Global grey hydrogen market to reach 158.5 billion this year, research finds
In California, Grand View Research reported that the global grey hydrogen market size was valued at $153.7 billion in 2025 and is projected to grow from $158.5 billion in 2026 to $177.9 billion by 2033, at a CAGR of 1.7% from 2026 to 2033.
The Asia Pacific grey hydrogen market dominated with a revenue share of 36.8% in 2025, and is also expected to witness the fastest CAGR from 2026 to 2033. This is due to its large refining, ammonia, chemical, and steel industries and continued industrial expansion. China, India, Japan, and South Korea account for substantial regional hydrogen consumption, while existing fossil-fuel-based production infrastructure supports conventional hydrogen supply, said Grand View Research.
The firm also noted that the grey hydrogen market in Europe is supported by established demand from refining, ammonia, and chemical industries, with Germany, the Netherlands, and Poland accounting for nearly half of regional hydrogen demand.
The grey hydrogen market in the U.S. is primarily driven by methanol & ammonia production, and petroleum refining, which together account for more than 90% of national hydrogen demand. The U.S. produces and consumes approximately 14 million tons of hydrogen annually, with refining alone representing more than half of demand, it added.
Category: Hydrogen
