The global green ammonia market accounted for 13.5 million in 2019. It is estimated to grow at a CAGR of 46.8% during the forecast period.
COVID-19 has impacted green ammonia market. The fossil power generation has faced a lot of challenges for revenue generation, projects and installation. Even some of the renewable energy generation projects are on hold due to this pandemic situation. The renewable energy projects have direct effects on green ammonia market. All the green ammonia projects are in its demonstration or pilot phase and it is expected to start in coming 2-3 years and considering current scenario green ammonia market is expected to face decline in initial phase of forecast period. However, it will gain momentum after by latter phase of forecast period.
For more details, visit: Global Green Ammonia Market By Fiber Technology (Solid Oxide Electrolysis , Proton Exchange Membrane , Alkaline Water Electrolysis), By End-User (Transportation, Power Generation, Others), By Region–Forecast & Opportunities to 2026
Ammonia is considered as second most produced chemical in the world. It acts as a building block for various endues industries such as plastics, fertilizers, explosives, fabrics, dyes and pesticides. The conventional process of ammonia production consumes fossil fuel such as coal or natural gas so the produced ammonia is responsible for less than 1% of the global greenhouse gas emission. The governments across the world are introducing initiatives to reduce green house emission. Thus, promotes green ammonia market. This is primary driving factor for green ammonia.
On the basis of technology, the green ammonia market is segmented into solid oxide electrolysis (SOE), proton exchange membrane (PEM) and alkaline water electrolysis (AWE). The SOE segment is estimated to witness growth at highest CAGR during the forecast period. The demand for hydrogen systems is increasing as it cuts the carbon emissions. SEO is a process which produces green hydrogen from surplus electricity which is generated from renewable energy. Such green hydrogen can be further produced into ammonia synthesis plant in order to produced
On the basis of end-user the, green ammonia market is segmented into transportation, power generation and iduatrial feedstock. The power generation segment is estimated to register growth at highest CAGR during the forecast period. The green ammonia used in electricity generation is observed to be the cleaner version of gas. The carbon free ammonia is produced using surplus renewable energy generated by using electrolysis process. This is likely to drive growth in this segment.
Europe is projected to account for largest market share during the forecast period. The hydrogen projects are increasing in European countries such as Netherlands and Germany. The government in this region is promoting green hydrogen. There are many initiatives and polices adopted by government to promote green ammonia in the region. All these factors are responsible for driving growth in green ammonia market in Europe region.
The key market players in green ammonia industry are Nel Hydrogen, MAN Energy Solutions, Siemens, Green Hydrogen Systems, McPhy Energy, Electrochaea, ITM Power, BASF, Queensland Nitrate, Haldor Topsoe, Hiringa Energy, Yara International, Thyssenkrupp, McPhy Energy and Electrochaea.
- What are the expected industry trends over the next three to five years?
- Which of the green ammonia fiber technology is likely to lead by 2025?
- Which of the end-user segments is expected to have the maximum potential to during the forecast period?
- Which region is going to have the highest smart meters market share by 2025?
- What are different organic and inorganic strategies implemented by companies to gain increased market share?