Water Electrolysis Market to Hit $12.66B by 2034 as China Leads
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Pune – October 01, 2026 -- The global water electrolysis market reached USD 7.43 billion in 2025 and is projected to climb to USD 12.66 billion by 2034, a 6.1% CAGR through the forecast period, according to a new report from Maximize Market Research (MMR).
Installed electrolysis capacity more than doubled to above 4 GW in 2025
Global installed electrolysis capacity surpassed 4 GW last year, with over 2.5 GW under construction and targeting operation in 2026. Capital spending on low-emissions hydrogen projects reached nearly USD 7 billion in 2025, almost double the 2024 figure, with electrolysis-based projects capturing the larger share of that total.