New York, Feb. 13, 2024 (GLOBE NEWSWIRE) — The global grey hydrogen market size is predicted to expand at ~3% CAGR between 2024 and 2036. The market is projected to garner a revenue of USD 192 billion by the end of 2036, up from a revenue of ~USD 135 billion in the year 2023.Grey Hydrogen’s role as a transitional solution in the broader hydrogen economy is one of the primary drivers for the market’s growth. Grey hydrogen, derived from fossil fuels like natural gas or coal, serves as a bridge between conventional fuels and cleaner alternatives. In the Net Zero Emissions by 2050 scenario, novel uses in heavy industries and long-distance transport account for one-third of worldwide hydrogen demand by 2030, compared to less than 0.1% in the former case.  Its widespread use stems from established infrastructure and cost-effectiveness, meeting immediate industrial demands for hydrogen.Increasing Demand for fertilizers across the Globe to Boost Market Growth
(GlobeNewsWire)