Membrane Electrode Assembly Market Size, Share, and Analysis, By Component (Membranes, Gas Diffusion Layers, Gaskets, and Others), By Application (Proton Exchange Membrane Fuel Cells (PEMFC), Direct Methanol Fuel Cells (DMFC), Electrolysers, and Others), By Region (North America, Europe, Asia-Pacific, And Rest of the World), And Regional Forecast 2024-2034
Membrane Electrode Assembly Market Size, Share, and Analysis, By Component (Membranes, Gas Diffusion Layers, Gaskets, and Others), By Application (Proton Exchange Membrane Fuel Cells (PEMFC), Direct Methanol Fuel Cells (DMFC), Electrolysers, and Others), By Region (North America, Europe, Asia-Pacific, And Rest of the World), And Regional Forecast 2024-2034
PRODUCT OVERVIEW
Membrane Electrode Assembly Market is anticipated t%li%grow at a CAGR of 22.7% in the forecast period (2024-2034), with the market size valued at USD 0.63 billion in 2023 and projected t%li%reach USD 5.99 billion by 2034.
Membrane electrode assembly is a core component of proton exchange membrane fuel cells, which are widely used across various applications such as electric vehicles and stationary power generation. Membrane electrode assembly consists of multiple layers such as a proton exchange membrane, an anode catalyst layer, and a cathode catalyst layer, which aids in important operations in proton exchange membrane fuel cells. The proton exchange membrane acts as a selective barrier, allowing protons t%li%pass while blocking electrons, which makes it easier t%li%move hydrogen ions from the anode t%li%the cathode. In addition, platinum nanoparticles implanted in the anode catalyst layer accelerate the oxidation of hydrogen molecules t%li%protons and electrons. Similarly, platinum catalysts in the cathode catalyst layer stimulate the reduction of oxygen molecules, thereby allowing them t%li%combine with protons and electrons t%li%produce water. Furthermore, many research and development efforts are undergoing t%li%refine the structure of membrane electrode assembly for improving the performance and efficiency of proton exchange membrane fuel cells, which promote their adoption across various sectors.
MARKET HIGHLIGHTS
Membrane electrode assembly market is expected t%li%reach USD 5.99 billion, growing at a CAGR of 22.7% during the forecast period, due t%li%the growing adoption of proton exchange membrane fuel cells in multiple sectors, such as automotive, aerospace, and portable electronics. Proton exchange membrane fuel cells provide clean and efficient generation of energy with low emissions as compared t%li%conventional combustion-based systems, which promotes the demand for membrane electrode assembly t%li%power electric vehicles and backup power systems. Besides, several programs by the government t%li%support fuel cell technology and the increasing focus on renewable energy sources are other compelling reasons that encourage the adoption of the membrane electrode assembly market. Therefore, t%li%improve the performance and dependability of membrane electrode assembly, industry players are aggressively investing in research and development initiatives, which has resulted in competitiveness and new market prospects.
Membrane Electrode Assembly Market Segments:
Growth Drivers
High Demand for Clean and Renewable Energy Will Contribute t%li%Market Growth
Increasing Investment and Receiving Government Support Will Help the Market
Restraint
Higher Cost of Membrane Electrode Assembly is Expected t%li%be a Substantial Market Barrier
Key Players
PRODUCT OVERVIEW
Membrane Electrode Assembly Market is anticipated t%li%grow at a CAGR of 22.7% in the forecast period (2024-2034), with the market size valued at USD 0.63 billion in 2023 and projected t%li%reach USD 5.99 billion by 2034.
Membrane electrode assembly is a core component of proton exchange membrane fuel cells, which are widely used across various applications such as electric vehicles and stationary power generation. Membrane electrode assembly consists of multiple layers such as a proton exchange membrane, an anode catalyst layer, and a cathode catalyst layer, which aids in important operations in proton exchange membrane fuel cells. The proton exchange membrane acts as a selective barrier, allowing protons t%li%pass while blocking electrons, which makes it easier t%li%move hydrogen ions from the anode t%li%the cathode. In addition, platinum nanoparticles implanted in the anode catalyst layer accelerate the oxidation of hydrogen molecules t%li%protons and electrons. Similarly, platinum catalysts in the cathode catalyst layer stimulate the reduction of oxygen molecules, thereby allowing them t%li%combine with protons and electrons t%li%produce water. Furthermore, many research and development efforts are undergoing t%li%refine the structure of membrane electrode assembly for improving the performance and efficiency of proton exchange membrane fuel cells, which promote their adoption across various sectors.
