The global green ammonia market is projected to grow at a CAGR of 54.9%

NEW YORK, July 22, 2020 /PRNewswire/ --

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The global green ammonia market is projected to reach USD 852 million by 2030 from an estimated USD 11 million in 2020, at a CAGR of 54.9% during the forecast period. Rising obligations to reduce green house gas emissions from traditional ammonia methods has driven the global green ammonia market growth. Furthermore, increased agriculture production and subsequent rise in fertilizer consumption is driving the green ammonia market. However, higher initial capital rquirements for green ammonia plant infrastructures is likely to hamper the growth of green ammonia market.

The power generation segment, by end user, is expected to be the largest and the fastest growing market from 2020 to 2030
The end user segment is categorized as transportation, power generation, and industrial feedstock.The power generation segment is expected to grow at the highest CAGR during the forecast period, as electricity generated by using green ammonia is observed to be the cleaner version of gas.

By using the electrolysis process, surplus renewable energy generated at isolated locations can be used to produce carbon-free ammonia, which can act as a sustainable fuel for power generation.Furthermore, the need for long term storage of renewable energy generated at isolated wind farms and solar panels drives the growth of green ammonia market.

Europe is expected to hold the largest power generation market. This growth is owing to the favourable government initiatives and plans to produce green ammonia in Netherlands.

The Solid Oxide Electrolysis segment, by technology, is expected to be the fastest growing market from 2020 to 2030
The SOE segment is expected to be the fastest growing technology subsegment during the forecast period, owing to the increasing demand for fuel cells.The SOE process is used to produce green hydrogen from surplus electricity generated from renewable sources.

Such green hydrogen can be synthesise further in ammonia synthesis plant to produce green ammonia by using SOE technology.Moreover, the green hydrogen produced by the process can be stored and used as a fuel cell, and reconverted into electricity again when the demand arises.

This allows the storage of electricity when production exceeds demand.This is driving the growth of the SOE segment in the global green ammonia market.

Europe is projected to hold the largest SOE market by 2030, owing to the rising deand for fuel cells in Germany.

Europe: The largest and the fastest growing region in the green ammonia market.
Europe is expected to dominate the global green ammonia market between 2020 and 2030.The increasing number of fuel cell projects and European government initiatives for the deployment of fuel cells in the residential and commercial sectors are likely to provide growth opportunities for the growth of the green ammonia market in the region.

Fuel cells are an efficient and clean energy alternative, which has the potential to address the energy challenges of the region. The Fuel Cells and Hydrogen Joint Undertaking is the primary body that supports R&D for fuel cell and hydrogen technologies in Europe.

Breakdown of Primaries:
In-depth interviews have been conducted with various key industry participants, subject-matter experts, C-level executives of key market players, and industry consultants, among other experts, to obtain and verify critical qualitative and quantitative information, as well as to assess future market prospects. The distribution of primary interviews is as follows:
• By Company Type: Techology Providers- 60%, Ammonia Producers- 25%, and Ammonia Plant EPC companies- 15%
• By Designation: C-Level- 30%, Director Level- 25%, and Others- 45%
• By Region: Asia Pacific- 30%, Europe- 25%, North America- 25%, and Rest of the World- 20%

Note: Others includes sales managers, marketing managers, product managers, and product engineers.
The green ammonia market is dominated by a few major players that have a wide regional presence. The leading players in the gren ammonia market are Siemens (Germany), MAN Energy Solutions (Germany), ITM Power (UK), Nel Hydrogen Solutions (Norway), Yara International (Norway) and Haldor Topsoe (Denmark).

Study Coverage:
The report defines, describes, and forecasts the green ammonia market, by technology, end user and region.It also offers a detailed qualitative and quantitative analysis of the market.

The report provides a comprehensive review of the major market drivers, restraints, opportunities, and challenges. It also covers various important aspects of the market, which include the analysis of the competitive landscape, market dynamics, market estimates in terms of value, and future trends in the green ammonia market.

Key Benefits of Buying the Report
1. The report identifies and addresses the key markets for green ammonia operations and services, which would help equipment manufacturers and service providers review the growth in demand.
2. The report helps system providers understand the pulse of the market and provides insights into drivers, restraints, opportunities, and challenges.
3. The report will help key players understand the strategies of their competitors better and help them in making better strategic decisions

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