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 DMFC
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.
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.
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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