Pune, March 01, 2022 (GLOBE NEWSWIRE) -- The Global Direct Methanol Fuel Cell Market size reached USD 1.73 million in 2020. The market is valuation predicted to rise from USD 2.00 million in 2021 to USD 5.85 million in 2028 at a CAGR of 16.6% during the assessment period. The growing shift towards cleaner energy sources and high feasibility of methanol as a fuel source are driving the market growth, states Fortune Business Insights™ in its report titled “Direct Methanol Fuel Cell Market, 2021-2028”.
Direct methanol fuel cell (DMFC) is a prominent fuel cell technology that generates power by using methanol as fuel. The high energy density of methanol makes it easy to transport and supply as required. It is generally mixed with water and fed to the catalyst components. DMFC powers portable, stationary, and transportation applications. Mobiles, laptops, and other electronics are also key areas of application for the technology.
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Companies Operating in Direct Methanol Fuel Cell Market Report:
- SFS Energy AG (Germany)
- Blue World Technologies (Denmark)
- Oorja Photonics Inc., (U.S.)
- Meoh Power (U.S.)
- Viaspace (U.S.)
- Roland Gumpert (Germany)
- Fujikura Limited (Japan)
- Antig Technology (Taiwan)
- Treadstone Technologies (U.S.)
- Horizon Fuel Cell Technologies (Singapore)
Direct Methanol Fuel Cell Market Report Scope & Segmentation
| Report Coverage | Details |
| Forecast Period | 2021 to 2028 |
| Forecast Period 2021 to 2028 CAGR | 16.6% |
| 2028 Value Projection | USD 5.85 Million |
| Base Year | 2020 |
| Market Size in 2020 | USD 1.73 Million |
| Historical Data for | 2017 to 2019 |
| No. of Pages | 180 |
| Segments covered | Major growth drivers, Restraints, Opportunities, and potential challenges |
| Growth Drivers | Durability and Feasibility of DFMC to Accelerate Market Growth |
| North America to Dominate Global Share Led by Advances in Fuel Cell Technologies | |
| Collaborative Agreements among Players to Boost Their Brand Values in Market |
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COVID-19 Impact
Disruptions Across Key Verticals Impacted Product Demand during Pandemic
The coronavirus pandemic significantly impacted the global economy, leading to several disruptions in the worldwide energy sector. Mobility restrictions, shutdown of industries, and other factors caused several roadblocks to DMFC deployment. However, recovery of different industries in the near future will power direct methanol fuel cell market growth.
To get to know more about the short-term and long-term impact of COVID-19 on this market, please visit: https://www.fortunebusinessinsights.com/industry-reports/direct-methanol-fuel-cells-market-100779
Segments
Based on components, the market is segmented into bipolar plates, catalyst, current collector, and membrane.
In terms of applications, the market is classified into stationary, portable, and transportation.
By geography, the market divided into North America, Europe, Asia Pacific, and the Rest of the World.
Report Coverage
The report offers:
- Major growth drivers, restraints, opportunities, and potential challenges for the market.
- Comprehensive insights into the global as well as regional developments.
- List of key industry players.
- Major strategies adopted by the market players.
- Latest industry developments include product launches, partnerships, mergers, and acquisitions.
Drivers & Restraints
Durability and Feasibility of DFMC to Accelerate Market Growth
DMFC operates without any parts, leading to quieter operation compared to gas turbine engines or combustion engines. It also requires low maintenance as there is hardly any mechanical friction that could lead to wear and tear. Additional benefits of the technology include low downtime and fewer operating costs, leading to significant cost savings in the long run. DMFC technology is highly feasible and can be combined with sustainable technologies such as solar panels. These factors make it a highly sought-after energy technology.
However, high initial cost of the technology and availability of alternative solutions could hamper its adoption slightly.
