Strong electronics demand coupled with the need for clean energy is projected to positively impact the global direct methanol fuel cell (DMFC) market over the forecast period. Direct methanol fuel cell have applications spread across multiple industries. Major end-use industries include electronics, automotives and industrial. Direct methanol fuel cell have different types of applications, viz., stationary applications, portable applications and transportation applications. These cells have higher energy density than the conventional lithium ion batteries. Such superior characteristics are presumed to play a critical part in aiding the global market development. Favorable government initiatives and regulations favoring clean technology are touted to positively impact the direct methanol fuel cell market.
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Increasing R&D investment by companies for initiatives and commercialization of these cells is slated to further augment market. Direct methanol fuel cells can also be used in automobiles instead of conventional fuel and are termed to be more reliable and have better efficiency. Such characteristics are presumed to aid the global as well as regional DMFC markets. Storing methanol is relatively easy than other materials, which is also supposed to encourage product acceptance across industries and in turn compliment market growth. Rapidly growing personal electronic product consumption and the need for longer battery life and higher performance is projected to bolster the direct methanol fuel cell market. Technical limitations and expensive R&D initiatives are anticipated to hinder direct methanol fuel cell market over the next seven years. Other factors capable of negatively impacting the market are the high catalyst cost and a paucity of fuel distribution network. Emerging economies are expected to witness robust demand in areas such as automotives, electronics and industrial operations. These emerging economies such as China, India and Brazil offer ample opportunities for the industry participants. R&D initiatives to commercialize direct methanol fuel cell and develop superior products offer abundant opportunities for the new industry entrants as well as existing participants.
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Developing regions such as Asia Pacific and Latin America are presumed to witness rapid rise in DMFC end-use industries such as automotives, electronics and other industrial usage. These regional market show promising growth estimations and offer abundant opportunities for the industry participants. Currently, the DMFC market is at a nascent stage and is characterized by a handful of companies. High initial R&D costs are expected to ward off new entrants from entering the fuel cell industry. However, this scenario is expected to change once the technology commercializes and the initial investments decrease.
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