The global shift towards green hydrogen has propelled advancements in electrolyser technology, crucial for splitting water into hydrogen and oxygen. The market for electrolysers is projected to skyrocket, with a compound annual growth rate of 24.2% by 2034, reaching $5.7 billion. Traditional electrolysers faced challenges like costly membranes and rare metals, spurring innovation towards membrane-less designs and novel electrode patterns. Companies like Newtrace and Advanced Ionics are leading this wave by introducing cutting-edge solutions. Newtrace's membrane-less electrolyser simplifies systems, reduces costs, and enhances durability with transition metal electrocatalysts. Advanced Ionics' medium-temperature vapor phase electrolyser merges the best of solid oxide and alkaline electrolysers, offering high efficiency and durability. Efforts to boost efficiency include new electrode designs that control bubble formation, improving gas-evolving performance and reducing material waste. Companies like sHYp and Hysata are developing revolutionary electrolyser designs for offshore applications and industrial sectors. Despite challenges, such as scaling up production and market entry, collaborative efforts among industry players will drive the electrolyser market's evolution towards a more sustainable and cost-effective future.