In India, DataM intelligence 4 Market Research reported that the global hydrogen electrolyzer market reached $1.05 billion in 2024 and is expected to reach $7.06 billion by 2032, growing with a CAGR of 26.89% during the forecast period 2025-2032.
The research firm explained that 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.
“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,” the report stated.
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