The IDTechEx report forecasts significant growth in the electrolyzer component sector, attributing this expansion to the increasing demand in the green hydrogen industry. Electrolyzers play a crucial role in the production of green hydrogen, which is seen as a leading solution for reducing emissions in challenging sectors. Governments and industries are investing heavily in establishing gigawatt-scale production capacities by 2030 to advance the transition towards green hydrogen. The report delves into four main water electrolyzer technologies, providing detailed market forecasts, material demand quantification, and insights into the key components across these technologies. The evolution of materials and components in electrolyzer technologies is essential for boosting efficiency, longevity, and reducing reliance on scarce materials. Innovations like catalysts with reduced iridium content in PEM electrolyzers aim to address supply chain vulnerabilities. The report emphasizes the critical role of materials like membranes, catalysts, electrodes, and plates, offering insights into current trends and future advancements. Different electrolyzer technologies, such as Alkaline, PEM, AEM, and SOEC, are analyzed in detail. Alkaline water electrolyzers are noted for their utilization of widely available materials like nickel and stainless steel, with a trend towards zero-gap configurations for improved efficiency. Proton exchange membrane electrolyzers are favored for their efficiency and ongoing innovations in anode catalyst development. Anion exchange membrane electrolyzers are emerging technologies combining the advantages of Alkaline and PEM stacks. Solid oxide electrolyzers benefit from cross-innovation with solid oxide fuel cells, showcasing high-temperature ceramic innovation. Overall, the report highlights the significant opportunities for innovation in the electrolyzer component sector, driven by the increasing demand for green hydrogen and the need for advanced electrolyzer technologies to support the global transition towards a more sustainable energy landscape.