Global Green Ammonia Market

Global Green Ammonia Market Size, Share, Growth Analysis, By Technology(Alkaline Water Electrolysis, Proton Exchange Membrane and Solid Oxide Electrolysis), By End Use(Power Generation, Transportation), By Sales Channel(Direct sale and Indirect sale) - Industry Forecast 2023-2030


Report ID: SQMIG15B2034 | Region: Global | Published Date: February, 2024
Pages: 157 | Tables: 88 | Figures: 76

Global Green Ammonia Market Insights

Green Ammonia Market size was valued at USD 0.07 billion in 2021 and is poised to grow from USD 0.12 billion in 2022 to USD 17.9 billion by 2030, growing at a CAGR of 72.9% in the forecast period (2023-2030).

Green ammonia production refers to the use of entirely renewable resources and a carbon-free manufacturing method to produce ammonia. In order to minimise greenhouse emissions, which is crucial for achieving zero-emission goals, green ammonia is manufactured by the electrochemical Haber-Bosch process using renewable energy. With regard to using it to produce energy, the power generating industry has a very large market potential due to the difficulties experienced by fossil fuel power generation, such as revenues, installations, capital expenditures, and significant carbon emissions.

Global market is still in the development phases. As government regulations and public awareness about carbon dioxide emissions and the maintenance of the atmosphere's health grow, it appears that more research and development efforts are being directed toward the production of green ammonia. It may also have a significant impact by reducing the world's dependency on fossil fuels and assisting in the reduction of greenhouse gas emissions. By electrolyzing water to produce hydrogen, which is powered by renewable sources including solar, wind, and hydroelectric power, green ammonia is produced. Green ammonium is useful in several fields, including agriculture, energy storage, and the ocean.

US Green Ammonia Market is poised to grow at a sustainable CAGR for the next forecast year.

Market snapshot - 2023-2030

Global Market Size

USD 0.07 billion

Largest Segment

Transportation

Fastest Growth

Transportation

Growth Rate

72.9% CAGR

Global Green Ammonia Market ($ Bn)
Country Share for North America Region (%)
Global Green Ammonia Market By End Use ($ Bn)
Global Green Ammonia Market By End Use (%)

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Global Green Ammonia Market Segmental Analysis

Global Green Ammonia Market is segmented based on the technology, end use, sales channel, and region. On the basis of technology, the market is sub segmented into Alkaline Water Electrolysis, Proton Exchange Membrane and Solid Oxide Electrolysis. Based on end use, the Green Ammonia Market is segmented into Power Generation, Transportation, Fertilizer, Refrigeration and others. According to sales channel, Green Ammonia Market is bifurcated into direct sale and indirect sale. Based on the region the Green Ammonia Market is divided into North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa.

Green Ammonia Market Analysis by Technology

Proton exchange membrane segment dominated the Global Green Ammonia Market and accounted for the largest revenue share in 2021. This is due to increased public knowledge of the benefits of this technology, which has great electric efficiency of over 90% and large current densities at low voltages. Favourable government incentives for the generation of green and clean energy as well as enhanced R&D on fuel cell technologies can further boost product demand.

The alkaline water electrolysis segment also accounted for a high market share and is anticipated to grow at the fastest CAGR during the forecast period. Two electrodes working in a liquid electrolyte solution of sodium or potassium hydroxide define the alkaline water electrolysis type of electrolyzer. An established and reliable electrolysis method is alkaline water electrolysis. It is one of the simplest ways to make hydrogen from renewable energy. Because of the less expensive catalysts and improved gas purity, it is being utilised more frequently to make green ammonia.

Green Ammonia Market Analysis by End Use

The transportation segment dominated the market share of the global market with a revenue share in 2021. This can be attributed to global fuel energy crisis, which has increased demand for green fuel. Renewable sources like green ammonia and others are replacing conventional ones. These resources generate fuel that is clean, effective, and environmentally beneficial. Global attention is being drawn to the issues of environmental preservation and carbon emissions. These problems are causing the product to become much more well-liked in the transportation sector. The product is liquid at ambient temperatures and only needs a little amount of storage space. In comparison to other fuels, it is practical.

Power generation segment accounted for a substantial share of the global market and is expected to grow at a high CAGR during the forecast period. Ammonia gas generated from renewable sources is called "green ammonia," and it is cleaner. Surplus renewable energy produced in remote areas may be utilised to make carbon-free ammonia through the electrolysis process, which can be used as a sustainable fuel for power generation. Renewable energy installations are increasing on a global scale.

Global Green Ammonia Market By End Use, 2021 (%)

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Global Green Ammonia Market Regional Insights

North America region dominated the Global Green Ammonia Market in 2021. Rising R&D for hydrogen generation and the uptake of electric vehicles in the region are credited with this rise. Government backing, increasing investor investments, and the viability of the technology in the region are further factors boosting market growth. The U.S. market is being impacted by the sizeable presence of major production businesses and important technology suppliers, the adoption of strict laws, and the rising trend of employing green fertilisers. Similarly, it is anticipated that during the forecast period, increasing investments in green hydrogen, rising prominence of green ammonia as a hydrogen carrier, and increasing focus on the development of renewable fuels for the transportation and power generation sectors will drive demand for green ammonia in the nation.

