Korea Ammonia Fuelled Ships Market Size, Share & Trends Analysis Report By Ship Type (Cargo Ships, Tankers, Container Ships, Others), By Propulsion Type (Internal Combustion Engines, Fuel Cells, Hybrid Systems) and Forecasts, 2025-2033

South Korea Ammonia Fuelled Ships Market Insights

South Korea is witnessing growing momentum in the ammonia fuelled ships market, driven by its robust shipbuilding industry and aggressive carbon neutrality goals. With shipbuilders like Hyundai Heavy Industries and Samsung Heavy Industries actively investing in alternative marine propulsion, the demand for ammonia as a zero-carbon fuel is gaining traction. A key driver is Korea’s participation in global decarbonization initiatives, which aligns with the International Maritime Organization’s (IMO) 2050 emission targets. However, regulatory uncertainties and limited infrastructure for ammonia bunkering present notable restraints. Investment risks are also amplified by safety concerns surrounding ammonia’s toxicity. Yet, opportunities are emerging through government-backed pilot projects and cross-border collaborations, particularly with Middle Eastern green ammonia suppliers. There is also a trend toward developing dual-fuel engines compatible with both ammonia and conventional fuels, which offers transitional flexibility. Given this dynamic landscape, the ammonia fuelled ships market in Korea is projected to grow at a CAGR of approximately 18.5% from 2025 to 2035.