Membrane Electrode Assemblies Market to Record an Exponential CAGR by 2026
Membrane Electrode Assemblies Market: Overview
A membrane electrode assembly (MEA) is a core component in all fuel cell technologies. It converts chemical energy from a fuel into electricity through a chemical reaction with oxygen or another oxidizing agents. An MEA consists of two electrodes; anode and cathode; with a thin layer of catalyst and a gas diffusion layer, each bonded to both sides of the membrane.
Demand for fuel cells is increasing with a rapid pace. In the automobile industry, the alternative power vehicles such as hybrid cars, battery electric vehicles and fuel cell powered vehicles (FCPV) is gaining traction in the last few years. This, in turn, is driving the MEA market. Additionally, rise in environmental concerns and stringent regulations regarding carbon emissions, especially in Europe and North America, is anticipated to boost to the membrane electrode assemblies market. However, high cost of catalysts used in MEAs is likely to hinder the membrane electrode assemblies market.
Membrane Electrode Assemblies Market: Key Segments
The membrane electrode assemblies market can be segmented based on type, application, and region. In terms of type, the market can be divided into three-layer membrane electrode assemblies, five-layer membrane electrode assemblies, and others. Five-layer membrane electrode assemblies is composed of a polymer electrolyte membrane (PEM), two catalyst layers, and two gas diffusion layers (GDLs), while three-layer membrane electrode assemblies includes polymer electrolyte membrane with catalyst layers applied to anode and cathode. Catalyst coated membrane (CCM) is another name for this type of MEA. The five-layer segment MEA is projected to expand at a considerable CAGR during the forecast period, as it can be installed in a cell as an integrated component, while the three-layer membrane electrode assemblies requires a pair of GDLs to make it a five-layer configuration for installation.
In terms of application, the membrane electrode assembly market can be segregated into electrolyzes, polymer electrolyte fuel cells, hydrogen/oxygen air fuel cells, direct methanol fuel cells, and others. The hydrogen/oxygen air fuel cells segment is estimated to expand at a substantial CAGR during the forecast period. Hydrogen air and hydrogen oxygen MEAs are used directly in polymer electrolyte membrane fuel cells (PEMFCs). PEMFCs are designed to optimize the efficiency of transport applications, stationary fuel cell applications, and portable fuel cell applications.
Membrane Electrode Assemblies Market: Regional Outlook
Based on region, the membrane electrode assemblies market can be categorized into North America, Asia Pacific, Europe, Latin America, and Middle East & Africa. North America is expected to lead the membrane electrode assemblies market. In the U.S., major businesses such as Coca-Cola, Walmart, eBay, and Google have pledged to adopt fuel cell for internal consumption. Adoption of fuel cell technology for operations is expected to reduce electricity utilization cost of data centers. The U.S. hold a major share of the membrane electrode assemblies market in North America. The membrane electrode assemblies market in Asia Pacific is anticipated to grow considerable CAGR during forecast period due to high growth in industrial and infrastructure sectors. In terms of revenue, China, Japan, India, and Indonesia are the key countries for the membrane electrode assemblies market in the region.
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Membrane Electrode Assemblies Market: Key Players
Major companies operating in the membrane electrode assemblies market include Giner Inc., 3M Company, HyPlat (Pty) Ltd., Ballard Power Systems Inc., E. I. du Pont de Nemours and Company, Johnson Matthey Plc, Fuel Cells Etc, Greenerity GmbH, Danish Power Systems, and YuanBo Engineering Co., Ltd
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