According to a research report "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 - Global Forecast to 2030" published by MarketsandMarkets, the global green ammonia market is estimated to be valued at USD 0.3 billion in 2023 (estimated year) and is projected to reach USD 17.9 billion by 2030 (forecast year), growing at a CAGR of 72.9% during the forecast period.
Browse 223 market data Tables and 51 Figures spread through 223 Pages and in-depth TOC on "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 - Global Forecast to 2030"
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The green ammonia market has promising growth potential due to the rising deployment of fuel cell vehicles.
Alkaline water electrolysis expected to dominate green ammonia market, by technology, during the forecast period
The alkaline water electrolysis segment holds the largest share of the green ammonia market. The large market share can be attributed to the increasing number of large scale projects for the green hydrogen production.
Power generation to witness fastest growth rate in green ammonia market, by application, during forecast period
The green ammonia market, by application, is divided into power generation, transportation and industrial feedstocks, wherein industrial feedstocks accounts for the largest share. Power generation is the fastest growing segment during the forecast period. The growth is attributed to the increasing number of deployments of alkaline water electrolysis for small scale power generation applications in Europe and Asia Pacific.
Europe expected to dominate green ammonia market during forecast period
In this report, the green ammonia market has been analyzed for four regions: Europe, Asia Pacific, North America and the rest of the World. Europe is a significant contributor to the green ammonia market in the current scenario of electrolysis technology, owing to the rapidly increasing cost-competitiveness which enables consumers to have access to clean electricity.
To enable an in-depth understanding of the competitive landscape, the report includes the profiles of a few of the top players in the green ammonia market.
The Green ammonia market is dominated by a few major players that have a wide regional presence. The leading players in the green ammonia market are Siemens Energy (Germany), NEL ASA (Norway), ThyssenKrupp AG (Germany), ITM Power (UK), YARA International (Norway), and BASF SE (Germany) and others.
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