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Electrolyzers Global Market Forecasts 2025-2031 with Thyssenkrupp Nucera, Siemens Energy, Nel, Cummins, Plug Power, LONGi, Asahi Kasei Dominating

globenewswire.com
DOO Cummins Inc. is mentioned as a prominent player in the global electrolyzers market, which is projected for substantial growth. The article does not provide specific sentiment towards Cummins but places it within a growing industry. PLUG Plug Power Inc. is listed as a prominent player in the expanding global electrolyzers market. The article highlights the overall market growth but does not offer specific sentiment or performance indicators for Plug Power itself.

Dublin, Feb. 25, 2026 (GLOBE NEWSWIRE) -- The "Electrolyzers Market, by Technology, Power Rating, Application, Component, and Region - Global Forecast to 2031" has been added to ResearchAndMarkets.com's offering.

The global electrolyzers market is set for substantial growth, projected to rise from USD 2.08 billion in 2025 to USD 14.48 billion by 2031, registering a CAGR of 38.2%

The report includes detailed insights into key market drivers, restraints, challenges, and opportunities influencing electrolyzer market growth. A thorough analysis of key industry players provides insights into business overviews, solutions, and strategies, such as contracts, partnerships, expansions, and collaborations. The report also highlights recent market development and offers competitive analysis of emerging startups in the electrolyzers market ecosystem.

This growth is fuelled by the expanding renewable energy infrastructure, industrial decarbonization efforts, and clean mobility initiatives, which increasingly leverage electrolyzers for sustainable hydrogen production.

Electrolyzers are pivotal in supplying green hydrogen to critical industries such as chemicals, steel, refineries, and power generation, reducing emissions and maintaining operational continuity. Driven by government initiatives promoting renewable energy integration, net-zero objectives, and energy security, the adoption of electrolyzers is accelerating within industrial, utility, mobility, and commercial sectors.

Prominent players in the electrolyzers market include thyssenkrupp nucera (Germany), Siemens Energy (Germany), Nel (Norway), Cummins Inc. (US), Plug Power Inc. (US), LONGi (China), Asahi Kasei Corporation (Japan), and others. This report features an in-depth competitive analysis of these entities, showcasing their profiles, recent developments, and strategic market approaches.

< 500 KW Segment, by Power Rating, to Record Highest CAGR from 2025 to 2031

Electrolyzers with power ratings < 500 kW are expected to experience the highest CAGR due to their versatile applicability in small-scale and decentralized hydrogen production. These systems are essential in hydrogen refueling stations, small industrial setups, and community energy storage. Their affordability, ease of installation, and capacity to support localized hydrogen production boost their appeal, particularly in regions lacking substantial hydrogen infrastructure. Increasing demand for on-site hydrogen generation in renewable energy projects and mobility applications further propels this segment's growth.

Anion Exchange Membrane (AEM) Electrolyzers, by Technology, to Record Highest CAGR from 2025 to 2031

AEM electrolyzers are forecasted to achieve the highest CAGR due to their cost-effective hydrogen production capabilities without the necessity for expensive precious metal catalysts. AEM systems offer a balance of efficiency and compact design, facilitating their integration with renewable energy for on-site hydrogen generation, appealing to industries and governments aiming for lower-cost, sustainable, green hydrogen solutions.

Asia Pacific to account for largest share of electrolyzers market in 2031

The Asia Pacific region is anticipated to be a significant growth catalyst for the electrolyzers market, fueled by expanding renewable capacity, national hydrogen initiatives, and rising domestic manufacturing investment. Countries like China, India, Japan, South Korea, and Australia are developing large-scale hydrogen hubs that integrate electrolysis with ammonia synthesis and export infrastructure. The emphasis on energy security, industrial competitiveness, and clean mobility adoption is driving project development. Public-private partnerships, local production incentives, and declining costs in solar and wind technologies accelerate electrolyzer deployment in this region.

Key Benefits of Buying the Report:

Key Attributes:

Market Dynamics

Drivers

Restraints

Opportunities

Challenges

Case Studies

Company Profiles

For more information about this report visit https://www.researchandmarkets.com/r/y46fhl

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