Global Alkaline Water Electrolysis Market Size & Outlook
The global alkaline water electrolysis market size was estimated at USD 167.0 million in 2024 and is projected to reach USD 491.3 million by 2030, growing at a CAGR of 19.8% from 2025 to 2030.
Revenue, 2024 (US$M)
$167.0
Forecast, 2030 (US$M)
$491.3
CAGR, 2025 - 2030
19.8%
Report Coverage
Worldwide
Global alkaline water electrolysis market, 2018-2030 (US$M)
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Global alkaline water electrolysis market highlights
- The global alkaline water electrolysis market generated a revenue of USD 167.0 million in 2024 and is expected to reach USD 491.3 million by 2030.
- The market is expected to grow at a CAGR (2025 - 2030) of 19.8% by 2030.
- In terms of segment, < 50 m3/h accounted for a revenue of USD 55.5 million in 2024.
- < 50 m3/h is the most lucrative type segment registering the fastest growth during the forecast period.
- In terms of region, Asia Pacific was the largest revenue generating market in 2024.
- Country-wise, Canada is expected to register the highest CAGR from 2025 to 2030.
Global data book summary
| Market revenue in 2024 | USD 167.0 million |
| Market revenue in 2030 | USD 491.3 million |
| Growth rate | 19.8% (CAGR from 2025 to 2030) |
| Largest segment | < 50 m3/h |
| Fastest growing segment | < 50 m3/h |
| Historical data covered | 2018 - 2023 |
| Base year for estimation | 2024 |
| Forecast period covered | 2025 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | < 10 m3/h, < 30 m3/h, < 50 m3/h, < 80 m3/h, >= 80 m3/h |
Other key industry trends
- In terms of revenue, the North America accounted for 15.4% of the global alkaline water electrolysis market in 2024.
- By country, the China is projected to lead the global market in terms of revenue in 2030.
- By country, Canada is the fastest growing regional market and is projected to reach USD 25.6 million by 2030.
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Alkaline Water Electrolysis Market Scope
Alkaline water electrolysis market segmentation & scope
Alkaline Water Electrolysis Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|---|---|---|---|
| Teledyne CARIS | View profile | 101-250 | Fredericton, New Brunswick, Canada, North America | http://www.teledynecaris.com/en |
| SunHydrogen | View profile | 1-10 | Santa Barbara, California, United States, North America | https://sunhydrogen.com/ |
| Enaex | View profile | 5001-10000 | Santiago, Oaxaca, Mexico, North America | http://www.enaex.com |
| NEL Hydrogen | View profile | 501-1000 | Oslo, Oslo, Norway, Europe | https://nelhydrogen.com |
| Green Hydrogen Systems | View profile | 251-500 | Kolding, Syddanmark, Denmark, Europe | http://greenhydrogen.dk/ |
| McPhy Energy SA | View profile | 265 | 1115, Route de Saint-Thomas, La Motte-Fanjas, France, 26190 | http://www.mcphy.com |
| ITM Power PLC | View profile | 406 | 2 Bessemer Park, Shepcote Lane, Sheffield, United Kingdom, S9 1DZ | https://www.itm-power.com |
| Thyssenkrupp AG | View profile | 100202 | ThyssenKrupp Allee 1, Essen, NW, Germany, 45143 | https://www.thyssenkrupp.com |
| Cummins Inc | View profile | 75500 | 500 Jackson Street, Box 3005, Columbus, IN, United States, 47202-3005 | https://www.cummins.com |
| Asahi Kasei Corp | View profile | 48897 | 1-105 Kanda Jinbocho, Chiyoda-ku, Tokyo, Japan, 101-8101 | http://www.asahi-kasei.co.jp |
Global alkaline water electrolysis market size, by regions, 2018-2030 (US$M)
Top 10 countries: Alkaline water electrolysis market size, 2024 (US$M)
Global alkaline water electrolysis market share, by type, 2024 & 2030 (%, US$M)
Alkaline water electrolysis market: Opportunity assessment by country
Global alkaline water electrolysis market, by region, 2024 (US$M)
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