GAS DIFFUSION LAYER MARKET ANALYSIS
Global gas diffusion layer market was valued at US$ 510.13 Million in 2021 in terms of revenue, exhibiting a CAGR of 26.09% during the forecast period (2022 to 2030).
Market Trends
Adoption of several marketing strategies by the key players have seen a major growth in the market. Key players are focusing on strategies such as mergers, acquisitions, and capacity expansions to increase their geographical reach and widen their product portfolio in the global gas diffusion layer market. For instance, in March 2020, Toray Industries, Inc. 's Germany-based subsidiary, Greenerity, constructed its second factory in Bavaria, Germany. This new facility manufactures, develops, and distributes essential parts for hydrogen fuel cells and water electrolyzers.
On the basis of application, in 2021, hydrogen/oxygen air fuel cells segment held largest revenue share of 38.7% in global gas diffusion layer market. Being a carrier of energy, hydrogen fuel cells can be applied in a variety of use cases. Typical applications of fuel cell can be categorized into two major types: stationary power transportation and other applications including portable power. Governments across the globe are taking initiatives to promote hydrogen fuel cells for transportation.
Figure 2. Global Gas Diffusion Layer Market Value Share (%), By Application, 2021
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