MARKET HIGHLIGHTS
Membrane electrode assembly market is expected t%li%reach USD 5.99 billion, growing at a CAGR of 22.7% during the forecast period, due t%li%the growing adoption of proton exchange membrane fuel cells in multiple sectors, such as automotive, aerospace, and portable electronics. Proton exchange membrane fuel cells provide clean and efficient generation of energy with low emissions as compared t%li%conventional combustion-based systems, which promotes the demand for membrane electrode assembly t%li%power electric vehicles and backup power systems. Besides, several programs by the government t%li%support fuel cell technology and the increasing focus on renewable energy sources are other compelling reasons that encourage the adoption of the membrane electrode assembly market. Therefore, t%li%improve the performance and dependability of membrane electrode assembly, industry players are aggressively investing in research and development initiatives, which has resulted in competitiveness and new market prospects.
Membrane Electrode Assembly Market Segments:
- By Component
- Membranes
- Gas Diffusion Layers
- Gaskets
- Others
- By Application
- Proton Exchange Membrane Fuel Cells
- Direct Methanol Fuel Cells
- Electrolysers
- Others
Growth Drivers
High Demand for Clean and Renewable Energy Will Contribute t%li%Market Growth
Increasing Investment and Receiving Government Support Will Help the Market
Restraint
Higher Cost of Membrane Electrode Assembly is Expected t%li%be a Substantial Market Barrier
Key Players
- Ballard Power Systems
- Johnson Matthey
- 3M
- DuPont
- BASF
- Gore
- Tanaka Holdings
- Freudenberg
- ElringKlinger
- Plug Power
- SFC Energy AG
- Proton OnSite
- ITM Power
- Horizon Fuel Cell Technologies
- Guangdong Nationstar Hydrogen Technology
- Other Prominent Players (Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis)
- North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAG.R – United States and Canada
- Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – Mexico, Argentina, Brazil and Rest of Latin America
- Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey and Rest of Europe
- Asia Pacific Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia and Rest of APAC
- Middle East and Africa Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – North Africa, Israel, GCC, South Africa and Rest of MENA
- Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors
- Provision of market value (USD Billion) data for each segment and sub-segment
- Indicates the region and segment that is expected t%li%witness the fastest growth as well as t%li%dominate the market
- Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region
- Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled
- Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players
- The current as well as the future market outlook of the industry with respect t%li%recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions
- Includes in-depth analysis of the market of various perspectives through Porter’s five forces analysis
- Provides insight int%li%the market through Value Chain
- Market dynamics scenario, along with growth opportunities of the market in the years t%li%come
- 3-month post-sales analyst support.
1.EXECUTIVE SUMMARY
1.1. Regional Market Share
1.2.Business Trends
1.3. Membrane Electrode Assembly Market: COVID-19 Outbreak
1.4. Regional Trends
1.5. Segmentation Snapshot
2. RESEARCH METHODOLOGY
2.1.Research Objective
2.2. Research Approach
2.3. Data Sourcing and Methodology
2.4.Primary Research
2.5.Secondary Research
2.5.1.Paid Sources
2.5.2. Public Sources
2.6. Market Size Estimation and Data Triangulation
3. MARKET CHARACTERISTICS
3.1.Market Definition
3.2.Membrane Electrode Assembly Market: COVID-19 Impact
3.3. Key Segmentations
3.4.Key Developments
3.5.Allied Industry Data
4.MEMBRANE ELECTRODE ASSEMBLY MARKET – INDUSTRY INSIGHTS
4.1. Industry Segmentation
4.2.COVID-19 overview of world economy
4.3.Industry Ecosystem Channel Analysis
4.4.Innovation & Sustainability
5. MACROECONOMIC INDICATORS
6. RECENT DEVELOPMENTS
7. MARKET DYNAMICS
7.1.Introduction
7.2. Growth Drivers
7.3. Market Opportunities
7.4.Market Restraints
7.5. Market Trends
8.RISK ANALYSIS
9. MARKET ANALYSIS
9.1.Porter's Five Forces
9.2. PEST Analysis
9.2.1.Political
9.2.2. Economic
9.2.3. Social
9.2.4. Technological
10.MEMBRANE ELECTRODE ASSEMBLY MARKET
10.1.Overview
10.2. Historical Analysis (2019-2022)
10.2.1. Market Size, Y-o-Y Growth (%) and Market Forecast
11. MEMBRANE ELECTRODE ASSEMBLY MARKET SIZE & FORECAST 2024A-2034F
11.1. Overview
11.2.Key Findings
11.3.Market Segmentation
11.3.1.By Component
11.3.1.1. Membranes
11.3.1.1.1.By Value (USD Million) 2024-2034F
11.3.1.1.2. Market Share (%) 2024-2034F
11.3.1.1.3. Y-o-Y Growth (%) 2024-2034F
11.3.1.2.Gas Diffusion Layers
11.3.1.2.1. By Value (USD Million) 2024-2034F
11.3.1.2.2.Market Share (%) 2024-2034F
11.3.1.2.3.Y-o-Y Growth (%) 2024-2034
11.3.1.3.Gaskets
11.3.1.3.1. By Value (USD Million) 2024-2034F
11.3.1.3.2.Market Share (%) 2024-2034F
11.3.1.3.3.Y-o-Y Growth (%) 2024-2034F
11.3.1.4.Others
11.3.1.4.1. By Value (USD Million) 2024-2034F
11.3.1.4.2.Market Share (%) 2024-2034F
11.3.1.4.3.Y-o-Y Growth (%) 2024-2034F
11.3.2. By Application
11.3.2.1.Proton Exchange Membrane Fuel Cells (PEMFC)
