The global alkaline electrolyser market revenue is projected to rise from 320 Million in 2020 to 1,950 Million by 2035, with accelerated growth post-2025 due to policy tailwinds and industrial investment. 2025 marks a pivotal year with significant capacity expansions and new project pipelines. As adoption moves beyond traditional markets in Europe and Asia-Pacific, increased activity in North America and emerging economies will further drive scalable growth.
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Power generation leads applications for alkaline electrolysers in 2025, accounting for 42% of market share, driven largely by grid stabilization and renewable integration projects. Industrial gases, particularly for chemical and fertilizer manufacturing, represent 30%, while transportation, such as hydrogen fueling infrastructure, holds 18%. Emerging applications including energy storage and chemical processing make up the remaining 10%. The proliferation of renewable-backed electrolysis for grid balancing and energy storage is expected to further boost the market share in the power generation segment.
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Who are the key players in Global Alkaline Electrolyser Market industry?
The top five players in the global alkaline electrolyser market include Nel ASA, Thyssenkrupp AG, Asahi Kasei Corporation, Cummins Inc., and Hydrogenics (now part of Cummins). These companies are recognized for their technological leadership, broad portfolios, and extensive project deployments across regions supporting large-scale green hydrogen production.
What is the Global Alkaline Electrolyser Market growth?
The Global Alkaline Electrolyser Market is experiencing rapid growth, driven by rising investments in green hydrogen production. For instance, in 2023, Thyssenkrupp AG announced new project expansions, supporting an expected market CAGR of over 24% from 2023 to 2028, fueled by decarbonization initiatives worldwide.
Which segment accounted for the largest Global Alkaline Electrolyser Market share?
The industrial segment dominates the Global Alkaline Electrolyser Market, with major applications in chemicals, refineries, and steel manufacturing. The demand for green hydrogen for ammonia and methanol production is especially strong, as many companies pivot to low-carbon processes in line with evolving environmental regulations.
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