Market overview:

Green Ammonia Market has been valued US$ 12 million in the year 2021 and it is estimated to reach US$ 873 million by the year 2027, with a CAGR of 54.10% from 2022 to 2027. Green Ammonia is a pungent gas that is widely used to make agricultural fertilisers. Green ammonia production is where the process of making ammonia is 100% renewable and carbon-free. One way of making green ammonia is by using hydrogen from water electrolysis and nitrogen separated from the air; these are the main factors that have considerably increased the demand for the Green Ammonia in the market, thereby driving the huge growth of the Green Ammonia market in the upcoming years

Market Drivers and Restrains:

The main factors that have considerably increased the demand for the Green Ammonia in the market is mainly due to the Renewable energy generation continues to outpace fossil fuel power generation in the overall capacity addition. According to the International Renewable Energy Agency (IRENA), solar and wind are high potential renewable energy sources and are likely to dominate the renewable power sector in the coming years. At the end of 2020, global renewable generation capacity amounted to 2799 GW. Hydropower accounted for the largest share of the global total, with a capacity of 1211 GW. Wind and solar energy accounted for equal shares of the remainder, with capacities of 733 GW and 714 GW, respectively. Other renewables included 127 GW of bioenergy, 14 GW of geothermal, and 500 MW of marine energy; these are the main factors that have considerably increased the demand for the Green Ammonia in the market, thereby driving the huge growth of the Green Ammonia market in the upcoming years

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Report is segmented as:

Green Ammonia Market is segmented on the basis of by:

By Technology (Proton exchange membrane (PEM), alkaline water electrolysis (AWE) and Solid oxide electrolysis (SOE)),

By End-User (Power Generation, Transportation, and Industrial feedstock)

Geographical Segmentation:

Green Ammonia Market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa and rest of world. North America has the dominant share in the Green Ammonia is due to the producing ammonia from water and nitrogen include electrochemical synthesis these are the main factors that have considerably increased the demand for the Green Ammonia in the North America, followed by Europe, Asia Pacific, Latin America and Middle East & Africa will register a slower increase in the Green Ammonia Market

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Impact of COVID-19 on Market

Covid -19 pandemic has affected almost every industry, and the long-term effects are projected to impact the Green Ammonia growth during the forecast period. Covid-19 pandemic has impacted huge on the sales revenue of Green Ammonia market .The restrictions and lockdown imposed by the government in several countries has slow down the market and decrease the demand for Green Ammonia, In recent days relaxation in restrictions by the government and people are getting vaccinated to stop the spread of corona virus are expecting to raise the Green Ammonia market growth

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