In India, Precedence Research reported that the global hydrogen electrolyzer market size reached a value of $1.03 billion in 2024 and is predicted to increase from $2.03 billion in 2025 to approximately $956.99 billion by 2034, expanding at a CAGR of 98.14% from 2025 to 2034.
The growing demand for green hydrogen, favorable government policies, rising innovations in electrolyzer technology, and increasing investments in hydrogen infrastructure, particularly in emerging economies, are expected to drive the growth of the global market for hydrogen electrolyzers over the forecast period, the research firm said.
Europe dominated the global hydrogen electrolyzer market with the largest market share of 35% in 2024, it added.
Meanwhile, Asia Pacific is anticipated to grow at the fastest rate in the market during the forecast period.
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