Grey Hydrogen Market Analysis

Source (Natural Gas, Coal)

The natural gas segment is anticipated to hold 53% share of the global grey hydrogen market during the forecast period. The availability of low-cost natural gas is the prospective driver for the production of grey hydrogen. Also the abundant availability of natural gas as a hydrocarbon resource is driving the segment’s growth. All these factors culminatively provides for the segment growth and further, it has become an economically attractive feedstock for the production of hydrogen. As per our analysis, in 2021 the United States will have used 30.3 trillion cubic feet of gas. In 2019 figures have reached 31 trillion cubic feet, a new record.

Production (Steam Reformation, Gasification)

Application (Ammonia Production, Methanol Production, Refineries, Chemical Production)

Grey hydrogen market from the ammonia production segment is estimated to garner majority of the revenue share during the forecast period. The growth of this segment has been driven by the demand for ammonia in the fertilizer sector. The Haber-Bosch process is used to produce ammonia from hydrogen or nitrogen. In addition, firms are continuing to look for new and low or zero-carbon investment opportunities. By 2050, it is expected that grey hydrogen and NH3 will be key contributors to the world's attainment of net zero carbon emissions. The growth of this segment is ultimately to be attributed to all these factors.

Our in-depth analysis of the global market includes the following segments: