The Global Green Ammonia Components Market size is valued at around USD 392 million in 2024 and is projected to grow at a CAGR of around 54% during the forecast period, i.e., 2025-30. According to MarkNtel Advisors Study.
Global Green Ammonia Components Market Driver:
Mounting Need to Utilize Cleaner Solutions across Industries – Driven by the escalating demand for long-term storage of renewable energy, the Global Green Ammonia Market is anticipated to exemplify an upward trajectory based upon the immense potential in preventing further withering of climate and environment from renewable energy generation seems, overpowering fossil-based power generation. It, in turn, is augmenting the demand for green hydrogen & directly influencing the requirement for green ammonia.
Moreover, increased consumer awareness & a growing affinity for sustainable products shall also bolster the market growth in the future, backed by the mounting necessity to choose greener solutions like green ammonia. Additionally, strict regulations for carbon footprints & large influx of funds for green ammonia production plants shall further accelerate the market growth pace in the future.
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Key Market Reports Highlights
- Market Dimensions & Projections
- Pricing Evaluation
- Recent Strategic Moves by Companies
- Primary Stakeholders
- Import/Export Trend Analysis
- Competitive Landscape Assessment
- Emerging Opportunities
- Market Trends and Indicators
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Global Green Ammonia Components Market Segmentation:
The market report categorizes the market based on different segments and geographical analysis.
Study Timeline:
-Base Year: 2024
-Historical Period: 2020 to 2023
-Forecast Period: 2025 to 2030
- By Type
- Wind
- Solar
- Biofuels
- By Region
- North America
- South America
- Europe
- Middle East & Africa
- Asia Pacific
Competitive Landscape
With strategic initiatives, such as mergers, collaborations, and acquisitions, the leading market companies, including – Siemens AG, ThyssenKrupp AG, Nel ASA, GreenHydrogen ApS, Enapter S.r.l., Starfire Energy Inc., Engie SA, Yara International, Wesfarmers Chemicals, Energy & Fertilisers Ltd, Haldor Topsoe A/S, ITM Power, Others are looking forward to strengthening their market positions.
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Global Green Ammonia Components Industry Recent Development:
In 2023, Hy2gen unveiled its plans to produce green ammonia as a fuel for the marine industry. The company is an international firm that specializes in planning, constructing, and running facilities to produce green hydrogen and its derivatives.
In 2021, HEGRA, abbreviated for HErøya GReen Ammonia, was set up in Norway, intending to decarbonize and electrify the ammonia plant at Herøya, thereby facilitating the large-scale production of green ammonia. The co-owners, including Yara, Aker Clean Hydrogen, and Statkraft, claimed it to be Norway’s largest climate initiative.
In 2021, Helios, a UAE-based manufacturer, signed a partnership deal with ThyssenKrupp AG to facilitate the production of green ammonia, along with green hydrogen, via advanced technology offered by the latter.
ThyssenKrupp Uhde USA, Bloom Energy, and LSB Industries came together on a single platform to produce approximately 30,000 tonnes of green ammonia a year at LSB’s Pryor, Oklahoma facility.
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