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 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.
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.
Segmentation
The DMFC
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.
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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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