11.3.2.1.1. By Value (USD Million) 2024-2034F
11.3.2.1.2.Market Share (%) 2024-2034F
11.3.2.1.3.Y-o-Y Growth (%) 2024-2034F
11.3.2.2. Direct Methanol Fuel Cells (DMFC)
11.3.2.2.1.By Value (USD Million) 2024-2034F
11.3.2.2.2. Market Share (%) 2024-2034F
11.3.2.2.3. Y-o-Y Growth (%) 2024-2034F
11.3.2.3. Electrolysers
11.3.2.3.1.By Value (USD Million) 2024-2034F
11.3.2.3.2. Market Share (%) 2024-2034F
11.3.2.3.3. Y-o-Y Growth (%) 2024-2034F
11.3.2.4. Others
11.3.2.4.1.By Value (USD Million) 2024-2034F
11.3.2.4.2. Market Share (%) 2024-2034F
11.3.2.4.3. Y-o-Y Growth (%) 2024-2034F
12.NORTH AMERICA MEMBRANE ELECTRODE ASSEMBLY MARKET SIZE & FORECAST 2024A-2034F
12.1.Overview
12.2. Key Findings
12.3. Market Segmentation
12.3.1. By Component
12.3.2.By Application
12.4. Country
12.4.1. United States
12.4.2. Canada
13.EUROPE MEMBRANE ELECTRODE ASSEMBLY MARKET SIZE & FORECAST 2024A-2034F
13.1.Overview
13.2. Key Findings
13.3. Market Segmentation
13.3.1.By Component
13.3.2.By Application
13.4.Country
13.4.1.Germany
13.4.2. United Kingdom
13.4.3. France
13.4.4. Italy
13.4.5. Spain
13.4.6. Russia
13.4.7. Rest of Europe (BENELUX, NORDIC, Hungary, Turkey & Poland)
14.ASIA-PACIFIC MEMBRANE ELECTRODE ASSEMBLY MARKET SIZE & FORECAST 2024A-2034F
14.1. Overview
14.2. Key Findings
14.3.Market Segmentation
14.3.1.By Component
14.3.2. By Application
14.4. Country
14.4.1.India
14.4.2. China
14.4.3. South Korea
14.4.4.Japan
14.4.5.Rest of APAC
15.MIDDLE EAST AND AFRICA MEMBRANE ELECTRODE ASSEMBLY MARKET SIZE & FORECAST 2024A-2034F
15.1.Overview
15.2. Key Findings
15.3. Market Segmentation
15.3.1.By Component
15.3.2.By Application
15.4.Country
15.4.1. Israel
15.4.2. GCC
15.4.3. North Africa
15.4.4.South Africa
15.4.5. Rest of Middle East and Africa
16. LATIN AMERICA MEMBRANE ELECTRODE ASSEMBLY MARKET SIZE & FORECAST 2024A-2034F
16.1.Overview
16.2. Key Findings
16.3. Market Segmentation
16.3.1. By Component
16.3.2.By Application
16.4.Country
16.4.1. Mexico
16.4.2. Brazil
16.4.3. Rest of Latin America
17. COMPETITIVE LANDSCAPE
17.1.Company market share, 2023
17.2. Key player overview
17.3. Key stakeholders
18. COMPANY PROFILES
18.1.Ballard Power Systems
18.1.1.Company Overview
18.1.2.Financial Overview
18.1.3.Key Product; Analysis
18.1.4.Company Assessment
18.1.4.1.Product Portfolio
18.1.4.2.Key Clients
18.1.4.3. Market Share
18.1.4.4. Recent News & Development (Last 3 Yrs.)
18.1.4.5. Executive Team
18.2. Johnson Matthey
18.3. 3M
18.4. DuPont
18.5. BASF
18.6. Gore
18.7. Tanaka Holdings
18.8. Freudenberg
