Direct Methanol Fuel Cells Market Scenario
Direct Methanol Fuel Cell (DMFC) is a power source for
the portable devices that produces electric power by the direct conversion of
the methanol fuel at the fuel cell anode. These fuel cells are a feasible
alternative to other energy sources such as batteries and diesel-powered
engines. Direct methanol fuel cells have applications spread across multiple
industries. Major end-use industries include electronics, automotive, and
industrial. DMFC has different types of applications, namely, stationary,
portable, and transportation applications. These fuel cells can also be used in
automobiles instead of conventional fuel and are termed to be more efficient
and reliable.
Global Direct Methanol Fuel Cells market is expected
to witness substantial growth during the forecast period owing to investment in
cleaner energy sources in order to reduce carbon emission. Asia Pacific
is the largest market for Direct Methanol Fuel Cells. High adoption of fuel
cell technology in countries such as South Korea, India, and Japan is expected
to drive the market for Direct Methanol Fuel Cells in this region.
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Key Players:
The key players of global Direct Methanol Fuel Cells
market are Antig Technology Co.,Ltd. (Taiwan), SFC Energy AG (Germany), Ballard
Power Systems (Canada), Oorja Corporation (US), Meoh Power, Inc. (US), Horizon
Fuel Cell Technologies (Singapore), Fujikura Ltd (Japan), Treadstone
Technologies Inc. (US), and Samsung SDI (South Korea), among others.
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.
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Direct Methanol Fuel Cells Regional Market Analysis
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.
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