Global Green Ammonia Market to Reach $17.9 Billion by 2030: Enforcement of Regulatory Policies and Provision of Incentives to Reduce GHG Emissions Drives Growth: Research and Markets
DUBLIN, March 21, 2023 /PRNewswire/ -- The "Global Green Ammonia Market by Technology (Alkaline Water Electrolysis (AWE), Proton Exchange Membrane (PEM) Electrolysis, Solid Oxide Electrolysis), End-Use Application (Transportation, Power Generation, Industrial Feedstock) & Region - Forecast to 2030" report has been added to ResearchAndMarkets.com's offering.
The green ammonia market is estimated to grow from USD 0.3 billion in 2023 to USD 17.9 billion by 2030, at a CAGR of 72.9% during the forecast period.
The primary drivers of the market include the rising demand for combined heat and power plants for small-scale applications.
Solid oxide electrolysis technology segment to be fastest-growing market from 2023 to 2030
The green ammonia market, by technology, is alkaline water electrolysis, proton exchange membrane electrolysis, and solid oxide electrolysis.
The proton exchange membrane electrolysis is expected to be the second-largest segment as proton exchange membrane electrolysis has high efficiency in producing green hydrogen.
Industrial Feedstocks, by application, expected to be largest market from 2023 to 2030
The green ammonia market, by application, is bifurcated into power generation, transportationand industrial feedstocks. The industrial feedstocks segment is expected to be the largest market, followed by power generation during the forecast period.
This dominance is because of the need for green fertilizers in agricultural industries.
Case Study Analysis
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SOURCE Research and Markets