Pune, India, Jan. 13, 2022 (GLOBE NEWSWIRE) -- The global Membrane Electrode Assembly Market size is estimated to reach USD 1.70 billion in 2028. The market size was USD 0.34 billion in 2020 and USD 0.42 billion in 2021. The market is further expected to grow at a CAGR of 22.1% during the 2021-2028 period. This information is provided by Fortune Business Insights™, in its report, titled, “Membrane Electrode Assembly Market, 2021-2028.”
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According to our researchers, the MEA delivers positions for chemical reactions happening inside a fuel cell to take place and to transform fuel into operational electrical power. Furthermore, the performance and constancy of fuel cells principally hinge on the groundwork technique of the membrane electrode assembly constituents. This electrode assembly in fuel cells administers the power of the fuel cell and plays a role as the crucial constituent. This is expected to further bolster the membrane electrode assembly market growth during the forecast period.
List of Key Players Covered in the Report
- Ballard Power Systems (Canada)
- Johnson Matthey (U.K.)
- Danish Power Systems (Denmark)
- BASF SE (Germany)
- W.L. Gore & Associates, Inc. (U.S.)
- Giner Inc. (U.S.)
- FuelCellsEtc (U.S.)
- IRD Fuel Cells (Denmark)
- Greenerity GmBH (Germany)
- Plug Power Inc. (U.S.)
- Hyplat (South Africa)
- The Chemours Company (U.S.)
- Sainergy (Georgia)
- Yangtze Energy Technologies, Inc. (Taiwan)
- Wuhan WUT New Energy Co., Ltd (China)
- YuanBo Engineering Co., Ltd (China)
Restricted Investment Prospects amid COVID-19 to Obstruct Market Growth
A global emergency such as the COVID-19 pandemic has considerably smashed numerous commercial as well as industrial functions across the world. The repercussion of this disaster has also led the economies of several developing nations towards chaos. Approximately every country across the globe has witnessed an abrupt rise in the amount of impacted population since the advent of the present year.
Consequently, the market has also been reasonably influenced by the result of this unparalleled situation, as countless industries have observed a substantial loss in the total labour force in numerous factories and plants.
To get to know more about the short-term and long-term impact of COVID-19 on this market, please visit: https://www.fortunebusinessinsights.com/industry-reports/membrane-electrode-assemblies-mea-market-101346
Report Scope and Segmentation-
|Forecast Period||2021to 2028|
|Forecast Period 2020 to 2028 CAGR||22.1%|
|2028 Value Projection||USD 1.70 billion|
|Market Size in 2021||USD 0.42 billion|
|Historical Data for||2017 to 2019|
|No. of Pages||185|
|Segments covered||By Component, By Application, By Region|
|Growth Drivers||Augmented Technological Innovations Stoked by Government Schemes to Drive Market Growth|
|Rising Initiatives for Fuel Cell in Automotive Industry to Support Growth|
|Pitfalls & Challenges||Durability Challenges Associated with Fuel Cells Likely to Hinder Market Growth|
The report delivers a rounded study of the market along with current trends and future anticipations. Furthermore, an in-depth examination of any forthcoming opportunities, threats, competitions or fuelling factors is also stated in the report. Methodical and systematic regional exploration is offered. The COVID-19 impacts have been added to the report to help stakeholders and business experts understand the jeopardies better. The topmost players in the market are celebrated, and their tactics to spur the market growth are revealed in the report.
On the basis of components, the market is segregated into membranes, gas diffusion layers, gaskets, and others.
The market has been further categorized across major regions such as, North America, Asia Pacific, Europe, and the Rest of the World.
In terms of end-user, the market is classified into proton exchange membrane fuel cell (PEMFC), direct methanol fuel cell, electrolysers, and others. The proton exchange membrane fuel cell segment was responsible for majority of the share in the market in the year 2020.
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Drivers and Restraints
Increasing Technological Innovation Backed Government Support Set to Fuel Market Growth
Fuel cells & electrolysers are sustainable and fundamental technologies meant for converting energy systems with greater proficiency and minimized carbon dioxide release. Nevertheless, the obtainability of numerous resources and several technologies has initiated a significant contribution of nations towards the improvement of fuel cell technology.
Consequently, the government has reinforced several combined technologies for the R&D and exhibition plans with competitive financing programs. Therefore, this in turn is anticipated to spur the market growth during the mentioned timeframe.
Asia Pacific held the maximum membrane electrode assembly market share and is termed as a major region in the market. Based on value, the region held a share of 53.4% as of 2020. In Asia Pacific, the increasing demand for electric vehicles (EV) and numerous agendas for endorsing renewable energy are anticipated to combine the market development.
North America is assessed to grow drastically during the forecast period, owing to the commercial introduction of fuel cell technology and considerable investments in the research & development program of fuel cell technologies.
In Europe, the emphasis on emerging elevated power-efficient automobiles as well as endorsing hydrogen-based transpiration is combining the market.
Novel Product Introductions by Crucial Companies to Promote Market Growth
Crucial players have adopted effective strategies over the years to control the market. Various strategies such as mergers, acquisitions, partnerships have been seen among several companies. One such effective strategy is expanding business territory in order to maximize profits. For instance, in September 2020, Ballard Power Systems announced to magnify the production capability for the manufacturing of membrane electrode assemblies (MEA) by approximately six times at its facility centre in its headquartered in Vancouver, Canada.
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December 2020: W. L. Gore & Associates declared that its membrane technology named, GORE-SELECT Membrane and was designated to thrust the second-generation fuel cell automobiles produced by Toyota.
Table of Content
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions & Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Key Emerging Trends – For Major Countries
- Latest Technological Advancement
- Insight on Regulatory Landscape
- Industry SWOT Analysis
- Porters Five Forces Analysis
- Qualitative Analysis – Impact of COVID-19
- Impact of COVID-19 on the Membrane Electrode Assembly Market
- Steps Taken by the Government to Overcome the Impact
- Key Developments in the Industry in Response to COVID-19
- Potential Opportunities and Challenges due to COVID-19 Outbreak
- Membrane Electrode Assembly Average Cost Breakdown, By Components, 2020
- Gas Diffusion Layers
- MEA Total Cost of Ownership (TCO) Market Analysis, 2020
- Global Membrane Electrode Assembly Market (USD Billion) Analysis, Insights, and Forecast, 2017-2028
- Key Findings
- Market Analysis, Insights and Forecast – By Component
- Gas Diffusion Layers
- Market Analysis, Insights and Forecast – By Application
- Proton Exchange Membrane Fuel Cells (PEMFC)
- Direct Methanol Fuel Cells (DMFC)
- Alkaline Electrolyzer
- Proton Exchange Membrane Electrolyzer
- Solid Oxide Electrolyzer
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