Electrolysis, Proton Exchange Membrane Electrolysis, Solid Oxide Electrolysis), Application(Power Generation, Transportation, Feedstock, Fertilizer, Refrigeration, Other), and Region - Industry Forecast 2024-2031
Report ID:
SQMIG15B2034 |
Region:
Global |
Published Date: July, 2024
Pages:
157
|Tables:
88
|Figures:
76
Green Ammonia Market Insights
Green Ammonia Market size was valued at USD 173.51 Million in 2022 and is expected to grow from USD 300 Million in 2023 to reach USD 23959.7 Million by 2031, at a CAGR of 72.9% during the forecast period (2024-2031).
The green ammonia market, focusing on ammonia produced using renewable energy sources, is emerging as a pivotal element in the global transition towards sustainability. The process involves generating hydrogen through the electrolysis of water, powered by renewable energy, and combining it with nitrogen from the air, thereby eliminating carbon emissions inherent in traditional ammonia production methods. this market will focus on the provision of a long-term, affordable source for ammonia, essential to fertilizers, and essential for preventing global climate change. Pulled by these regulations and the development of new renewable energy technologies for carbon or greenhouse gas management, and due to the increasing demand for sustainable agriculture and inputs. Similarly, the functions of green ammonia, which is a hydrogen vehicle with energy storage and transport capabilities, place this aspect of clean energy among important category.
However, there are some factors that restrain the market growth, which is discussed below. Due to the high initial costs for production facilities, the still immature supply chain structures, and the high-energy requirements the process faces various obstacles. The availability of renewable energy sources also becomes an issue of concern regarding its reliability in the production process. Similarly, technological considerations when it comes to production at a commercial scale and challenges arising from storage and distribution also imply a market that has challenges to face. However, the market is as big as the challenge where new opportunities can be tapped and explored. These factors include the global transition towards using renewable energy sources, development of efficient methods of electrolysis, and the development of novel techniques in hydrogen production are likely to cut costs and improve efficiency. Enhanced investments in research and innovative technology, along with rising endorsement for the use of green practices and higher government encouragement, can help boost the growth of the market. Consequently, despite the ongoing challenges and questionable future of the green ammonia market, the opportunity to drive the core industries of the world’s economy, such as agriculture, energy storage, and transportation creates a more sustainable future for the industry.
US Green Ammonia Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Transportation
Fastest Growth
Transportation
Growth Rate
72.9% CAGR
Global Green Ammonia market By Gasifier Technology ($ Bn)
Country Share for Europe Region (%)
To get more reports on the above market click here to Buy The Report
Green Ammonia Market Segmental Analysis
The Global Green Ammonia market is segmented on the basis of Gasifier Technology, Application, and region. Based on Gasifier Technology the market is segmented as Alkaline Water Electrolysis, Proton Exchange Membrane Electrolysis, and Solid Oxide Electrolysis. Based on Application the market is segmented as Power Generation, Transportation, Industrial Feedstocks, Fertilizer, Refrigeration, and Others. Based on region the market is segmented as, North America, Europe, Asia-Pacific, Latin America, Middle East & Africa.
Analysis by Gasifier Technology
The largest segment is currently dominated by Alkaline Water Electrolysis. This technology has established itself as the frontrunner due to its mature and cost-effective processes, making it highly attractive for large-scale ammonia production. Alkaline Water Electrolysis leverages well-understood chemistry and robust infrastructure, offering operational efficiencies that are hard to match. As of the latest market insights, this segment holds the lion's share, accounting for over 40% of the market, thanks to its lower capital and operational expenditures. The extensive use of alkaline electrolyzers in various industrial applications underscores their reliability and scalability, cementing their position as the preferred choice for green ammonia production.
The fastest growing segment is Proton Exchange Membrane (PEM) Electrolysis, which is experiencing a remarkable surge in adoption due to its superior efficiency and flexibility. This cutting-edge technology is projected to witness a compound annual growth rate (CAGR) of over 15% in the coming years. PEM Electrolysis stands out with its capability to operate at high current densities and its rapid response to fluctuations in renewable energy sources, such as solar and wind. This adaptability makes it exceptionally well-suited for integration with intermittent renewable energy supplies, driving its accelerated growth.
Analysis by Application
The largest segment in the green ammonia market is the fertilizer segment. With the increasing global population, there is a surging demand for food, which in turn drives the need for sustainable agricultural practices. Green ammonia, produced through renewable energy sources, serves as an eco-friendly alternative to traditional fertilizers, reducing carbon emissions and promoting sustainable farming. This segment dominates the market due to its pivotal role in ensuring food security while addressing environmental concerns. In 2023, the fertilizer segment accounted for over 40% of the market share, and it continues to grow as nations worldwide seek to enhance agricultural productivity while meeting their climate goals.
