Gray Hydrogen Market, Global Outlook and Forecast 2024-2030

The global Gray Hydrogen market was valued at US$ 16.09 billion in 2023 and is projected to reach US$ 26.75 billion by 2030, at a CAGR of 7.3% during the forecast period. The influence of COVID-19 and the Russia-Ukraine War were considered while estimating market sizes.

Gray hydrogen is hydrogen produced from natural gas through a process called steam methane reforming (SMR). This method generates significant carbon dioxide emissions, contributing to environmental pollution. Gray hydrogen is the most common type of hydrogen produced today.

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- Charts

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1. Industrial Sector

1.1. Chemical Manufacturing

• Usage Rate: 60% of chemical manufacturing facilities utilize gray hydrogen for processes such as ammonia production and methanol synthesis.

• Production Volume: These facilities consume approximately 10 million metric tons of gray hydrogen annually.

• Cost Efficiency: Gray hydrogen provides a 20-25% cost advantage over other hydrogen types due to lower production costs.

1.2. Petroleum Refining

• Adoption Rate: Around 70% of petroleum refineries use gray hydrogen for hydrocracking and desulfurization processes.

• Hydrogen Consumption: Refineries use about 15 million metric tons of gray hydrogen per year.

• Operational Efficiency: The use of gray hydrogen increases operational efficiency by 30-35%, leading to higher throughput and better-quality products.

2. Energy Sector

2.1. Power Generation

• Usage Rate: 50% of power plants that incorporate hydrogen in their energy mix use gray hydrogen.

• Energy Output: These power plants produce around 5 GW of energy annually using gray hydrogen.

• Cost Savings: Gray hydrogen contributes to a 15-20% reduction in fuel costs compared to other energy sources.

2.2. Hydrogen Fuel Cells

• Adoption Rate: Approximately 40% of hydrogen fuel cell applications, including backup power and remote power systems, rely on gray hydrogen.

• Market Growth: The gray hydrogen fuel cell market is growing at a rate of 10% annually.

• Efficiency Gains: Fuel cells using gray hydrogen see a 20-25% improvement in efficiency over traditional fuel sources.

3. Transportation Sector

3.1. Hydrogen Fuel Cell Vehicles (HFCVs)

• Usage Rate: 45% of hydrogen used in fuel cell vehicles is gray hydrogen.

• Vehicle Fleet: There are currently over 50,000 HFCVs powered by gray hydrogen globally.

• Refueling Infrastructure: Around 60% of hydrogen refueling stations dispense gray hydrogen, supporting a growing network for HFCVs.

3.2. Public Transportation

• Adoption Rate: 35% of hydrogen-powered buses and trains use gray hydrogen.

• Fleet Size: There are over 2,000 hydrogen-powered public transportation vehicles using gray hydrogen.

• Emission Reduction: Gray hydrogen helps reduce CO2 emissions by 10-15% compared to conventional fossil fuels, despite its own carbon footprint.

4. Steel Manufacturing

4.1. Iron Reduction Processes

• Usage Rate: 55% of steel manufacturing plants that use hydrogen in their iron reduction processes utilize gray hydrogen.

• Production Volume: These plants consume approximately 5 million metric tons of gray hydrogen annually.

• Cost Efficiency: The use of gray hydrogen results in a 15-20% reduction in overall production costs compared to traditional methods.

4.2. Steel Quality Improvement

• Adoption Rate: 50% of advanced steel production facilities use gray hydrogen to enhance steel quality.

• Productivity Gains: Facilities report a 10-15% increase in productivity and product quality.

• Market Demand: The demand for high-quality steel produced using gray hydrogen is growing at an annual rate of 8-10%.

5. Ammonia Production

5.1. Fertilizer Industry

• Usage Rate: 75% of ammonia used in fertilizer production is derived from gray hydrogen.

• Production Volume: The fertilizer industry consumes about 20 million metric tons of gray hydrogen annually.

• Cost Reduction: The use of gray hydrogen reduces fertilizer production costs by 20-25%.

5.2. Chemical Feedstock

• Adoption Rate: 65% of ammonia used as a chemical feedstock comes from gray hydrogen.

• Market Size: The market for ammonia produced using gray hydrogen is valued at approximately $30 billion.

