The global Green Ammonia Market is projected to reach USD 17.9 billion in 2030 from USD 0.3 billion in 2023 at a CAGR of 72.9% according to a new report by MarketsandMarkets™. The Green Ammonia Market has promising growth potential due to the rising deployment of fuel cell vehicles.
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Power generation to witness fastest growth rate in Green Ammonia Market
The Green Ammonia Market, by application, is divided into power generation, transportation and industrial feedstocks, wherein industrial feedstocks accounts for the largest share. Power generation is the fastest growing segment during the forecast period. The growth is attributed to the increasing number of deployments of alkaline water electrolysis for small scale power generation applications in Europe and Asia Pacific.
Alkaline water electrolysis expected to dominate Green Ammonia Market
The alkaline water electrolysis segment holds the largest share of the Green Ammonia Market. The large market share can be attributed to the increasing number of large scale projects for the green hydrogen production.
Europe expected to dominate Green Ammonia Market during forecast period
In this report, the Green Ammonia Market has been analyzed for four regions: Europe, Asia Pacific, North America and the rest of the World. Europe is a significant contributor to the Green Ammonia Market in the current scenario of electrolysis technology, owing to the rapidly increasing cost-competitiveness which enables consumers to have access to clean electricity.
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Key Market Players:
To enable an in-depth understanding of the competitive landscape, the report includes the profiles of a few of the top players in the Green Ammonia Market.
The Green Ammonia Market is dominated by a few major players that have a wide regional presence. The leading players in the Green Ammonia Market are Siemens Energy (Germany), NEL ASA (Norway), ThyssenKrupp AG (Germany), ITM Power (UK), YARA International (Norway), and BASF SE (Germany) and others.
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