The power supply equipment market for water electrolysis is experiencing significant growth driven by the increasing interest in hydrogen as a clean energy source and the need for energy storage solutions. Companies like ABB, General Electric, and Danfoss Drives are intensifying their market positions through collaborations and advancements in technology. The rise in demand for green hydrogen is a key factor in the market's expansion, with the International Energy Agency emphasizing the potential to reduce CO2 emissions through water electrolysis-based hydrogen production. Despite challenges such as high energy losses during the electrolysis process, innovations like hybrid water electrolysis are creating opportunities to improve efficiency and lower costs. Europe is positioned to lead the market, aiming for a substantial electrolyzer installed capacity by 2030. With the global shift towards renewable energy, the power supply equipment market for water electrolysis offers promising prospects for industry growth and impact.