Green Ammonia Market Size is valued at 0.7 Billion in 2024 and is predicted to reach 140.2 billion by the year 2034 at a 70.0% CAGR during the forecast period for 2025-2034.
In the upcoming years, the market demand is anticipated to increase as green ammonia becomes more commonplace due to growing awareness of the importance of creating clean energy and lowering carbon footprints. It is also projected that market expansion will be fueled shortly by the rising demand for the product as a marine fuel and shipping in the transportation sector because it emits no carbon and leaves no sulfur traces, leading to enhanced air quality. Nitrogen from the air and hydrogen from water combine to form green ammonia. It is a versatile fuel for heat and electricity that may be used in gas turbines, internal combustion engines, generator sets, industrial furnaces, and fuel cells. It is notably useful for naval transportation.
Green ammonia is the ideal choice due to the pressure on the shipping industry to decrease carbon emissions because it has a lower volumetric energy density than other fuels, which makes storage viable. The market is also expanding due to favorable laws and regulations governing low-carbon emissions and rising fuel demand from the marine industry.
The Green Ammonia market is segmented by technology and end-use application. Based on technology, the market is segregated into alkaline water electrolysis, solid oxide electrolysis, and proton exchange membrane. By the end-use application, the market is segmented into transportation, power generation, and industrial feedback.
The market with the biggest revenue share was dominated by proton exchange membrane technology. The cause for this is that people are becoming more conscious of the benefits of this technology, which has an electric efficiency of above 90% and large current densities at low voltages. Favorable government incentives for the generation of green and clean energy as well as enhanced R&D on fuel cell technologies, can also boost product demand.
With the largest revenue share, the transportation sector dominated the market. The worldwide fuel energy crisis, which has fueled the need for green fuel, is to blame for its large share. Renewable sources, including green ammonia and others, are replacing conventional ones. These sources generate energy that is clean, effective, and environmentally benign.
The market with the largest revenue share was dominated by North America. The adoption of electric vehicles in the area and increased R&D for hydrogen production are credited with this surge. In addition, the market expansion is being fueled by government assistance, increasing investor involvement, and the viability of the technology in the area. The Asia Pacific market is predicted to grow. This is a result of government policies and programmes that aim to cut carbon emissions and promote renewable energy. For instance, the Indian government has offered subsidies to encourage the usage of electric cars there.
|
Report Attribute |
Specifications |
|
Market size value in 2024 |
USD 0.7 Bn |
|
Revenue forecast in 2034 |
USD 140.2 Bn |
|
Growth rate CAGR |
CAGR of 70.0% from 2025 to 2034 |
|
Quantitative units |
Representation of revenue in US$ Billion, Volume (Tons) and CAGR from 2025 to 2034 |
|
Historic Year |
2021 to 2024 |
|
Forecast Year |
2025-2034 |
|
Report coverage |
The forecast of revenue, the position of the company, the competitive market statistics, growth prospects, and trends |
|
Segments covered |
Technology And End-Use Application |
|
Regional scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
|
Country scope |
U.S.; Canada; U.K.; Germany; Japan; Brazil; Mexico; The UK; France; Italy; Spain; Japan; India; South Korea; Southeast Asia |
|
Competitive Landscape |
Siemens Energy, NELASA, ThyssenKrupp AG, ITM Power, YARA International, and BASF SE. |
|
Customization scope |
Free customization report with the procurement of the report, Modifications to the regional and segment scope. Particular Geographic competitive landscape. |
|
Pricing and available payment methods |
Explore pricing alternatives that are customized to your particular study requirements. |
Chapter 1. Methodology and Scope
1.1. Research Methodology
1.2. Research Scope & Assumptions
Chapter 2. Executive Summary
Chapter 3. Global Green Ammonia Market Snapshot
Chapter 4. Global Green Ammonia Market Variables, Trends & Scope
4.1. Market Segmentation & Scope
4.2. Drivers
4.3. Challenges
4.4. Trends
4.5. Investment and Funding Analysis
4.6. Industry Analysis – Porter’s Five Forces Analysis
4.7. Competitive Landscape & Market Share Analysis
4.8. Impact of Covid-19 Analysis
Chapter 5. Market Segmentation 1: by Technology Estimates & Trend Analysis
5.1. by Technology & Market Share, 2024 & 2034
5.2. Market Size (Value (US$ Mn) & Volume (Tons) & Forecasts and Trend Analyses, 2021 to 2034 for the following by Technology:
5.2.1. Alkaline Water Electrolysis
5.2.2. Proton Exchange Membrane
5.2.3. Solid Oxide Electrolysis
Chapter 6. Market Segmentation 2: by End-users Estimates & Trend Analysis
6.1. by End-users & Market Share, 2024 & 2034
6.2. Market Size (Value (US$ Mn) & Volume (Tons) & Forecasts and Trend Analyses, 2021 to 2034 for the following by End-users:
6.2.1. Power Generation
6.2.2. Transportation
