The global electrolyzer market size accounted for USD 41.29 billion in 2025 and is forecasted to hit around USD 362.90 billion by 2034, representing a CAGR of 27.31% from 2025 to 2034. The Asia Pacific market size was estimated at USD 16.13 billion in 2024 and is expanding at a CAGR of 29.74% during the forecast period. The market sizing and forecasts are revenue-based (USD Million/Billion), with 2024 as the base year.
1.1. Research Objective
1.2. Scope of the Study
1.3. Definition
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations
3.1. Market Snapshot
4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Channel Analysis
4.3.3. Downstream Buyer Analysis
5.1. COVID-19 Landscape: Electrolyzer Industry Impact
5.2. COVID 19 - Impact Assessment for the Industry
5.3. COVID 19 Impact: Global Major Government Policy
5.4. Market Trends and Opportunities in the COVID-19 Landscape
6.1. Market Dynamics
6.1.1. Market Drivers
6.1.2. Market Restraints
6.1.3. Market Opportunities
6.2. Porter’s Five Forces Analysis
6.2.1. Bargaining power of suppliers
6.2.2. Bargaining power of buyers
6.2.3. Threat of substitute
6.2.4. Threat of new entrants
6.2.5. Degree of competition
7.1.1. Company Market Share/Positioning Analysis
7.1.2. Key Strategies Adopted by Players
7.1.3. Vendor Landscape
7.1.3.1. List of Suppliers
7.1.3.2. List of Buyers
8.1. Electrolyzer Market, by Type
8.1.1 PEM Electrolyzer
8.1.1.1. Market Revenue and Forecast
8.1.2. Alkaline Electrolyzer
8.1.2.1. Market Revenue and Forecast
8.1.3. Alkaline Electrolyzer
8.1.3.1. Market Revenue and Forecast
9.1. Electrolyzer Market, by Capacity
9.1.1. ≤ 500 kW
9.1.1.1. Market Revenue and Forecast
9.1.2. 500 kW - 2 MW
9.1.2.1. Market Revenue and Forecast
9.1.3. Above 2 MW
9.1.3.1. Market Revenue and Forecast
10.1. Electrolyzer Market, by Application
10.1.1. Steel plant
10.1.1.1. Market Revenue and Forecast
10.1.2. Power plants
10.1.2.1. Market Revenue and Forecast
10.1.3. Electronics and photovoltaics
10.1.3.1. Market Revenue and Forecast
10.1.4. Energy storage for fuel cells
10.1.4.1. Market Revenue and Forecast
10.1.5. Industrial gases
10.1.5.1. Market Revenue and Forecast
10.1.6. Power to gas
10.1.6.1. Market Revenue and Forecast
10.1.7. Others
10.1.7.1. Market Revenue and Forecast
11.1. North America
11.1.1. Market Revenue and Forecast, by Type
11.1.2. Market Revenue and Forecast, by Capacity
11.1.3. Market Revenue and Forecast, by Application
11.1.4. U.S.
11.1.4.1. Market Revenue and Forecast, by Type
11.1.4.2. Market Revenue and Forecast, by Capacity
11.1.4.3. Market Revenue and Forecast, by Application
11.1.5. Rest of North America
11.1.5.1. Market Revenue and Forecast, by Type
11.1.5.2. Market Revenue and Forecast, by Capacity
11.1.5.3. Market Revenue and Forecast, by Application
11.2. Europe
11.2.1. Market Revenue and Forecast, by Type
11.2.2. Market Revenue and Forecast, by Capacity
11.2.3. Market Revenue and Forecast, by Application
11.2.4. UK
11.2.4.1. Market Revenue and Forecast, by Type
11.2.4.2. Market Revenue and Forecast, by Capacity
11.2.4.3. Market Revenue and Forecast, by Application
11.2.5. Germany
11.2.5.1. Market Revenue and Forecast, by Type
11.2.5.2. Market Revenue and Forecast, by Capacity
11.2.5.3. Market Revenue and Forecast, by Application
11.2.6. France
11.2.6.1. Market Revenue and Forecast, by Type
11.2.6.2. Market Revenue and Forecast, by Capacity
11.2.6.3. Market Revenue and Forecast, by Application
11.2.7. Rest of Europe
11.2.7.1. Market Revenue and Forecast, by Type
11.2.7.2. Market Revenue and Forecast, by Capacity
11.2.7.3. Market Revenue and Forecast, by Application
11.3. APAC
11.3.1. Market Revenue and Forecast, by Type