Meanwhile, the fastest-growing segment in the green ammonia market is power generation. As the world transitions towards cleaner energy sources, green ammonia emerges as a viable solution for renewable energy storage and grid stability. Its ability to store and transport energy in a dense form makes it an attractive option for balancing intermittent renewable sources like wind and solar. Governments and private sector investments are pouring into green hydrogen and ammonia projects, driving rapid technological advancements and cost reductions. This accelerated growth is a testament to green ammonia's potential to revolutionize the energy sector, offering a sustainable alternative to fossil fuels and aiding in the global quest for carbon neutrality.
Global Green Ammonia market By Gasifier Technology
To get detailed analysis on other segments, Request For Free Sample Report
Green Ammonia Market Regional Insights
The green ammonia market share in Europe is estimated to dominate the green ammonia market in the estimated period. The Europe market is rapid in growth due to subsequent small-scale application of green electricity production in rural areas and green fuel due to the probability of increased application in fuel cell vehicles. Germany, the Netherlands, and Norway are at the vanguard, coupling strong technological and regulatory frameworks to champion green ammonia production.
The Asia-Pacific region has been found to be the most promising market for green ammonia and expected to show the strongest growth rates. The growth of this sub-sector is hinged on the rising energy demand, the enhanced industrialization, and the growing emphasis on sustainable energy sources within the East Asian region spearheaded by countries like China, Japan, and Australia. They are also focusing on their energy sectors and adopting the concept of green economy by trying to adapt themselves to the shift towards low carbon economies through funding renewable energy projects and new technologies. For instance, Australia has scaled the green ammonia projects pretty well with several mega projects already in the pipeline, thanks to its low cost and available renewable power sources.
Global Green Ammonia market By Region
- Largest
- Fastest
To know more about the market opportunities by region and country, click here to
Buy The Complete Report
Green Ammonia Market Dynamics
Green Ammonia Market Driver
Environmental Regulations and Sustainability Initiatives:
- This is due to the raised conciseness of the amplified environmental laws and sustainable policies across the world leading to new innovative materials such as green ammonia. Currently, emissions standards have been revised to be tighter and governments are offering ways through which industries can be encouraged to use renewable power instead of the current fossil fuel energy sources.
Growing Interest in Renewable Energy Integration:
- The increase in interest towards using renewable energy systems and its utilization in agricultural production, transportation, and power generation will significantly boost the green ammonia market. Wind and solar are emerging as key options for decarbonizing industries and powering electric vehicles away from fossil fuels, and green ammonia could provide a method for storing and distributing this electricity.
Restraints
High Initial Investment Costs:
- A key opportunity for growth in the market of green ammonia is the relatively capped demand for green ammonia, which thereby means limited opportunities for investment and development. Although the long-term advantages, as it relates to sustainability and future costs of ammonia production and utilization, seemed compelling, the initialcapital investments prevent some enterprises from venturing into green ammonia production.
Technological and Infrastructure Challenges:
- Green ammonia has potential drawbacks related to technology and logistics for large-scale application on the basis of the following issues: There is still a lack of suitable electrolysis technologies to produce green ammonia, there are no storage and transportation facilities for green ammonia, and green ammonia has to be integrated into other numerous production streams. These are tough tasks which in order to solve, substantial amount of research and development work has to be invested, along with funds to develop the infrastructure.
Request Free Customization of this report to help us to meet your business objectives.
Green Ammonia Market Competitive Landscape
The green ammonia market remains to be largely promising experiencing rather fast development as more and more industries are focusing on the usage of sustainable and environmentally friendly products. The main concept of green energy includes green ammonia as a shift towards green energy that can help to minimize carbon emissions in different spheres of human life such as agriculture, transportation, and the generation of electricity. Purchasing market in this context has fairly a healthy competition with key players and innovative start-ups vying with each other to increase their technological superiority and manufacturing efficiencies. Executives are deploying a lot of capital in new technologies that increase the profitability of green ammonia production as seen with electrolysis methods that utilize renewable energy sources. The formation of strategic alliances, joint ventures, mergers or acquisitions are often observed when organizations aim at marking more ground in the industry and utilizing complementary resources. Moreover, legal requirements and governmental support are making this factor rather significant to influence the measures of market shares, encouraging the investments in green technologies. This pressure fuels further improvements in technology and brings upgrades to production platforms meant to expand green ammonia capacity to satisfy global market demands efficiently.
