Green Ammonia Market 2023: Growth Expansion by Comprehensive Research Report Analysis till 2031

The power generation segment held the largest share of nearly two-fifths of the global green ammonia market in 2021, and is expected to maintain a prominent growth during the forecast period. The world's population growth, followed by rapid urbanization in emerging countries, and an increase in the number of consumers led to a steady increase in electricity demand, thereby contributing to the growth of the global power generation market. Increase in demand for smart grids is expected to be another key feature for the development of the global power generation market in the coming years. However, the others segment is expected to exhibit the highest CAGR of 81.2% in 2031. Ammonia, being an important feedstock for the nitrogenous fertilizer industry has a promising potential as a dispatchable energy vector.

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A complete and wide-ranging evaluation of the aspects that drive and restrain the market growth is also provided throughout the study. This detailed exploration of the market size and its proper segmentation help the market players define the prevalent opportunities that are looming large.

According to the report, the global green ammonia industry is estimated to generate $0.02 billion in 2021 and $6.5 billion by 2031, witnessing a CAGR of 80.1% from 2022 to 2031.

The report helps clients in comprehending the first-hand knowledge of the global market while providing a full-fledged understanding of the regional-level analysis of each segment. At the same time, the study contain in-depth information of the frontrunners that are active in the industry along with their financial agenda, segmental profits, company trends, services/products offerings, and major adopted stratagems.

Rise in public concern and government regulations related to carbon emissions and the protection of environmental health fuels the growth of the global green ammonia market. However, high initial capital requirements for green ammonia plant infrastructure is likely to hinder the global market growth.

The Green ammonia market report keeps a perfect tab on the market share of several companies, recent market trends, revenue forecast, and new product launches across the market. The report includes company profiles that delineate the revenue share of the top competitors in the market. Simultaneously, the report provides revenue forecasts for four regions and more than twenty major countries across Asia-Pacific, LAMEA. North America and Europe.

The market in Asia-Pacific is likely to show the fastest CAGR of 81.1% during the forecast period. Growing investments in green hydrogen, increasing prominence of green ammonia as a hydrogen carrier, and rising focus on the development of renewable fuels for transportation and power generation sectors are expected to push the demand for green ammonia in the region during the forecast period. However, Europe was the largest market in 2021, accounting for nearly two-fifths of the global green ammonia market share, and is likely to maintain its dominance during the forecast timeframe.

Green Ammonia Covered Market:- Siemens AG, NEL ASA, ThyssenKrupp, ITM Power, CF Industries Holdings, Inc., Ballard Power Systems, AMMPower Corp, FUELPOSITIVE Corporation and Other.

Analysis of COVID-19 impact:

The outbreak of the pandemic has had a massive impact on the majority of industries and the Green ammonia market was also not an exception in this regard. The report provides a detailed study on the micro- and macro-economic impact during the pandemic. Additionally, it emphasizes the direct impact of the COVID-19 pandemic on the Green ammonia market in the form of qualitative study. The report offers explicit details regarding the market extent and shares during this unprecedented time. At the same time, the major strategies adopted by the market players to combat the global crisis is also covered under the report. Last but not the least, the report highlights how the pandemic has distorted the supply chain of the market and takes in a post-COVID-19 analysis too.

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