The global electrolyzers market is experiencing significant growth, set to reach $4.27 billion by 2030 with a CAGR of 21.2%. This growth is fueled by the rising adoption of renewable and nuclear technologies for electricity generation and increasing investments in green energy initiatives. Governmental focus on hydrogen technologies is acting as a catalyst, solidifying hydrogen's role in the transition to sustainable energy. Key industry players include companies like Plug Power Inc., CUMMINS INC., and ITM Power PLC, actively involved in research and development to enhance their market positions. The market drivers include the global shift towards renewable energy sources, with green hydrogen gaining traction across industries like transportation and power generation. Governments worldwide are supporting hydrogen as a clean energy carrier through investments in infrastructure and incentives for companies adopting hydrogen technologies. Despite challenges like raw material shortages and high energy requirements, advancements in technology and cost reductions are making electrolyzers more accessible. Market segmentation by type, capacity, and application provides insights into the dominance of alkaline electrolyzers, the growing adoption of large-scale electrolyzers exceeding 2 MW, and the significant market share held by industrial applications. Geographically, the Asia-Pacific region leads in the electrolyzers market, showcasing promising growth prospects in the global transition to sustainable energy.