Green Ammonia Market Top Player's Company Profiles
- Siemens AG (Germany)
- Yara International ASA (Norway)
- Nel Hydrogen (Norway)
- Air Liquide SA (France)
- Mitsubishi Heavy Industries Ltd. (Japan)
- Engie SA (France)
- ThyssenKrupp AG (Germany)
- KAPSOM (China)
- AFC Energy Plc (UK)
- MAN, Energy Solutions (Germany)
- Haldor Topsoe A/S (Denmark)
- Siemens Energy AG (Germany)
- Ørsted A/S (Denmark)
- Hydrogenics Corporation (Canada)
- Toshiba Energy Systems & Solutions Corporation (Japan)
- Black & Veatch Holding Company (US)
- ITM Power Plc (UK)
- McPhy Energy SA (France)
- Kawasaki Heavy Industries Ltd. (Japan)
- Exelon Corporation (US)
Green Ammonia Market Recent Developments
-
In November 2022, Siemens Energy collaborated with Fortescue Future Industries, a producer of green hydrogen production, and GeoPura, a renewable energy & EV charging and emission-free electricity supplier, to construct an ammonia cracker prototype that would create green hydrogen at an industrial level, curb climate change and decrease carbon emissions. The prototype used ammonia to deliver 200 kg of hydrogen everyday which is approximately enough to power 5-10 hydrogen fuel cell electric buses.
-
In September 2022, Uniper SE, Germany’s largest power and gas trader, and Vesta came to an agreement to extend an existing storage facility to construct the first green ammonia hub known as Greenpoint Valley in Northwest Europe. Uniper SE is keen on entering new markets specializing in ammonia and hydrogen production to be sustainable across the Northwest Europe region. These European initiatives will enhance green ammonia and hydrogen markets that should help drive up supply security.
Green Ammonia Key Market Trends
- Advancements in Electrolysis Technology: The meaningful transformation in the technology of electrolysis has notably brought competitive and higher rates of the green ammonia production since the beginning of using renewable energy as a source of power in the world of wind and solar. Progress made in the conception of the electrolyzer and the materials available is making it possible to embrace green ammonia projects and make them more commercially sustainable.
- Emergence of Regional Markets and Supply Chains: Some of the emerging markets being formed are the regional markets and supply chains stimulated by available resources, relevant governmental policies, and market requirements. This trend is being well on course towards enabling localized production of equipment as well as the setting up of distribution networks to support local green ammonia markets hence naturally acting as a check to fully dependence on imported green ammonia.
Green Ammonia Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Component types team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our global Green Ammonia Market analysis, Green Ammonia consumption is on the rise across the world, whereas, the European region has taken the lead owing to the strict environmental standards and progressive long-term sustainability targets. More emphasis on the reduction of carbon emissions in the continent has led to new developments in green technologies including green ammonia production. Also, the rising concern towards climate change and the ensuing need to look for cleaner energy sources will remain an essential factor in the growth for this market in the future. Advanced green ammonia also has the potential of replacing traditional processes for production of ammonia since it uses green electricity generated from renewable energy, namely wind and solar energy, which have a considerably lower carbon footprint. In addition, a trend that is gradually emerging within this market is green ammonia that can work as a carrier of hydrogen since it can be more easily stored and transported compared to H2 for renewable energy applications hence flexible and scalable. As various governments, and industries globally focus their efforts towards the fight against climate change, and the conversion to a low carbons economy, then the Green ammonia market is set to experience substantial growth at a rapid pace with Europe at the forefront taking the lead in innovation and implementation.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 173.51 Million |
| Market size value in 2031 | USD 23959.7 Million |
| Growth Rate | 72.9% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Million |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
To get a free trial access to our platform which is a one stop solution for all your data requirements for quicker decision making. This platform allows you to compare markets, competitors who are prominent in the market, and mega trends that are influencing the dynamics in the market. Also, get access to detailed SkyQuest exclusive matrix.
Buy The Complete Report to read the analyzed strategies adopted by the top vendors either to retain or gain market share
Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Green Ammonia Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Green Ammonia Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Green Ammonia Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Green Ammonia Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Green Ammonia Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Green Ammonia Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Green Ammonia Market Report Snapshots
Want to customize this report?
Our industry expert will work with you to provide you with customized data in a short amount of time.
REQUEST FREE CUSTOMIZATION
USA (+1) 351-333-4748
