Green Ammonia Market Size to Grow $5415 Million by 2030, at a CAGR of 90.2%

Green Ammonia Market Size to Grow $5415 Million by 2030, at a CAGR of 90.2%
The global green ammonia market size is expected to grow from USD 16 million in 2021 to reach USD 5,415 million by 2030, at a CAGR of 90.2% during the forecast period.

The global Green Ammonia Market size is expected to grow from USD 16 million in 2021 to reach USD 5,415 million by 2030, at a CAGR of 90.2% during the forecast period. Green hydrogen projects are increasing as many countries are focusing on investing in the development of a hydrogen-based economy. Investments in hydrogen infrastructure will subsequently bring opportunities for green ammonia production to reuse carbon-free hydrogen for a longer duration. Moreover, green ammonia is envisioned as a future fuel for ships to cut down emissions from ship engine combustion. This will further create opportunities in the green ammonia market.

According to the International Renewable Energy Agency (IRENA), solar and wind are high potential renewable energy sources and are likely to dominate the renewable power sector in the coming years. Solar and wind energy have been growing relatively faster than other renewable energy sources, mainly due to investments in these areas and falling power generation costs. Thus, increasing renewable energy generation and a subsequent rise in the demand for storage will drive the growth of the green ammonia market.

Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=118396942

Power generation is estimated to be the largest segment in the green ammonia market.

Power generation segment is projected to be the largest segment in the green ammonia market. The growth of this segment is mainly attributed to the high demand of energy requirements for various end use industries. With green ammonia production, renewable energy can be stored and reused for power generation at consumption points. This will make the generation of renewable energy more efficient and usable for the long term.

Europe expected to be the largest green ammonia market

Europe is expected to account for the largest share of the global green ammonia market during the forecast period. An increasing number of fuel cell projects and government initiatives for the deployment of fuel cells in the residential and commercial sectors are likely to provide opportunities for the growth of the green ammonia market in the region. Furthermore, the surging adoption of electric vehicles is also expected to boost the fuel cells market in this region, which, in turn, would boost the market for green ammonia.

Request Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=118396942  

Some of the key market players in the Green Ammonia Market include Siemens Energy (Germany), MAN Energy Solutions (Germany), Nel Hydrogen (Norway), ThyssenKrupp AG (Germany), ITM Power (UK), Green Hydrogen Systems (Denmark), McPhy Energy (France), Hydrogenics (Canada), AquaHydrex (US), Uniper (Germany), Starfire Energy (US), ENGIE (France), Yara International (Norway), BASF SE (Germany), Haldor Topsoe (Denmark), and Hiringa Energy (New Zealand).

About MarketsandMarkets™

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the ‘GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies – helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.

Contact:

Mr. Aashish Mehra

MarketsandMarkets™ INC.

630 Dundee Road

Suite 430

Northbrook, IL 60062

USA: +1-888-600-6441

Email: sales@marketsandmarkets.com

Content Source: https://www.marketsandmarkets.com/PressReleases/green-ammonia.asp

Media Contact
Company Name: MarketsandMarkets™ Research Private Ltd.
Contact Person: Mr. Aashish Mehra
Email: Send Email
Phone: 18886006441
Address:630 Dundee Road Suite 430
City: Northbrook
State: IL 60062
Country: United States
Website: https://www.marketsandmarkets.com/Market-Reports/green-ammonia-market-118396942.html