According to estimates, the market in Asia Pacific would grow at the quickest rate between 2022 and 2028. This is a result of government policies and programmes that aim to cut carbon emissions and promote renewable energy. For instance, the Indian government has offered incentives to encourage the usage of electric cars there.

Global Green Ammonia Market By Region, 2023-2030
  • Largest
  • Fastest

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Global Green Ammonia Market Dynamics

Green Ammonia Market Driver

  • Globally, the quality of soil has significantly declined as a result of widespread use of chemical fertilisers and pesticides. Need for organic fertilisers is developing quickly in response to the growing demand for sustainable agricultural practises that reduce risk generation and carbon emissions. Important agrochemical producers are being compelled by this to change their preference for green and sustainable goods like green ammonia. Thus, increased demand for environmentally friendly fertilisers to lessen environmental risks and pollution is anticipated to drive up green ammonia sales throughout the forecast period.
  • The key factors influencing industrial growth include the rapid expansion of end-use industries including transportation and energy generation, the implementation of stringent federal laws, and the rising acceptance of green fertilisers. A larger variety of uses in several big enterprises will also increase green ammonia sales during the next ten years. It is gaining popularity as a marine and ocean fuel in the transportation sector due to its low greenhouse gas emissions and sulphur content, which is expected to support the industry's growth.

Green Ammonia Market Restraint

  • Green ammonia plants' high capital requirements are now the main barrier to the market expansion. Natural gas or coal are the primary operational costs in the manufacturing of ammonia, accounting for 75% of the plant's running expenses. The expense of electrolyzers raises operating costs in a green ammonia factory. Therefore, these plants are not cost-effective for small-scale production due to their greater capital intensity.
  • Additionally, a lack of understanding of green ammonia, the tools needed to make it, and other things may also impede market growth.

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Global Green Ammonia Market Competitive Landscape

Global Green Ammonia Market is dominated by few prominent players. To maintain a competitive edge, the major industry participants are continually implementing various growth strategies. Innovations, mergers, and acquisitions, collaborations and partnerships are adopted by these players to thrive in the competitive market. Key players include Siemens, NEL Hydrogen, ThyssenKrupp, ITM Power, and McPhy Energy among others. Due to the anticipated increased demand for the product in the near future, the producers are concentrating on increasing their manufacturing capacity.

Green Ammonia Market Top Player's Company Profiles

  • Siemens AG
  • Yara International ASA
  • Nel Hydrogen
  • Air Liquide SA
  • Mitsubishi Heavy Industries Ltd.
  • Engie SA
  • thyssenkrupp AG
  • Green Ammonia Solutions
  • AFC Energy Plc
  • MAN Energy Solutions
  • Haldor Topsoe A/S
  • Siemens Energy AG
  • Ørsted A/S
  • Hydrogenics Corporation
  • Toshiba Energy Systems & Solutions Corporation
  • Black & Veatch Holding Company
  • ITM Power Plc
  • McPhy Energy SA
  • Kawasaki Heavy Industries Ltd.
  • Exelon Corporation

Green Ammonia Market Recent Developments

  • In November 2022, the international natural resources project developer Oracle Power PLC announced that its subsidiary, Oracle Energy, has signed a letter of intent with TÜV SÜD to investigate the possibility of green hydrogen and green ammonia certification in connection with the green hydrogen project currently under development in Pakistan. All value chain operations, such as compression, storage, conversion, and transit to the final consumer, are planned to be included.
  • In October 2022, in order to meet the rising demand for low carbon energy in India, Singapore, and around the world, Keppel Infrastructure Holdings Pte Ltd and Greenko Group, through their subsidiaries, have signed a Memorandum of Understanding (MOU) to jointly explore green ammonia and renewable energy opportunities. To jointly study the possibility of establishing a 250,000-tonne green ammonia manufacturing facility, Singapore's Keppel Corp. will collaborate with GIC Holdings Pte Ltd, the Abu Dhabi Investment Authority, and the Greenko Group, which is funded by Japan's ORIX Corp.

Global Green Ammonia Key Market Trends

  • Currently, the shipping industry is responsible for 3% of the world's greenhouse gas emissions, mostly because ships utilise a lot of diesel and high-sulfur fuel. Heavy fuel oil, which is produced as a byproduct of crude oil distillation, is the primary kind of bunker oil used by ships. When this oil with a high sulphur concentration is used in a ship's engine, toxic SOx are released into the atmosphere. By combining creative ship designs and ammonia as an alternative fuel, the International Maritime Organization (IMO's) 2050 emission reduction targets can be met. The highest hydrogen transporter with the highest energy density is ammonia. As a result, it can supply energy to ships. By 2050, ammonia may account for 25% of the fuel mix used in ships, according to the IMO.

Global Green Ammonia Market SkyQuest Analysis

SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.

