Pune, India, September 2019, MRFR Press Release/- Market Research Future has published a Cooked Research Report on the Global Direct Methanol Fuel Cells (DMFC) Market.
Direct methanol fuel cells (DMFC) is an electrochemical energy conversion device that converts the chemical energy of liquid methanol into electrical energy. DMFCs are used as an alternative to internal combustion engine (ICE) technology as they offer numerous benefits, including low or even zero emissions. They offer various advantages such as eliminating the requirement for fuel reforming and hydrogen storage and using a liquid fuel for power. DMFCs are ideal for small commercial vehicles such as forklifts and tuggers and consumer goods such as mobile phones, digital cameras, or laptops. They are increasingly being used in military applications due to features such as low noise and thermal signatures and no toxic effluents.
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The increase in the demand for clean energy, investments in fuel cell development, high energy density of DMFC, and reduction in emission of harmful gases from the manufacturing and automotive industries are expected to drive the market for DMFC market during the forecast period. The growing awareness of climate change has propelled the adoption rate of clean energy sources in the manufacturing and automotive industries. These industries are among the largest producers of greenhouse gases in the world, and their increasing emphasis on sustainable development has further increased the demand for fuel cells, including DMFCs. For instance, in August 2017, Innogy (Germany) inaugurated its first DMFC-powered marine vessel for commercial operations in Germany. As DMFC technology has been developing at a very high rate, and as the technology evolves, the use of DMFC is expected to reduce the emissions of harmful gases further. This is because the reaction in DMFC results in the production of water, carbon, and power. Thus, the reduction in the emission of harmful gases from the manufacturing and automotive industries is expected to increase the demand for DMFCs in the global market during the forecast period. Such factors are expected to drive the DMFC market during the forecast period.
Drivers: Global Direct Methanol Fuel Cell (DMFC) Market
Market Research Analysis
In terms of region, the global market for DMFCs is segmented into North America, Europe, Asia-Pacific, the Middle East & Africa, and South America. North America dominates the global direct methanol fuel cells (DMFC) market. The increase in the demand for clean energy, investments in fuel cell development, high energy density of DMFC, and reduction in emission of harmful gases from the manufacturing and automotive industries are expected to drive the DMFC market in the region.
Asia-Pacific is one of the largest markets for renewable energy sources in the world. With the increase in energy demand due to the growing population and per capita provides a huge market potential for the growth of clean energy in the region. As per the International Renewable Energy Agency (IRENA), Asia-Pacific accounts the two-thirds of the rise in renewable energy installation capacity in 2017. The increasing demand for clean energy and the development in the fuel cell industry drives the growth of DMFCs in Asia-Pacific. Moreover, China being the most populated country, is the fastest growing economy in the world. In June 2015, as per China’s Intended Nationally Determined Contributions (INDC), the country set up a target to increase the share of energy consumption by the non-fossil fuel energy source to 20% by 2030. In addition to this, Oorja Corporation (US), provided DMFCs to the country’s telecom sector for providing power to mobiles and mobile towers. Therefore, the increase in the demand for clean energy is expected to drive the growth of the DMFC market in China during the forecast period
Scope of the Report
This study provides an overview of the global DMFC market, tracking four market segments across five geographic regions. The report studies key players, providing a four-year annual trend analysis that highlights market size, and share for North America, Europe, Asia-Pacific, Middle East, and South America. The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the global DMFC market by Component, type, application, power output, and region.
By Power Output
The major players in the global direct methanol fuel cells (DMFC) market are SFC Energy AG (Germany), Oorja Corporation (US), Pro-Power Co Ltd (South Korea), Antig Technology Co Ltd (Taiwan), Fujikura Ltd (Japan), Siqens GmbH (Germany), and Viaspace (US).