18.9. ElringKlinger
18.10.Plug Power
18.11.SFC Energy AG
18.12. Proton OnSite
18.13. ITM Power
18.14.Horizon Fuel Cell Technologies
18.15. Guangdong Nationstar Hydrogen Technology
18.16. Other Prominent Players
19. APPENDIX
20.CONSULTANT RECOMMENDATION
1.1. Regional Market Share
1.2.Business Trends
1.3. Membrane Electrode Assembly Market: COVID-19 Outbreak
1.4. Regional Trends
1.5. Segmentation Snapshot
2. RESEARCH METHODOLOGY
2.1.Research Objective
2.2. Research Approach
2.3. Data Sourcing and Methodology
2.4.Primary Research
2.5.Secondary Research
2.5.1.Paid Sources
2.5.2. Public Sources
2.6. Market Size Estimation and Data Triangulation
3. MARKET CHARACTERISTICS
3.1.Market Definition
3.2.Membrane Electrode Assembly Market: COVID-19 Impact
3.3. Key Segmentations
3.4.Key Developments
3.5.Allied Industry Data
4.MEMBRANE ELECTRODE ASSEMBLY MARKET – INDUSTRY INSIGHTS
4.1. Industry Segmentation
4.2.COVID-19 overview of world economy
4.3.Industry Ecosystem Channel Analysis
4.4.Innovation & Sustainability
5. MACROECONOMIC INDICATORS
6. RECENT DEVELOPMENTS
7. MARKET DYNAMICS
7.1.Introduction
7.2. Growth Drivers
7.3. Market Opportunities
7.4.Market Restraints
7.5. Market Trends
8.RISK ANALYSIS
9. MARKET ANALYSIS
9.1.Porter's Five Forces
9.2. PEST Analysis
9.2.1.Political
9.2.2. Economic
9.2.3. Social
9.2.4. Technological
10.MEMBRANE ELECTRODE ASSEMBLY MARKET
10.1.Overview
10.2. Historical Analysis (2019-2022)
10.2.1. Market Size, Y-o-Y Growth (%) and Market Forecast
11. MEMBRANE ELECTRODE ASSEMBLY MARKET SIZE & FORECAST 2024A-2034F
11.1. Overview
11.2.Key Findings
11.3.Market Segmentation
11.3.1.By Component
11.3.1.1. Membranes
11.3.1.1.1.By Value (USD Million) 2024-2034F
11.3.1.1.2. Market Share (%) 2024-2034F
11.3.1.1.3. Y-o-Y Growth (%) 2024-2034F
11.3.1.2.Gas Diffusion Layers
11.3.1.2.1. By Value (USD Million) 2024-2034F
11.3.1.2.2.Market Share (%) 2024-2034F
11.3.1.2.3.Y-o-Y Growth (%) 2024-2034
11.3.1.3.Gaskets
11.3.1.3.1. By Value (USD Million) 2024-2034F
11.3.1.3.2.Market Share (%) 2024-2034F
11.3.1.3.3.Y-o-Y Growth (%) 2024-2034F
11.3.1.4.Others
11.3.1.4.1. By Value (USD Million) 2024-2034F
11.3.1.4.2.Market Share (%) 2024-2034F
11.3.1.4.3.Y-o-Y Growth (%) 2024-2034F
11.3.2. By Application
11.3.2.1.Proton Exchange Membrane Fuel Cells (PEMFC)
11.3.2.1.1. By Value (USD Million) 2024-2034F
11.3.2.1.2.Market Share (%) 2024-2034F
11.3.2.1.3.Y-o-Y Growth (%) 2024-2034F
11.3.2.2. Direct Methanol Fuel Cells (DMFC)
11.3.2.2.1.By Value (USD Million) 2024-2034F
11.3.2.2.2. Market Share (%) 2024-2034F
