In India, DataM Intelligence reported that the hydrogen electrolyzer market reached $1.05 billion in 2024 and is expected to reach $7.06 billion by 2032.
The research firm noted that the market is expected to expand at a CAGR of 26.89% during the forecast period 2025-2032.
“Market growth is driven by escalating demand for green hydrogen in energy transition initiatives, supportive government policies and subsidies for clean energy infrastructure, and rapid advancements in electrolyzer technologies like PEM and alkaline systems. Expanding applications in renewable energy storage, industrial decarbonization, rising investments from oil and gas majors pivoting to hydrogen, and international collaborations for hydrogen valleys are further accelerating market expansion,” the report added.
Supportive regulations, subsidies, and national hydrogen strategies in regions like Europe, Asia-Pacific, and North America are accelerating investments and deployments, it added.
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