The Membrane Electrode Assemblies Market size is analyzed to grow at a CAGR of 26.4% during the forecast 2021-2026 to reach $850 Million by 2026. The Membrane Electrode Assembly (MEA) is the primary component of a fuel cell, which assists in generating the necessary electrochemical reaction required to separate electrons for premium power performance attainment. The Membrane Electrode Assemblies Market is majorly growing due to the promising demand of the EV/PHV/HEV Vehicles, along with the massive demand for clean energy generation, and polymer electrolyte membrane solution. The growth is further attributed due to the augmentation of the power generation capacities across the world, robust transformation towards renewable energy generation coupled by the investments and government initiatives for advancing fuel cell technology and catalyst coated membrane, thereby driving the Membrane Electrode Assemblies Industry. In fact, the continuous demand for heavy-duty transport, along with the small and large power generation systems provides energy storage and other electricity solutions, specifically across Asia-Pacific regions. Therefore, the growing usage of fuel cell-based vehicles, substantial investment by players Ballard Power Systems Inc., Ceramic Fuel Cell, Hydrogenics, Fuel Cell Energy, Toshiba Corporation, Panasonic Corporation, and others are some of the pertinent factors contributing to the growth of the Membrane Electrode Assemblies Market.
Membrane Electrode Assemblies Market Segment Analysis – By Technology
Based on technology, the Membrane Electrode Assemblies Market is segmented into 3-Layer Membrane Electrode Assemblies, 5-Layer Membrane Electrode Assemblies, and Others. The 5-Layer Membrane Electrode Assemblies is estimated to hold the major share of 48% in 2020, owing to the availability of the affordable Membrane Electrode Assemblies, and also, require very less time for manufacturing in comparison to the 3-Layer MEAs. The 5-layer MEAs further optimize gas diffusion layer designs and offers enhanced cell performance. In July 2019, Birkenfeld, the fuel cell group of the environmental department received the largest investment from the private research contract, in reference to the leading energy industry. Hence, the growing research and development initiated for the fuel cell and battery and other advantages to manage conventional vehicles are some of the factors, resulting in the growth of the Membrane Electrode Assemblies Market.
Membrane Electrode Assemblies Market Segment Analysis – By Application:
Based on Application, the Membrane Electrode Assemblies Market is segmented into Electrolyzers, Polymer Electrolyte Fuel Cells, Hydrogen/Oxygen Air Fuel Cells, Direct Methanol Fuel Cells, and Others. The Electrolyzers application is analyzed to hold the maximum share of 40% in 2020, due to the seamless process of converting electricity into hydrogen. It actually deploys electricity to break water into hydrogen and oxygen, which in turn elevated product gas purity. Moreover, it is affordable to apply and lasts for many years. In August 2021, US-based Ohmium launched a green hydrogen electrolyzergiga factory in India. This renewable energy start-up of the US is set to locate in Bangalore, India as PEM is considered as the latest ultimate equipment for generating green hydrogen, which breaks water into hydrogen in a clean way. Therefore, the growing demand for the modular, advanced, and high performance Membrane Electrode components is estimated to drive the Membrane Electrode Assemblies market successfully.
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Membrane Electrode Assemblies Market Segment Analysis – By Geography
By geography, Europe is analyzed to hold a significant share of 40% in 2020, owing to the early adoption of renewable energy solutions, dynamics of the e-mobility market, along the diverse fuel sources distributed across the region. The significant demand for electricity, and other resources, such as hydro and wind, have also boosted the Membrane Electrode Assemblies in Europe. In July 2021, Shell started Europe’s largest PEM green hydrogen electrolyzer to contribute to Europe’s goal to achieve climate neutrality and hydrogen production. The project of Shell is developed to achieve net-zero-emissions energy business by 2050, and thus, demonstrate a unique energy future model of lower-carbon energy production, worldwide. With the project, the Executive Director of FCH JU, Bart Biebuyck announced the pertinence of the energy system fundamentals to aim climate neutrality, and also, clean hydrogen solution plays a primary role in e-mobility. Therefore, the various initiatives for green energy solutions, the launch of fuel cells and hydrogen technology, and various other industry vision and commitment endeavors are estimated to drive the Membrane Electrode Assemblies Market.
