Green Ammonia Market Size, Share & Industry Analysis, By Technology (Alkaline Water Electrolysis (AWE), Proton Exchange Membrane (PEM), Solid Oxide Electrolysis (SOE)), By End-user (Power generation , Transportation, Industrial Feedstock) And Regional Forecast, 2024-2032

Green ammonia is produced through the electrochemical Haber-Bosch process using renewable energy and assists to reduce greenhouse emissions which is essential to achieve zero-emission targets. The challenges faced by fossil fuel power generation like revenues, installations, capital expenditure, and high carbon emissions, power generation sector is a huge potential market in terms of usage of green ammonia to generate energy.

Based on the technology, the market is classified as alkaline water electrolysis (AWE), proton exchange membrane (PEM), and solid oxide electrolysis (SOE). The solid oxide electrolysis (SOE) segment accounted for the major share of the market and it is anticipated that it will maintain its attractiveness during the forecast period, which can be attributed to the rise in demand for fuel cells. Fuel cells also enable the storage of electricity in times of surplus supply.

Based on the end-user, the global market is classified into power generation, transportation, and industrial feedstock. The power generation segment accounted for the major share in the market. Power generation using green ammonia is a cleaner alternative to using coal as it reduces carbon emissions and is a step towards sustainable development.

Several governments and organizations across the globe are issuing regulatory mandates and legislative directives regarding the carbon emissions of industries. The fertilizer industry is a major end-user of ammonia, along with the chemical industry, refrigeration industry, and so on. The huge demand for ammonia has made it imperative to develop cleaner alternatives to ammonia, to reduce carbon emissions. This obligation of sustainable development is the key market driver of the green ammonia market.

The key market restraint for the market is the high cost of installing infrastructure for the production of green ammonia. Also, the cost of electrolyzers increases the cost of operations, which affects the growth of the market.

Key Players Covered:

Some of the major companies in the global green ammonia market are BASF, Siemens, Yara International, Green Hydrogen Systems, ITM Power, EXYTRON GmbH, MAN Energy Solutions, Haldor Topsoe A/S, Aquahydrex, Inc, Starfire Energy, Electrochaea, and ThyssenKrupp.

Regional Analysis:

The global green ammonia market is studied across different regions like North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Europe accounted for the major share of the global market, as most of the green hydrogen projects are functional in Germany and Netherlands. The European market is also increasing due to the favorable government initiatives and policies that urge the need of production of green hydrogen for achieving its energy transition goals and maintaining energy-intensive industries to improve the business climate, which has propelled the demand for green ammonia. The Netherlands is the fastest-growing country for the global green ammonia market, owing to the launch of the national hydrogen program as per the Climate Agreement, which aims to achieve 4GW of installed electrolyzer capacity by 2030.

Segmentation

Key Industry Developments

• In April 2020, ITM Energy received a project by the UK Government to provide green hydrogen solutions to produce renewable hydrogen by using 100 MW electrolyzers.


• In December 2019, Nel Fuel AS, got into a joint venture with H2 Energy AS, Greenstat AS and Akershus Energi Infrastruktur AS, as equal shareholders, to provide green hydrogen to Norway.