Australia's national science agency, CSIRO, has released a report indicating the potential for Australia to develop a green hydrogen electrolyser industry worth $2.9 billion. The report highlights the opportunities for local companies to establish their own electrolyser technologies, with forecasts suggesting significant revenue growth if strong support for local procurement is rallied. Despite the challenges faced by electrolyser manufacturers globally, the report emphasizes that there is still a window of opportunity for new entrants to influence the market. The report outlines three potential scenarios for Australia's electrolyser industry, ranging from a modest market opportunity of $282 million under the low scenario to a substantial $5.5 billion if policymakers establish a supportive industrial policy framework. Dr. Patrick Hartley, leader of CSIRO's Hydrogen Industry Mission, stresses the importance of securing opportunities in the global and domestic supply chain for Australian companies. However, the global electrolyser market is experiencing overcapacity issues, with more supply than demand. This has led to fierce competition, especially from Chinese and Indian companies, as they invest heavily in dominating the industry. The report warns of potential consolidation in the electrolyser market, with many companies facing financial challenges. Despite the global challenges, Australia's strengths in research, innovation, and raw materials provide a strong foundation for the development of a competitive electrolyser supply chain. The report encourages local companies to consider servicing the domestic market or partnering with global firms to scale up their technologies. Overall, while the global electrolyser market faces uncertainties, Australia's proactive approach to green hydrogen presents significant economic potential and job creation opportunities.