// changes done below on July 01 2024 // till here on July 01 2024

Green Ammonia Market Revenue to Cross US$ 55 billion by 2032 | Roots Analysis

Published: February 2024


According to a recently published report by Roots Analysis, the growing global demand for sustainable energy solutions, coupled with the rising focus on reducing carbon emissions in different industries is serving as a significant driver for the growth of the green ammonia market.

Green Ammonia Industry Overview

The global green ammonia market is anticipated to grow at a CAGR of 72.5% from 2024-2032, reaching USD 55 billion by 2032.

Green ammonia, produced using renewable energy sources, is a versatile commodity with potential applications in energy storage, transportation, and agriculture. It is made by combining nitrogen with hydrogen through a process called ammonia synthesis. As the world seeks to reduce carbon emissions and transition to sustainable energy sources, green ammonia offers a climate-friendly way to store energy and has the potential to become a key component in the clean energy landscape, significantly reducing carbon emissions.

Browse 70+ figures and 120+ market data tables spread across 170+ pages and detailed Table of Content on “Green Ammonia Market, Industry Trends and Global Forecasts, till 2032: Distribution by Type of Electrolyzer Technology, Type of Power, Type of Renewable, Production Plant Capacity, Developer Company Size, Application Area, Geography and Leading Players” here: https://www.rootsanalysis.com/reports/green-ammonia-market.html

Market Drivers

The green ammonia market experiences robust growth propelled by stringent environmental regulations aimed at reducing greenhouse gas emissions. Industries are urged to adopt sustainable practices, with green ammonia emerging as a promising solution produced from renewable energy sources, such as wind and solar power. This aligns well with sustainability initiatives in agriculture-driven economies, driving market growth.

Market Restraints

High initial investments required for transitioning existing ammonia production facilities pose significant restraints. In addition, infrastructure upgrades and technology investments, especially for smaller players and developing economies, create barriers. Further, uncertainties regarding scalability, efficiency, and cost-effectiveness compared to conventional methods impede adoption, alongside concerns about green energy supply consistency and intermittency issues associated with renewable sources.

Growth Factors

Technological advancements, collaborative efforts between governments, industry stakeholders, and research institutions, and increasing investments in renewable energy infrastructure are key growth factors. Furthermore, the emergence of green hydrogen complements the green ammonia market, fostering synergies and driving innovation across multiple sectors.

Green Ammonia Market Segments

Based on the type of electrolyzer technology, the market is segmented into alkaline water electrolysis, solid oxide electrolyzer cell, and polymer electrolyte membrane electrolysis

  • The alkaline water electrolysis segment led the green ammonia market, capturing the largest revenue share of more than 65% in 2024.
  • The solid oxide electrolyzer cell segment is anticipated to be the fastest growing segment in this industry, growing at an annualized rate (CAGR) of 101.4%, during the forecast period.

Based on the type of power source, the market is segmented into grid and dedicated renewable

  • The dedicated renewables segment led the green ammonia market, capturing the largest revenue share of 98% in 2024.
  • In fact, the grid + dedicated renewable is anticipated to be the fastest growing segment in this industry, growing at an annualized rate (CAGR) of 85.01%, during the forecast period.

Based on the type of renewable, the market is segmented into hydropower, solar PV, wind power, and hybrid

  • The hybrid plant segment led the green ammonia market, capturing the largest revenue share of more than 40% in 2024.
  • In fact, hybrid plant segment is anticipated to be the fastest growing segment in this industry, growing at an annualized rate (CAGR) of 86.1%, during the forecast period.

Based on the production plant capacity, the market is segmented into low, medium, high and very high capacity plants

  • The medium capacity plants segment (0.1 to 0.5 million tons) led the green ammonia market, capturing the largest revenue share of more than 60% in 2024.
  • The very high capacity (more than 1 million tons) segment is anticipated to be the fastest growing segment in this industry, growing at an annualized rate (CAGR) of 66.15%, during the forecast period.

Based on the developer company size, the market is segmented into very small / small, mid-sized, large and very large companies

  • The very large companies (more than 10,000 employees) segment led the green ammonia market, capturing the largest revenue share of 42% in 2024.
  • The mid-sized companies (51-500 employees) segment is anticipated to be the fastest growing segment in this industry, growing at an annualized rate (CAGR) of 133.6%, during the forecast period.

Based on the application area, the market is segmented into industrial feedstock, maritime/shipping fuel and other application areas

  • The industrial feedstock segment led the green ammonia market, capturing the 100% revenue share in 2024.
  • The other application areas segment is anticipated to be the fastest growing segment in this industry, growing at an annualized rate (CAGR) of 64.77%, during the forecast period.

Based on the geography, the market is segmented into North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa

  • The Europe segment led the green ammonia market, capturing the largest revenue share of more than 33% in 2024.
  • The North America segment is anticipated to be the fastest growing segment in this industry, growing at an annualized rate (CAGR) of 98.4%, during the forecast period.

Key Companies Presented

The green ammonia market report also includes detailed information of key players (listed below) that claim to provide green ammonia manufacturing services:

  • ACME Group
  • Amea Power
  • Amp Energy
  • Aquamarine
  • Bear Head Energy
  • CWP Global
  • Envision Technology Group
  • Fertiglobe
  • Fortescue Future Industries (FFI)
  • Greenko
  • Hassan Allam Utilities
  • Helios Industry
  • Hydreen (HLC Green Energy)
  • HYRASIA ONE
  • Iberdrola
  • Infinity Power
  • InterContinental Energy
  • Masdar
  • OCP Group
  • Sany Heavy Energy
  • Solatio Energia
  • TGS
  • Sonangol
  • The Hydrogen Utility™ (H2U)
  • Total Eren (acquired by Total Energies)
  • Transhydrogen Alliance (THA)
  • Unigel

You Can Download Free Sample PDF Copy of This Report At:
https://www.rootsanalysis.com/reports/green-ammonia-market/request-sample.html

About Roots Analysis

Roots Analysis is a global leader in the pharma / biotech market research. Having worked with over 750 clients worldwide, including Fortune 500 companies, start-ups, academia, venture capitalists and strategic investors for more than a decade, we offer a highly analytical / data-driven perspective to a network of over 450,000 senior industry stakeholders looking for credible market insights. All reports provided by us are structured in a way that enables the reader to develop a thorough perspective on the given subject. Apart from writing reports on identified areas, we provide bespoke research / consulting services dedicated to serve our clients in the best possible way.

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