Electrolyzers Global Market Report 2026

Electrolyzers are devices designed to utilize electricity for the purpose of separating hydrogen and oxygen molecules within water through a chemical process known as electrolysis. This process effectively generates hydrogen as a byproduct. Electrolyzers are employed in processes that involve the separation of water into its constituent elements, hydrogen and oxygen.

The primary types of electrolyzers are alkaline electrolyzers, PEM (Proton Exchange Membrane) electrolyzers, and solid oxide electrolyzers. Alkaline electrolyzers typically operate within a temperature range of 80-160 °C. Electrolyzer capacities are categorized into less than 500 kW, 500 kW to 2 MW, and above 2 MW. These electrolyzers find applications in various sectors, including power plants, steel plants, electronics and photovoltaics, industrial gases, energy storage, fueling for Fuel Cell Electric Vehicles (FCEV), power-to-gas processes, and other related applications.

Note that the outlook for this market is being affected by rapid changes in trade relations and tariffs globally. The report will be updated prior to delivery to reflect the latest status, including revised forecasts and quantified impact analysis. The report's Recommendations and Conclusions sections will be updated to give strategies for entities dealing with the fast-moving international environment.

Tariffs are impacting the electrolyzers market by increasing costs of imported membranes, catalysts, power electronics, compressors, and balance-of-plant components essential for electrolysis systems. Regions such as Europe, North America, and parts of Asia-Pacific are most affected due to dependence on specialized imported materials, particularly precious metals and advanced membranes, which has raised project capital costs. These tariffs have slowed deployment of large-scale hydrogen projects in cost-sensitive markets. However, tariffs are supporting domestic electrolyzer manufacturing, local catalyst development, and long-term supply chain resilience for green hydrogen technologies.

The electrolyzers market research report is one of a series of new reports from The Business Research Company that provides electrolyzers market statistics, including electrolyzers industry global market size, regional shares, competitors with an electrolyzers market share, detailed electrolyzers market segments, market trends and opportunities, and any further data you may need to thrive in the electrolyzers industry. This electrolyzers market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The electrolyzers market size has grown exponentially in recent years. It will grow from $0.85 billion in 2025 to $1.04 billion in 2026 at a compound annual growth rate (CAGR) of 21.5%. The growth in the historic period can be attributed to government support for hydrogen initiatives, early deployment in industrial gas production, increasing pilot green hydrogen projects, growth in renewable power generation, advancements in electrolysis technologies.

The electrolyzers market size is expected to see exponential growth in the next few years. It will grow to $2.2 billion in 2030 at a compound annual growth rate (CAGR) of 20.6%. The growth in the forecast period can be attributed to acceleration of hydrogen economy development, increasing investments in green steel and chemicals, expansion of hydrogen fueling infrastructure, declining renewable energy costs, continued innovation in high-efficiency electrolyzers. Major trends in the forecast period include scaling of green hydrogen production capacity, rising adoption of pem and solid oxide electrolyzers, integration of renewable energy with electrolysis systems, expansion of large-scale industrial hydrogen projects, enhanced focus on electrolyzer efficiency.

The growing production of green electricity is expected to drive the electrolyzer market in the coming years. Green electricity, also referred to as 'green energy' or 'clean electricity,' is generated from renewable and environmentally friendly sources. These sources are considered 'green' because they have a lower environmental impact and emit fewer greenhouse gases compared to conventional fossil fuel-based power generation. Green power supports environmental sustainability and helps reduce overall carbon emissions. Electrolyzers play a critical role in the transition to a renewable energy future by enabling efficient storage and utilization of excess electricity generated from renewable sources while supporting the production of low-carbon energy. For example, in January 2024, the U.S. Energy Information Administration, a US-based federal statistical agency, projected that U.S. solar power generation would increase by 75%, from 163 billion kWh in 2023 to 286 billion kWh by 2025. During the same period, wind power generation is expected to rise by 11%, from 430 billion kWh in 2023 to 476 billion kWh in 2025. Therefore, the expansion in green electricity production is propelling the electrolyzer market.

