New York, NY, Feb. 28, 2019 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “Direct Methanol Fuel Cells Market by Component (Electrode, Membrane, Balance of System, and Balance of Stack) and by Application (Portable, Stationary, and Transportation): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2025”. According to the report, the global direct methanol fuel cells market was valued at approximately USD 137 million in 2018 and is expected to generate around USD 367 million by 2025, at a CAGR of around 15.13% between 2019 and 2025.
The high demand for clean and green energy for sustainability and the eco-friendly environment is mainly driving the direct methanol fuel cells market growth. This rising awareness among the people is fuelling the demand for clean energy, which, in turn, has led consumers to shift their focus on fuel cell technology as the prominent source of power generation. Direct methanol fuel cells emit lesser pollutants as compared to the traditional fuel cells, as they have the capability to use less than 50% energy. Furthermore, the increasing acceptance of direct methanol fuel cells in the consumer electronic goods and portable devices will also boost the direct methanol fuel cells market in the upcoming years. Additionally, direct methanol fuel cells can be easily stored and transported to the desired places.
Browse through 29 Tables & 17 Figures spread over 110 Pages and in-depth TOC on “Global Direct Methanol Fuel Cells Market: Industry Size, Share, Components, Segments Analysis and Forecast, 2018–2025”.
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These attributes of direct methanol are further going to foster the direct methanol fuel cells market in the future. Increasing R&D investments made by organizations for initiatives and commercialization of direct methanol fuel cells is likely to drive the market over the estimated timeframe. Direct methanol fuel cell technology is utilized to power consumer, portable devices. Large-scale acceptance of these fuel cells will have a positive market impact. However, the high product toxicity and flammable attributes of methanol may hinder the direct methanol fuel cells market growth in the future.
By component, the market includes an electrode, membrane, the balance of system, and balance of stack. The balance of the system segment is expected to dominate the market in the future, owing to the growing use of fuel cells in large power applications. Based on application, the direct methanol fuel cells market is divided into portable, stationary, and transportation. The portable segment is expected to dominate the direct methanol fuel cells market, owing to the utilization of higher energy density fuel, i.e. methanol, which is a potential replacement for nickel cadmium or lithium ion batteries.
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By region, the North American direct methanol fuel cells market held an extensive revenue share in 2018 and is anticipated to dominate in the upcoming years as well. This growth can be attributed to the increasing demand for clean energy solutions. The growing product popularity in the region is mainly due to the rapid depletion of fossil fuels and a shift in focus on greener energy solutions.
The Asia Pacific direct methanol fuel cells market is projected to grow at the highest rate over the forecast timeframe, owing to the rising adoption of fuel cell technology in Japan and South Korea. These two nations have planned to minimize the practice of using nuclear energy, thereby leading to increased growth opportunities for alternate power sources, which is a big boost for this regional market growth.
Browse the full “Direct Methanol Fuel Cells Market by Component (Electrode, Membrane, Balance of System, and Balance of Stack) and by Application (Portable, Stationary, and Transportation): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2025” Report at https://www.zionmarketresearch.com/report/direct-methanol-fuel-cells-market
The European region is expected to provide significant growth opportunities in the global direct methanol fuel cells market over the estimated timeframe. The rising number of government rules and regulations is likely to stimulate this regional. According to the European Commission’s 2020 climate and energy package, the region is going to reduce its greenhouse gas emissions by 20% in 2020 as compared to the GHG emission levels in 1990.
Some key industry players operating in the global direct methanol fuel cells market include Viaspace Inc., Antig Technology Co. Ltd., CMR Fuel Cells, Neah Power Systems, Inc., Oorja Protonics, Inc., PolyFuel, Inc., Toshiba Corp., Samsung SDI Co. Ltd., IdaTech LLC, Dupont Fuel Cell, Ultracell Corp., Fujikura Ltd., MTI Micro Fuel Cells Inc., and Panasonic Corp., among others.
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This report segments the global direct methanol fuel cells market as follows:
Global Direct Methanol Fuel Cells Market: Component Analysis
- Electrode
- Membrane
- Balance of System
- Balance of Stack
Global Direct Methanol Fuel Cells Market: Application Analysis
- Portable
- Stationary
- Transportation
Global Direct Methanol Fuel Cells Market: Regional Analysis
- North America
- The U.S.
- Europe
- UK
- France
- Germany
- Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- The Middle East and Africa
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