Global Membrane Electrode Assemblies Market

Membrane Electrode Assemblies Market Size, Share, Growth Analysis, By Component(Membranes, Gas Diffusion Layers, Gaskets, Others), By Application(Proton Exchange Membrane Fuel Cells (PEMFC), Direct Methanol Fuel Cells (DMFC), Electrolyzers, Others), By Region - Industry Forecast 2024-2031


Report ID: SQSG20I2012 | Region: Global | Published Date: April, 2024
Pages: 157 | Tables: 65 | Figures: 75

Membrane Electrode Assemblies Market Regional Insights

In 2021, Asia Pacific had the biggest share in the global market. Due to the widespread consideration of fuel cell and hydrogen technologies for accomplishing the aim, the market for membrane electrode assemblies is anticipated to grow in the Asia Pacific as a result of the increased demand for electric cars and different frameworks for boosting renewable energy.

For example, in contrast to the forecast rise of merely 4.8 percent last year, EV sales in Asia are predicted to increase by 78.1 percent year over year in 2021. Chemical companies create essential components for the car industry, including adhesives, sealants, lubricants, interior and form plastics, coatings, and tire rubbers. By the end of 2030, the region's total sales of EVs will have increased from an estimated sales volume of just over 1.4 million units the previous year to a high of just under 10.9 million units. According to the International Energy Agency's (IEA) Global EV Outlook 2021, China has the largest fleet with 4.5 million electric vehicles on the road as of last year. The three most developed economies in the area, notably China, Japan, and South Korea, will account for the majority of EV demand. China is anticipated to contribute about 91 percent of the region's EV sales this year, followed by South Korea with 4.2 percent and Japan with 2.8 percent. China's EV sales will rise faster this year, by 83 percent year over year, after expanding by an anticipated 3.6 percent in 2020.

Due to the commercial launch of fuel cell technology and significant expenditures in the research and development program of fuel cell technologies, North America is expected to increase rapidly throughout the projection period. Through technology advancement, demonstration, and a variety of initiatives to address institutional and market constraints, the U.S. Department of Energy's (DoE) administration for fuel cell technologies has set goals for supporting the wider commercialization of fuel cell technologies. States are also putting up action plans to reduce their carbon footprints.

The global membrane electrode assemblies market is being consolidated in Europe as a result of the region's emphasis on creating highly power-efficient automobiles and encouraging hydrogen-based transpiration. The research and commercialization of fuel cell technologies have come under the limelight as a result of numerous government efforts. For instance, the EU-funded GAIA project, which focuses on creating high power and high current density automobile MEAs, aims to significantly improve the MEA designs in order to meet the fuel cell's operating, economic, and durability goals. The initiative also combines OEMs, top industry and research groups, and fuel cell science and technology experts to create MEAs with greater performance.

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Membrane Electrode Assemblies Market size was valued at USD 0.42 billion in 2019 and is poised to grow from USD 0.51 billion in 2023 to USD 3.09 billion by 2031, growing at a CAGR of 22.1% in the forecast period (2024-2031).

The membrane electrode assemblies market is relatively fragmented, with a high level of competition. The prominent players operating in the market are constantly adopting various growth strategies to stay afloat in the market. Product launches, innovations, mergers, and acquisitions, collaborations and partnerships, and intensive R&D are some of the growth strategies that are adopted by these key players to thrive in the competitive market. For example, Blue World and Tuco have decided to work together to develop and demonstrate a flexible methanol fuel cell solution for electric workboats in order to ensure long-range, zero harmful emissions, and a net-zero operation. In the maritime sector, the Blue World methanol fuel cell technology offers a green substitute, and depending on the type of boat, the adaptable fuel cell-powered solution can be used for propulsion or auxiliary power. It may be placed anywhere on the ship or in any accessible location thanks to its versatility. The key market players are also constantly focused on R&D to supply industries with the most efficient and cost-effective solutions. '3M Company', 'DuPont', 'W. L. Gore & Associates, Inc.', 'Giner, Inc.', 'Ballard Power Systems, Inc.', 'Johnson Matthey Plc', 'Freudenberg Performance Materials', 'HyPlat LLC', 'Nisshinbo Holdings Inc.', 'SERELECTRO', 'JX Nippon Mining & Metals Corporation', 'Toray Industries, Inc.', 'FuelCell Energy, Inc.', 'Advent Technologies Holdings, Inc.', 'Plug Power Inc.', 'Proton OnSite', 'Sunrise Power Co., Ltd.', '2B Technologies, Inc.', 'Nedstack Fuel Cell Technology B.V.', 'ITM Power Plc.'

A practical and essential technology for transforming energy systems to ones that are more efficient and emit less carbon dioxide is the use of fuel cells and electrolyzers. However, the accessibility of various resources and technologies has come close to enabling significant national contributions to the advancement of fuel cell technology. As a result, the government has funded a variety of collaborative technologies for research and development and demonstration projects through financing competitions. For instance, the National Hydrogen and Fuel Cell Technology Innovation Programme (NIP), a strategic alliance between the German government and the business sector, is the most important component of the German roadmap for fuel cells and provides a framework for further advancement in fuel cell technologies across a variety of applications.

Many automobile manufacturers are now focusing on new technologies connected to electric, hybrid, or fuel cell vehicles as a result of the implementation of numerous international requirements for decreasing greenhouse gas emissions. Consequently, a number of manufacturers are creating brand-new, environmentally friendly technology for the car industry. For instance, in October 2020, the Council of Scientific and Industrial Research (CISR) and the KPIT industry created an LT-PEMFC fuel cell stack that is suitable for use in automotive applications and successfully tested it on a hydrogen fuel cell (HFC) prototype vehicle. To support the operation of fuel cell vehicles, the business has contributed knowledge in stack engineering, including stack assembly, system integration, control software, electric powertrain, and other components.

In 2021, Asia Pacific had the biggest share in the market. Due to the widespread consideration of fuel cell and hydrogen technologies for accomplishing the aim, the market for membrane electrode assemblies is anticipated to grow in the Asia Pacific as a result of the increased demand for electric cars and different frameworks for boosting renewable energy.

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Global Membrane Electrode Assemblies Market

Report ID: SQSG20I2012

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