Electrolyzer Market Growth, Share, Report to 2032

The global electrolyzer market is expected to reach USD 126.76 billion by 2032, at a CAGR of 44.7% during the forecast period 2023 to 2032. An electrolyzer is an electrochemical device that uses electricity to drive a non-spontaneous chemical reaction, typically the splitting of water into hydrogen and oxygen gases through the process of electrolysis. It consists of an electrolyte, electrodes (anode and cathode), and an external power source.