The Global Direct Methanol Fuel Cell Market is projected to reach a value of over USD 320.6 Million by 2027 at a CAGR of over 8.5%.
Direct Methanol Fuel Cell (DMFC) is the electrochemical device or polymer membrane fuel cell that operates through conversion of the methanol derived chemical energy into the electricity. It is an environmental friendly alternative to the conventional methods as it emits very low amount of CO2 and waste heat along with water vapor. DMFC has gained popularity owing to higher efficiency, rapid refueling, and longer operation time owing to higher energy density of methanol. Due to this advantages, DMFC is rapidly adopted in the automotive, marine, consumer electronics and military application.
Market Driver:
The DMFC is the promising source of cleaner power generation as it uses method for production of electricity and emits less amount of CO2, a greenhouse gas. Changing global climate and increasing global warming, is driving the demand for the sustainable power generation. Growing global population resulting into higher energy demand, with favorable government support to promote energy generation in cleaner way is further fueling the demand for the DMFC. Ongoing industrialization, growing demand for electrically powered devices and vehicles is generating higher energy demand, which is expected to boost the market growth in the years to follow.
With ongoing digitization globally, the demand for the electronic devices has been escalated in past few years. Rising usage of smart phones, laptops, tablets and other devices, an outcome of higher internet penetration is driving the growth of this market. Additionally, advantages associated with the portable devices are easy to carry, compact, and emerging advanced technologies is driving the demand for the portable devices, which is further fueling the market growth
Market Restraint:
The growth of the DMFC market is expected to hamper owing to high cost of the DMFC. The high cost of the DMFC is mainly due to the expensive materials such as platinum and platinum-based alloys contributing to escalated cost per kilowatt. The cost of the DMFC is further piled up owing to the high cost of the catalyst, membrane, electrode, and bi-polar plates.
The report on the direct methanol fuel cell market covers a deep dive analysis of historic, recent and current market trends. Furthermore, market share/ranking analysis of key players, market dynamics, competition landscape, country-wise analysis for each region covered and the entire supply chain dynamics are covered through the below segmentation.
Report Features |
Specifics |
---|---|
Historical/Estimated/Forecasted Market Size Years |
2018-2027 |
Base Year for Market Calculation |
2019 |
Forecasted Period |
2020-2027 (2020 estimated year, forecasted up to 2027) |
Measured Units |
Value (USD Million) Volume (Units) |
Segments Included |
Component and Application |
Regional Coverage |
North America, Asia-Pacific, Europe, Middle East & Africa, South Africa |
For the scope of the report, In-depth segmentation is offered by Forencis Research
Direct Methanol Fuel Cell Market, by Component
Direct Methanol Fuel Cell Market, by Application
Direct methanol fuel cell Market, by Region
60+ MARKET TABLES AND 30+ FIGURES WILL BE INCLUDED IN THE DIRECT METHANOL FUEL CELL MARKET STUDY
Note1: Tentative table of contents, may get updated during the course of research.
Note2: Company financial information is subject to availability in public domain
60+ MARKET TABLES AND 30+ FIGURES WILL BE INCLUDED IN THE STUDY