In alkaline water electrolysis, gas bubble coverage of the electrode surface is directly linked with an increase in cell potential. Ultrasonic field presence in water electrolysis has been proven effective in removing gas bubbles from the electrode and enhancing mass transfer and bubble removal. Most studies regarding water electrolysis under sonification focused on low-concentration NaOH electrolyte solutions so there is a lack of information regarding operating conditions similar to commercial solutions. This work focused on an experimental evaluation of the effect of an ultrasonic field with a 40 kHz frequency on water electrolysis using a lab-scale electrolyser with three different KOH solutions varying in concentration (15, 25, 35% (w/w)) at 30, 40, 50, 60 °C. A reduction in cell potential was registered across all test conditions and it was maximum for 15 and 25% KOH solutions at 30 °C with 52 and 34 mV, respectively, and decreased with an increase in temperature. For a 35% KOH solution, the cell potential reduction stayed constant across all temperatures (16–19 mV). This difference was thought to be caused by the ultrasonic frequency and power and therefore required further testing. To further investigate the effect of gas bubble accumulation on the electrode surface, measurements of hydrogen bubbles’ critical diameter were taken. It was found that a higher electrolyte concentration results in a lower critical diameter (0.404, 0.356, and 0.293 mm with a 15, 25, and 35% KOH, respectively) assumed to be a consequence of higher viscosity and gas formation rate at higher concentrations.