IMARC Group, a leading market research company, has recently releases report titled “Green Ammonia Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, The global green ammonia market size reached US$ 154.2 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 3994.6 Million by 2028, exhibiting a growth rate (CAGR) of 67.50% during 2023-2028.
Green ammonia is a form of ammonia that is produced using renewable energy sources, such as wind, solar, and hydroelectric power instead of fossil fuels. It is considered an environmentally friendly alternative to conventional ammonia, which is produced using natural gas and other non-renewable energy sources. Green ammonia has a lower carbon footprint and can be used as a zero-emission fuel for transportation or as a green fertilizer in agriculture. It is also being explored as a way to store and transport renewable energy, as it can be easily converted back into electricity through afuel cell or turbine. The production and use of green ammonia is seen as a key step toward reducing greenhouse gas (GHG) emissions and combating climate change.
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Green Ammonia Market Growth and Development:
The increasing global demand for clean and renewable energy sources represents a significant factor driving the market growth across the globe. This is resulting in an increase in the production and use of green ammonia as a sustainable fuel. In addition to this, the rising awareness and concerns about climate change are prompting governments and industries to adopt cleaner energy sources to reduce carbon emissions, which is further contributing to the growth of the market. Apart from this, the development of new and more efficient green ammonia production methods and technologies is attracting investments from key players, which is creating a positive outlook for the market.
Green Ammonia Maret 2023-2028 Competitive Analysis and Segmentation:
Competitive Landscape with Key Players:
The competitive landscape of the green ammonia market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these key players include:
ACME Group
AMMPower Corp
CF Industries Holdings Inc.
FuelPositive Corporation
ITM Power plc
Siemens AG
Starfire Energy
ThyssenKrupp AG
Topsoe
Key Market Segmentation:
The report has segmented the green ammonia market on the basis of technology, end-user and region.
Breakup by Technology:
Proton Exchange Membrane
Alkaline Water Electrolysis
Solid Oxide Electrolysis
Breakup by End User:
Power Generation
Transportation
Fertilizer
Refrigeration
Others
Breakup by Region:
North America (United States, Canada)
Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
Latin America (Brazil, Mexico, Others)
Middle Eas and Africa (United Arab Emirates, Saudi Arabia, Turkey, South Africa, Others)
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