Direct Methanol Fuel Cell Market Overview:
Direct Methanol Fuel Cells Market is projected to arrive at a market size of USD 6.88 Billion by 2030, at a CAGR of 12.26% during the estimated time frame.
Our Market Overview and Regional Analysis provide an understanding of the industries, companies and products within the market. Our Trends section provides an analysis of how the market is currently performing and looks set to perform in the future. Our Growth Forecast section gives you an idea about how our Market Analysis works, by giving us further details on how we can build our Market Forecast model for a particular domain within this report. Lastly, in our Metrics section we outline important data points relating to each of these sections as well as our current forecasted price range.
Direct methanol fuel cells (DMFC) are electrochemical devices capable of generating electricity by converting methanol fuel at the anode. It was developed to eliminate the need of a reformer for conversion of methanol to hydrogen. The global direct methanol fuel cells market report by Market Research Future (MRFR) covers salient aspects such as opportunities, drivers, restraints, and challenges for the period of 2022 to 2030 (forecast period). MRFR is a premier market research firm with an exceptional record of doling out annual reports on major end-use industries.
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Segmentation
Based on type, the global market has been segmented into electrode, balance of stack, balance of system, and membrane.
On the basis of component, the global market has been divided into serpentine flow field design and parallel flow field design. The serpentine flow field design is estimated to garner huge demand owing to its performance and robustness. It can reduce the probability of flooding and well suited for large and small membrane areas.
Based on application, the global market has been segmented into transportation, portable, and stationary. The stationary segment is set to lead in the market owing to applications in off-grid power, telecommunications, and defense sectors. The use of polymers for manufacturing bipolar plates for uniform distribution of fuel and air while conducting electrical current can drive its demand.
Based on power output, the global market has been segmented into less than 1KW, 1KW – 5KW, and above 5KW.
Regional Analysis
North America, Asia Pacific (APAC), Europe, and Rest-of-the-World (RoW) are major regions analyzed for measuring the growth of the global direct methanol fuel cells market.
APAC is predicted to hold a large market share and dominate the global market till the end of the forecast period. Increasing energy demand, growing population, and rise in expendable income levels of citizens are major drivers of the regional market. The focus on generating clean and renewable energy is estimated to drive the market penetration rate. According to the International Renewable Energy Agency, APAC possesses close to two-thirds of renewable energy installations in 2017. This is expected to bode well for the market as more clients look for alternatives to fossil fuels and lower carbon emissions.
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Competitive Scope
Oorja Corporation, Viaspace, Siqens GmbH, Fujikura Ltd, Antig Technology Co Ltd, Pro-Power Co Ltd, and SFC Energy AG are major manufacturers of the global direct methanol fuel cells market.
Industry News
Karma Automotive has collaborated with Blue World Technologies for developing a fuel cell system capable of being compatible with future passenger and light commercial vehicles. It uses a polymer electrolyte membrane (PEM) for converting methanol to hydrogen. The company plans to test the fuel cell system in its latest vehicle, GS-6 plug-in hybrid.
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