GREEN AMMONIA MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)

Market Concentration and Competitive Landscape

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Government initiatives promoting green energy solutions

Governments around the world are increasingly recognizing both the economic and environmental imperative to prioritize renewable energy and decarbonization strategies. For instance, according to data from Invest India released in July 2024, India has set an ambitious goal to achieve 500 GW of installed capacity from non-fossil fuel sources by 2030. This initiative is part of a comprehensive strategy aimed at reducing carbon intensity and ultimately reaching net-zero emissions by 2070. By investing in renewable energy and transitioning away from fossil fuels, India seeks to play a significant role in global efforts to combat climate change while promoting sustainable development. Many countries have committed to net-zero emissions targets by 2050 through their Nationally Determined Contributions under the Paris Agreement. Translating these ambitious climate goals into substantive policy actions and investment programs requires channeling capital towards clean technologies at an unprecedented scale. Green ammonia is emerging as an important part of the solution, offering possibilities for renewable hydrogen storage, transportation, and power generation while cutting dependence on fossil fuels.

Notably, significant government funding is flowing into green ammonia demonstration projects, production plants and associated infrastructure. For instance, the European Union has allocated over USD 166.7 million for green ammonia initiatives under its Innovation Fund program. Australia launched an USD 201.7 million Low Emissions Technology Investment Package focused on renewable hydrogen projects. Similar initiatives are underway in Japan, South Korea, United Arab Emirates and other economies. On the regulatory front, policies such as emissions trading schemes, carbon pricing, renewable energy mandates, and public procurement preferences aim to accelerate the commercialization of green ammonia. Strategies are also being developed for importing and utilizing green ammonia in hard-to-abate sectors. Overall, sustained government support through targeted subsidies, financing support, and a conducive policy framework will play a defining role in scaling up green ammonia production globally over the next decade.