Norwegian electrolyzer manufacturer Nel is optimistic about the future of global electrolysis capacity, expecting significant growth by 2025. The company foresees a surge in decisions for multiple gigawatts of electrolysis capacity, particularly driven by industrial applications in well-established markets. Nel also predicts that large electrolyzer installations combined with new renewable energy sources will play a crucial role in the green hydrogen sector's expansion. However, the company cautions that the current economic environment, characterized by high interest rates and increasing raw material prices, is posing challenges to the affordability of new renewable energy projects. Despite this, the majority of current hydrogen demand continues to originate from industries like fertilizers and refining. Nel's insights suggest a positive outlook for the hydrogen market, emphasizing the importance of addressing cost-related obstacles to further accelerate the adoption of green hydrogen technologies.