6.2.3. Industrial Feedstocks
Chapter 7. Green Ammonia Market Segmentation 3: Regional Estimates & Trend Analysis
7.1. North America
7.1.1. North America Green Ammonia Market Revenue (US$ Million) & Volume (Tons) Estimates and Forecasts by Technology, 2021-2034
7.1.2. North America Green Ammonia Market Revenue (US$ Million) & Volume (Tons) Estimates and Forecasts by End-users, 2021-2034
7.1.3. North America Green Ammonia Market Revenue (US$ Million) & Volume (Tons) Estimates and Forecasts by country, 2021-2034
7.2. Europe
7.2.1. Europe Green Ammonia Market Revenue (US$ Million) & Volume (Tons) Estimates and Forecasts by Technology, 2021-2034
7.2.2. Europe Green Ammonia Market Revenue (US$ Million) & Volume (Tons) Estimates and Forecasts by End-users, 2021-2034
7.2.3. Europe Green Ammonia Market Revenue (US$ Million) & Volume (Tons) Estimates and Forecasts by country, 2021-2034
7.3. Asia Pacific
7.3.1. Asia Pacific Green Ammonia Market Revenue (US$ Million) & Volume (Tons) Estimates and Forecasts by Technology, 2021-2034
7.3.2. Asia Pacific Green Ammonia Market Revenue (US$ Million) & Volume (Tons) Estimates and Forecasts by End-users, 2021-2034
7.3.3. Asia Pacific Green Ammonia Market Revenue (US$ Million) & Volume (Tons) Estimates and Forecasts by country, 2021-2034
7.4. Latin America
7.4.1. Latin America Green Ammonia Market Revenue (US$ Million) & Volume (Tons) Estimates and Forecasts by Technology, 2021-2034
7.4.2. Latin America Green Ammonia Market Revenue (US$ Million) & Volume (Tons) Estimates and Forecasts by End-users, 2021-2034
7.4.3. Latin America Green Ammonia Market Revenue (US$ Million) & Volume (Tons) Estimates and Forecasts by country, 2021-2034
7.5. Middle East & Africa
7.5.1. Middle East & Africa Green Ammonia Market Revenue (US$ Million) & Volume (Tons) Estimates and Forecasts by Technology, 2021-2034
7.5.2. Middle East & Africa Green Ammonia Market Revenue (US$ Million) & Volume (Tons) Estimates and Forecasts by End-users, 2021-2034
7.5.3. Middle East & Africa Green Ammonia Market Revenue (US$ Million) & Volume (Tons) Estimates and Forecasts by country, 2021-2034
Chapter 8. Competitive Landscape
8.1. Major Mergers and Acquisitions/Strategic Alliances
8.2. Company Profiles
8.2.1. Siemens Energy
8.2.2. Thyssenkrupp Ag
8.2.3. Man Energy Solutions
8.2.4. Nel Asa
8.2.5. ITM Power
8.2.6. Mcphy Energy S.A.
8.2.7. Enapter S.R.L.
8.2.8. Green Hydrogen Systems
8.2.9. Fuelpositive Corporation
8.2.10. Stamicarbon
8.2.11. Hydrogenics
8.2.12. Hygenco
8.2.13. Electrochaea
8.2.14. Starfire Energy
8.2.15. Exytron
8.2.16. Aquahydrex
8.2.17. Yara International
8.2.18. BASF SE
8.2.19. Engie
8.2.20. Uniper SE
8.2.21. Queensland Nitrates
8.2.22. Other Prominent Players
Green Ammonia Market By Technology-
Green Ammonia Market By End-Use Application-
Green Ammonia Market By Region-
North America-
Europe-
Asia-Pacific-
Latin America-
Middle East & Africa-
InsightAce Analytic follows a standard and comprehensive market research methodology focused on offering the most accurate and precise market insights. The methods followed for all our market research studies include three significant steps – primary research, secondary research, and data modeling and analysis - to derive the current market size and forecast it over the forecast period. In this study, these three steps were used iteratively to generate valid data points (minimum deviation), which were cross-validated through multiple approaches mentioned below in the data modeling section.
Through secondary research methods, information on the market under study, its peer, and the parent market was collected. This information was then entered into data models. The resulted data points and insights were then validated by primary participants.
Based on additional insights from these primary participants, more directional efforts were put into doing secondary research and optimize data models. This process was repeated till all data models used in the study produced similar results (with minimum deviation). This way, this iterative process was able to generate the most accurate market numbers and qualitative insights.
Secondary research
The secondary research sources that are typically mentioned to include, but are not limited to:
The paid sources for secondary research like Factiva, OneSource, Hoovers, and Statista
Primary Research:
Primary research involves telephonic interviews, e-mail interactions, as well as face-to-face interviews for each market, category, segment, and subsegment across geographies
The contributors who typically take part in such a course include, but are not limited to:
Data Modeling and Analysis:
In the iterative process (mentioned above), data models received inputs from primary as well as secondary sources. But analysts working on these models were the key. They used their extensive knowledge and experience about industry and topic to make changes and fine-tuning these models as per the product/service under study.
The standard data models used while studying this market were the top-down and bottom-up approaches and the company shares analysis model. However, other methods were also used along with these – which were specific to the industry and product/service under study.
To know more about the research methodology used for this study, kindly contact us/click here.
