Green Ammonia Market Set to Reach $140.2 Billion by 2034 Amid Global Clean Energy Shift

Global Green Ammonia Market Size, Share & Trends Analysis Report By Technology (Alkaline Water Electrolysis (AWE), Proton Exchange Membrane (PEM) Electrolysis, Solid Oxide Electrolysis), End-Use Application (Transportation, Power Generation, Industrial Feedstock), By Region, And Segment Forecasts, 2025-2034

The global Green Ammonia market is estimated to reach over USD 140.2 billion by the year 2034, exhibiting a CAGR of 70.0% during the forecast period.

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Renewable ammonia is anticipated to gain widespread adoption throughout the forecast period, driven by intensified governmental initiatives aimed at achieving low or net-zero carbon emissions. It is expected to become a critical medium for the interregional transportation of renewable energy in the coming years. Market growth will also be supported by escalating demand across diverse end-use sectors, including fertilizers, power generation, transportation, and others. Furthermore, the increasing requirement for green ammonia in pharmaceutical and industrial feedstock applications is projected to further fuel market expansion.

The global renewable ammonia market experienced considerable disruption due to the COVID-19 pandemic, as lockdowns and travel restrictions impeded operational activities and led to workforce shortages. These challenges caused interruptions in production and temporary shutdowns of manufacturing facilities. Nevertheless, with the expanding applications of renewable ammonia, heightened environmental awareness, and supportive regulatory frameworks, the market is poised for substantial growth during the forecast period.

List of Prominent Players in the Green Ammonia Market:
• Siemens Energy
• Thyssenkrupp Ag
• Man Energy Solutions
• Nel Asa
• ITM Power
• Mcphy Energy S.A.
• Enapter S.R.L.
• Green Hydrogen Systems
• Fuelpositive Corporation
• Stamicarbon
• Hydrogenics
• Hygenco
• Electrochaea
• Starfire Energy
• Exytron
• Aquahydrex
• Yara International
• BASF SE
• Engie
• Uniper SE
• Queensland Nitrates

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Market Dynamics:
Drivers:
The global green ammonia market is projected to witness substantial growth over the forecast period, propelled by increasing environmental awareness and a growing shift towards renewable energy sources. This expansion is further supported by the implementation of stringent environmental regulations and proactive government policies aimed at reducing dependency on fossil fuels. Additionally, the rising demand for fertilizers to enhance agricultural productivity and improve crop quality is fueling the demand for green ammonia.

Challenges:
Globally, government initiatives focused on reducing greenhouse gas emissions have elevated consumer preference for low-carbon alternatives such as green ammonia. The declining costs of renewable energy technologies, including wind and solar power, have improved the economic feasibility of producing green ammonia through renewable energy sources in recent years.

Regional Trends:
North America stands as the largest consumer of green ammonia, driven primarily by its application in transportation, power generation, and agriculture. The region's expanding population and increasing food demand have stimulated growth in the agricultural sector, thereby augmenting regional consumption of green ammonia. Agriculture remains a vital industry in the United States, which, as of 2021, comprised over 2 million farms encompassing approximately 895 million acres of farmland, with an average farm size of about 445 acres. The rising demand for crops such as corn and cereals further underscores the importance of green ammonia in supporting agricultural outputs.

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Recent Developments:
• In May 2022, According to LSB Industries, Inc., it has agreements with ThyssenKrupp Uhde USA, LLC and Bloom Energy to build a project that will create about 30,000 metric tonnes of green or zero-carbon ammonia annually at LSB's facility in Pryor, Oklahoma.

Segmentation of Green Ammonia Market-
By Technology-
• Alkaline Water Electrolysis
• Proton Exchange Membrane
• Solid Oxide Electrolysis
By End-Use Application-
• Power Generation
• Transportation
• Industrial Feedstocks
By Region-
North America-
• The US
• Canada
• Mexico
Europe-
• Germany
• The UK
• France
• Italy
• Spain
• Rest of Europe
Asia-Pacific-
• China
• Japan
• India
• South Korea
• South East Asia
• Rest of Asia Pacific
Latin America-
• Brazil
• Argentina
• Rest of Latin America
Middle East & Africa-
• GCC Countries
• South Africa
• Rest of Middle East and Africa

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This release was published on openPR.