Direct Methanol Fuel Cells Market
Overview
Direct
Methanol Fuel Cells (DMFC) produces electric power by the direct conversion of
the methanol fuel at the fuel cells anode. These fuel cells are often used as
an efficient alternative to internal combustion engine as they offer benefits
such as zero emission with higher reliability. The growing demand for direct methanol fuel cells market is attributed to need for longer battery
life and capability to convert higher energy density fuel directly to
electricity. R&D initiatives to commercialize direct methanol fuel cells and
develop superior products is expected to create opportunity for the new
industry entrants as well as existing participants. One of the major restraints
for the global direct methanol fuel cells market is the low oil prices.
The
DFMCs have significant advantage over batteries such as conventional batteries
take hours to recharge whereas DFMCs can be refuelled within minutes. In
addition, research, and development work associated with fuel cells
technologies and government initiatives globally on reduction of green-house
gases emissions from power sector is likely to drive the direct methanol fuel
cells market.
Segmentation
The
direct methanol fuel cells market has been segmented based on component into
electrode, membrane, balance of system, and balance of stack. Among these
components, balance of system segment is the fastest growing segment in the
direct methanol fuel cells market as it widely used in power applications.
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.
Prominent Players
The
key players of the 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 Cells
Technologies (Singapore), Fujikura Ltd (Japan), Treadstone Technologies Inc.
(US), and Samsung SDI (South Korea), among others.
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