The global Proton Exchange Membrane (PEM) electrolyzer market is experiencing remarkable growth driven by the increasing demand for green hydrogen in industries worldwide aiming for decarbonization. With a surge in government support, private sector investments, and technological innovations, PEM electrolyzers are becoming crucial for the clean energy transition. Key companies in this market include Sunfire, Air Liquide, Cummins, and more. One of the main drivers of this growth is the global commitment to reduce carbon emissions and shift towards sustainable energy systems. Governments in Europe, Asia, and North America are rolling out ambitious hydrogen strategies, with a focus on scaling up renewable hydrogen production through electrolysis, where PEM electrolyzers are at the forefront. PEM electrolyzers are preferred over alkaline ones due to their higher efficiency, faster response times, and compact design, making them suitable for dynamic applications like grid balancing and renewable energy integration. Recent technological advancements are making PEM electrolyzers more commercially viable by reducing costs and enhancing efficiency through materials innovation and digitalization. Europe leads the global PEM electrolyzer market, with countries like Germany, the Netherlands, and France heavily investing in hydrogen hubs. Asia-Pacific, particularly China, Japan, and South Korea, is quickly catching up, while North America is also emerging as a key player with initiatives like the U.S. Inflation Reduction Act. The PEM electrolyzer market is projected to grow significantly in the coming years, with a CAGR of 30.42%, driven by the increasing global demand for hydrogen. Despite challenges like high capital costs and limited infrastructure, PEM electrolyzers are expected to see continued innovation, regulatory support, and industrial adoption as they become a cornerstone of the green hydrogen economy.