Direct methanol fuel cells (DMFC) is an
attractive source of energy for mobiles, portable, and stationary applications.
Its main advantage is ease of transport with no complicated storage mechanism.
DMFCs have higher energy density compared to conventional lithium ion
batteries. Such superior characteristics are presumed to play a critical part
in aiding the global market development. Favorable government initiatives and
regulations related to clean energy would further have a positive impact on
direct methanol fuel cells market.
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Industry
Segmentation
Global Direct Methanol Fuel Cells market
has been segmented based on type, component, application, and region.
Based on component, the market is
classified into electrode, membrane, balance of system, and balance of stack.
The balance of system segment is expected to be the largest segment of Direct
Methanol Fuel Cells, by component, in 2018. With increasing fuel cells in large
power applications, there would be an increasing need for balance of system
such as methanol cartridges, more air and water supply. This factor is expected
to boost the demand for the balance of system component.
The global Direct Methanol Fuel Cells
market is further segmented based on application, including portable,
stationary, and transportation. Portable
segment of the global Direct Methanol Fuel Cells market is estimated to
register the highest growth rate during the forecast period.
Based on component, the market is
segmented the market is classified into electrode, membrane, balance of system,
and balance of stack. Balance of System segment is estimated to dominate the
market during the forecast period due to increasing use of fuel cells in large
power applications wherein there is an increased need for balance of system
such as methanol cartridges. Considering the application, the market is
segmented as portable, stationary, and transportation.
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Regional
Outlook
Region wise, Asia Pacific held the largest
market share of the global Direct Methanol Fuel Cells market in 2017. It is
estimated that Asia-Pacific region would be the fastest growing market during
the forecast period, mainly due to the rising investment in railway sector,
rising urbanization and proliferation of electrification. Europe region holds
significant market share and is expected to dominate the global Direct Methanol
Fuel Cells market in terms of revenue contribution. Germany is leading country
contributing to the growth of the European market. The market is mainly driven
by factors such as the gradual shift from diesel-based to diesel-electric
locomotives and electric locomotives.
Key
Players
The key players of the global Direct
Methanol Fuel Cells market Antig Technology Co.,Ltd. (Taiwan), SFC Energy AG
(Germany), Ballard Power Systems (Canada), Oorja Corporation (US), Meoh Power,
Inc. (US), Horizon Fuel Cells Technologies (Singapore), Fujikura Ltd (Japan),
Treadstone Technologies Inc. (US), and Samsung SDI (South Korea), among others.
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