Yahoo Finance Membrane Electrode Assembly Market Size [2023-2028] worth USD 1.70 Billion by 2028 | Fortune Business Insights
According to Fortune Business Insights, the global membrane electrode assembly market size expected to hit USD 1.70 billion in 2028 from its value USD 0.42 billion in 2021. The market is forecast to grow at 22.1% during forecast period.
Pune , India, Feb. 06, 2023 (GLOBE NEWSWIRE) -- The global membrane electrode assembly market size is expected to gain momentum and reach USD 1.70 billion by 2028 during forecast period of 2023 to 2028. The historic market size was valued USD 0.34 billion in 2020, and USD 0.42 billion in 2021 respectively. The growth is attributed to factors such as, increasing demand for fuel cells, continuous research and development in the field of fuel cell technology is leading to improvements in membrane electrode assemblies. This information is published by Fortune Business Insights™ in an upcoming report, titled, “Membrane electrode assembly Market, 2023-2028.”
According to our researchers, the membrane electrode assembly (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. The membrane 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.
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Membrane Electrode Assembly Market Scope:
Report Coverage | Details |
Forecast Period | 2021-2028 |
Forecast Period 2021 to 2028 CAGR | 22.1% |
2028 Value Projection | USD 1.70 billion |
Base Year | 2020 |
Market Size in 2020 | USD 0.34 billion |
Historical Data for | 2017-2019 |
No. of Pages | 185 |
Segments covered | Component, Application, and 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 |
Drivers & 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 membrane electrode assembly market growth during the mentioned timeframe.
COVID-19 Impact
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
Segmentation of 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.
Regional Insights
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.
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Competitive Landscape
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.
KEY INDUSTRY DEVELOPMENTS
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.
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)
SEGMENTATION:
By Component
Membranes
Gas Diffusion later (GDL)
Gaskets
By Application
Proton Exchange Membrane Fuel Cells (PEMFC)
Direct Methanol Fuel Cells (DMFC)
Electrolyzers
Alkaline Electrolyzer
Proton Exchange Membrane Electrolyzer
Solid Oxide Electrolyzer
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Table of Content:
Introduction
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 (MEA) 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
Membranes
Gas Diffusion Layers
Gaskets
Others
MEA Total Cost of Ownership (TCO) Market Analysis, 2020
Global Membrane Electrode Assembly (MEA) Market (USD Billion) Analysis, Insights, and Forecast, 2017-2028
Key Findings
Market Analysis, Insights and Forecast – By Component
Membranes
Gas Diffusion Layers
Gaskets
Others
Market Analysis, Insights and Forecast – By Application
Proton Exchange Membrane Fuel Cells (PEMFC)
Direct Methanol Fuel Cells (DMFC)
Electrolyzers
Alkaline Electrolyzer
Proton Exchange Membrane Electrolyzer
Solid Oxide Electrolyzer
Others
Market Analysis, Insights and Forecast – By Region
North America
Europe
Asia Pacific
Rest of World
Competitive Analysis
Company Market Share Analysis, 2020
Company Profile
Ballard Power Systems
Business Overview
Product Applications, & Services
SWOT Analysis
Strategies
Financials
Continued…
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