Direct Methanol Fuel Cells Market Scenario

Direct Methanol Fuel Cell (DMFC) is a power source for the portable devices that produces electric power by the direct conversion of the methanol fuel at the fuel cell anode. These fuel cells are a feasible alternative to other energy sources such as batteries and diesel-powered engines. Direct methanol fuel cells have applications spread across multiple industries. Major end-use industries include electronics, automotive, and industrial. DMFC has different types of applications, namely, stationary, portable, and transportation applications. These fuel cells can also be used in automobiles instead of conventional fuel and are termed to be more efficient and reliable.

Global Direct Methanol Fuel Cells market is expected to witness substantial growth during the forecast period owing to investment in cleaner energy sources in order to reduce carbon emission. Asia Pacific is the largest market for Direct Methanol Fuel Cells. High adoption of fuel cell technology in countries such as South Korea, India, and Japan is expected to drive the market for Direct Methanol Fuel Cells in this region.

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Key Players:

The key players of 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 Cell Technologies (Singapore), Fujikura Ltd (Japan), Treadstone Technologies Inc. (US), and Samsung SDI (South Korea), among others.

Industry Segmentation

Global Direct Methanol Fuel Cells market has been segmented based on type, component, application, and region. Based on component, the market is classified into electrode, membrane, balance of system, and balance of stack. The balance of system segment is expected to be the largest segment of Direct Methanol Fuel Cells, by component, in 2018. With increasing fuel cells in large power applications, there would be an increasing need for balance of system such as methanol cartridges, more air and water supply. This factor is expected to boost the demand for the balance of system component. The global Direct Methanol Fuel Cells market is further segmented based on application, including portable, stationary, and transportation. Portable segment of the global Direct Methanol Fuel Cells market is estimated to register the highest growth rate during the forecast period.

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Direct Methanol Fuel Cells Regional Market Analysis

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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