According to our Global Green Ammonia Market analysis, in the near future, renewable ammonia is anticipated to become a common chemical. This is a result of increased efforts by several countries to achieve low or no carbon emissions. Industry development is projected to be fueled by rising demand across a range of end-use sectors, including fertiliser, power generation, transportation, and others. As demand for agricultural production methods that minimise risk and carbon pollution grow, the organic fertilisers segment is expanding significantly. In order to reduce potential effects and pollution, it is estimated that throughout the projected timeframe, green ammonia sales will increase owing to rising demand for ecologically friendly fertilisers.

Report Metric Details
Market size value in 2021 USD 0.07 billion
Market size value in 2030 USD 17.9 billion
Growth Rate 72.9%
Base year 2021
Forecast period 2023-2030
Forecast Unit (Value) USD Billion
Segments covered
  • Technology
    • Alkaline Water Electrolysis, Proton Exchange Membrane and Solid Oxide Electrolysis
  • End Use
    • Power Generation, Transportation, Fertilizer, Refrigeration and others
  • Sales Channel
    • Direct sale and Indirect sale
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
  • Siemens AG
  • Yara International ASA
  • Nel Hydrogen
  • Air Liquide SA
  • Mitsubishi Heavy Industries Ltd.
  • Engie SA
  • thyssenkrupp AG
  • Green Ammonia Solutions
  • AFC Energy Plc
  • MAN Energy Solutions
  • Haldor Topsoe A/S
  • Siemens Energy AG
  • Ørsted A/S
  • Hydrogenics Corporation
  • Toshiba Energy Systems & Solutions Corporation
  • Black & Veatch Holding Company
  • ITM Power Plc
  • McPhy Energy SA
  • Kawasaki Heavy Industries Ltd.
  • Exelon Corporation
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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 Global 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
  • 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 Global 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
  • 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
  • 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(%)

Methodology

For the Global 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 Global 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 Global Green Ammonia Market:

Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.

Regional Analysis: Further analysis of the Global 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.

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FAQs

Green Ammonia Market size was valued at USD 0.07 billion in 2021 and is poised to grow from USD 0.12 billion in 2022 to USD 17.9 billion by 2030, growing at a CAGR of 72.9% in the forecast period (2023-2030).

Global Green Ammonia Market is dominated by few prominent players. To maintain a competitive edge, the major industry participants are continually implementing various growth strategies. Innovations, mergers, and acquisitions, collaborations and partnerships are adopted by these players to thrive in the competitive market. Key players include Siemens, NEL Hydrogen, ThyssenKrupp, ITM Power, and McPhy Energy among others. Due to the anticipated increased demand for the product in the near future, the producers are concentrating on increasing their manufacturing capacity. 'Siemens AG', 'Yara International ASA', 'Nel Hydrogen', 'Air Liquide SA', 'Mitsubishi Heavy Industries Ltd.', 'Engie SA', 'thyssenkrupp AG', 'Green Ammonia Solutions', 'AFC Energy Plc', 'MAN Energy Solutions', 'Haldor Topsoe A/S', 'Siemens Energy AG', 'Ørsted A/S', 'Hydrogenics Corporation', 'Toshiba Energy Systems & Solutions Corporation', 'Black & Veatch Holding Company', 'ITM Power Plc', 'McPhy Energy SA', 'Kawasaki Heavy Industries Ltd.', 'Exelon Corporation'

Globally, the quality of soil has significantly declined as a result of widespread use of chemical fertilisers and pesticides. Need for organic fertilisers is developing quickly in response to the growing demand for sustainable agricultural practises that reduce risk generation and carbon emissions. Important agrochemical producers are being compelled by this to change their preference for green and sustainable goods like green ammonia. Thus, increased demand for environmentally friendly fertilisers to lessen environmental risks and pollution is anticipated to drive up green ammonia sales throughout the forecast period.

Currently, the shipping industry is responsible for 3% of the world's greenhouse gas emissions, mostly because ships utilise a lot of diesel and high-sulfur fuel. Heavy fuel oil, which is produced as a byproduct of crude oil distillation, is the primary kind of bunker oil used by ships. When this oil with a high sulphur concentration is used in a ship's engine, toxic SOx are released into the atmosphere. By combining creative ship designs and ammonia as an alternative fuel, the International Maritime Organization (IMO's) 2050 emission reduction targets can be met. The highest hydrogen transporter with the highest energy density is ammonia. As a result, it can supply energy to ships. By 2050, ammonia may account for 25% of the fuel mix used in ships, according to the IMO.

North America region dominated the Global Green Ammonia Market in 2021. Rising R&D for hydrogen generation and the uptake of electric vehicles in the region are credited with this rise. Government backing, increasing investor investments, and the viability of the technology in the region are further factors boosting market growth. The U.S. market is being impacted by the sizeable presence of major production businesses and important technology suppliers, the adoption of strict laws, and the rising trend of employing green fertilisers. Similarly, it is anticipated that during the forecast period, increasing investments in green hydrogen, rising prominence of green ammonia as a hydrogen carrier, and increasing focus on the development of renewable fuels for the transportation and power generation sectors will drive demand for green ammonia in the nation.

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