Leading Electrolyzer Manufacturers

The global low-carbon hydrogen capacity in operation increased by 34% from 2024 to 2025, reflecting energy-security priorities alongside climate goals. Near-term additions were driven primarily by blue hydrogen, which represents ~76% of global active capacity. Between 2025 and 2030, green hydrogen is expected to grow at a faster rate, supported by mandates and carbon-intensity-linked incentives such as the EU's RED III. This outlook underpins strong long-term electrolyzer demand, although near-term electrolyzer overcapacity is weighing on orders and slowing market growth.

Near-term deployment across the four main electrolyzer technologies, alkaline, proton exchange membrane, anion exchange membrane, and solid oxide electrolysis, is being driven more by bankability and supply-chain cost and maturity than by pure technical performance. Alkaline holds the largest share, projected at around 51% of 2030 installed capacity. PEM is growing due to its modularity, scalability, and strong fit with renewable integration, but uptake is constrained by higher capex and delays or cancellations in some large renewables-linked projects. Solid oxide electrolysis is advancing through scale-up milestones. Anion exchange membrane is still emerging, with adoption limited by ongoing validation of long-term performance and bankability.

According to the IEA, China accounts for roughly 60% of global electrolyzer manufacturing capacity. This scale helps underpin Chinese manufacturers' competitive positioning, with firms such as Sungrow and LONGi extending their advantage.

By contrast, Western manufacturers are more exposed to the headwinds facing the green hydrogen market, most notably high project costs and limited offtake demand.

Electrolyzer policy is evolving from deployment support to a broader industrial strategy focused on manufacturing location and supply-chain control. Governments are increasingly using incentives and standards not only to accelerate hydrogen rollout, but also to anchor production capacity domestically.

Key Highlights

• Global low-carbon hydrogen capacity grew 34% from 2024 to 2025, with energy security increasingly driving capacity additions.
• This growth can be largely attributed to the faster build-out of blue hydrogen capacity through grey hydrogen retrofits. As a result, blue hydrogen accounts for ~76% of global active capacity.
• Green hydrogen capacity is projected to grow most rapidly between 2025 and 2030, at a 168% CAGR, based on announced projects.
• The IEA estimates current green hydrogen production costs at approximately US$3/kg to more than US$10/kg, reflecting wide variation in power prices, project utilization, and financing conditions across regions.
• GlobalData estimates, based on announced projects, that total electrolysis capacity could reach ~414GW by 2030, which remains below the IEA's 560GW 2030 benchmark required to align with its Net Zero Emissions by 2050 (NZE) scenario.

Scope

• Global low-carbon hydrogen production outlook, green hydrogen value chain, factors impacting the competitiveness of green hydrogen, Global installed electrolyzer capacity outlook, Electrolysis technology share of installed electrolyzer capacity, Leading electrolyzer manufacturers, Largest active and upcoming electrolyzer projects, Electrolyzer policies

Reasons to Buy

• Identify the market trends within low-carbon hydrogen production and electrolyzer technologies
• Assess the advantages, disadvantages, and commercial viability of electrolyzer technologies
• Understand leading companies advancing electrolyzer manufacturing
• Understand key policies targeting electrolyzer technologies