Global Direct Methanol Fuel Cells Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2028
“Global Direct Methanol Fuel Cells Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2028” is a recent report generated by MarketResearch.biz. The global direct methanol fuel cells market report has been segmented on the basis of component, application, and region.
Global Direct Methanol Fuel Cells Market: Overview
Methanol is inexpensive but has a relatively high energy density and can be easily transported and stored. It can be supplied to fuel cell unit from a liquid reservoir which can be kept topped up or in cartridges which can be quickly changed out when spent. Direct methanol fuel cell (DMFC) is considered as a promising power source for next-generation portable electronics, owing to its characteristics such as a high energy density, green emission, convenient refueling of liquid fuel, and ambient operation conditions.
Global Direct Methanol Fuel Cells Market: Dynamics
Rapid industrialization in developed and developing countries and technological advancements for the development of alternative power source are major factors expected to drive growth of the global market. In addition, high disposable income, increasing spending capacity, and rising number of mobile phone users across the globe is resulting in increasing demand for portable chargers which in turn is expected to support boost growth of the target market over the forecast period.
Moreover, increasing demand for direct methanol fuel cell products from transportation sector, owing to various benefits offered such as high fuel energy density, facile liquid fuel storage, and low working temperature is another factor expected to further support growth of the target market to certain extent. In addition, increasing government approach towards adoption of clean alternate energy source in order to reduce carbon foot-prints is another factor expected to further support growth of the global market.
However, technological difficulties such as issues related to design, fabrication, and operation of power systems is a major factor expected to hamper growth of the global market. In addition, high manufacturing cost is another factor expected to challenge growth of the target market to certain extent.
Increasing investment by major players for R&D activates and technological advancements in order to overcome the technical glitch and reduce manufacturing cost are expected to create potential revenue opportunities for players operating in the target market over the forecast period. In addition, increasing strategic expansion activates through mergers and partnerships in order to increase profit share is expected further support growth of the target market to certain extent.
Global Direct Methanol Fuel Cells Market: Segment
Among the components segments, the electrode segment is expected to dominate in the target market over the forecast period.
Among the application segments, the portable segment is expected to dominate in the target market over the forecast period.
Global Direct Methanol Fuel Cells Market: Region
The market in Asia Pacific is expected to dominate in the global market and is expected to continue its dominance over the forecast period. This can be attributed to increasing investment for technological advancements, increasing demand for direct methanol fuel cells by various end use industries such as automotive and electronics, and presence of major manufacturers operating in emerging economies in this region.
The markets in North America and Europe are expected to contribute significant revenue shares in the global market over the forecast period.
Global Direct Methanol Fuel Cells Market Segmentation
Segmentation by component:
- Balance of System
- Balance of Stack
Segmentation by application:
Segmentation by region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Particular Scope Region
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
Actual Year 2019 Estimated Year 2020 Forecast Period 2020–2029 Revenue in US$
- Viaspace Inc.
- Antig Technology Co. Ltd.
- CMR Fuel Cells PLC
- Neah Power Systems, Inc.
- Oorja Protonics, Inc.
- PolyFuel, Inc.
- Toshiba Corp.
- Samsung SDI Co. Ltd.
- IdaTech LLC
- Dupont Fuel Cell
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