Hydrogen electrolyzers are playing a crucial role in driving clean energy innovation globally. These devices utilize electricity from renewable sources to produce green hydrogen through electrolysis, offering a versatile energy carrier for various industries. The market, estimated at US$ 4.5 billion in 2025, is projected to grow significantly, driven by the increasing need for decarbonization and falling electrolyzer costs. The market is dominated by key players like Nel ASA, ITM Power, and Siemens Energy, who are focusing on scaling up production to meet industrial demand. Strategic partnerships and R&D efforts are strengthening market positions and expanding product portfolios. Rising demand for green hydrogen, supported by global decarbonization goals and government incentives, is fueling market growth. Europe leads in hydrogen electrolyzer deployments, followed by Asia Pacific and North America. Modular, scalable electrolyzer units are a key trend, enhancing energy efficiency and driving market expansion. These units, integrated with renewable power plants, enable rapid installation and flexible capacity additions, aligning with fluctuating renewable energy output. Porter's Analysis highlights market dynamics such as high capital requirements for new entrants and the impact of regulatory shifts on market strategies. Overall, the outlook for the global hydrogen electrolyzer market is positive, with a strong focus on innovation, sustainability, and market expansion.