Direct methanol fuel cell has solidified its market stance as a power source for portable devices where the direct conversion of the methanol fuel ensures power supply. The type is getting advantages across sectors owing to its feasibility and has emerged as the chief competitor for batteries and diesel-powered engines.
Factors that are expected to influence the global direct methanol fuel cells market are ease of transportation & packaging, hike in investment, research & development support in commercialization of products, increasing intake of the product in large power applications, and stringent regulations that bars the use of natural power sources. These factors could act as a catalyst in the expansion of the global direct methanol fuel cell market.
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The global direct methanol fuel cells market, as reported by MRFR in their recent study, has been segmented by type, component, and application. The study has its roots in intense factual and figure-led analysis of the market.
By component, the direct methanol fuel cells market includes electrode, membrane, balance of system, and balance of stack. The balance of system segment was accounted for the largest share in the global in 2018. This segment is expected to witness traction in the future due to the increasing use of fuel cells in large power applications as methanol cartridges in air and water supply.
By application, the global direct methanol fuel cells market includes application, including portable, stationary, and transportation. The portable segment has the maximum market penetration and is expected to register the highest growth rate over the review period.
North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America are five regions that have been included in a detailed study for the global direct methanol fuel cells market. This region-specific study is to understand the scope for future expansion plans.
The APAC region has the complete dominance over the market and it is expected to show the fastest growth rate during the forecast period as well. The region is thriving on the recent investments made by several governments to improve the infrastructure. This has also scored well with foreign investors and regional industries are getting substantial traction. Various companies in different verticals are making moves that are impacting the intake of such direct methanol fuel cells. More than anything else, the burgeoning railway sector, urbanization, and increasing electrification are the reasons to impact the market the most.
Europe is also enjoying much prominence and its revenue contribution has increased considerably in the past few years. The regional market is gaining much from the shift in diesel-based vehicles to diesel-electric locomotives and electric locomotives.
The global direct methanol fuel cells market is thriving on the strategic implementations made by market titans. These tactical moves often include merger, acquisition, product launch, innovation, and others. MRFR, while discussing the market in their latest report pprofiled top-notch companies like SFC Energy AG (Germany), Samsung SDI (South Korea), Antig Technology Co.,Ltd. (Taiwan), Oorja Corporation (US), Ballard Power Systems (Canada), Horizon Fuel Cell Technologies (Singapore), Meoh Power, Inc. (US), Treadstone Technologies Inc. (US), Fujikura Ltd (Japan), and others for a better grip on the predictive analysis.
Industry Related News:
In December 2018, Ecoletro Inc. a company that is known for its low-cost, high-performance polymer for the electrochemical application segment, has been selected by the US Department of Energy for their Advanced Research Projects Agency-Energy (ARPA-E). The study should allow in depth analysis of the alkaline exchange ionomers and membranes. This would also help in the understanding of fuel cells sourced from alcohol group such as methanol.
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