Industry Background:
The Membrane Electrode Assembly (MEA) is the core component of a fuel cell that helps produce the electrochemical reaction needed to separate electrons. On the anode side of the MEA, a fuel (hydrogen, methanol, etc.) diffuses through the membrane and is met on the cathode end by an oxidant (oxygen or air) which bonds with the fuel and receives the electrons that were separated from the fuel. Catalysts on each side enable reactions and the membrane allows protons to pass through while keeping the gases separate. In this way, cell potential is maintained and current is drawn from the cell producing electricity.
According to AMA Research, the market for Membrane Electrode Assemblies is expected to register a CAGR of 24.15% during the forecast period to 2030. This growth is primarily driven by Increase in Demand for fuel cell systems due to the rise in environmental concerns and stringent regulations.
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
Forecast Period | 2024-2030 |
Volume Unit | K Units |
Value Unit | USD (Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
The Electrical Components & Equipment sector in the
region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Manufacturers, such as 3M (United States), Chemours (United States), W. L. Gore & Associates, Inc. (United States), Johnson Matthey (United Kingdom), Ballard Power Systems Inc. (Canada), Greenerity GmbH (Germany), IRD Fuel Cells (Denmark), Giner ELX (United States), HyPlat (South Africa) and Danish Power Systems (Denmark), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
In December 2023, Johnson Matthey Plc (JM) acquired Fuel Cell Technologies Ltd (FCT), a leading MEA producer for the automotive industry. This move strengthens JM's position in the growing fuel cell market, particularly for light-duty vehicles.
In October 2023, Gore introduced its latest-generation MEA specifically designed for heavy-duty fuel cell applications. This new product claims improved durability and performance for long-haul trucks and buses.The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies.
Influencing Trend:
Adoption of Fuel Cell Technology for Operation is expected to reduce Electricity Utilizations
Market Growth Drivers:
Increase in Demand for fuel cell systems due to the rise in environmental concerns and stringent regulations
Restraints:
High Cost of Catalyst Utilized in Membrane Electrode Assemblies
Opportunities:
Technological Advancements and an Increase in Demand for Membrane Electrode Assemblies from Emerging Economies
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mainly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Manufacturers landscape impacting the market's growth. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Data Sources of Membrane Electrode Assemblies Market Study
Primary Collection: InMail, LinkedIn Groups, Survey Monkey, Google, and Other professional Forums are some of the mediums utilized to gather primary data through key industry participants and appointees, subject-matter experts, C-level executives of Membrane Electrode Assemblies Industry, among others including independent industry consultants, experts, to obtain and verify critical qualitative commentary and opinion and quantitative statistics, to assess future market prospects.
The primary interviews and data collected as per the below protocols: By Designation: C-Level, D-Level, Others
By Company Type: Tier 1, Tier 2, Tier 3
Secondary Data Sources such as Annual reports, Press releases, Analyst meetings, Conference calls, Investor presentations, Management statements, and SEC filings of Membrane Electrode Assemblies players along with Regulatory Sites, Association, World bank, etc were used as sources secondary set of data.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Membrane Electrode Assemblies Study Sheds Light on
The Membrane Electrode Assemblies Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Membrane Electrode Assemblies industry Manufacturers. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Membrane Electrode Assemblies industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Manufacturers can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.