NCR Online Journal

Green Ammonia Market worth $852 Million by 2030

 Breaking News
  • No posts were found

Green Ammonia Market worth $852 Million by 2030

July 10
22:51 2020
Green Ammonia Market worth $852 Million by 2030
The global green ammonia market is projected to reach USD 852 million by 2030 from an estimated USD 11 million in 2020, at a CAGR of 54.9% during the forecast period.

According to the new market research report Green Ammonia Market by Technology (Alkaline Water Electrolysis (AWE), Proton Exchange Membrane (PEM), and Solid Oxide Electrolysis (SOE)), End User (Transportation, Power Generation, and Industrial Feedstock), and Region – Global Forecast to 2030″,published by MarketsandMarkets™, the Green Ammonia Market size will grow to  USD 852 million by 2030 (forecasted year) from USD 11 million in 2020 (estimated year), at a CAGR of 54.9% during the forecast period. The rising investments in green fuel and large scale green energy plans in Europe and North America, drives the Green Ammonia Market in the region. Moreover, increasing adoption of electric vehicles leads to renewable energy deployment at large scale in Asia Pacific region, creates opportunities for Green Ammonia Market.

 

Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=118396942

 

The Solid Oxide Electrolysis (SOE) segment is expected to dominate the Green Ammonia Market.

SOE technology is an upcoming technology for green hydrogen systems. The SOE process is used to produce green hydrogen from surplus electricity generated from renewable sources. This green hydrogen is further synthesis in ammonia synthesis unit to produce green ammonia. Furthermore, the green hydrogen produced by the process can be stored and used as a fuel cell, and reconverted into electricity again when the demand arises. This allows the storage of electricity when production exceeds demand. Moreover, increasing demand for fuel cells boost the demand for solid oxide electrolyzers. Thereby acting as a driving force for the Green Ammonia Market during the forecast period.

 

Browse in-depth TOC on “Green Ammonia Market”

123 – Tables

42– Figures  

159 – Pages

 

View Detailed Table of Content Here:

https://www.marketsandmarkets.com/Market-Reports/green-ammonia-market-118396942.html

 

The power generation segment is expected to be the fastest growing Green Ammonia Market.

The power generation segment, by end user, Green Ammonia Market is estimated to grow at the fastest rate during the forecast period. This is mainly because of the increasing share of renewables in the power generation mix and decreasing cost of equipment and technology associated with renewables. According to the International Renewable Energy Agency (IRENA), solar and wind are the most potential renewable energy sources and are likely to dominate the renewable power sector in the coming years. Wind power and solar PV have increased their share in the European and North American regions. Therefore, with green ammonia production, renewable energy can be stored and reused for power generation at consumption points. This will make renewable energy generation more efficient and usable for the long-term. Thereby, creating growth opportunities for Green Ammonia Market.

 

Europe likely to emerge as the largest Green Ammonia Market

In this report, the Green Ammonia Market has been analyzed for four regions, namely, Europe, Asia Pacific, North America, and Rest of the World (RoW). RoW includes China, Russia, India, France, and Austria. The government of the Netherlands considers green hydrogen to be essential for achieving its energy transition goals and maintaining energy-intensive industries to improve the business climate for green hydrogen in the country. As per the Climate Agreement, the Netherlands will launch a national hydrogen program, which will primarily focus on unlocking the supply of green hydrogen, developing the necessary green hydrogen infrastructure, and reducing production costs of green hydrogen projects. Also, the program aims to achieve 3GW to 4GW of installed electrolyzer capacity by 2030, with additional growth of renewable electricity. Such initiatives and developments are expected to bolster the growth of the Green Ammonia Market in Europe during the forecast period.

 

Inquiry Before Buying: https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=118396942

 

To enable an in-depth understanding of the study, the report includes the profiles of some of the top players in the global Green Ammonia Market.

Some of the key players are Siemens (Germany), MAN Energy Solutions (Germany), ITM Power (UK), Nel Hydrogen Solutions (Norway), Yara International (Norway) and HaldorTopsoe (Denmark). The leading players are adopting various strategies to increase their share in the Green Ammonia Market.

 

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

 

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the “Growth Engagement Model – GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

 

MarketsandMarkets’s flagship competitive intelligence and market research platform, “Knowledgestore” connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

 

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
Email: [email protected]
Content Source: https://www.marketsandmarkets.com/PressReleases/green-ammonia.asp

Media Contact
Company Name: MarketsandMarkets
Contact Person: Mr. Aashish Mehra
Email: Send Email
Phone: 18886006441
Address:630 Dundee Road Suite 430
City: Northbrook
State: IL 60062
Country: United States
Website: https://www.marketsandmarkets.com/Market-Reports/green-ammonia-market-118396942.html

Related Articles