Green Ammonia Market Size Worth $6.5 Billion by 2031 | CAGR: 80.1%: AMR

Rise in public concern and government regulations related to carbon emissions and the protection of environmental health drive the growth of the global green ammonia market. Region-wise, the market in Europe is likely to dominate in terms of revenue and Asia-Pacific is expected to achieve the fastest CAGR during the forecast period. By technology, the alkaline water electrolysis segment would dominate the market in terms of revenue through 2031.

/EIN News/ -- Portland, OR, March 23, 2023 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global green ammonia market generated $0.02 billion in 2021, and is estimated to reach $6.5 billion by 2031, witnessing a CAGR of 80.1% from 2022 to 2031. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chains, regional landscape, and competitive scenario. The report is a helpful source of information for leading market players, new entrants, investors, and stakeholders in devising strategies for the future and taking steps to strengthen their position in the market. 

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Report Coverage & Details: 

Report Coverage	Details
Forecast Period	2022–2031
Base Year	2021
Market Size in 2021	$0.02 Billion
Market Size in 2031	$6.5 Billion
CAGR	80.1%
No. of Pages in Report	343
Segments Covered	Technology, Application, and Region
Drivers	Rise in public concern and government regulations related to carbon emissions and the protection of environmental health
Opportunities	The rise in demand for green ammonia as a maritime fuel
Restraints	High initial capital requirements for green ammonia plant infrastructure

Covid-19 Scenario: 

• The outbreak of the COVID-19 pandemic negatively impacted the growth of the green ammonia market. The imposition of strict restrictions and lockdowns imposed by governments across the world had a major impact on the downstream industries. Global supply chains were severely affected. 
• Nonetheless, with the reopening of the market, the demand for green ammonia increased gradually from the shipping industry. 
• In addition, green hydrogen production initiatives are expected to increase the demand for green ammonia in the Middle East, Africa and Europe regions, further boosting the market in future. 

The report offers a detailed segmentation of the global green ammonia market based on technology, application, and region. The report provides an analysis of each segment and sub-segment with the help of tables and figures. This analysis helps market players, investors, and new entrants in determining the sub-segments to be tapped on to achieve growth in the coming years. 

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Based on technology, the alkaline water electrolysis segment held the largest share in 2021, accounting for more than three-fifths of the global green ammonia market and would dominate the market in terms of revenue through 2031. However, the solid oxide electrolysis segment is estimated to witness the fastest CAGR of 81.3% during the forecast period. The report also offers an analysis of the proton exchange membrane segment. 

Based on the application, 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. However, the others segment is expected to exhibit the highest CAGR of 81.2% in 2031. The report also studies the transportation and industrial feedstock segments. 

Based on region, the market in Asia-Pacific is likely to show the fastest CAGR of 81.1% during the forecast period. However, Europe was the largest market in 2021, accounting for nearly two-fifths of the global green ammonia market and is likely to maintain its dominance during the forecasted timeframe. The other regions studied in the report include North America and LAMEA. 

Leading players of the global green ammonia market analyzed in the research include Siemens AG, NEL ASA, ThyssenKrupp, ITM Power, CF Industries Holdings, Inc., Ballard Power Systems, AMMPower Corp, FuelPositive Corporation, Haldor Topsoe, Uniper, Hyport Duqm, Enapter, Starfire Energy, Engie, BASF SE, Yara International, Hiringa Energy, and Queensland Nitrates Pty. Ltd. 

The report analyzes these key players of the global green ammonia market. These players have adopted various strategies such as expansion, new product launches, partnerships, and others to increase their market penetration and strengthen their position in the industry. The report is helpful in determining the business performance, operating segments, product portfolio, and developments by every market player. 

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain. 

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry. 

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