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Water Electrolysis Market - Global Forecast 2025-2032

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    Report

  • 184 Pages
  • October 2025
  • Region: Global
  • 360iResearch™
  • ID: 5924899
UP TO OFF until Jan 01st 2026
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The water electrolysis market stands at the center of industrial decarbonization and hydrogen adoption strategies. As companies accelerate transitions to cleaner energy solutions, water electrolysis is increasingly recognized by senior decision-makers as an enabling technology for sustainable operations and strategic growth.

Market Snapshot: Water Electrolysis Market Size and Growth

The global water electrolysis market is experiencing steady expansion, progressing from USD 6.77 billion in 2024 to USD 7.26 billion in 2025. This growth reflects a CAGR of 7.60%, highlighting broad market confidence and a robust outlook for adoption. Key drivers include increasing investment in renewable energy infrastructure, comprehensive government incentives, and supportive decarbonization policies. Both public and private sectors are accelerating hydrogen integration in energy, chemicals, and transportation, complemented by strengthened partnerships and ongoing improvements in technological infrastructure. Organizations across multiple sectors are leveraging these dynamics to transition business models, reduce reliance on fossil fuels, and advance sustainability targets.

Scope & Segmentation of the Water Electrolysis Market

This report provides senior leadership with reliable, segmented analysis to guide procurement, innovation priorities, and investment decisions in the water electrolysis market. Strategic segmentation underscores vital opportunities for growth and operational improvement.

  • Technology Type: Analysis covers alkaline, proton exchange membrane (PEM), and solid oxide systems. Alkaline and PEM technologies deliver adaptability, supporting both large-scale industrial projects and flexible distributed energy schemes, while solid oxide technology is tailored for high-temperature and advanced manufacturing settings.
  • Capacity: Examines system deployment by scale, including large, medium, and small configurations. Segmentation here enables optimal matching of solutions to diverse project scopes, ranging from distributed energy assets to major utility-centric facilities.
  • Components: Reviews essential subsystems such as electrodes, electrolyte solutions, and power supply units. Ongoing enhancements in these elements promote reliability and extended system lifespan, contributing to sector-wide performance improvements.
  • End-User: Explores market uptake among chemical manufacturers, refineries, pharmaceutical and biotechnology organizations, and broader energy sectors. Each segment adopts electrolysis for increased operational efficiency and regulatory compliance.
  • Regions: Assesses market trends, policy frameworks, and infrastructure readiness across the Americas, Europe, Middle East & Africa, and Asia-Pacific. This regional breakdown informs differentiated market entry, investment, and partnership approaches.
  • Companies Profiled: Evaluation includes market leaders such as Air Products and Chemicals, Inc., Asahi Kasei Corporation, Bloom Energy Corporation, Cummins Inc., Enagic Co., Ltd., Enapter S.r.l., and other innovators. The analysis assists executives in benchmarking and identifying shifts in technological leadership.

Key Takeaways for Senior Leaders

  • Water electrolysis underpins efforts to decarbonize industrial and manufacturing processes, supporting the transition to low-emission operations across multiple sectors.
  • Alkaline and PEM technologies suit a wide variety of project needs, providing seamless integration with existing and emerging energy infrastructure, while solid oxide systems are designed for demanding environments prioritizing process efficiency.
  • Recent technological progress in electrodes and electrolytes is increasing system reliability and longevity, facilitating ongoing compliance with evolving safety and performance standards.
  • Industry-wide collaboration, encompassing technology providers, utilities, and end users, is accelerating business model development and strengthening links to broader clean energy infrastructure.
  • Regional disparities in policy, resource allocation, and maturity of supporting infrastructure require custom approaches to market development, partnerships, and capital allocation to manage risk and capture opportunity.
  • Flexible, modular, and stackable designs enable diverse deployment scenarios, addressing both on-grid and off-grid applications and supporting scalable growth strategies.

United States Tariff Impact

Recent tariff adjustments on electrolyzer components have shifted U.S. manufacturers toward domestic production and heightened local sourcing. Executives must now navigate changing supply chain dynamics, ensuring project reliability and adherence to regulatory requirements in the water electrolysis sector.

Methodology & Data Sources

The analysis synthesized in this report draws from primary interviews with C-suite and research leaders, supplemented by peer-reviewed studies and validated regulatory reports. This method builds a robust evidence base for industry-specific decision-making.

Why This Report Matters: Water Electrolysis Market

  • Enables effective strategic planning by aligning analysis with leadership priorities in hydrogen and energy transformation.
  • Clarifies international trends shaping procurement, supply chain strategies, and regulatory compliance efforts, strengthening market positioning.
  • Supports identification of actionable growth pathways by technology, industry segment, and region, providing a comprehensive basis for competitive and compliant operations.

Conclusion

Executives seeking reliable, actionable insight into the water electrolysis market will gain targeted guidance from this report. Leverage these findings to strengthen strategy and capture emerging value in clean hydrogen markets.

 

Additional Product Information:

  • Purchase of this report includes 1 year online access with quarterly updates.
  • This report can be updated on request. Please contact our Customer Experience team using the Ask a Question widget on our website.

