The IEA estimates more than 7 trillion USD needed to be spent towards the hydrogen segment to achieve net zero emissions of greenhouse gases by 2050. The organization also cites the disparity between the pledges being made by nations and the necessary steps being taken. Hundreds of millions of dollars will likely be spent on valves for hydrogen applications. There is an existing market in the steel and chemical industries and automotive companies are racing to be the first to use hydrogen fuel cells. The power industry is planning to burn hydrogen in gas turbines to replace at least some of the natural gas.