DMFC 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
2017–2024.
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.
As it is known that
DMFCs are epitome for small commercial vehicles such as tuggers, forklifts, and
consumer goods like digital cameras, mobile phones, as well as laptops as they
are gradually being used in military applications. The reason is the prominent
features such as low noise and thermal signatures and no toxic effluents, which
is making the market more valuable in the coming years.
At the same time, more
factors that are driving the 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.
On the other hand, in
recent years, owing to the escalating impact of emissions on the environment,
government organizations and numerous companies have actively started investing
heavily in fuel cell technology to develop technologically and financially
viable fuel cells. In a case of point, the Chinese government, in May 2019,
capitalized USD 296.42 million in Shouhang Ihw Resources Saving Technology Co.
Ltd for rooting three major hydrogen plants as well as nearly ten hydrogen
stations for vehicles in the Datong city, China. Also, Hyundai Motor
Corporation (South Korea) announced in May 2019 that it would be investing
about USD 6.7 billion to surge its production of fuel cells by about 200 times
by the year 2030. Such factors have been a substantial impact on the growth of
the market during the growth period.
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 – 5KW, and above 5KW as the
segments.
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
market 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 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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