Table of Contents

1. Preface
1.1. Objectives of the Study
1.2. Market Segmentation & Coverage
1.3. Years Considered for the Study
1.4. Currency & Pricing
1.5. Language
1.6. Stakeholders
2. Research Methodology
3. Executive Summary
4. Market Overview
5. Market Insights
5.1. Integration of proton exchange membrane electrolyzers into offshore wind farms for green hydrogen production
5.2. Development of advanced anion exchange membrane materials to reduce electrolyzer capital costs
5.3. Scaling of solid oxide electrolyzer stacks for industrial hydrogen manufacturing with high efficiency
5.4. Implementation of AI-driven process controls to optimize electrolyzer performance under variable loads
5.5. Collaboration between energy utilities and electrolyzer OEMs to establish hydrogen refueling infrastructure
5.6. Use of circular water sourcing and recycling systems to improve sustainability in electrolyzer operations
5.7. Introduction of modular electrolyzer container solutions for distributed hydrogen generation in remote areas
5.8. Advancements in catalyst coatings to enhance oxygen evolution reaction rates and reduce degradation
5.9. Commercialization of high-pressure electrolyzers enabling direct injection into steel decarbonization processes
6. Cumulative Impact of United States Tariffs 2025
7. Cumulative Impact of Artificial Intelligence 2025
8. Water Electrolysis Market, by Technology Type
8.1. Alkaline Water Electrolysis
8.2. Proton Exchange Membrane Water Electrolysis
8.3. Solid Oxide Water Electrolysis
9. Water Electrolysis Market, by Capacity
9.1. Large Scale
9.2. Medium Scale
9.3. Small Scale
10. Water Electrolysis Market, by Components
10.1. Electrodes
10.2. Electrolyte
10.3. External Power Source
11. Water Electrolysis Market, by End-User
11.1. Chemical Production
11.2. Petroleum Industry
11.3. Pharmaceutical & Biotechnology
11.4. Power & Energy
12. Water Electrolysis Market, by Region
12.1. Americas
12.1.1. North America
12.1.2. Latin America
12.2. Europe, Middle East & Africa
12.2.1. Europe
12.2.2. Middle East
12.2.3. Africa
12.3. Asia-Pacific
13. Water Electrolysis Market, by Group
13.1. ASEAN
13.2. GCC
13.3. European Union
13.4. BRICS
13.5. G7
13.6. NATO
14. Water Electrolysis Market, by Country
14.1. United States
14.2. Canada
14.3. Mexico
14.4. Brazil
14.5. United Kingdom
14.6. Germany
14.7. France
14.8. Russia
14.9. Italy
14.10. Spain
14.11. China
14.12. India
14.13. Japan
14.14. Australia
14.15. South Korea
15. Competitive Landscape
15.1. Market Share Analysis, 2024
15.2. FPNV Positioning Matrix, 2024
15.3. Competitive Analysis
15.3.1. Air Products and Chemicals, Inc.
15.3.2. Asahi Kasei Corporation
15.3.3. Bloom Energy Corporation
15.3.4. Cummins Inc.
15.3.5. Enagic Co., Ltd.
15.3.6. Enapter S.r.l.
15.3.7. Giner Inc.
15.3.8. GreenH Electrolysis
15.3.9. H2Pro Ltd.
15.3.10. Haldor Topsoe A/S
15.3.11. HydrogenPro ASA
15.3.12. HyGear B.V.
15.3.13. ITM Power PLC
15.3.14. John Cockerill S.A.
15.3.15. Kanadevia Corporation
15.3.16. Kawasaki Heavy Industries, Ltd.
15.3.17. Linde PLC
15.3.18. McPhy Energy S.A.
15.3.19. Mitsubishi Heavy Industries, Ltd.
15.3.20. Nel ASA
15.3.21. Ohmium International, Inc.
15.3.22. Plug Power Inc.
15.3.23. Siemens AG
15.3.24. Sunfire AG
15.3.25. Teledyne Technologies Incorporated
15.3.26. thyssenkrupp Uhde GmbH.
15.3.27. Toshiba Corporation
15.3.28. Toyota Motor Corporation

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Companies Mentioned

The key companies profiled in this Water Electrolysis market report include:
  • Air Products and Chemicals, Inc.
  • Asahi Kasei Corporation
  • Bloom Energy Corporation
  • Cummins Inc.
  • Enagic Co., Ltd.
  • Enapter S.r.l.
  • Giner Inc.
  • GreenH Electrolysis
  • H2Pro Ltd.
  • Haldor Topsoe A/S
  • HydrogenPro ASA
  • HyGear B.V.
  • ITM Power PLC
  • John Cockerill S.A.
  • Kanadevia Corporation
  • Kawasaki Heavy Industries, Ltd.
  • Linde PLC
  • McPhy Energy S.A.
  • Mitsubishi Heavy Industries, Ltd.
  • Nel ASA
  • Ohmium International, Inc.
  • Plug Power Inc.
  • Siemens AG
  • Sunfire AG
  • Teledyne Technologies Incorporated
  • thyssenkrupp Uhde GmbH.
  • Toshiba Corporation
  • Toyota Motor Corporation

Table Information