The electrolyzer market is experiencing substantial growth globally, with the US playing a significant role in this expansion. Electrolyzers, which split water into hydrogen and oxygen using electrical energy, are valued at USD 5.69 billion in 2022, with a projected increase to USD 181.09 billion by 2032. The market report focuses on sales volume, revenue, market share, and key players. Major players like Nel Hydrogen and Siemens are driving growth through new product development. The market is expected to be dominated by the power generation sector, supported by the rising demand for renewable energy. PEM electrolyzers are anticipated to grow rapidly due to their efficiency and low maintenance requirements. North America leads in market share, attributed to the growing demand for hydrogen in various industries.