Green Ammonia Market Projected to Reach USD 146.45 Billion by 2034, Growing at a CAGR of 72.14%

Evolve Business Intelligence has published a research report on the Global Green ammonia Market, 2023–2033. The global Green ammonia Market is projected to exhibit a CAGR of around 72.14% during the forecast period of 2023 to 2033.

Evolve Business Intelligence has recognized the following companies as the key players in the global Green ammonia Market: ACME GROUP, BASF SE, YARA, SIEMENS Energy, Engie, CF Industries Holdings Inc. (CF), Uniper SE, GREENKO Group, INTERCONTINENTAL ENERGY And Allied Green Ammonia Pty Ltd.

Market Highlights

The Green ammonia Market is projected to be valued at USD 146.45 Billion by 2034, recording a CAGR of around 72.14% during the forecast period. The Green Ammonia Market refers to the global industry centered around the production, distribution, and utilization of ammonia that is synthesized using renewable energy sources instead of conventional fossil fuels. In green ammonia production, hydrogen is typically derived through the electrolysis of water powered by renewable energy sources such as wind, solar, or hydropower, and then combined with nitrogen from the air to create ammonia.

The Green Ammonia Market is projected to expand rapidly as industries and governments work towards decarbonization, sustainability, and renewable energy goals.

Segmental Analysis

The Green ammonia Market has been segmented based on Technology, Capacity and End User.

Based on Technology, the Green ammonia Market is segmented into alkaline water electrolysis, proton exchange membran and solid oxide electrolysis. The Proton exchange membran segment is anticipated to dominate the market.

Based on Capacity, the Green ammonia Market has been divided into High, Medium and Low. The Medium segment is anticipated to dominate the market.

Based on End User, the Green ammonia Market has been divided into Power Generation, Transportation and Industrial Feedstocks. The Transportation segment is anticipated to dominate the market.

Regional Analysis

The Green ammonia Market is divided into five regions: North America, Europe, Asia-Pacific, South America, and the Middle East, &Africa. North America has significant growth potential due to abundant renewable energy resources and increasing investments in green hydrogen projects. The region’s well-developed hydrogen and ammonia industries, along with established supply chains and infrastructure, contribute to this leadership. Europe currently holds the largest market share due to strong government support for renewable energy and ambitious climate targets. The region’s green ammonia industry is anticipated to grow due to the trend toward using environmentally friendly chemicals. The Asia-Pacific region is projected to be the fastest-growing market due to its rapidly expanding industrial sector and increasing energy demand. The Asia-Pacific region is projected to be the fastest-growing market due to its rapidly expanding industrial sector and increasing energy demand. Latin America region boasts vast renewable energy potential, particularly in solar, wind, and hydropower, providing a solid foundation for green ammonia production. Increasing energy demand across various sectors, coupled with a need to decarbonize economies, is driving interest in green ammonia as a clean energy carrier. The Middle East and Africa possess abundant solar and wind resources, making them ideal locations for large-scale green ammonia production.