LATAM 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 By Country(Brazil, Mexico, Argentina, Chile, Colombia, Rest of LATAM) Forecasts, 2025-2033
USD 4500
LATAM Ammonia Fuelled Ships Market Insights
The ammonia fuelled ships market in Latin America is gaining momentum as maritime stakeholders respond to global decarbonization mandates and increasing regional awareness about sustainable shipping. Driven by the International Maritime Organization’s (IMO) emission targets, LATAM ports and shipowners are exploring cleaner alternatives to conventional bunker fuel, with ammonia emerging as a strong candidate due to its carbon-free combustion and compatibility with renewable hydrogen production. Countries such as Brazil and Chile are taking the lead by investing in green ammonia projects powered by abundant solar and wind resources, creating a future-ready fuel ecosystem for shipping. However, infrastructure limitations remain a significant restraint. The absence of ammonia bunkering terminals, safety protocols, and regulatory clarity across most LATAM nations has slowed down early adoption. Despite this, growing investments in port modernization and regional collaboration with European technology providers offer substantial opportunities. A notable trend is the increasing integration of ammonia into hybrid propulsion systems, allowing smoother transitions from fossil fuels. Government-backed R&D efforts and public-private partnerships are also becoming more common to close the technical and financial gaps. Overall, the ammonia fuelled ships market in LATAM is expected to grow at a CAGR of around 13.8% over the next decade, reflecting rising momentum despite structural challenges.
TABLE - LATAM LATAM Ammonia Fuelled Ships Market Size & Forecast 2021 – 2033
| LATAM | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | 2028 | 2029 | 2030 | 2031 | 2032 | 2033 | CAGR (2024-2033) |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Brazil | XX | XX | XX | XX | XX | XX | XX | XX | XX | XX | XX | XX | XX | XX |
| Mexico | XX | XX | XX | XX | XX | XX | XX | XX | XX | XX | XX | XX | XX | XX |
| Argentina | XX | XX | XX | XX | XX | XX | XX | XX | XX | XX | XX | XX | XX | XX |
| Chile | XX | XX | XX | XX | XX | XX | XX | XX | XX | XX | XX | XX | XX | XX |
| Colombia | XX | XX | XX | XX | XX | XX | XX | XX | XX | XX | XX | XX | XX | XX |
| Rest of LATAM | XX | XX | XX | XX | XX | XX | XX | XX | XX | XX | XX | XX | XX | XX |
| Total | XXX | XXX | XXX | XXX | XXX | XXX | XXX | XXX | XXX | XXX | XXX | XXX | XXX | XXX |
Source: Company Publications, Primary Interviews, and SR Analysis
TABLE - LATAM Ammonia Fuelled Ships Market Size & Forecast By Ship Type 2021-2033
| Ship Type | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | 2028 | 2029 | 2030 | 2031 | 2032 | 2033 | CAGR (2024-2033) |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cargo Ships | XX | XX | XX | XX | XX | XX | XX | XX | XX | XX | XX | XX | XX | XX |
| Tankers | XX | XX | XX | XX | XX | XX | XX | XX | XX | XX | XX | XX | XX | XX |
| Container Ships | XX | XX | XX | XX | XX | XX | XX | XX | XX | XX | XX | XX | XX | XX |
| Others | XX | XX | XX | XX | XX | XX | XX | XX | XX | XX | XX | XX | XX | XX |
| Total | XXX | XXX | XXX | XXX | XXX | XXX | XXX | XXX | XXX | XXX | XXX | XXX | XXX | XXX |
Source: Company Publications, Primary Interviews, and SR Analysis
TABLE - LATAM Ammonia Fuelled Ships Market Size & Forecast By Propulsion Type 2021-2033
| Propulsion Type | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | 2028 | 2029 | 2030 | 2031 | 2032 | 2033 | CAGR (2024-2033) |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Internal Combustion Engines | XX | XX | XX | XX | XX | XX | XX | XX | XX | XX | XX | XX | XX | XX |
| Fuel Cells | XX | XX | XX | XX | XX | XX | XX | XX | XX | XX | XX | XX | XX | XX |
| Hybrid Systems | XX | XX | XX | XX | XX | XX | XX | XX | XX | XX | XX | XX | XX | XX |
| Total | XXX | XXX | XXX | XXX | XXX | XXX | XXX | XXX | XXX | XXX | XXX | XXX | XXX | XXX |
Source: Company Publications, Primary Interviews, and SR Analysis
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