North America Green Ammonia Market: Current Analysis and Forecast (2024-2032)

Report Description

North America Green Ammonia Size & Forecast

The North America Green Ammonia was valued at USD 14.7 Million and is expected to grow at a strong CAGR of around 81.9% during the forecast period (2024-2032) owing to rising investment in renewable energy.

North America Green Ammonia Analysis

North America is one of the major regions in the Green Ammonia market with a CAGR of 81.9% from 2024-32F. This is because of the increasing awareness among people about sustainable living and additionally, government initiatives are driving the Green Ammonia market in the region. For example, in the United States, the California Fuel Partnership in their vision report targeted for 1 million FCEVs and 1,000 hydrogen fueling stations by 2030. In addition to this, many companies are investing in research and development in the fields of Green Ammonia which is further driving the growth of this market across the region. For instance, The largest producer of ammonia in the US, CF Industries Holdings, has signed a contract with ThyssenKrupp AG for a 20MW green hydrogen project at its factory in Louisiana (U.S.). When completed in 2023, this green ammonia project will be the largest of its kind in North America.

North America Green Ammonia Trends

This section discusses the key market trends that are influencing the various segments of the North America Green Ammonia as identified by our team of research experts.

Growing consumption of fertilizers

The global population is growing rapidly; therefore, there is a need to increase agricultural production to fulfill the food requirements of the growing population. The use of chemical fertilizers to enhance agricultural production has become a common practice across the globe. Furthermore, demand for organic and environment-friendly fertilizers is also rising. Organic fertilizers are formulated with natural plant residues and waste, animal manures & excreta, micro-organisms, and botanical extracts to enhance agricultural production. Therefore, factors such as the growing need to increase agricultural production and increasing awareness about the harmful effects of chemical inputs and benefits of organic fertilizers augment the consumption of various environment-friendly fertilizers.

U.S. is Expected to Grow with Significant CAGR During Forecast Period

The U.S. had the highest revenue in the Green Ammonia market in the North American region. This is mainly owing to the increasing awareness among people about renewable energies and the increasing number of choice options in the region. In addition to this, the growing investment in clean energy initiatives and various government policies in the country is further propelling market growth. For example, the U.S. Department of Energy (DoE) announced USD 50 million for new and innovative research for trucks, off-road vehicles, and fuels that power them. The department also takes the initiative to fund projects that do R&D into wide-scale H₂  production and utilization in the U.S. allocating USD 64 million to accelerate hydrogen projects.

North America Green Ammonia Industry Overview

The North America Green Ammonia is competitive and fragmented, with the presence of several global and international market players. The key players are adopting different growth strategies to enhance their market presence, such as partnerships, agreements, collaborations, new product launches, geographical expansions, and mergers and acquisitions. Some of the major players operating in the market are Siemens, Thyssenkrupp, Nel Hydrogen, Green Hydrogen Systems, MAN Energy Solutions, Uniper, BASF, Enapter, ENGIE, Hiringa Energy, BASF, Enaex SA, and JGC Holding Corporation.

North America Green Ammonia News

Feb 2023: Siemens Energy and Brooge Energy plans to collaborate on the development of green hydrogen and ammonia project in Abu Dhabi.

April 2024: The green hydrogen project of EverWind Fuels in Nova Scotia is progressing with the completion of the front-end engineering design (FEED) and front-end loading engineering (FEL-3). The completion of the FEED with Black & Veatch for the first phase of the green hydrogen to green ammonia project in Point Tupper, Nova Scotia, “marks a major milestone” and represents the first announced completion of FEED for a large-scale green hydrogen and green ammonia production facility in North America.

North America Green Ammonia Report Coverage

Reasons to buy this report:

• The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
• The report presents a quick review of overall industry performance at one glance.
• The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolios, expansion strategies, and recent developments.
• Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
• The study comprehensively covers the market across different segments.
• Deep dive regional level analysis of the industry.

Customization Options:

The North America Green Ammonia market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.

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Research Methodology

Research Methodology for the North America Green Ammonia Analysis (2024-2032)

Analyzing the historical market, estimating the current market, and forecasting the future market of the North America Green Ammonia market were the three major steps undertaken to create and analyze the adoption of North America Green Ammonia in major Countries. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the North America Green Ammonia market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:

Analysis of Historical Market Size

Step 1: In-Depth Study of Secondary Sources:

Detail secondary study was conducted to obtain the historical market size of the North America Green Ammonia market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.

Step 2: Market Segmentation:

After obtaining the historical market size of the North America Green Ammonia market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report as technology and end-users. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.

Step 3: Factor Analysis:

After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the North America Green Ammonia market. Further, we conducted factor analysis using dependent and independent variables such as technology and end-users of the North America Green Ammonia market. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the North America Green Ammonia market sector across the globe.

Current Market Size Estimate & Forecast

Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the North America Green Ammonia market, and market shares of the segments. All the required percentage shares split and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.

Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2032 for different segments and sub-segments across the major markets. The research methodology adopted to estimate the market size encompasses:

• The industry’s market size, in terms of revenue (USD) and the adoption rate of the North America Green Ammonia market across the major markets domestically
• All percentage shares, splits, and breakdowns of market segments and sub-segments
• Key players in the North America Green Ammonia market in terms of products offered. Also, the growth strategies adopted by these players to compete in the fast-growing market

Market Size and Share Validation

Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.

Split of Primary Participants in Different Regions

Market Engineering

The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the North America Green Ammonia market. data was split into several segments & sub-segments post studying various parameters and trends in the areas of the technology and End-user in the North America Green Ammonia market.

The main Objective of the North America Green Ammonia Study

The current & future market trends of the North America Green Ammonia market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:

• Analyze the current and forecast market size of the North America Green Ammonia market in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments
• Segments in the study include areas of the technology and end-user
• Define and analysis of the regulatory framework for the North America Green Ammonia industry
• Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry
• Analyze the current and forecast market size of the North America Green Ammonia market for the major region
• Major countries studied in the report include U.S., Canada, and the Rest of North America
• Company profiles of the North America Green Ammonia market and the growth strategies adopted by the market players to sustain in the fast-growing market
• Deep dive regional level analysis of the industry

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