What is the projected growth rate (CAGR) of the Green ammonia market from 2024 to 2031, and what is the market value expected to change   by 2031?

The global green ammonia market size was worth US$ 0.2 billion in 2023 and is estimated to reach US$ 5.9 billion by 2031, growing at a CAGR of 52.95% during the forecast period (2024-2031). 

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What is Green ammonia market ?

Green ammonia refers to ammonia that is produced using renewable energy sources such as wind, solar, or hydropower through a process called electrolysis, which eliminates carbon emissions associated with conventional ammonia production. The green ammonia market is rapidly growing due to its potential to serve as a clean fuel, hydrogen carrier, and sustainable fertilizer alternative. With increasing focus on decarbonizing industrial and agricultural sectors, especially in regions like Europe, the U.S., and Japan, the market is witnessing rising investments, pilot projects, and international collaborations to scale production and infrastructure for green ammonia deployment across energy and transportation sectors.

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Conclusion

The global Green Ammonia Market is not just a growing industry it’s a cornerstone of the world’s transition toward sustainable energy and agriculture. As governments push for net-zero targets, industries demand low-carbon solutions, and investors seek climate-aligned assets, green ammonia stands out as a multi-functional, scalable solution. Backed by rapid technological advancements, supportive policy frameworks, and rising adoption in the US, Japan, and beyond, the market is set to evolve from pilot projects to large-scale commercial deployment.

With its ability to decarbonize critical sectors such as fertilizer production, shipping, and power generation, green ammonia offers both environmental and economic value. Stakeholders who invest early in infrastructure, innovation, and partnerships will be best positioned to capitalize on this high-growth, future-proof market. As the decade progresses, green ammonia is not just a clean energy option it’s becoming a global necessity.

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Top Key Companies:

ThyssenKrupp, Siemens Energy, Man Energy Solutions, Nel Hydrogen, Green Hydrogen Systems, ITM Power, Mcphy Energy, Hydrogenics, Star Fire Energy and AquaHydrex.

Market Segments:

By Technology: Alkaline Water Electrolysis (AWE), Proton Exchange Membrane (PEM), Solid Oxide Electrolysis (SOE)

By End-User : Transportation, Power Generation, Industrial Feedstock.

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