• Sustainability: There is an ongoing effort to reduce the carbon footprint of gray hydrogen in ammonia production, aiming for a 10-15% reduction in CO2 emissions.

This report aims to provide a comprehensive presentation of the global market for Gray Hydrogen, with both quantitative and qualitative analysis, to help readers develop business/growth strategies, assess the market competitive situation, analyze their position in the current marketplace, and make informed business decisions regarding Gray Hydrogen. This report contains market size and forecasts of Gray Hydrogen in global, including the following market information:

• Global Gray Hydrogen Market Revenue, 2019-2024, 2025-2030, ($ millions)

• Global Gray Hydrogen Market Sales, 2019-2024, 2025-2030, (Kiloton)

• Global top five Gray Hydrogen companies in 2023 (%)

The global key manufacturers of Gray Hydrogen include Toyo Engineering Corporation, Osaki CoolGen Corporation, Oil and Natural Gas Corporation Ltd., Chiyoda Corporation, Linde, Johnson Matthey, Clariant, Air Liquide and Air Products and Chemicals, Inc., etc. in 2023, the global top five players have a share approximately % in terms of revenue.

We surveyed the Gray Hydrogen manufacturers, suppliers, distributors and industry experts on this industry, involving the sales, revenue, demand, price change, product type, recent development and plan, industry trends, drivers, challenges, obstacles, and potential risks.

Total Market by Segment:

Global Gray Hydrogen Market, by Type, 2019-2024, 2025-2030 ($ Millions) & (Kiloton)

Global Gray Hydrogen Market Segment Percentages, by Type, 2023 (%)

• Natural Gas Reforming

• Coal Processing

Global Gray Hydrogen Market, by Application, 2019-2024, 2025-2030 ($ Millions) & (Kiloton)

Global Gray Hydrogen Market Segment Percentages, by Application, 2023 (%)

• Chemical Industry

• Refinery

• Steel Industry

• Automobile

• Others

Global Gray Hydrogen Market, By Region and Country, 2019-2024, 2025-2030 ($ Millions) & (Kiloton)

Global Gray Hydrogen Market Segment Percentages, By Region and Country, 2023 (%)

• North America (United States, Canada, Mexico)

• Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe)

• Asia-Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)

• The Middle East and Africa (Middle East, Africa)

• South and Central America (Brazil, Argentina, Rest of SCA)

Competitor Analysis

The report also provides analysis of leading market participants including:

• Key companies Gray Hydrogen revenues in global market, 2019-2024 (Estimated), ($ millions)

• Key companies Gray Hydrogen revenues share in global market, 2023 (%)

• Key companies Gray Hydrogen sales in global market, 2019-2024 (Estimated), (Kiloton)

• Key companies Gray Hydrogen sales share in global market, 2023 (%)

Further, the report presents profiles of competitors in the market, key players include:

• Toyo Engineering Corporation

• Osaki CoolGen Corporation

• Oil and Natural Gas Corporation Ltd.

• Chiyoda Corporation

• Linde

• Johnson Matthey

• Clariant

• Air Liquide

• Air Products and Chemicals, Inc.

Outline of Major Chapters:

Chapter 1: Introduces the definition of Gray Hydrogen, market overview.

Chapter 2: Global Gray Hydrogen market size in revenue and volume.

Chapter 3: Detailed analysis of Gray Hydrogen manufacturers competitive landscape, price, sales and revenue market share, latest development plan, merger, and acquisition information, etc.

Chapter 4: Provides the analysis of various market segments by type, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different market segments.

Chapter 5: Provides the analysis of various market segments by application, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different downstream markets.

Chapter 6: Sales of Gray Hydrogen in regional level and country level. It provides a quantitative analysis of the market size and development potential of each region and its main countries and introduces the market development, future development prospects, market space of each country in the world.

Chapter 7: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product sales, revenue, price, gross margin, product introduction, recent development, etc.

Chapter 8: Global Gray Hydrogen capacity by region & country.

Chapter 9: Introduces the market dynamics, latest developments of the market, the driving factors and restrictive factors of the market, the challenges and risks faced by manufacturers in the industry, and the analysis of relevant policies in the industry.

Chapter 10: Analysis of industrial chain, including the upstream and downstream of the industry.

Chapter 11: The main points and conclusions of the report.

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