The PEM Electrolyzers market is experiencing significant growth, projected to reach USD 6.28 billion by 2030 from USD 0.27 billion in 2023. This surge is attributed to the global shift towards clean energy and hydrogen as a decarbonization pathway. PEM electrolyzers, known for splitting water into hydrogen and oxygen efficiently, are gaining traction due to their small size, quick start-up, and compatibility with renewable energy sources like wind and solar. This technology's ability to produce high-purity hydrogen with a low carbon footprint aligns well with climate goals and the increasing demand for green hydrogen in various industries. Governments worldwide are fostering hydrogen infrastructure development, with major players like Europe leading in installed capacity. Challenges such as limited iridium supply impact costs, but innovations in catalyst technology are addressing these constraints. The industry is witnessing advancements in system efficiency and material use reduction, alongside a shift towards greener production practices and recycling initiatives. As the market evolves, there is a focus on modular and flexible PEM systems for industrial-scale hydrogen production and decentralized energy applications. Overall, the PEM Electrolyzers market shows promise for driving clean energy adoption and sustainability amidst global efforts towards decarbonization.