Grey Hydrogen Market Size to Surpass USD 661.22 Billion by 2033; Rising Demand from Petroleum Refineries Augment Market Growth | SNS Insider

The U.S. Grey Hydrogen Market Size was estimated to be worth USD 72.59 billion in 2025E and is projected to increase at a compound annual growth rate (CAGR) of 8.99% from 2026 to 2033, reaching USD 144.49 billion.

Austin, Nov. 28, 2025 (GLOBE NEWSWIRE) -- Grey Hydrogen Market Size & Growth Insights:

According to the SNS Insider,“The global Grey Hydrogen Market was valued at USD 327.70 billion in 2025E and is expected to reach USD 661.22 billion by 2033, growing at a CAGR of 9.26% during 2026-2033.”

Rising Demand for Hydrogen in Petroleum Refining Propel Market Growth Globally

One of the main drivers of growth is the rising use of hydrogen in petroleum refineries for hydrocracking, desulfurization, and the creation of cleaner fuel. Furthermore, hydrogen is a crucial feedstock for the synthesis of methanol and ammonia, which fuels industrial demand. Steady acceptance is supported by modernization efforts, refinery capacity expansion, and growing global energy demands.

Grey hydrogen is economically feasible due to the ubiquitous availability of natural gas and the established infrastructure for steam methane reforming, which lower production costs. These elements, along with rising investments in industrial hydrogen supply chains and government assistance for energy security, are propelling the industry.

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Leading Market Players with their Product Listed in this Report are:

• Air Liquide
• Air Products and Chemicals, Inc.
• Linde
• Exxon Mobil Corporation
• Chevron Corporation
• Reliance Industries Ltd.
• Indian Oil Corporation Ltd.
• China National Petroleum Corporation (CNPC)
• Sinopec Limited
• Messer Group GmbH
• Orsted A/S
• Iberdrola S.A.
• Praxair Technology, Inc. (now part of Linde )
• TotalEnergies SE
• BP plc
• Royal Dutch Shell plc
• Petrobras
• Saudi Aramco
• PetroChina Company Limited
• Eni S.p.A.

Grey Hydrogen Market Report Scope:

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Key Industry Segmentation

By Transportation Mode

Pipeline dominated with around 71% share in 2025 due to its cost-effective, safe, and efficient method for transporting large volumes of hydrogen over long distances. Cryogenic Liquid Tankers segment is expected to grow at the fastest CAGR from 2026-2033 due to increasing demand for flexible, long-distance hydrogen transport.

By End-Use Industry

Chemical dominated with a 56% market share in 2025 as hydrogen is extensively used in chemical manufacturing, including ammonia production and methanol synthesis. Refinery segment is expected to grow at the fastest CAGR from 2026-2033 due to increasing use of hydrogen in petroleum refining processes.

By Technology

Steam Methane Reforming dominated the market with 49% share in 2025 as it is the most established and cost-effective method for large-scale hydrogen production. Methane Pyrolysis segment is expected to grow at the fastest CAGR from 2026-2033 due to increasing focus on low-carbon hydrogen production. 

By Application

Petroleum Refinery dominated the market with a 32% share in 2025 and is expected to grow at the fastest CAGR from 2026-2033 due to the high demand for hydrogen in refining processes such as hydrocracking and desulfurization.

Regional Insights:

Asia Pacific dominated the Grey Hydrogen Market in 2025 with the highest revenue share of about 39% due to the region’s abundant natural gas resources and growing industrial demand. Rapid industrialization, expansion of chemical and petroleum refining sectors, and increasing investments in energy infrastructure drive grey hydrogen consumption.

North America in the Grey Hydrogen Market is witnessing steady growth due to high demand from petroleum refineries and chemical industries. Established infrastructure for steam methane reforming, abundant natural gas supply, and technological advancements support large-scale production.

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Recent News:

• 2024: Air Liquide launched an electrolyzer to produce renewable hydrogen in Oberhausen, Germany, demonstrating the power of collective efforts in advancing low-carbon hydrogen solutions.

• 2025: Reliance Industries aims to progressively commence the transition from grey to green hydrogen, after proving cost and performance targets.

Exclusive Sections of the Grey Hydrogen Market Report (The USPs):

• PRODUCTION & TECHNOLOGY PERFORMANCE METRICS – helps you understand technology-wise production share (SMR, coal gasification, etc.), average plant output levels, utilization rates, and the extent of carbon-capture integration across global grey hydrogen facilities.
• COST STRUCTURE & ECONOMIC VIABILITY INDEX – helps you evaluate average production costs per kg, breakdown of feedstock and energy expenses, regional price volatility, and comparative positioning of grey hydrogen versus blue and green alternatives.
• SUPPLY CHAIN & GLOBAL TRADE FLOW MAPPING – helps you track import–export volumes by country, identify key producing and consuming markets, assess end-use demand centers, and compare transport and storage efficiencies across pipeline, compressed, and liquid modes.
• ENVIRONMENTAL & EMISSION IMPACT METRICS – helps you assess CO₂ emissions per kg of grey hydrogen, the share of plants with emission tracking systems, production energy efficiency, and regional compliance levels with evolving sustainability standards.
• COMPETITIVE LANDSCAPE & MARKET POSITIONING ANALYSIS – helps you compare leading producers based on technology capabilities, production scale, trade presence, and emission mitigation strategies to evaluate their competitive strength in the grey hydrogen market.

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