Increasing Demand For Clean Way Of Energy Generation Is Expected To Drive The Direct Methanol Fuel Cell Market Growth

Direct Methanol Fuel Cell Market Size, Share, Trends, Growth, Analysis, Research

Global Direct Methanol Fuel Cell Market: Key Highlights

  • According to the new market research report Direct Methanol Fuel Cell Market by Type (Proton Conducting Membrane, Electrodes, Membrane Electrode Assembly and Porous Transport Layers), by Application (Consumer Electronics, Transportation and Military Equipment),  by Region (Asia Pacific, Europe, Middle East & Africa, South America, North America) – Global Forecast (2020 to 2027)”, the global direct methanol fuel cell market is estimated to reach USD 6 Billion by 2027 at a CAGR of around 5.4% during the review period
  • The growth of the DMFC market is mainly attributed to the rising demand for the clean power source for energy generation
  • Higher demand for the portable devices worldwide as they are easy to carry is fueling the demand for DMFC
  • DMFC market growth is mainly hampered owing to higher cost of the DMFC components

Direct Methanol Fuel Cell Market

Global Direct Methanol Fuel Cell Market: Key Market Dynamics

  • Increasing demand for the clean power generation source in order to minimize the environmental degradation caused by conventional power generation method is driving the market growth
  • Increasing demand for the portable devices such as smart phones and tablets among others is escalating the demand for DMFC
  • Higher cost of the DMFC membrane, catalyst, bi-polar plates, and other components is hampering the growth of this market
  • Technological advancement leading to emergence of DMFC driven electric vehicles is creating new growth avenues for the DMFC market
  • However, lack of supportive infrastructure for the DMFC is acting as a key challenge for the market growth

Global Direct Methanol Fuel Cell Market: Regional Overview

  • North America

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.

  • Europe

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 (CHEM):

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:

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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Published : 2020-02-10