Green Ammonia Market by Technology (Alkaline Water Electrolysis, Proton Exchange Membrane, and Solid Oxide Electrolysis), End Use (Transportation, Power Generation, Industrial Feedstock, and Others): Global Market Size Estimates and Forecast (2022-2030)

Code: BMIRE00026741 | Pages: 100 | Industry: Chemicals and Materials | Date: Oct 2022 | Type: Global

The market crossed the US$ 30 million mark in 2022 and is expected to hit US$ 4,600 million by 2030, recording a CAGR of 70% during the forecast period.

Green ammonia market is significantly increasing with rising stringent emission regulations.    

Demand for long-term storage of renewable energy, obligations to reduce the greenhouse emission from tractional ammonia production method, increasing agricultural production and subsequent rise in fertilizers consumption are some of the major factors driving the growth of the market. The alkaline water electrolysis segment is expected to pace up as it uses an aqueous alkaline solution of potassium or sodium hydroxide as the electrolyte. This technology is relatively mature and is cost-effective. Proton exchange membrane, and solid oxide electrolysis segments are also expected to grow at a significant rate during the forecast period.

Within the report, the market is segmented into technology, end use, and geography. By technology, the market is further segmented into alkaline water electrolysis, proton exchange membrane, and solid oxide electrolysis. By end use, the market is categorized into transportation, power generation, industrial feedstock, and others. Geographically, the market is sub segmented into North America, Europe, Asia Pacific, South & Central America, and Middle East & Africa.

Demand for long-term storage of renewable energy has empowered the growth of the market

Green ammonia production is where the process of making ammonia is 100% renewable and carbon-free. In recent years, the renewable energy generation continues to outpace fossil fuel power generation in the overall capacity. Increasing stringent emission regulation and zero-carbon energy goals are fueling the demand for green ammonia. Growing investment in the green hydrogen, increasing prominence of green ammonia as a hydrogen carrier, and rising focus on development of renewable fuel for transportation and power generation has expected to drive the market growth.

Rising adoption in various industries is one of the major factors accelerating the market growth

The industries for green ammonia market are transportation, power generation, industrial feedstock, and others. Within these industries, power generation industry is one such industry, wherein the use of green ammonia is increasing owing to rising demand for zero carbon energy goals. Key players in the market are aiming to utilize green ammonia as a feedstock for power generation, resulting in several projects on constructing turbines and engines that can use green ammonia as feedstock. The transportation, and industrial feedstock has also witnessed an extensive use of green ammonia.

Recent strategic developments in green ammonia market

The green ammonia market has undergone several significant developments, and a few of these have been mentioned below:

  • In November 2021, Green Fuel signed a Memorandum of Understanding (MOU) with Haldor Topsoe to partner for the identification of efficient and scalable technologies for the production of green ammonia in Iceland.

The green ammonia market is driven by several players by implementing strategic activities such as investments, new launches, mergers & acquisitions, and partnerships. Siemens Energy, MAN Energy Solutions, Nel Hydrogen, ThyssenKrupp AG, and EXYTRON are among the prominent players operating in the market.

Target audience for the report:

  • Raw material providers
  • Green ammonia related associations, organizations, forums, and alliances
  • Government bodies, such as regulating authorities and policy makers
  • Venture capitalists, private equity firms, and start-up companies
  • Application industry of green ammonia industry
  • Research institutes, organizations, and consulting companies

Scope of the report:

In this report, the market has been segmented on the basis of:

  • Technology:
    • Alkaline Water Electrolysis
    • Proton Exchange Membrane
    • Solid Oxide Electrolysis
  • End Use:
    • Transportation
    • Power Generation
    • Industrial Feedstock
    • Others
  • Region
    • North America
    • Europe
    • Asia Pacific (APAC)
    • South & Central America
    • Middle East & Africa
  • Companies profiled
    • Siemens Energy
    • MAN Energy Solutions
    • Nel Hydrogen
    • ThyssenKrupp AG

The List of Companies
- Siemens Energy
- MAN Energy Solutions
- Nel Hydrogen
- ThyssenKrupp AG

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