The report titled “Green Ammonia Market” sheds a concentrated focus on the Green Ammonia industry in terms of market driver, opportunities, restraints of global segmentation. Further data on the reports also includes demographic conditions, over-turning changing business cycles and analyzing country-to-market.
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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.
Top Companies Profiled in the Green Ammonia Market:
- Siemens (Germany)
- MAN Energy Solutions (Germany)
- ITM Power (UK)
- Nel Hydrogen Solutions (Norway)
- Yara International (Norway)
- Haldor Topsoe (Denmark)
“The power generation segment, by end user, is expected to be the largest and the fastest growing market from 2020 to 2030”
The end user segment is categorized as transportation, power generation, and industrial feedstock.The power generation segment is expected to grow at the highest CAGR during the forecast period, as electricity generated by using green ammonia is observed to be the cleaner version of gas. By using the electrolysis process, surplus renewable energy generated at isolated locations can be used to produce carbon-free ammonia, which can act as a sustainable fuel for power generation.
“The Solid Oxide Electrolysis segment, by technology, is expected to be the fastest growing market from 2020 to 2030”
The SOE segment is expected to be the fastest growing technology sub segment during the forecast period, owing to the increasing demand for fuel cells. The SOE process is used to produce green hydrogen from surplus electricity generated from renewable sources. Such green hydrogen can be synthesise further in ammonia synthesis plant to produce green ammonia by using SOE technology.
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