Global Direct Methanol Fuel Cell (DMFC) Market
Analysis
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.
The
global Direct
Methanol Fuel Cells Market Share is projected to grow at a high rate
during the forecast period, mainly due to the ease of storage and
transportation of DMFC as storing methanol is relatively easy than other
materials, which is also supposed to encourage product acceptance across
industries and in turn compliment market growth.
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.
Reginal 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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