Hydrogen Electrolyzer Market is expected to reach US$ 7.06 billion by 2032 | Major Companies - John Cockerill, Plug Power Inc., Siemens Energy.

Market Size and Growth:

The Hydrogen Electrolyzer Market size 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.

The Hydrogen Electrolyzer Market refers to the global industry focused on technologies and systems that use electricity to split water into hydrogen and oxygen. It supports green hydrogen production for energy storage, transportation, industrial processes, and decarbonization efforts, driven by renewable energy adoption, climate targets, and demand for clean fuel alternatives.

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Recent Key Developments of United States:

✅ December 2025/January 2026: State-level initiatives in California and New York boosted electrolyzer adoption through renewable integration pilots. Federal policies under the Inflation Reduction Act continued driving manufacturing scale-up.

✅ November 2025: Plug Power advanced its green hydrogen projects with new electrolyzer integrations in multiple states, supported by federal tax credits. Investments in high-capacity electrolyzers grew, targeting industrial decarbonization.​

✅ October 2025: Cummins Inc. expanded its PEM electrolyzer production facility in Minnesota to double output capacity. The U.S. Department of Energy announced $1.5 billion in funding for regional clean hydrogen hubs to speed up electrolyzer deployment.​

Recent Key Developments of Japan:

✅ December 2025/January 2026: Demand for water electrolysis machines rose, with projections for market growth to USD 1,108.8 million by 2036. Key firms like Panasonic scaled PEM production amid national energy strategy updates.

✅ November 2025: Mitsubishi Power partnered on a hydrogen-ready gas turbine system with a 50MW electrolyzer integration. Government targets for 3 million tons of hydrogen supply by 2030 advanced electrolyzer tech.​

✅ October 2025: Toshiba Energy Systems & Solutions started operations at a new 100MW electrolyzer plant in Fukushima. METI launched a $2 billion subsidy for green hydrogen projects using electrolyzers.

List of the Key Players in the Hydrogen Electrolyzer Market:

thyssenkrupp nucera
John Cockerill
Nel ASA
Plug Power Inc.
Siemens Energy
Enapter S.r.l.
Cummins Inc.
ITM Power
McPhy Energy S.A.
Topsoe

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This Report Covers:

✔ Go-to-market Strategy.

✔ Neutral perspective on the market performance.

✔Development trends, competitive landscape analysis, supply side analysis, demand side analysis, year-on-year growth, competitive benchmarking, vendor identification, and other significant analysis, as well as development status.

✔Customized regional/country reports as per request and country level analysis.

✔ Potential & niche segments and regions exhibiting promising growth covered.

✔ Analysis of Market Size (historical and forecast), Total Addressable Market (TAM), Serviceable Available Market (SAM), Serviceable Obtainable Market (SOM), Market Growth, Technological Trends, Market Share, Market Dynamics, Competitive Landscape and Major Players (Innovators, Start-ups, Laggard, and Pioneer).

Segments Covered in the Hydrogen Electrolyzer Market:

By Technology: Alkaline Electrolyzer (AE), Proton Exchange Membrane (PEM), Solid Oxide Electrolyzer (SOE), Anion Exchange Membrane (AEM).

By Power Generation: Less than 500 kW, 500-2,000 kW, Greater than 2,000 kW.

By Application: Energy, Power Generation, CHP, Mobility, Industrial, Chemical, Industries, Others.

Regional Analysis:

⇥ 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)

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Chapter Outline

⏩ Market Overview: It contains five chapters, as well as information about the research scope, major manufacturers covered, market segments, Hydrogen Electrolyzer market segments, study objectives, and years considered.

⏩ Market Landscape: The competition in the Global Hydrogen Electrolyzer Market is evaluated here in terms of value, turnover, revenues, and market share by organization, as well as market rate, competitive landscape, and recent developments, transaction, growth, sale, and market shares of top companies.

⏩ Companies Profiles: The Global Hydrogen Electrolyzer market's leading players are studied based on sales, main products, gross profit margin, revenue, price, and growth production.

⏩ Market Outlook by Region: The report goes through gross margin, sales, income, supply, market share, CAGR, and market size by region in this segment. North America, Europe, Asia Pacific, Middle East & Africa, and South America are among the regions and countries studied in depth in this study.

⏩ Market Segments: It contains the deep research study which interprets how different end-user/application/type segments contribute to the Hydrogen Electrolyzer Market.

⏩ Market Forecast: Production Side: In this part of the report, the authors have focused on production and production value forecast, key producers forecast, and production and production value forecast by type.

⏩ Research Findings: This section of the report showcases the findings and analysis of the report.

⏩ Conclusion: This portion of the report is the last section of the report where the conclusion of the research study is provided.

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People Also Ask:

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