Regional Insights
North America to Dominate Global Share Led by Advances in Fuel Cell Technologies
North America is projected to dominate direct methanol fuel cell market share during 2021-2028. U.S. and Canada are making active efforts in the development of advanced fuel cell technologies. Rising R&D expenditure in these countries to accelerate progress towards more efficient fuel cell technologies will strengthen the regional outlook significantly.
The European market is growing on account of growing clean energy adoption in the region. The regional DMFC companies are witnessing lucrative opportunities. For instance, in April 2021, SFC Energy AG joined the European Clean Hydrogen Alliance to accelerate opportunities and efforts to decarbonize the EU economy.
Meanwhile, the market in Asia Pacific will expand due to shifting inclination towards cleaner technologies. In 2020, Japan and Australia signed a memorandum of cooperation to develop fuel cell and hydrogen technologies to decarbonize their energy sector.
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Competitive Landscape
Collaborative Agreements among Players to Boost Their Brand Values in Market
Important companies operating in the market are continually rooting for efficient tactics to endorse their products and establish their positions in the market. One such stratagem is to launch inventive products by teaming up with other companies to expand their reach to end-users.
Industry Development
October 2021 - SFC Energy selected PETRONAS Chemicals Group (PSG) Berhad as their new methanol supplier across Asia Pacific. The partnership would enable customers of SFC’s EFOY fuel cells to source commercial methanol more effectively.
Major Table of Contents:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions & Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Key Emerging Trends – For Major Countries
- Latest Technological Advancement
- Insight on Regulatory Landscape
- Industry SWOT Analysis
- Porters Five Forces Analysis
- Qualitative Analysis – Impact of COVID-19
- Impact of COVID-19 on the Direct Methanol Fuel Cell Market
- Steps Taken by the Government to Overcome the Impact
- Key Developments in the Industry in Response to COVID-19
- Potential Opportunities and Challenges due to COVID-19 Outbreak
- Global Direct Methanol Fuel Cell Market (USD Million) Analysis, Insights, and Forecast, 2017-2028
- Key Findings
- Market Analysis, Insights and Forecast – By Components
- Bipolar Plates
- Current Collector
- Catalyst
- Membrane
- Market Analysis, Insights, and Forecast – By Application
- Portable
- Transport
- Stationary
- Market Analysis, Insights, and Forecast – By Region
- North America
- Europe
- Asia Pacific
- Rest of the World
- North America Direct Methanol Fuel Cell Market (USD Million) Analysis, Insights, and Forecast, 2017-2028
- Key Findings
- Market Analysis, Insights and Forecast – By Components
- Bipolar Plates
- Current Collector
- Catalyst
- Membrane
- Market Analysis, Insights, and Forecast – By Application
- Portable
- Transport
- Stationary
- Market Analysis, Insights and Forecast – By Country
- US Market Analysis, Insights and Forecast – By Components
- Bipolar Plates
- Current Collector
- Catalyst
- Membrane
- Canada Market Analysis, Insights and Forecast – By Components
- Bipolar Plates
- Current Collector
- Catalyst
- Membrane
- US Market Analysis, Insights and Forecast – By Components
- Europe Direct Methanol Fuel Cell Market (USD Million) Analysis, Insights, and Forecast, 2017-2028
- Key Findings
- Market Analysis, Insights and Forecast – By Components
- Bipolar Plates
- Current Collector
- Catalyst
- Membrane
- Market Analysis, Insights, and Forecast – By Application
- Portable
- Transport
- Stationary
- Market Analysis, Insights, and Forecast – By Country
- UK Market Analysis, Insights and Forecast – By Components
- Bipolar Plates
- Current Collector
- Catalyst
- Membrane
- Germany Market Analysis, Insights and Forecast – By Components
- Bipolar Plates
- Current Collector
- Catalyst
- Membrane
- France Market Analysis, Insights and Forecast – By Components
- Bipolar Plates
- Current Collector
- Catalyst
- Membrane
- Italy Market Analysis, Insights and Forecast – By Components
- Bipolar Plates
- Current Collector
- Catalyst
- Membrane
- UK Market Analysis, Insights and Forecast – By Components
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