11.3.2. Market Revenue and Forecast, by Capacity
11.3.3. Market Revenue and Forecast, by Application
11.3.4. India
11.3.4.1. Market Revenue and Forecast, by Type
11.3.4.2. Market Revenue and Forecast, by Capacity
11.3.4.3. Market Revenue and Forecast, by Application
11.3.5. China
11.3.5.1. Market Revenue and Forecast, by Type
11.3.5.2. Market Revenue and Forecast, by Capacity
11.3.5.3. Market Revenue and Forecast, by Application
11.3.6. Japan
11.3.6.1. Market Revenue and Forecast, by Type
11.3.6.2. Market Revenue and Forecast, by Capacity
11.3.6.3. Market Revenue and Forecast, by Application
11.3.7. Rest of APAC
11.3.7.1. Market Revenue and Forecast, by Type
11.3.7.2. Market Revenue and Forecast, by Capacity
11.3.7.3. Market Revenue and Forecast, by Application
11.4. MEA
11.4.1. Market Revenue and Forecast, by Type
11.4.2. Market Revenue and Forecast, by Capacity
11.4.3. Market Revenue and Forecast, by Application
11.4.4. GCC
11.4.4.1. Market Revenue and Forecast, by Type
11.4.4.2. Market Revenue and Forecast, by Capacity
11.4.4.3. Market Revenue and Forecast, by Application
11.4.5. North Africa
11.4.5.1. Market Revenue and Forecast, by Type
11.4.5.2. Market Revenue and Forecast, by Capacity
11.4.5.3. Market Revenue and Forecast, by Application
11.4.6. South Africa
11.4.6.1. Market Revenue and Forecast, by Type
11.4.6.2. Market Revenue and Forecast, by Capacity
11.4.6.3. Market Revenue and Forecast, by Application
11.4.7. Rest of MEA
11.4.7.1. Market Revenue and Forecast, by Type
11.4.7.2. Market Revenue and Forecast, by Capacity
11.4.7.3. Market Revenue and Forecast, by Application
11.5. Latin America
11.5.1. Market Revenue and Forecast, by Type
11.5.2. Market Revenue and Forecast, by Capacity
11.5.3. Market Revenue and Forecast, by Application
11.5.4. Brazil
11.5.4.1. Market Revenue and Forecast, by Type
11.5.4.2. Market Revenue and Forecast, by Capacity
11.5.4.3. Market Revenue and Forecast, by Application
11.5.5. Rest of LATAM
11.5.5.1. Market Revenue and Forecast, by Type
11.5.5.2. Market Revenue and Forecast, by Capacity
11.5.5.3. Market Revenue and Forecast, by Application
12.1. Nel Hydrogen (Norway)
12.1.1. Company Overview
12.1.2. Product Offerings
12.1.3. Financial Performance
12.1.4. Recent Initiatives
12.2. Asahi Kasei (Japan)
12.2.1. Company Overview
12.2.2. Product Offerings
12.2.3. Financial Performance
12.2.4. Recent Initiatives
12.3. Hydrogenics (Canada)
12.3.1. Company Overview
12.3.2. Product Offerings
12.3.3. Financial Performance
12.3.4. Recent Initiatives
12.4. Shandong Saikesaisi Hydrogen Energy Co., Ltd. (China)
12.4.1. Company Overview
12.4.2. Product Offerings
12.4.3. Financial Performance
12.4.4. Recent Initiatives
12.5. Teledyne Energy Systems (U.S.)
12.5.1. Company Overview
12.5.2. Product Offerings
12.5.3. Financial Performance
12.5.4. Recent Initiatives
12.6. Siemens (Germany)
12.6.1. Company Overview
12.6.2. Product Offerings
12.6.3. Financial Performance
12.6.4. Recent Initiatives
12.7. Kobelco Eco-Solutions (U.S.)
12.7.1. Company Overview
12.7.2. Product Offerings
12.7.3. Financial Performance
12.7.4. Recent Initiatives
12.8. Green Hydrogen Systems (Denmark)
12.8.1. Company Overview
12.8.2. Product Offerings
12.8.3. Financial Performance
12.8.4. Recent Initiatives
12.9. Next Hydrogen (Canada)
12.9.1. Company Overview
12.9.2. Product Offerings
12.9.3. Financial Performance
12.9.4. Recent Initiatives
12.10. H-Tec Systems (Germany)
12.10.1. Company Overview
12.10.2. Product Offerings
12.10.3. Financial Performance
12.10.4. Recent Initiatives
13.1. Primary Research
13.2. Secondary Research
13.3. Assumptions
14.1. About Us
14.2. Glossary of Terms
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