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DUBLIN--(BUSINESS WIRE)--Nov 7, 2022--
The "Green Ammonia Market By Technology, By Application: Global Opportunity Analysis and Industry Forecast, 2021-2031" report has been added to ResearchAndMarkets.com's offering.
The green ammonia market was valued at $0.02 billion in 2021, and is projected to reach $6.5 billion by 2031, growing at a CAGR of 80.1% from 2022 to 2031.
Green ammonia is produced by the electrochemical Haber-Bosch process using renewable energy to help reduce greenhouse gas emissions, which are essential to achieving zero emissions targets. Challenges facing fossil fuel power generation such as revenue, installation, investment and high carbon emissions, the power generation sector is a huge potential market in terms of using green ammonia for power generation. Market growth is driven by rapid expansion of end-use industries such as fertilizer, transportation, and power generation, implementation of stringent environmental regulations, and growing popularity of green fertilizers.
Moreover, the market is expected to witness higher growth prospects owing to increasing technological advancements, increasing public and private investment, and rapid decline in renewable energy generation costs. Moreover, expanding the scope of green ammonia to various industrial applications will increase the sales of green ammonia in the next decade.
Due to its zero carbon emissions and zero sulfur content, green ammonia is gaining increasing attention as a fuel for ships and vessels in the transportation sector, which is expected to drive the growth of the green ammonia market. However, despite the positive outlook, there are certain factors that are likely to challenge market growth. These factors include high initial investment for green ammonia production plants and low awareness of green ammonia and its production technology.
The green ammonia market is segmented on the basis of technology, application, and region. Depending on technology, the market is categorized into proton exchange membrane, alkaline water electrolysis, solid oxide electrolysis and others. On the basis of region, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.
KEY BENEFITS FOR STAKEHOLDERS
Key Market Segments
By Technology
By Application
By Region
Key Market Players
Key Topics Covered:
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: GREEN AMMONIA MARKET, BY TECHNOLOGY
CHAPTER 5: GREEN AMMONIA MARKET, BY APPLICATION
CHAPTER 6: GREEN AMMONIA MARKET, BY REGION
CHAPTER 7: COMPANY LANDSCAPE
CHAPTER 8: COMPANY PROFILES
Companies Mentioned
For more information about this report visit https://www.researchandmarkets.com/r/cl848n
View source version on businesswire.com:https://www.businesswire.com/news/home/20221107005919/en/
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KEYWORD:
INDUSTRY KEYWORD: CHEMICALS/PLASTICS ENVIRONMENT MANUFACTURING SUSTAINABILITY AGRICULTURE NATURAL RESOURCES GREEN TECHNOLOGY
SOURCE: Research and Markets
Copyright Business Wire 2022.
PUB: 11/07/2022 12:29 PM/DISC: 11/07/2022 12:29 PM
http://www.businesswire.com/news/home/20221107005919/en