Global Green Ammonia Market to Reach $17.9 Billion by 2030: Enforcement of Regulatory Policies and Provision of Incentives to Reduce GHG Emissions Drives Growth: Research and Markets

DUBLIN, March 21, 2023 /PRNewswire/ -- The "Global Green Ammonia Market by Technology (Alkaline Water Electrolysis (AWE), Proton Exchange Membrane (PEM) Electrolysis, Solid Oxide Electrolysis), End-Use Application (Transportation, Power Generation, Industrial Feedstock) & Region - Forecast to 2030" report has been added to  ResearchAndMarkets.com's offering.

The green ammonia market is estimated to grow from USD 0.3 billion in 2023 to USD 17.9 billion by 2030, at a CAGR of 72.9% during the forecast period.

The primary drivers of the market include the rising demand for combined heat and power plants for small-scale applications.

Solid oxide electrolysis technology segment to be fastest-growing market from 2023 to 2030

The green ammonia market, by technology, is alkaline water electrolysis, proton exchange membrane electrolysis, and solid oxide electrolysis.

The proton exchange membrane electrolysis is expected to be the second-largest segment as proton exchange membrane electrolysis has high efficiency in producing green hydrogen.

Industrial Feedstocks, by application, expected to be largest market from 2023 to 2030

The green ammonia market, by application, is bifurcated into power generation, transportation and industrial feedstocks. The industrial feedstocks segment is expected to be the largest market, followed by power generation during the forecast period.

This dominance is because of the need for green fertilizers in agricultural industries.

Market Dynamics

Drivers

• Need to Store Renewable Energy for Longer Term
• Enforcement of Regulatory Policies and Provision of Incentives to Reduce Ghg Emissions
• Increased Need for Eco-Friendly Fertilizers with Rising Agricultural Production

Restraints

• High Initial Cost to Set Up Green Ammonia Plant

Opportunities

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

Challenges

• Lack of Information About Green Ammonia Among Chemical Manufacturers
• Low Level of Technology Readiness for Using Ammonia as Zero-Carbon Fertilizer, Fuel, and Energy Storage

Case Study Analysis

• Downscaling Haber-Bosch
• Storing and Transporting Renewable Energy

Companies Mentioned

• Aquahydrex
• Basf Se
• Electrochaea
• Enapter S.R.L.
• Engie
• Exytron
• Fuelpositive Corporation
• Green Hydrogen Systems
• Hiringa Energy
• Hydrogenics
• Hygenco
• Itm Power
• Man Energy Solutions
• Mcphy Energy S.A.
• Nanjing Kapsom Engineering Limited
• Nel Asa
• Queensland Nitrates
• Siemens Energy
• Stamicarbon
• Starfire Energy
• Thyssenkrupp Ag
• Topsoe
• Uniper Se
• Yara International

For more information about this report visit https://www.researchandmarkets.com/r/g45s2d

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SOURCE Research and Markets