Top Electrolyzer Companies

The global Electrolyzer market is expected to be boosted by rising demand for hydrogen production and expansion of renewable energy capacity. Electrolyzers are essential for producing hydrogen using renewable electricity. As countries adopt hydrogen roadmaps and net-zero targets, large-scale electrolyzer installations are accelerating. Electrolyzers enable energy storage and grid balancing by transforming intermittent renewable power into usable fuel.

Industry Overview

According to SkyQuest Technology “Electrolyzer Market By Type (Alkaline Electrolyzer, Proton Exchange Membrane (PEM) Electrolyzer, Solid Oxide Electrolyzer (SOE), By Capacity, By Application, By End-Use Industry, By Region - Industry Forecast 2025-2032,” Global Electrolyzer market is projected to grow at a CAGR of over 20.4% by 2032, as emphasis on decarbonization of industries rises. Hard-to-abate sectors such as steel, chemicals, refining, and fertilizers are adopting hydrogen to reduce carbon emissions. Electrolyzers provide clean hydrogen alternatives to fossil-based production methods. Corporate sustainability commitments and carbon pricing policies push industries to invest in low-emission technologies.

Top 10 Global Electrolyzer Companies

1. BPCL

Based in India, the company is a state-owned organization known for oil refining and distribution. In recent years, BPCL has strategically expanded into green hydrogen production, using alkaline electrolysis technology to produce hydrogen with renewable power at its Bina Refinery, significantly cutting carbon emissions. The company is actively collaborating and working with other institutions to innovate and advanced electrolyzers.

2. Nel ASA

Nel ASA is a Norwegian electrolyzer technology pioneer with nearly a century of hydrogen experience. The company designs, manufactures, and supplies both alkaline and PEM electrolyzer systems. Its global sales ecosystem includes large refuelling and industrial hydrogen projects and it continues investing in R&D to enhance efficiency and lower hydrogen production costs as emphasis on sustainability rises. The company’s solutions are used extensively for hydrogen production in industrial, mobility, and energy sectors.

3. GAIL Limited

GAIL (Gas Authority of India Limited) is India’s premier natural gas company advancing into green hydrogen by deploying electrolyzer systems for hydrogen production and blending with existing gas networks. In partnership with Accelera (a Cummins business segment), GAIL commissioned a 10 MW PEM electrolyzer plant that produces green hydrogen for industrial use. The company’s commitment to sustainable hydrogen production makes it a key name in the electrolyzer business.

4.Ohmium International

Ohmium International is a US-based green hydrogen technology provider focused on modular, scalable PEM electrolyzers that rapidly pair with renewable energy sources. The company’s innovative design emphasizes compact, interlocking stacks that reduce installation and operational costs while enabling high-efficiency hydrogen production. Ohmium has been selected under India’s SIGHT incentive scheme to accelerate electrolyzer manufacturing and deployment.

5. ITM Power

ITM Power is a UK leader in PEM electrolyzer technology, developing hydrogen production solutions that integrate with renewable power generation. Its high-pressure, efficient PEM systems serve transportation refueling stations, industrial hydrogen supply, and energy storage markets. ITM’s strategic partnerships with energy utilities and project developers reinforce its leadership in the electrolyzer industry.

6. Cummins

Cummins, traditionally known for engines and power systems, has diversified into hydrogen with its Accelera™ brand, providing advanced electrolyzer solutions. Leveraging decades of engineering expertise, Cummins delivers both PEM and alkaline electrolyzers for green hydrogen production. Cummins continues to broaden its hydrogen portfolio with integrated systems that support hydrogen fueling infrastructure.

7. Siemens Energy

Siemens Energy, a global energy technology leader, develops high-efficiency PEM electrolyzers integrated with power systems and renewable infrastructure. Its electrolyzer solutions are tailored for grid-connected and industrial hydrogen production, enabling utilities and energy producers to leverage excess renewable generation for hydrogen. Emphasis on reduction of carbon emissions in value chains is helping boost sales of electrolyzer via Siemens.

8. Thyssenkrupp Nucera

Thyssenkrupp Nucera, born from the established engineering group, specializes in large-scale alkaline electrolyzer plants and EPC services for green hydrogen infrastructure. The company has been selected to supply gigawatt-scale electrolysis capacities for industrial and energy projects, demonstrating its expertise in delivering high-volume hydrogen production systems. Nucera is expanding its international presence, particularly in emerging markets like India.

9. Plug Power

Plug Power is an American provider of hydrogen fuel cell and electrolyzer technologies that enable clean energy ecosystems. Its PEM electrolyzers are designed for hydrogen production in fueling, logistics, and industrial applications. Plug Power emphasizes integrated hydrogen solutions from generation to storage and fueling supporting sectors such as material handling, transportation, and distributed energy.

10. Bloom Energy

Bloom Energy develops solid oxide electrolyzer systems that produce green hydrogen through high-temperature electrolysis. These systems are optimized for distributed hydrogen generation and can operate alongside renewable energy sources or energy storage arrays, helping industrial and utility customers decarbonize operations.

Other Leading Global Electrolyzer Companies

• McPhy Energy
• Enapter AG
• Sunfire GmbH
• Asahi Kasei
• Air Liquide

Conclusion

The global Electrolyzer market is anticipated to expand at an impressive CAGR but is still constrained by certain factors such as high costs of infrastructure and limited supply chains. Fuel cell vehicles, heavy transport, shipping, and aviation are exploring hydrogen as a clean fuel alternative. Transportation decarbonization strategies require scalable hydrogen production infrastructure. Electrolyzers support localized hydrogen generation for fueling networks. Growth in hydrogen mobility ecosystems significantly contributes to market momentum.