Popularity of renewable energy sources has surged due to worries about climate change and is expected to drive market expansion in the near future at a CAGR of 25.00% during the forecast period 2024 to 2032

Market Research Future (MRFR) has published on the “Global Hydrogen Electrolyzers Market”.

The Hydrogen Electrolyzers market is estimated to register a CAGR of 25.00% during the forecast period of 2024 to 2032.

MRFR recognizes the following companies as the key players in the global Hydrogen Electrolyzers market— Nel Hydrogen, Siemens AG, McPhy Energy, ITM Power Plc, Tianjin Mainland Hydrogen Equipment Co. Ltd, Gaztransport & Technigaz, Giner Inc., GreenHydrogen Systems, iGas Energy GmbH, Beijing CEI Technology Co., Ltd., Next Hydrogen and Air Liquide

Market Highlights

The global Hydrogen Electrolyzers market is accounted to register a CAGR of 25.00% during the forecast period and is estimated to reach USD 5.1 billion by 2032.

Growing consumer interest in automobiles powered by hydrogen fuel cells has emerged as a key factor propelling the market. People are moving from gasoline-powered automobiles to fuel-cell vehicles, which are assisting the sector in generating significant money over time. One significant element limiting the market's growth has been the availability of less expensive alternatives to hydrogen fuel cells in the marketplace.

Browse In-depth Details [Table of Content, List of Figures, List of Tables] of Hydrogen Electrolyzers Market Research Report

Segment Analysis

The global Hydrogen Electrolyzers market has been segmented based on Product Type, Capacity, Outlet Pressure, and End Use.

Based on Product Type, the global Hydrogen Electrolyzers market has been segmented into Proton Exchange Membrane Electrolyzer, Alkaline Electrolyzer, and Solid Oxide Electrolyzer. The Alkaline Electrolyzer segment was expected to hold the largest market share in 2023. This is because they are the favoured choice when generating hydrogen at a reduced cost, which is the main objective.

On the basis of Capacity, the market is segmented into Low (<= 150 kW), Medium (150kW - 1mW), High (> 1mW). The Medium (150kW - 1mW) segment was attributed to holding the largest market share in 2023. This is because of their remarkable capacity to supply hydrogen to a wide range of sectors.

Based on Outlet Pressure, the global Hydrogen Electrolyzers market has been segmented into Low (<= 10 Bar), Medium (10 Bar - 40 Bar), High (> 40 Bar). The Low (<= 10 Bar) segment was expected to hold the largest market share in 2023. This is because fuel cell vehicles that use hydrogen fueling stations are best suited for low outlet pressure electrolyzers.

Based on End Use, the global Hydrogen Electrolyzers market has been segmented into Ammonia, Methanol, Refining/ Hydrocarbon, Electronics, Energy, Power to Gas, Transport, Metal Production and Fabrication, Pharma and Biotech, Food and Beverages, Glass Industry and Others. The Electronics segment was expected to hold the largest market share in 2023.This is because the electronics sector places a high priority on building robust supply chains to reduce the likelihood of supply chain disruptions.

Regional Analysis

The global Hydrogen Electrolyzers market, based on region, has been divided into North America, Europe, Asia-Pacific, and Rest of the World. North America consists of the US and Canada. The Europe Hydrogen Electrolyzers market comprises of Germany, France, the UK, Italy, Spain, and the rest of Europe. The Hydrogen Electrolyzers market in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The Rest of the World Hydrogen Electrolyzers market comprises the Middle East, Africa, and Latin America.

The largest market share for Hydrogen Electrolyzers was maintained by the North American regional sector. Renewable energy resources abound in North America, including hydropower, solar power, and wind energy. Electrolyzing hydrogen provides a way to incorporate renewable electricity into the energy system. After that, this green hydrogen can be utilized as a clean energy carrier for a range of purposes, including energy storage, industrial operations, and transportation. In North America, the need for hydrogen electrolyzers is driven by the growing emphasis on the integration of renewable energy sources.

Moreover, Europe is a big consumer of commodities; the majority of electrolyzers made locally are used there. The demand for electrolyzers in the area is increased by the presence of firms involved in vehicle, construction, textile, power generation, and coatings since their capacity to lower carbon footprints is beneficial.

Additionally, the market for electric vehicles is large in Asia-Pacific, which is driving up demand for hydrogen fuel cells. Due to their capacity to produce electricity from green hydrogen—a by product of electrolysis using renewable energy sources like solar and wind power—and lower carbon footprint, electrolyzers are becoming more and more in demand in the building and construction, manufacturing, personal transportation, and electric vehicle industries. Another major driver of the industry is the rising need for hydrogen. Growing interest has been shown in hydrogen as a flexible and renewable energy source that might decarbonize a number of industries, including transportation.

Furthermore, the rest of the world's Hydrogen Electrolyzers market is divided into the Middle East, Africa, and Latin America. This growth is attributed to its utilization as a clean energy carrier for a range of purposes. Government support, a rise in investor interest, and the viability of the technology in the sector are all contributing factors to the market expansion.

Key Findings of the Study

• The global Hydrogen Electrolyzers market is expected to reach USD 5.1 billion by 2032, at a CAGR of 25.00% during the forecast period.


• The Asia-Pacific region accounted for the fastest-growing global market due to the rising need for hydrogen. Growing interest has been shown in hydrogen as a flexible and renewable energy source that might decarbonize a number of industries, including transportation.


• Based on end user, the electronics segment was expected to hold the largest market share in 2023.


• Nel Hydrogen, Siemens AG, McPhy Energy, ITM Power Plc, Tianjin Mainland Hydrogen Equipment Co. Ltd, Gaztransport & Technigaz, Giner Inc., GreenHydrogen Systems, iGas Energy GmbH, Beijing CEI Technology Co., Ltd., Next Hydrogen and Air Liquide are the key market players.