Global Direct Methanol Fuel Cell Market: Key Highlights
Global Direct Methanol Fuel Cell Market: Key Market Dynamics
Global Direct Methanol Fuel Cell Market: Regional Overview
The growth of the DMFC market in North America can be attributed to the growing end-use industries. Increasing demand for fuel cells in the US owing to rising demand for the electric vehicles is a key driver for the market growth. Higher focus towards minimizing the environmental pollution with the strong foothold of the fuel cell in the region. Strategic initiatives undertaken by the US government to curb the air pollution through introduction of Zero Emission Vehicle Program is driving the market growth in North America. In addition to this, advanced technology Partial-ZEVs using methanol fuel cell is expected to upsurge the market growth.
Demand for the energy is growing and is constantly dependent on the imports to settle the energy needs. Constant efforts are being made to minimize the dependence on the imports, pushing towards higher need for energy generation in a clean manner. In Europe, the DMFC market is projected to witness upward movement owing to higher demand to control emissions. Increasing efforts by the European Automobile Manufacturers’ Association (ACEA), Hydrogen Europe and the International Road Transport Union (IRU) towards investing in order reduce emission and promote fuel cell electric vehicles is driving the market growth.
Global Direct Methanol Fuel Cell Market: Key Players Overview
Chung-Hsin Electric & Machinery Manufacturing Corporation, a Taiwan based company operates through its business line inclusive of Electric Power Equipment, System Integration, renewable energy, CNC business group, Parking Management Service. In 2016, the company acquired the Methanol Telecom Backup Power Business from the Ballard Power Systems at a purchase price of USD 6.1 million. In 2019, the company entered into partnership with the Plug Power Inc., a company offering hydrogen and fuel cell technology for supply of ProGen Engine for the ME2 methanol fuel cell system.
SFC Energy AG engages through offering energy solution and power management to the military and defense, oil and gas and industrial sectors along with the equipment and vehicles used for leisure and recreational activities. The company delivers the energy solution through either direct methanol or hydrogen fuel cells to promote green power generation. The company offers direct methanol fuel cell through the product range of EFOY including EFOY Comfort for household application, EFOY for industrial application and methanol fuel cell for military application
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