Electrolyzer market outlook: technology, costs and global manufacturing capacity

Electrolyzer market outlook showing cumulative capacity and annual installations 2019 to 2025 by technology

The electrolyzer market outlook shows rapid industrial expansion colliding with slower-than-expected demand growth. As of mid-2025, around 2.15 GW of electrolyzer capacity was operational globally, with nearly 20 GW including projects under construction or at FID. Yet global manufacturing capacity has surged to 61 GW per year, creating significant overcapacity and triggering sector consolidation. Alkaline (ALK) technology continues to dominate […]

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