United States Hydrogen Electrolyzer Market 2025 | Explore High-Growth Trends, Competitive Landscape, Expansion & Investment Opportunities

Market Size and Growth

Hydrogen Electrolyzer Market reached US$ 1.05 billion in 2024 and is expected to reach US$ 7.06 billion by 2032, growing with a CAGR of 26.89% during the forecast period 2025-2032.

Key Development:

United States: Recent Industry Developments

✅ In July 2025, Plug Power commissioned its 100 MW PEM electrolyzer plant in New York. The facility will produce up to 45 tons of green hydrogen daily, supporting heavy transport and industrial decarbonization. It is one of the largest operational electrolyzer installations in the U.S.

✅ In June 2025, Cummins Inc. announced the delivery of a 50 MW electrolyzer system to a Texas-based renewable hydrogen hub. The project integrates solar power for direct hydrogen generation. Commercial operations are expected by Q1 2026.

✅ In May 2025, Air Products partnered with AES Corporation to develop a 200 MW electrolyzer facility in North Texas. The project aims to supply green hydrogen for ammonia production and fuel cell applications. It represents a $4 billion joint investment in clean energy infrastructure.

Japan: Recent Industry Developments

✅ In July 2025, Toshiba Energy Systems began operations of its 20 MW alkaline electrolyzer at a hydrogen production site in Fukushima. The plant uses surplus renewable energy from local solar and wind farms. It will supply hydrogen for fuel cell vehicles and power generation.

✅ In June 2025, Kawasaki Heavy Industries unveiled a high-efficiency solid oxide electrolyzer cell (SOEC) system. The technology targets reduced electricity consumption for industrial hydrogen production. Pilot testing is underway with major steel manufacturers.

✅ In May 2025, Mitsubishi Power partnered with Chiyoda Corporation to integrate large-scale electrolyzers with offshore wind projects. The goal is to produce green hydrogen for export under Japan's clean energy diplomacy strategy.

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Hydrogen Electrolyzers are devices that produce hydrogen gas by splitting water into hydrogen and oxygen using electricity through the process of electrolysis. They enable green hydrogen production when powered by renewable energy, supporting clean energy solutions, decarbonization of industries, and sustainable fuel applications.

Recent Mergers and acquisitions:

United States: Recent M&A Developments

✅ In September 2025, Electric Hydrogen, a U.S.-based electrolyzer manufacturer, acquired hydrogen developer Ambient Fuels. The deal, backed by $400 million from Generate Capital, aims to finance global projects utilizing zero-carbon hydrogen solutions. This merger reflects a broader trend of consolidation in the hydrogen industry as it adapts to evolving market demands.

✅ In August 2025, REFIRE, a Chinese hydrogen technology company, acquired a 30% stake in a hydrogen electrolyzer firm previously backed by Cummins. This acquisition follows Cummins' exit from its Chinese electrolyzer joint venture, allowing REFIRE to strengthen its position in proton exchange membrane (PEM) technology and expand its presence in the hydrogen sector.

Japan: Recent M&A Developments

✅ In April 2025, John Cockerill, a Belgian industrial engineering company, expressed interest in acquiring the operations of French electrolyzer manufacturer McPhy Energy. This potential acquisition, facilitated through the Belfort court, comes after McPhy's CEO stepped down amidst financial challenges. The acquisition aims to bolster John Cockerill's capabilities in the hydrogen sector.

Europe: Recent M&A Developments
✅ In September 2025, thyssenkrupp nucera finalized the acquisition of key technology assets from the insolvent Danish company Green Hydrogen Systems. This strategic move strengthens thyssenkrupp nucera's position in alkaline water electrolysis technology and expands its capabilities in the green hydrogen market.

✅ In August 2025, Dutch companies Battolyser Systems and VDL Hydrogen Systems announced their merger, expected to take effect in Q4 2025. The merger aims to combine Battolyser's focus on flexible, pressurized alkaline electrolysis with VDL's emphasis on high-capacity systems, enhancing their ability to deliver low-cost hydrogen at scale for industries like e-fuels, steel, and energy grids.

Key Players:

-> thyssenkrupp nucera, John Cockerill, Nel ASA, Plug Power Inc., Siemens Energy, Enapter S.r.l., Cummins Inc., ITM Power, McPhy Energy S.A., Topsoe and among others.

Growth Forecast Projected:

The Global Hydrogen Electrolyzer Market is anticipated to rise at a considerable rate during the forecast period, between 2024 and 2031. In 2023, the market is growing at a steady rate, and with the rising adoption of strategies by key players, the market is expected to rise over the projected horizon.

Research Process:

Both primary and secondary data sources have been used in the global Hydrogen Electrolyzer Market research report. During the research process, a wide range of industry-affecting factors are examined, including governmental regulations, market conditions, competitive levels, historical data, market situation, technological advancements, upcoming developments, in related businesses, as well as market volatility, prospects, potential barriers, and challenges.

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Key Segments:

➥ By Technology: Alkaline Electrolyzer (AE), Proton Exchange Membrane (PEM), Solid Oxide Electrolyzer (SOE), Anion Exchange Membrane (AEM)
➥ By Power Generation: 2,000 kW
➥ By Application: Energy, Power Generation, CHP, Mobility, Industrial, Chemical Industries, Others

Regional Analysis for Hydrogen Electrolyzer Market:

⇥ North America (U.S., Canada, Mexico)

⇥ Europe (U.K., Italy, Germany, Russia, France, Spain, The Netherlands and Rest of Europe)

⇥ Asia-Pacific (India, Japan, China, South Korea, Australia, Indonesia Rest of Asia Pacific)

⇥ South America (Colombia, Brazil, Argentina, Rest of South America)

⇥ Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)

Benefits of the Report:

Chapter 1: Sets the stage by outlining the report's coverage, summarizing key market segments by region, product type, and application. Presents a snapshot of market sizes, growth potential across segments, and anticipated industry evolution both short and long term.

Chapter 2: Highlights pivotal market insights and uncovers the most significant emerging trends driving change within the industry.

Chapter 3: Offers an in-depth look at the competitive landscape among Hydrogen Electrolyzer producers, including revenue shares, strategic moves, and recent mergers and acquisitions.

Chapter 4: Presents comprehensive profiles of the market's key players, delving into details such as revenue, profit margins, product portfolios, and company milestones.

Chapters 5 & 6: Analyze Hydrogen Electrolyzer revenue at both regional and country levels, providing quantitative breakdowns of market sizes, growth opportunities, and development prospects worldwide.

Chapter 7: Focuses on different market segments by type, examining their individual sizes and potential, guiding readers toward high-impact, untapped market areas.

Chapter 8: Explores segmentation by application, evaluating industry growth potential in various downstream markets and pinpointing promising sectors for expansion.

Chapter 9: Provides a thorough review of the industry's supply chain mapping out both upstream and downstream activities.

Chapter 10: Concludes with a summary of the report's key findings and highlights the most critical takeaways for industry stakeholders.

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FAQ

What is the current size of the Hydrogen Electrolyzer Market?

A: In 2024, the Hydrogen Electrolyzer Market was valued at US$ 1.05 billion, reflecting its strong industry presence.

Q2: How large is the Hydrogen Electrolyzer Market expected to be by 2032?

A: By 2032, industry forecasts suggest the Hydrogen Electrolyzer Market will grow to around US$ 7.06 billion , demonstrating significant expansion.

Q3: What is the growth rate of the Hydrogen Electrolyzer Market?

A: The market is projected to expand at a compound annual growth rate (CAGR) of 26.89% during the forecast period from 2025 to 2032.

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