Key companies in the electrolyzer market are focusing on technological innovations, such as green hydrogen, to enhance efficiency, reduce carbon emissions, and support the transition to a sustainable energy ecosystem. Green hydrogen refers to hydrogen gas produced through water electrolysis powered by renewable energy sources, such as solar or wind, resulting in minimal or zero carbon emissions. For example, in September 2024, Hygreen Energy, a US-based clean energy company, launched its first anion exchange membrane (AEM) electrolyzer system. This system provides scalable, cost-effective hydrogen production solutions while promoting global adoption of clean energy technologies. The AEM electrolyzer features a modular design and high durability, allowing flexible deployment for both industrial and renewable energy applications.

In July 2025, Battolyser Systems, a Netherlands-based clean energy technology company, merged with VDL Hydrogen Systems to develop the first fully flexible industrial electrolyzer. This collaboration aims to accelerate green hydrogen production, improve the scalability and efficiency of electrolyzer technology for industrial applications, and support the transition to sustainable energy solutions. VDL Hydrogen Systems, based in the Netherlands, specializes in designing and manufacturing advanced hydrogen production and storage systems.

Major companies operating in the electrolyzers market are Nel ASA, Asahi Kasei Corporation, Hydrogenics, Siemens AG, McPhy Energy S.A., ITM Power PLC, Erredue SpA, Enapter, Next Hydrogen Solutions Inc., Tianjin Continental Hydrogen Equipment Co. Ltd., Plug Power Inc., H-TEC SYSTEMS GmbH, Hysata Pty. Ltd., SunGreenH2, Hydrogen Pro, Iberlyzer, Bloom Energy, Cummins Inc., Green Hydrogen Systems A/S, Topsoe A/S, John Cockerill, LONGi Green Energy Technology Co. Ltd., Ohmium International Inc., Sunfire GmbH, Sungrow Power Supply Co. Ltd., thyssenkrupp nucera AG & Co KGaA

Western Europe was the largest region in the electrolyzers market in 2025. Asia-Pacific is expected to be the fastest-growing region in the electrolyzers market during the forecast period. The regions covered in the electrolyzers market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

The countries covered in the electrolyzers market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The electrolyzes market consists of sales of direct methanol fuel cell, solid oxide fuel cells (SOFC). Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

Electrolyzers Market Global Report 2026 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses electrolyzers market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

Reasons to Purchase

• Gain a truly global perspective with the most comprehensive report available on this market covering 16 geographies.
• Assess the impact of key macro factors such as geopolitical conflicts, trade policies and tariffs, inflation and interest rate fluctuations, and evolving regulatory landscapes.
• Create regional and country strategies on the basis of local data and analysis.
• Identify growth segments for investment.
• Outperform competitors using forecast data and the drivers and trends shaping the market.
• Understand customers based on end user analysis.
• Benchmark performance against key competitors based on market share, innovation, and brand strength.
• Evaluate the total addressable market (TAM) and market attractiveness scoring to measure market potential.
• Suitable for supporting your internal and external presentations with reliable high-quality data and analysis
• Report will be updated with the latest data and delivered to you within 2-3 working days of order along with an Excel data sheet for easy data extraction and analysis.
• All data from the report will also be delivered in an excel dashboard format.

