Green Ammonia Market Analysis Current Landscape and Future Outlook 2024

According to Precision Business Insights (PBI), the latest report, the market value of the green ammonia market size was valued at USD 382.3 million in 2023 and is projected to grow at an 29.2% CAGR during the forecast period 2024 to 2030. The main factors that drive the market are the growing awareness about renewable energy resources, decrease in natural gas availability peoples are shifting towards green energy with zero carbon emission products.

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THE GREEN AMMONIA MARKET DETAILED SEGMENTATION:
Based on the technology, the market is segmented into the following:
• Alkaline Water Electrolysis (AWE)
• Proton Exchange Membrane (PEM)
• Electrolysis
• Solid Oxide Electrolysis

Based on the end user, the market is segmented into the following:
• Transportation
• Industrial Feedstock
• Power Generation

Alkaline Water Electrolysis (AWE) to Dominate the Green Ammonia Market
Based on technology, alkaline water electrolysis (AWE) holds the highest market share. The major factor for the rise of this segment is that it is used to split water into gases hydrogen and oxygen using electrical energy, it is a cheaper catalyst with respect to platinum metal group-based catalysts used from PPM water electrolysis. According to Global Sustainable and Energy Association, green energy will overtake renewable energy resources in the future, also increased need for eco-friendly fertilizers and pesticides drive the market growth in the upcoming years, the excess use of pesticides the condition of soil is gets deteriorated, as a results new soil technologies are developed to prevent from soil population and green ammonia is the real solution consequences high demand for fertilizers in the market.

Based on the region, the market is segmented into the following:
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

Asia Pacific region is expected to grow significantly in the global green ammonia market over the forecast period owing to the increasing promotional activities for green ammonia energy resources as a fuel and agricultural applications and rapidly growing infrastructure will accelerate the market growth in the region.

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Strategic New Product Launches, Mergers, Acquisitions, and Agreements are the key strategies adopted by market players.
The green ammonia market further reveals that the key players are implementing strategies such as the extension of product research and development activities, product launches, acquisitions, mergers, and strategic alliances to improve their market position and strengthen the market revenue share.

Key players in the green ammonia market report are BASF SE, CF Industries Holdings, In, Dyno Nobel, Electrochaea, Enaex Energy, Enapter, Eneus Energy Limited, ENGIE, Siemens Energy, Starfire Energy, ThyssenKrupp AG, and Uniper

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This release was published on openPR.