The global Green Ammonia Market is projected to experience remarkable growth, expanding from USD 0.3 billion in 2024 to USD 6.2 billion by 2030, with a compound annual growth rate (CAGR) of 66.0%, according to a report by MarketsandMarkets™. This growth is driven by the rising demand for sustainable and low-carbon solutions in various industries, particularly the chemical, fertilizer, and industrial sectors, which are under pressure to reduce their carbon footprints. Green ammonia is produced using renewable energy sources like wind and solar power, making it a key component in the shift towards a more sustainable energy system. By converting excess renewable energy into a storable and transportable form, green ammonia helps mitigate issues of energy intermittency and enhances system stability. Technological advancements in electrolysis, especially in Proton Exchange Membrane (PEM) and alkaline water electrolysis, have significantly improved the efficiency and reduced the costs of producing green hydrogen, a crucial precursor to green ammonia. This has fueled the growth of the market. The power generation segment is considered the fastest growing segment in the green ammonia market. Integrating green ammonia production with renewable energy sources supports the widespread use of renewable energy and helps transition to a sustainable electric future.
In addition, government regulations, subsidies and incentives play an important role in encouraging the production and use of green ammonia, and increasing the market. Countries with many new energy resources are investing in green ammonia production, not only for domestic use but also for export, creating economic opportunities and helping the global energy transition.