Ammonia has existing infrastructure, is carbon-free, has high gravimetric and volumetric hydrogen densities, and can be used directly without breaking down, making it a suitable hydrogen storage material. Ammonia is also considered safe because of its high autoignition temperature, low condensation pressure, and lower gas density than air. Ammonia may be generated from a wide range of primary energy sources, such as fossil fuels, renewable energy, and excess energy. Ammonia energy may be directly extracted and used as fuel at the utilization site. Ammonia is produced using the electrochemical, thermochemical, and Haber–Bosch cycle methods that are now in use. Adopting ammonia as fuel is encouraging, but there are several obstacles which still need to be overcome for wider and more effective combustion. Since ammonia has a moderate flame speed and a high ignition energy, it is not very flammable. The study highlights ammonia’s potential for direct use in internal combustion engines and direct ammonia fuel cells due to its superior overall energy efficiency. However, utilization of ammonia is not difficult as it may result in NOx emissions and poor combustion performance. Ammonia may assist in decarbonizing current ammonia markets by replacing fossil fuels and promoting greening in the industrial sector, such as fertilizer and chemical manufacturing. Ammonia can also accelerate decarbonization in businesses that are difficult to abate, such as by retrofitting already-existing ammonia facilities.