Direct Methanol Fuel Cells Market Highlights
Market Research Future projects a detailed report on the recent trends, various challenges faced, and the segments of the market on which Direct methanol fuel cells are based. It is reported there will be a striking upsurge at a considerable CAGR between 2017
Market Key Trends & Challenges
Direct methanol fuel cells (DMFC) are gaining momentum owing to the electrochemical energy conversion devices that transform the chemical energy of liquid methanol into electrical energy. These have been eminent factors driving the market to a great extent and propelling the market. The ability of DMFCs to be used as an alternative to the internal combustion engine (ICE) technology is also gathering much power. As they offer numerous benefits, such as low or even zero emissions, have thus influenced the market. Various advantages of such as eliminating the requirement for fuel reforming and hydrogen storage and using a liquid fuel for power are also noticeable in the process of growth of the market.
At the same time, more factors that are driving the direct methanol fuel cell (DMFC) market are characterized as industrialization in developing countries that has augmented the demand for clean energy, investments in fuel cell development, the density of high energy of DMFC, and reduction in emission of harmful gases from the automotive industries. In fact, fuel cells have innumerable advantages by conventional energy sources, such as internal combustion engines and batteries, which also comprise of the low temperature of fuel cells, zero pollution, and superior efficiency as related to diesel or gas engines. Some of the significant fuel cell technologies being developed globally also include hydrogen, solid oxide, phosphoric acid, and direct methanol fuel cells. These factors have been influencing the market to a great extent for some years and have made more opportunities for the market to expand considerably in the coming years.
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Segmentation of Market: Direct Methanol Fuel Cells
As per the study, the global direct methanol fuel cell (DMFC) market is segmented among the elements of type, component, application, and power output.
In terms of type: Electrode, membrane, the balance of system, and balance of stack are the segments.
The segmentation of components includes: Parallel flow field design and serpentine flow field design and are the segments.
The segmentation of applications includes: Stationery, Portable, and transportation are the segments.
The segmentation of power output: It comprises of less than 1KW, 1KW
Regional Framework
Geologically, the global direct methanol fuel cell (DMFC) market has been studied among the key regions of North America, Europe, Asia-Pacific, the Middle East & Africa, and South America.
As per the study, the Asia-Pacific region might hold a significant market share in the growth period for the market for witnessing the increase in energy demand due to the growing population and per capita. These factors are thus providing a vast market potential for the growth of clean energy in the region and motivating the Direct Methanol Fuel Cells Market Share expansion in a cleaner way. Further, as per the International Renewable Energy Agency (IRENA), the Asia-Pacific region gathered two-thirds of the growth in renewable energy installation capacity back in 2017. The rising demand for clean energy and the development in the fuel cell industry are the main cores that drive the growth of DMFCs in Asia-Pacific. Whereas in India, as per the ministry of new and renewable energy (MNRE), the country aims to achieve nearly 40% of its total energy generation from clean energy by 2030. Also, as per MNRE report 2016, the Government of India had set up the target to progress DMFCs in three phases such as Phase I (2016
Whereas North America leads in the global direct methanol fuel cells (DMFC) market on a regional analysis basis. The surge in demand for clean energy, investments in fuel cell development, the high energy density of DMFC, and lessening in the emission of harmful gases from the manufacturing and automotive industries. These are the highlights to drive the DMFC market in the region.
Key Market Players
The protuberant players involved in the global direct methanol fuel cell (DMFC) market study are listed as Fujikura Ltd (Japan), Antig Technology Co Ltd (Taiwan), Siqens GmbH (Germany), Oorja Corporation (US), Pro-Power Co Ltd (South Korea), SFC Energy AG (Germany), and Viaspace (US).
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