The PEM electrolyzer market is experiencing significant growth, driven by the global transition towards clean energy sources. Nations worldwide are implementing strategic hydrogen roadmaps, supported by financial incentives such as the U.S. Inflation Reduction Act and the EU Green Deal auctions. Technological advancements in electrolyzer systems are reducing costs and improving efficiency, making PEM technology economically viable for various applications like fuel cell electric vehicles, industrial feedstock, and power-to-gas storage systems. Key drivers of market growth include the increasing demand for high-purity hydrogen in the transportation sector, the adoption of green hydrogen in heavy industries, and the grid stability benefits provided by PEM electrolyzers. Market trends highlight hybrid renewable integration, modular and decentralized PEM systems, and the use of AI and IoT for optimization to enhance efficiency and cost-effectiveness. The PEM electrolyzer market is segmented by capacity, with small-scale, mid-scale, and large-scale applications targeting different industrial needs. Small-scale units are ideal for remote sites and pilot projects, while mid-scale units support industrial hubs and hydrogen refueling. Large-scale units are designed for utility-scale projects and heavy industrial decarbonization. The future of the industry lies in continued R&D efforts to improve efficiency, reduce costs, and enhance performance. With the increasing focus on green hydrogen production, the PEM electrolyzer market is poised for significant expansion, offering solutions for a wide range of industries and driving the global shift towards sustainable energy.