The alkaline water electrolysis market is experiencing rapid expansion due to the increasing global demand for green hydrogen and clean energy systems. Valued at USD 1.33 billion in 2025, the market is projected to reach USD 5 billion by 2035, growing at a CAGR of 14.17%. This growth is supported by government commitments to decarbonization and the need for sustainable hydrogen production. Technological advancements in membrane technology and system integration are enhancing the efficiency and durability of electrolyzers, making green hydrogen more commercially viable. The industrial applications of alkaline water electrolysis include sectors such as ammonia production, oil refining, and energy storage, which are moving towards zero-emission operations. The market is witnessing an expansion of hydrogen economy projects, integration with renewable energy sources, and the development of modular and scalable electrolyzer systems. Additionally, decentralized hydrogen production in the mobility sector is reducing transportation costs and carbon emissions associated with hydrogen logistics. Europe leads the market with initiatives like the EU's Green Deal, while Asia-Pacific and North America are experiencing growth due to strong government support and aggressive deployment targets. The Middle East and Africa are leveraging abundant solar and wind resources for green hydrogen production, and Latin America is attracting investments in pilot-scale electrolyzer deployments. Challenges include high capital costs, the intermittency of renewable power sources, and competition from other electrolysis technologies like PEM and solid oxide electrolysis.