11.3.2.2.3. Y-o-Y Growth (%) 2024-2034F
11.3.2.3. Electrolysers
11.3.2.3.1.By Value (USD Million) 2024-2034F
11.3.2.3.2. Market Share (%) 2024-2034F
11.3.2.3.3. Y-o-Y Growth (%) 2024-2034F
11.3.2.4. Others
11.3.2.4.1.By Value (USD Million) 2024-2034F
11.3.2.4.2. Market Share (%) 2024-2034F
11.3.2.4.3. Y-o-Y Growth (%) 2024-2034F
12.NORTH AMERICA MEMBRANE ELECTRODE ASSEMBLY MARKET SIZE & FORECAST 2024A-2034F
12.1.Overview
12.2. Key Findings
12.3. Market Segmentation
12.3.1. By Component
12.3.2.By Application
12.4. Country
12.4.1. United States
12.4.2. Canada
13.EUROPE MEMBRANE ELECTRODE ASSEMBLY MARKET SIZE & FORECAST 2024A-2034F
13.1.Overview
13.2. Key Findings
13.3. Market Segmentation
13.3.1.By Component
13.3.2.By Application
13.4.Country
13.4.1.Germany
13.4.2. United Kingdom
13.4.3. France
13.4.4. Italy
13.4.5. Spain
13.4.6. Russia
13.4.7. Rest of Europe (BENELUX, NORDIC, Hungary, Turkey & Poland)
14.ASIA-PACIFIC MEMBRANE ELECTRODE ASSEMBLY MARKET SIZE & FORECAST 2024A-2034F
14.1. Overview
14.2. Key Findings
14.3.Market Segmentation
14.3.1.By Component
14.3.2. By Application
14.4. Country
14.4.1.India
14.4.2. China
14.4.3. South Korea
14.4.4.Japan
14.4.5.Rest of APAC
15.MIDDLE EAST AND AFRICA MEMBRANE ELECTRODE ASSEMBLY MARKET SIZE & FORECAST 2024A-2034F
15.1.Overview
15.2. Key Findings
15.3. Market Segmentation
15.3.1.By Component
15.3.2.By Application
15.4.Country
15.4.1. Israel
15.4.2. GCC
15.4.3. North Africa
15.4.4.South Africa
15.4.5. Rest of Middle East and Africa
16. LATIN AMERICA MEMBRANE ELECTRODE ASSEMBLY MARKET SIZE & FORECAST 2024A-2034F
16.1.Overview
16.2. Key Findings
16.3. Market Segmentation
16.3.1. By Component
16.3.2.By Application
16.4.Country
16.4.1. Mexico
16.4.2. Brazil
16.4.3. Rest of Latin America
17. COMPETITIVE LANDSCAPE
17.1.Company market share, 2023
17.2. Key player overview
17.3. Key stakeholders
18. COMPANY PROFILES
18.1.Ballard Power Systems
18.1.1.Company Overview
18.1.2.Financial Overview
18.1.3.Key Product; Analysis
18.1.4.Company Assessment
18.1.4.1.Product Portfolio
18.1.4.2.Key Clients
18.1.4.3. Market Share
18.1.4.4. Recent News & Development (Last 3 Yrs.)
18.1.4.5. Executive Team
18.2. Johnson Matthey
18.3. 3M
18.4. DuPont
18.5. BASF
18.6. Gore
18.7. Tanaka Holdings
18.8. Freudenberg
18.9. ElringKlinger
18.10.Plug Power
18.11.SFC Energy AG
18.12. Proton OnSite
18.13. ITM Power
18.14.Horizon Fuel Cell Technologies
18.15. Guangdong Nationstar Hydrogen Technology
18.16. Other Prominent Players
19. APPENDIX
20.CONSULTANT RECOMMENDATION
