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. IMARC Group expects the market to reach US$ 3994.6 Million by 2028, exhibiting a growth rate (CAGR) of 67.50% from 2023-2028.
Renewable energy-sourced ammonia, commonly known as green ammonia, is generated through the utilization of sustainable power sources such as wind, solar, and hydroelectric energy, in contrast to conventional ammonia production, which relies on fossil fuels. This eco-friendly variant of ammonia boasts a reduced carbon footprint and serves as a greener substitute for the traditional ammonia, primarily manufactured using natural gas and other non-renewable resources. Green ammonia offers the potential to function as a zero-emission fuel for transportation and as an environmentally friendly fertilizer for agiculture. Moreover, it is being actively investigated as a means of storing and transporting renewable energy, with the capability to be readily converted back into electricity through fuel cells or turbines. The adoption of green ammonia production and utilization is considered a pivotal measure in the global effort to curtail greenhouse gas emissions and address the challenge of climate change.
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Green Ammonia Market Growth and Development:
The surging worldwide need for environmentally friendly and sustainable energy solutions is a major catalyst propelling global market expansion. This surge is fostering greater production and utilization of green ammonia as a sustainable fuel source. Furthermore, increasing awareness and apprehensions regarding climate change are compelling governments and industries to embrace cleaner energy alternatives to curtail carbon emissions, thus bolstring market growth. Additionally, investments from prominent industry players in the advancement of novel and more efficient green ammonia production techniques and technologies are fostering a favorable outlook for the market.
Green Ammonia Market 2023-2028 Competitive Analysis and Segmentation:
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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
Thyssenrupp 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 East and Africa (United Arab Emirates, Saudi Arabia, Turkey, South Africa, Others)
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About Us:
IMARC Group is a leading market research company that offers managemen strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 100 corporations.
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The post Green Ammonia Market Outlook, Global Industry Overview, Analysis and Forecast 2023-202 appeared first on Super Market Research.
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