The global green ammonia market was valued at USD 3.12 billion in 2024 and is projected to reach USD 84.5 billion by 2032, expanding at a compound annual growth rate (CAGR) of 98.3% from 2025 to 2032. The market growth is driven by increasing global focus on clean energy solutions, carbon reduction targets, and government-backed renewable energy initiatives fostering large-scale green hydrogen and ammonia production.
The growing adoption of green ammonia as a marine and industrial fuel is a critical trend, as the compound offers zero-carbon emissions and eliminates sulfur output, contributing to better air quality. Green ammonia is synthesized using hydrogen produced through renewable water electrolysis and nitrogen derived from atmospheric air. It is emerging as a sustainable energy carrier and feedstock, with potential applications in power generation, marine transport, industrial heating, and fuel cells. Increasing investments in shipping decarbonization and favorable regulatory measures encouraging low-emission fuels are expected to fuel further growth.
By 2040, renewable ammonia is anticipated to become a mainstream commodity chemical as nations implement clean energy policies aimed at replacing traditional ammonia derived from natural gas. Rising demand for sustainable fertilizers, along with energy storage and power generation applications, is expected to significantly accelerate the industry’s growth. Furthermore, government-backed renewable energy projects and advancements in electrolysis efficiency will enhance production scalability and cost competitiveness through 2032.
Several international energy leaders, including Yara International, ThyssenKrupp AG, and BASF SE, are expanding capabilities across the entire value chain—from hydrogen production to ammonia synthesis and distribution. Companies like Haldor Topsoe, Statkraft, and Aker Clean Hydrogen continue to advance electrolyzer efficiency, storage systems, and pilot plant deployments, setting the stage for rapid industrial commercialization.
The proton exchange membrane (PEM) segment held the largest share in 2024, driven by its operational flexibility and high power density. The segment benefits from increasing investments in advanced electrolyzer systems that can run directly on renewable electricity. PEM devices are highly suitable for dynamic grid operations and sustain electricity-to-hydrogen conversion efficiencies exceeding 85%.
The solid oxide electrolysis (SOE) segment is expected to witness the fastest growth through 2032. The technology enables high-temperature electrolysis for greater electrical efficiency, making it cost-competitive over long-term operations. Continued R&D in improving stack life and reducing capital costs is anticipated to strengthen segment growth. Meanwhile, alkaline electrolysis remains popular in developing economies due to its comparatively lower investment costs and simpler operational setup.
The transportation segment remained the leading application area in 2024 with a revenue share exceeding 31%. Its significant adoption stems from the global transition toward carbon-neutral shipping fuel alternatives. With the International Maritime Organization’s stricter emission norms, green ammonia is gaining rapid traction as an ideal zero-carbon maritime fuel. Its ease of liquefaction and energy density comparable to conventional marine fuel make it advantageous for long-distance operations.
The power generation segment also holds a notable share, as utilities increasingly explore eco-friendly ammonia-to-power technologies in combination with renewable grids. The fertilizer industry continues to represent a critical and emerging opportunity since ammonia is a vital nitrogen source in agricultural productivity, with rising preference for sustainably produced fertilizers. In addition, expanding demand from refrigeration and industrial heating sectors further supports diversified consumption.
North America remained the primary market in 2024, contributing more than 30% of total revenue. The U.S. led regional growth, supported by large-scale projects such as renewable hydrogen production facilities and ammonia export hubs. Growing decarbonization initiatives and tax incentives under the Inflation Reduction Act (IRA) continue to support both public and private investments across the value chain.
Asia Pacific is forecast to expand at a CAGR of over 105% during 2025–2032, driven by substantial green energy investments in China, India, Japan, and Australia. Regional governments are implementing long-term hydrogen roadmaps emphasizing ammonia co-firing and renewable hydrogen imports. In Europe, industrial decarbonization strategies and energy security goals have positioned Germany and Spain as potential leaders in green ammonia production, utilizing offshore wind resources and advanced electrolysis facilities.
The global market is characterized by strong participation from major players advancing renewable energy integration and scaling ammonia production capacity. Companies are entering partnerships and offtake agreements to commercialize new production facilities. In 2025, Siemens Energy collaborated with CF Industries to commission one of the largest green ammonia demonstration projects in the U.S., aimed at supplying the fertilizer and maritime fuel sectors. Similarly, Yara International ASA and Haldor Topsoe announced a joint initiative to expand green ammonia manufacturing at Herøya, Norway. Advances in electrolyzer performance and reduced development costs are expected to further attract investments.
| Report Attribute | Details |
| Market size value in 2024 | USD 3.12 billion |
| Revenue forecast in 2032 | USD 84.5 billion |
| Growth Rate | CAGR of 98.3% from 2025 to 2032 |
| Base year for estimation | 2024 |
| Historical data | 2020 – 2023 |
| Forecast period | 2025 – 2032 |
| Quantitative units | Volume in kilotons, revenue in USD billion, and CAGR from 2025 to 2032 |
| Report coverage | Industry trends, revenue projections, company profiles, competitive positioning, and growth drivers |
| Segments covered | Technology, End-use, Region |
| Regional scope | North America; Europe; Asia Pacific; Central & South America; Middle East & Africa |
| Country scope | U.S.; Canada; Mexico; Germany; UK; Spain; The Netherlands; Russia; China; India; Japan; Australia; Brazil; Chile; Peru; Saudi Arabia; South Africa |
| Key companies profiled | MAN Energy Solutions; Siemens Energy; ITM Power PLC; Nel Hydrogen; ThyssenKrupp AG; McPhy Energy; Yara International; BASF SE; ENGIE; Haldor Topsoe; Hiringa Energy; Uniper; Starfire Energy; Queensland Nitrates Pty Ltd |
How large is the green ammonia market in 2025?
The global green ammonia market is valued at USD 4.5 billion in 2025 and is projected to reach USD 84.5 billion by 2032, driven by global decarbonization efforts and clean energy transitions.
What is the expected growth rate of the market?
The market is expected to grow at a CAGR of 98.3% from 2025 to 2032, supported by large-scale green hydrogen projects and increasing renewable fuel adoption.
Which technology segment holds the largest share?
The proton exchange membrane technology segment leads the market, benefiting from improved operational efficiency and low conversion losses during electrolysis.
Who are the key players in the green ammonia market?
Prominent players include Siemens Energy, MAN Energy Solutions, ThyssenKrupp AG, Yara International, BASF SE, Nel Hydrogen, and Haldor Topsoe.
What factors are driving market growth?
Major drivers include the global move toward renewable energy, government incentives promoting low-carbon fuels, increasing clean shipping initiatives, and advancements in electrolysis and hydrogen storage technologies.
