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 statistical market research repository examines and estimates the global green ammonia market at the country levels. The global green ammonia market is expected to grow at a CAGR of XX% from 2021-2027 to exceed US$ XX billion by 2027.
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 is 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 $5 billion project which is anticipated to complete by 2025. The installation of the plant will sit on the Red Sea coast and will produce nearly 1.2 million t per yr of ammonia.
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The recent covid-19 pandemic has disrupted the world and has brought a state of shock to the global economy. All industries have suffered some form of loss due to the pandemic and the green ammonia industry has not been left untouched by this unprecedented crisis of modern times. This industry has its share of challenges due to the COVID-19 pandemic in terms of revenues, installations, and projects. Most of the projects of green ammonia are in the pilot and demonstration phase that were affected during these times. The opening of many green ammonia projects may, however, be at risk due to the global economic downturn which may prioritize other business areas. Furthermore, the green ammonia industry also saw a slowdown during the pandemic as the industries were shut and production was affected.
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The global green ammonia market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.
By Technology, the market is primarily segmented into
- Alkaline Water Electrolysis
- Proton Exchange Membrane
- Solid Oxide Electrolysis
The solid oxide electrolysis segment generated revenue of US$ XX billion in 2020 and is expected to grow at a CAGR of XX% 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
- Power Generation
- Industrial Feedstock
Amongst End-User, the power generation segment of the global green ammonia market was valued at US$ XX billion in 2020 and is likely to reach US$ XX billion by 2027 growing at a CAGR of XX% from 2021-2027.
Global Green Ammonia Market Geographical Segmentation Includes:
- North America
- Rest of the World
Based on the estimation, Europe dominated the green ammonia market with almost XX% 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
- Nel Hydrogen
- Green Hydrogen Systems
- MAN Energy Solutions
- Hiringa Energy
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.
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?
- What 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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About UnivDatos Market Insights
UnivDatos Market Insights (UMI) is a passionate market research firm and a subsidiary of Universal Data Solutions. We believe in delivering insights through Market Intelligence Reports, Customized Business Research, and Primary Research. Our research studies are spread across topics across the world, we cover markets in over 100 countries using smart research techniques and agile methodologies. We offer in-depth studies, detailed analysis, and customized reports that help shape winning business strategies for our clients.