The global direct methanol fuel cells market holds first-rate promise of growth in the next few years. According to volume-wise, the market of direct methanol fuel cells is anticipated to reach 92,000 units at the end of year 2016. The Development in the market have been driven primarily by the vast rise in the portable electronics devices owing to increasing consumer demand and the rising demand for longer-lasting power supplies. Strict environment sustenance-related regulations that require a reduction in productions of harmful gases from automobiles and manufacturing industries are also projected to drive the worldwide consumption of direct methanol fuel cell and helps to increase the number of applications where these cells are used. The Global Direct methanol fuel cell market is projected to grow at the CAGR of 15.3% during the forecasted period of 2016-2022. The market had generated a revenue more than $ 102.85 Million in 2014 and is anticipated to reach up to $ 321 million in 2022. The Global Direct methanol fuel cell market shows a huge growth in the coming years. The drivers which fuel the market are large Investments in Fuel Cell Development, Ease of Transport & Storage, High Energy Density of Direct Methanol Fuel Cells and More Reliable than Internal Combustion Engines. The Increasing demand for clean energy has been escorted by reduction of fossil fuels, which has shifted the focus toward direct methanol fuel cell markets. The direct methanol fuel cell market is still in its initial development phase in the various regions owing to slow infrastructure development for refilling of direct methanol fuel cells, usage of expensive materials for its manufacturing and technical limitations. Moreover, the momentous rise in research and development efforts in the past few decades has permitted outstanding progress in the field of direct methanol fuel cells, the electrochemical devices which helps to convert the energy of a chemical reaction directly to electrical energy, with effectively no pollution. The direct methanol fuel cell technology is measured an advance invention for portable energy delivery, which are effectively used in portable mobile devices such as tablets and smartphones. Higher energy densities and longer working durations of direct methanol fuel cell as compared to conventional batteries and the increasing use of mobile devices are some key factors that are anticipated to help fuel the demand for direct methanol fuel cell, globally. Looking at the continuous development in the direct methanol fuel cells industry the direct methanol fuel cells are projected to spectator decline in costs and become competitive with thin film batteries in the coming years.
The direct methanol fuel cell is segmented on the basis of application, component and type. On the basis of component, the market of direct methanol fuel cell is segmented as Direct Methanol Fuel Cells Electrode Market, Direct Methanol Fuel Cells Membrane Market, Direct Methanol Fuel Cells Balance of System Market and Direct Methanol Fuel Cells Balance of Stack Market. Similarly on the basis of Application the market of direct methanol fuel cell is segmented as Portable Direct Methanol Fuel Cells, Stationary Direct Methanol Fuel Cells and Transportation Direct Methanol Fuel Cells. Moreover, on the basis of type the market of direct methanol fuel cell is segmented as Polymer/Proton Exchange Membrane Fuel Cells (PEMFC), Solid Oxide Fuel Cells (SOFC), Phosphoric Acid Fuel Cells (PAFC), Molten Carbonate Fuel Cells (MCFC)
On the basis of geography, the market of direct methanol fuel cell is segmented as North America, Asia pacific, Europe and rest of the world. Asia-Pacific holds the leading market position for direct methanol fuel cell, due to significant investments in fuel cell technologies, especially in South Korea and japan. The governments of countries such as South Korea and japan are also been undertaking ingenuities to reduce requirement of fossil fuel and nuclear energy and move toward renewable energy. The countries, such as Malaysia, Indonesia, India and Singapore have started or are anticipated to start exclusive programs to promote direct methanol fuel fuel cells in regional markets.
Some of the major market players are A SFC Energy AG, Antig Technology Co. Ltd., Ballard Power Systems Inc., Bren-Tronics Incorporated, E. I. Du Pont De Nemours and Company, Fujikura Limited, Horizon Fuel Cell Technologies, Ird Fuel Cell A/S, Johnson Matthey, Meoh Power, Inc., Oorja Protonics Inc., Samsung SDI, Treadstone Technologies Inc., Viaspace Inc. Acquisition, mergers and innovation are the key strategies adopted by the market players to sustain in the market. For example in. In December 2014, DuPont team up with Ireland based Technology from Ideas (TFI) to develop a thermoplastic elastomers that will help to keep marine devices afloat. Similarly, in December 2014 DuPont collaborated with JA Solar, China based company that intends to use advanced materials from DuPont to help improve power output, durability and return on investment for solar energy systems.
