Global Green Ammonia Market was valued at US$ 11.5 Million in 2020 and is anticipated to reach US$ 215 Million by 2027 displaying an elevated CAGR of 53.5% over the forecast period (2021-2027).
Global Green Ammonia Market was valued at US$ 11.5 Million in 2020 and is anticipated to reach US$ 215 Million by 2027 displaying an elevated CAGR of 53.5% over the forecast period (2021-2027). A comprehensive overview of the global green ammonia market is recently added by UnivDatos Market Insights to its humongous database. The global green ammonia market report has been aggregated by collecting informative data of various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the global green ammonia market. The global green ammonia market report offers a detailed analysis of the latest industry developments and trending factors in the market that are influencing market growth. Furthermore, this statisical market research repository examines and estimates the global green ammonia market at the country levels.
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Market Overview
The global green ammonia market is expected to witness a boost on account of growing concerns over the degrading environment coupled with the rising incidences of deaths due to pollution caused primarily due to greenhouse gas emissions. For instance, according to the World Health Organization, every year nearly 7 million people die because of air pollution. Also, 91% of the population across the world live in places where air quality exceeds limits set by WHO which may cause major health hazards to the people of the world.
Furthermore, the market is also boosting on account of the favorable government initiative and increase in the number of green ammonia projects across the globe. For example, one of the most ambitious projects s in Saudi Arabia. the US company Air Products and Chemicals, the local firm ACWA Power, and NEOM, a developer building a carbon-free city in Saudi Arabia partnered on a $5 billion project which is anticipated to complete by 2025. The installation of the plant will sit on the Red Sea coast and will produce nearly 1.2 million t per yr of ammonia.
COVID-19 Impact
The recent covid-19 pandemic has disrupted the world and has brought a state of shock to the global economy. All industries have suffered some form of loss due to the pandemic and the green ammonia industry has not been left untouched by this unprecedented crisis of modern times. This industry has its share of challenges due to the COVID-19 pandemic in terms of revenues, installations, and projects. Most of the projects of green ammonia are in the pilot and demonstration phase that were affected during these times. The opening of many green ammonia projects may, however, be at risk due to the global economic downturn which ma prioritize other business areas. Furthermore, the green ammonia industry also saw a slowdown during the pandemic as the industries were shut and production was affected.
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The global green ammonia market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.
By Technology, the market is primarily segmented into
Alkaline Water Electrolysis
Proton Exchange Membrane
Solid Oxide Electrolysis
The solid oxide electrolysis segment generated revenue of US$ — billion in 2020 and is expected to grow at a CAGR of –% during the forecast period owing to the growing demand for hydrogen systems to reduce carbon emissions.
By End-User, the market is primarily segmented into
Transportation
Power Generation
Industrial Feedstock
Amongst End-User, the power generation segment of the global green amonia market was valued at US$ — billion in 2020 and is likely to reach US$ — billion by 2027 growing at a CAGR of –% from 2021-2027.
Global Green Ammonia Market Geographical Segmentation Includes:
North America
Europe
Asia-Pacific
Rest of the World
Based on the estimation, Europe dominated the green ammonia market with almost –% revenue share in 2020 owing to the increase in green hydrogen projects developing in several European countries such as Germany, Netherland, among others, and several government strategies to produce green hydrogen. For instance, The EU hydrogen strategy aims to create at least 6 GW of electrolyzer capacity by 2024, enough to produce up to 1 Mt/yr of green hydrogen.
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The major players targeting the market includes
Siemens
Thyssenkrupp
Nel Hydrogen
Green Hydrogen Systems
MAN Energy Solutions
Uniper
Enapter
ENGIE
Hiringa Energ
BASF
Competitive Landscape
The degree of competition among prominent global companies has been elaborated by analyzing several leading key players operating worldwide. The specialist team of research analysts sheds light on various traits such as global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the global green ammonia market. The leading players have been analyzed by using research methodologies for getting insight views on global competition.
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Key questions resolved through this analytical market research report include:
What are the latest trends, new patterns, and technological advancements in the global green ammonia market?
Which factors are influencing the global green ammonia market over the forecast period?
Wat are the global challenges, threats, and risks in the green ammonia market?
Which factors are propelling and restraining the global green ammonia market?
What are the demanding global regions of the green ammonia market?
What will be the market size in the upcoming years?
What are the crucial market acquisition strategies and policies applied by global companies?
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