Electrolyzer as a Service Market

FMI states that the global Electrolyzer as a Service market was valued at USD 1.2 billion in 2025 and is projected to grow from USD 1.5 billion in 2026 to USD 12.3 billion by 2036, registering a CAGR of 24.1% over the forecast period. In terms of electrolyzer technology, the PEM segment is set to register 46% share in 2026; on the basis of contract model, Pay-per-kg H2 or Output-based is anticipated to witness 39% share in 2026.