The Global Water Electrolysis Market is expected to reach USD 36 Billion by 2030, having grown significantly since 2019 at a CAGR of 23%. The market is segmented by application into hydrogen production, clean energy, energy storage, fuel cell technology, and industrial applications, with various types of electrolyzers. Technological advancements in electrolyzers and increased investment in green hydrogen are driving market growth, along with government policies promoting clean energy. However, challenges such as high energy consumption, scalability issues, and infrastructure limitations exist. Major companies including Siemens, ITM Power, and Nel ASA are playing a key role in market development. Geographically, Europe, North America, and Asia-Pacific are showing robust growth, while regions like the Middle East, Africa, and APAC are growing rapidly. The market provides opportunities for clean energy adoption and the transition to a zero-carbon energy system. The report compares notable companies' status in the market, analyzes the impact of COVID-19, and highlights key industry developments.