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. Adapting
to the recent novel COVID-19 pandemic, the impact of the COVID-19
on Direct Methanol Fuel Cell Market is included in the present report.
The global Direct
Methanol Fuel Cells market 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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