Membrane Electrode Assemblies Market Drivers
Growing renewable energy solutions in the market is estimated to boost the Membrane Electrode Assemblies Market
The growing renewable energy solution in the market, owing to the pertinent concern about the reduction of greenhouse gas emissions, high demand for energy security, and establishment of Solar PV and wind, result in the growth of the Membrane Electrode Assemblies Market. Moreover, the rising government regulations and the significant initiative to avert traditional nuclear power technology adds a successful growth rate to the Membrane Electrode Assemblies Industry. In March 2021, Toyota Motor Corporation announced the partnership with Beijing SinoHytec for the development of hydrogen fuel cell vehicles for the market of China. In fact, the release of the statement by both of the companies stated that they have invested $ 72 million into Huafeng Fuel Cell Co. Ltd to promote the design of the company’s first car, which is manufactured after MIRAI, Toyota’s hydrogen fuel cell vehicle. Hence, the constant efforts to deploy fuel cell technology to enhance transportation, supportive government policies, and creating advancement to generate efficient refueling stations and other applications are estimated to drive the Membrane Electrode Assemblies Market.
The rising demand of electric vehicles (EVs) is analyzed to accelerate the growth of the Membrane Electrode Assemblies Market
The massive ongoing developments in the automotive sector, including the rapid evolution of electric vehicles (EVs) for denoting EV revolution and greener transportation initiatives, are estimated to drive the Membrane Electrode Assemblies Market. In addition, Electric vehicles across the globe have achieved immense popularity, owing to the avant-garde technological advancements, which promotes efficiency to outperform the conventional and other kinds of vehicle, in reference to the low carbon emission, low fuel consumption, and minimum maintenance. In February 2020, India-based startup, FAE Bikes launched a low-cost EV charging station, known as KiranaCharzer. The KiranaCharzer is a compact designed zero-maintenance and IoT enabled charging station that enables small shops and individuals to install this charging platform and generate additional income. Hence, the growing demand of compatible charging infrastructure for rising volume EV vehicles across the street, and concentrated R&D efforts and emerging demand of next-generation EV cars boost the demand of the Membrane Electrode Assemblies Market.
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Membrane Electrode Assemblies Market Challenges
Expensive technology and limited Infrastructure hamper the growth of membrane Electrode Assemblies MarketThe expensive technology adoption and limited infrastructure development are a few of the market impediments that represent the major limitations for the growth of the Membrane Electrode Assemblies Market. However, the demand of the Membrane Electrode Assemblies Market is growing in spite of all these drawbacks, and challenges such as the expensive cost of production and other related technology that is critical and requires qualified professionals to deal with the scalable implementation. Hence, the relative crises and the limited availability of the MEAs lead to time-consuming production processes, which hampers the growth of the Membrane Electrode Assemblies Market.
Membrane Electrode Assemblies Market Landscape
Product launches, acquisitions, and R&D activities are key strategies adopted by players in the Membrane Electrode Assemblies Market. The Membrane Electrode Assemblies top 10 companies include:
Ballard Power Systems Inc.,
du Pont de Nemours and Company,
Giner Inc., Greenerity GmbH,
HyPlat (Pty) Ltd.,
IRD Fuel Cell Technology A/S,
Johnson Matthey Plc,
The 3M Company
W. L. Gore & Associates, Inc.
Wuhan WUT New Energy Co., Ltd.
In March 2021, EKPO and Fuel Cell Technologies signed a partnership to supply fuel cell stacks and components for a broad range of applications. The strategic merger is also developed to denote state-of-the-art and cost-competitive fuel cell stacks and components technology to manage diversified applications, including commercial vehicles.
In July 2021, an innovation-driven leader in the fuel cell and hydrogen technology company, Advent Technologies Holdings, Inc. launched the M-ZERØ™ family of products. The M-ZERØ™ is designed specifically to generate power in remote environments, and also, enable to minimize methane emissions effectively, through pneumatic injection technology.
Europe is analyzed to hold the significant share of 40% in 2020, owing to the early adoption of renewable energy solutions, dynamics of the e-mobility market, along with the diverse fuel sources distributed across the region.
The 5-Layer Membrane Electrode Assemblies is estimated to hold the major share of 48% in 2020, owing to the availability of the affordable Membrane Electrode Assemblies, and also, require very less time for manufacturing in comparison to the 3-Layer MEAs.
The growing renewable energy solution in the market, owing to the pertinent concern about the reduction of greenhouse gas emissions, high demand for energy security, and establishment of Solar PV and wind, result in the growth of the Membrane Electrode Assemblies Market.
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