Where is the largest and fastest growing market for electrolyzers ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward, including technological disruption, regulatory shifts, and changing consumer preferences? The electrolyzers market global report from the Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, total addressable market (TAM), market attractiveness score (MAS), competitive landscape, market shares, company scoring matrix, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

• The market characteristics section of the report defines and explains the market. This section also examines key products and services offered in the market, evaluates brand-level differentiation, compares product features, and highlights major innovation and product development trends.
• The supply chain analysis section provides an overview of the entire value chain, including key raw materials, resources, and supplier analysis. It also provides a list competitor at each level of the supply chain.
• The updated trends and strategies section analyses the shape of the market as it evolves and highlights emerging technology trends such as digital transformation, automation, sustainability initiatives, and AI-driven innovation. It suggests how companies can leverage these advancements to strengthen their market position and achieve competitive differentiation.
• The regulatory and investment landscape section provides an overview of the key regulatory frameworks, regularity bodies, associations, and government policies influencing the market. It also examines major investment flows, incentives, and funding trends shaping industry growth and innovation.
• The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
• The forecasts are made after considering the major factors currently impacting the market. These include the technological advancements such as AI and automation, Russia-Ukraine war, trade tariffs (government-imposed import/export duties), elevated inflation and interest rates.
• The total addressable market (TAM) analysis section defines and estimates the market potential compares it with the current market size, and provides strategic insights and growth opportunities based on this evaluation.
• The market attractiveness scoring section evaluates the market based on a quantitative scoring framework that considers growth potential, competitive dynamics, strategic fit, and risk profile. It also provides interpretive insights and strategic implications for decision-makers.
• Market segmentations break down the market into sub markets.
• The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth.
• Expanded geographical coverage includes Taiwan and Southeast Asia, reflecting recent supply chain realignments and manufacturing shifts in the region. This section analyzes how these markets are becoming increasingly important hubs in the global value chain.
• The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
• The company scoring matrix section evaluates and ranks leading companies based on a multi-parameter framework that includes market share or revenues, product innovation, and brand recognition.

Scope

• Markets Covered:1) By Product: Alkaline Electrolyzer; PEM Electrolyzer; Solid Oxide Electrolyzers
• 2) By Capacity: Less than 500 kW; 500 kW to 2 MW; Above 2 MW
• 3) By Application: Power Plants; Steel Plants; Electronics And Photovoltaics; Industrial Gases; Energy Storage or Fueling for FCEV's; Power to Gas; Other Applications
• Subsegments:
• 1) By Alkaline Electrolyzer: Pressurized Alkaline Electrolyzers; Atmospheric Alkaline Electrolyzers
• 2) By PEM (Proton Exchange Membrane) Electrolyzer: Standard PEM Electrolyzers; High-Temperature PEM Electrolyzers
• 3) By Solid Oxide Electrolyzers: Planar Solid Oxide Electrolyzers; Tubular Solid Oxide Electrolyzers
• Companies Mentioned: Nel ASA; Asahi Kasei Corporation; Hydrogenics; Siemens AG; McPhy Energy S.A.; ITM Power PLC; Erredue SpA; Enapter; Next Hydrogen Solutions Inc.; Tianjin Continental Hydrogen Equipment Co. Ltd.; Plug Power Inc.; H-TEC SYSTEMS GmbH; Hysata Pty. Ltd.; SunGreenH2; Hydrogen Pro; Iberlyzer; Bloom Energy; Cummins Inc.; Green Hydrogen Systems A/S; Topsoe A/S; John Cockerill; LONGi Green Energy Technology Co. Ltd.; Ohmium International Inc.; Sunfire GmbH; Sungrow Power Supply Co. Ltd.; thyssenkrupp nucera AG & Co KGaA
• Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Taiwan; Russia; South Korea; UK; USA; Canada; Italy; Spain.
• Regions: Asia-Pacific; South East Asia; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
• Time Series: Five years historic and ten years forecast.
• Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
• Data Segmentations: country and regional historic and forecast data, market share of competitors, market segments.
• Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
• Delivery Format: Word, PDF or Interactive Report
• + Excel Dashboard
• Added Benefits
• Bi-Annual Data Update
• Customisation
• Expert Consultant Support

Added Benefits available all on all list-price licence purchases, to be claimed at time of purchase. Customisations within report scope and limited to 20% of content and consultant support time limited to 8 hours.