Membrane Electrode Assembly Market to Display Stunning CAGR of 22.1% between 2021 and 2028; Johnson Matthey and SFC Energy AG Engage in Multi-Million Dollars Contract Set to Spur Growth

The global membrane electrode assembly market size is estimated to reach USD 1.70 billion by 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 Size, Share & COVID-19 Impact Analysis, By Component (Membranes, Gas Diffusion Layers, Gaskets, and Others), and by Application (Proton Exchange Membrane Fuel Cells (PEMFC), Direct Methanol Fuel Cells (DMFC), Electrolyzers, and Others) and Regional Forecast, 2021-2028”

According to our analysts, the increasing emphasis on adopting clean energy and declining carbon dioxide secretions has boosted the commercialization of membrane electrode assembly. This is expected to bolster the demand for the product during the mentioned time period.

COVID-19 Impact: Inadequate Capitalization Openings to Delay Market Growth

A universal crisis such as the coronavirus disease outbreak has considerably knocked several commercials as well as manufacturing processes throughout the world. The outcome of this emergency has further resulted in the economies of various emerging countries being affected severely.

Moreover, the inaccessibility of the experienced laborers pooled with long-lasting lockdowns of industrial units has thus occasioned restricted productivity of fuel cells & electrolyzers and is hindering the market growth.

Additionally, prime renewable and fossil-induced energy-producing nations such as the U.S. and China have imposed strict guidelines to curb the spread of the novel coronavirus. Numerous governments across the globe have put forth strict norms in order to restrict the spread of this virus.

To get a detailed report summary and research scope of this market, click here:

https://www.fortunebusinessinsights.com/industry-reports/membrane-electrode-assemblies-mea-market-101346

Johnson Matthey Announces New Plant Inauguration in Swindon, U.K.

Johnson Matthey, a global frontrunner in ecological technologies, has shifted to the next principal stage in its schemes to commercialize technologies in order to permit the making of zero-carbon or ‘green’ hydrogen, announced the novel production volume for the manufacturing of catalyst covered membranes.

This facility is co-situated with Johnson Matthey’s progressive unit based in Swindon, U.K., where great performance fuel cell constituents comprising catalyst coated membranes and fuel processor catalysts, membrane electrode assemblies are manufactured on a large scale.

Additionally, hydrogen has the latent to considerably assist towards the battle to confront the climate concern by decarbonizing productions that are problematic to electrify, such as heavy industry, heavy movement, aeronautics as well as transport. This is a vital step in aiding societies to suffice their determined net-zero objectives.

Increasing Initiatives for Fuel Cell in Automobile Industry to Stimulate Growth

The automobile industry is a prime participant that contributes to the global release of harmful substances, accrediting the reliance on fossil fuel as a principal energy resource. The rising initiatives for zero-emission have persuaded consumers to purchase zero-emission vehicles (ZEVs) or electric vehicles (EVs), which inaugurate as a possibility for fuel cell electric vehicles, generating prospects for the market.

Moreover, automotive producers are generating elevated financing for producing resourceful and high-power automobiles, which in turn forms substantial openings for fuel cell technology. This is expected to bolster the membrane electrode assembly market growth during the forecast period.

Product Modernization by Crucial Players to Enhance Their Market Value

The global MEA market is witnessing healthy competition among major players that are determined to preserve strong control. These companies are developing efficient strategies and as well as products to satisfy the growing demand amongst their users. Additionally, other fundamental players are trying to gain a competitive edge over their rivals by adopting strategies such as merger and acquisition, collaboration, and partnership during the forecast period. 

Industry Development

• January 2021: Johnson Matthey and SFC Energy AG engaged in a novel multi-million-pound contract for the delivery of Membrane Electrode Assemblies.

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)

Further Findings

• The proton exchange membrane fuel cell segment accounted for the major share in this market in 2020.
• Asia Pacific held the maximum membrane electrode assembly market share and is the major region in the market.

Table of Segmentation