Increasing popularity of hydrogen energy is expected to drive market expansion shortly at a CAGR of 25.20% during the forecast period 2023 to 2032

Market Research Future (MRFR) has published a cooked research report on the “Hydrogen Electrolyzer Market” that contains information from 2018 to 2032. The Hydrogen Electrolyzer Market is estimated to register a CAGR of 25.20% during the forecast period of 2023 to 2032.

MRFR recognizes the following companies as the key players in the global Hydrogen Electrolyzer Market— Siemens Energy, Nel Hydrogen, Bloom Energy, Giner Inc., Plug Power, McPhy, Pure Energy Centre, Idroenergy, Star Gate Hydrogen, and Enapter.

Market Highlights

The global Hydrogen Electrolyzer Market is accounted to register a CAGR of 25.20% during the forecast period and is estimated to reach USD 3.11 billion by 2032.

The surge in road accidents, driver shortages, governmental safety regulations, the imperative for streamlined bus operations, and the growing demand for modern buses that are both efficient and equipped with advanced features are driving the adoption of Hydrogen Electrolyzers.

Segment Analysis

The global Hydrogen Electrolyzer Market has been segmented based on Product Type, Capacity, Outlet Pressure, End-use, and Distribution Channel.

Based on the Product Type, the market is segmented into Proton Exchange Membrane, Alkaline Electrolyzer, and Solid Oxide Electrolyzer. The proton exchange membrane segment was attributed to holding the largest market share in 2022.  Proton Exchange Membrane (PEM) electrolysis holds significant industrial importance as an environmentally friendly source of exceptionally pure hydrogen, catering to both chemical processes and energy storage requirements. PEM electrolyzers offer several advantages in hydrogen production. They can operate at elevated current densities, promising substantial reductions in operational expenses. Additionally, PEM electrolyzers are known for their capability to produce high-purity hydrogen and achieve impressive electrolysis efficiency, often exceeding 85%. Notably, they generate no pollution, contributing to their environmentally friendly profile. Furthermore, these electrolyzers are praised for their lightweight and compact design, making them suitable for various applications.

Based on the Capacity, the Hydrogen Electrolyzer Market has been segmented into Upto 150 kw, 151 to 500 kw, 500 to 1000 kw, and Above 1000 kw. The above 1000 kw segment was expected to hold the largest market share in 2022. Electrolyzers boasting capacities exceeding 1000 kW are predominantly employed in industrial-scale operations. As industries intensify their pursuit of environmentally sustainable alternatives to conventional processes, there has been a notable surge in the demand for expansive hydrogen production facilitated by electrolysis.

Based on the Outlet Pressure, the Hydrogen Electrolyzer Market has been segmented into Upto 10 Bar, 11-40 Bar, and More than 40 Bar. The 11-40 bar segment was expected to hold the largest market share in 2022. The 11-40 bar pressure range proves highly conducive to diverse industrial applications. Industries frequently necessitate hydrogen at heightened pressures, especially for critical processes such as chemical manufacturing, refining, and metal processing. The upsurge in industrial hydrogen demand significantly propels the expansion of this particular market segment.

Based on the End-use, the Hydrogen Electrolyzer Market has been segmented into Methanol, Refining, Electronics, Power Gas, Transport, Food and beverage, and Others (Fabrication, Metal Production, etc.). The power gas segment was expected to hold the largest market share in 2022. Power-to-gas (P2G) involves transforming excess renewable energy into hydrogen gas using PEM electrolysis technology. The produced hydrogen can be seamlessly integrated into the natural gas grid. This integration allows hydrogen to substitute natural gas, leading to a reduction in greenhouse gas emissions and minimizing dependence on high-carbon fuels. P2G serves as a strategic and effective approach for transitioning towards a more environmentally sustainable natural gas composition

Based on the Distribution Channel, the Hydrogen Electrolyzer Market has been segmented into Direct Sales, and Indirect Sales. The direct sales segment was expected to hold the largest market share in 2022. End-users, encompassing industrial facilities, energy companies, and various enterprises, are gaining a heightened understanding of the advantages offered by hydrogen electrolyzers in on-site hydrogen production. This growing awareness is fostering a discernible trend wherein there is an uptick in the direct acquisition of these systems to fulfill precise operational and sustainability objectives.

Regional Analysis

The global Hydrogen Electrolyzer 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 Electrolyzer Market comprises of Germany, France, the UK, Italy, Spain, and the rest of Europe. The Hydrogen Electrolyzer 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's Hydrogen Electrolyzer Market comprises of Middle East, Africa, and Latin America.

The largest market share for the Hydrogen Electrolyzer Market was maintained by the North American regional sector. The growth in hydrogen production across different nations is credited to heightened efforts by the U.S. government. Notably, California has amended its Low Carbon Fuel Standard, introducing a more rigorous carbon intensity reduction rate to be enforced until 2030. Additionally, the state plans to offer incentives for the establishment of refueling stations and permit CCUS operators to engage in credit generation programs for low-carbon hydrogen. Consequently, regulatory initiatives by authorities throughout the U.S. are anticipated to fuel growth throughout the forecast period.

Moreover, the Europe market has been persistently growing over the forecast period. Europe stands out as a key market for hydrogen electrolyzers, propelled by the ambitious renewable energy and decarbonization targets established by European nations. Notably, Germany, the Netherlands, and France have significantly invested in electrolyzer projects and hydrogen infrastructure. As of 2022, Europe's total hydrogen demand reached 8.2 million metric tons, with industrial off-takers planning to consume 7.1 million metric tons per year of clean hydrogen by 2030. Among these, 4.3 million metric tons per year are earmarked for new demand emerging from applications and greenfield initiatives. The European Union's Green Deal and Hydrogen Strategy serve as additional catalysts, fostering the growth of the hydrogen electrolyzer market in the region.

The Asia Pacific region, notably encompassing countries like China, Japan, South Korea, and Australia, is experiencing rapid growth in the hydrogen electrolyzer market. These nations are strategically prioritizing hydrogen as a pivotal component of their energy transition initiatives, leading to substantial investments in hydrogen infrastructure, electrolyzer projects, and the integration of renewable energy sources. In India, the current hydrogen demand stands at approximately 6 million metric tons per annum, primarily driven by the internal consumption of refineries and fertilizer units. The hydrogen market in India is projected to reach around $30-35 billion per year by 2035-2040. China, in particular, has set ambitious targets for hydrogen production and deployment, presenting significant market opportunities.

Furthermore, the rest of the world's Hydrogen Electrolyzer Market is divided into the Middle East, Africa, and Latin America. The Middle East & Africa market boasts a larger consumer base than South America. Nonetheless, the South American market is poised for rapid expansion in the coming years, driven by the establishment of industrial manufacturing plants in multiple countries across the region.

Key Findings of the Study

• The global Hydrogen Electrolyzer Market is expected to reach USD 3.11 billion by 2032, at a CAGR of 25.20% during the forecast period.


• The Asia-Pacific region accounted for the fastest-growing global market because increasing awareness of clean energy, coupled with government-backed financial support and the imperative to address demand-supply imbalances, will enhance the industry outlook. The ongoing construction of new residential and commercial spaces, along with the establishment of new industrial gas facilities, has further boosted the adoption of these systems in the region.


• Based on product type, the proton exchange membrane segment was attributed to holding the largest market in 2022, with an approximate market share of 55–60%.


• Siemens Energy, Nel Hydrogen, Bloom Energy, Giner Inc., Plug Power, McPhy, Pure Energy Centre, Idroenergy, Star Gate Hydrogen, and Enapter