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Grey Hydrogen Market Trends

Report ID: GMI9505
Published Date: May 2024
Report Format: PDF

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Grey Hydrogen Market Trends

The existing grey hydrogen infrastructure is extensive and deeply integrated into the global industrial landscape. The majority of grey hydrogen is produced using SMR, wherein the facilities are widespread and constitute the backbone of the grey hydrogen supply chain. Growing infrastructure of dedicated hydrogen pipelines to transport hydrogen from production sites to industrial users, wherein the extensive network is used for hydrogen blending will boost the business scenario. Furthermore, some grey hydrogen facilities are beginning to integrate CCS technologies to reduce their carbon footprint and transition towards clean hydrogen production.

Authors: Ankit Gupta, Srishti Agarwal

Frequently Asked Questions (FAQ) :

The market size of grey hydrogen was reached USD 147.5 billion in 2023 and will grow at a 3.4% CAGR between 2024 and 2032, propelled by the growing demand for hydrogen coupled with the availability of natural gas feedstock and existing infrastructure for hydrogen transportation and storage.

Grey hydrogen market share from the natural gas segment will garner USD 125.5 billion by 2032 due to the widespread availability and cost-effectiveness of natural gas feedstock for hydrogen production.

Asia Pacific grey hydrogen industry will cross USD 137 billion by 2032, owing to robust industrial activities and energy-intensive sectors such as steel and chemicals.

Some of the leading grey hydrogen industry companies include Air Liquide, Air Products & Chemicals, Inc., China National Petroleum Corporation, Exxon Mobil Corporation, Indian Oil Corporation Limited, Iberdrola S.A., Linde plc, Messer Group GmbH, Orsted A/S, Praxair Technology, Inc., Reliance Industries Ltd., and Sinopec, among others.