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% during the forecast period. Increasing investments in green fuel and large-scale green energy plans driving the green ammonia market.
COVID-19 Impact on the Global Green Ammonia Market
The ongoing COVID-19 pandemic has impacted the industries globally. Under the current situations, fossil power generation have faced immense challenges in terms of revenues, projects, CAPEX, and installations. The only segment that has faced least affect amidst this pandemic is renewable energy, however, some of the ongoing renewables energy projects have been put on hold. Green ammonia market is directly affected by renewable energy projects. Green ammonia market is in initial phases, wherein no commercial production has been observed till date. All the projects are in pilot or demonstration phases, and most of these are expected to be operational in coming 2 to 3 years. This study has been conducted assuming a realistic scenario, thus, due to halt age of projects, green ammonia market will face a slump in capital expenditures in 2020, but the projects will regain momentum by next year. Thus, COVID-19 will have absolutely mild impact on growth of green ammonia market in coming years.
A full report of Green Ammonia Market is available at: https://www.orionmarketreports.com/green-ammonia-market/44673/
Green Ammonia Market for Automotive Market: Segmentation
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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