The Direct
Methanol Fuel Cells (DMFC) market is expected to reach a size of USD 188.82
million by 2020, at a CAGR of 15.3% from 2015 to 2020. The demand for DMFCs is being spurred by
continuous investments for R&D programs, along with government initiatives
in the form of public–private partnerships. Furthermore, methanol is relatively
easier to transport and store as compared to hydrogen since it is stable and
denser at all environmental conditions. These factors are fueling the growth of
the DMFC market.
Asia-Pacific is the largest market for Direct Methanol
Fuel Cells (DMFC). Countries, such as Japan and South Korea, are the largest
markets and have increased their investments in fuel cell technology in the
recent past and DMFC is one such technology. The Japanese government is
investing in fuel cell technology that will power the 2020 Olympics in Tokyo.
It plans to spend nearly USD 300 million for the construction of
hydrogen-refueling infrastructure. Governments of countries, such as Japan and
South Korea, have also been undertaking initiatives to reduce dependence on
nuclear energy and fossil fuel and move toward renewable energy. In addition,
North American market is also one of the major revenue pockets. North America
consumes almost a quarter of the world’s primary energy. Despite its abundant
fossil fuel and renewable energy sources, the region imports significant
volumes of crude oil to manage its transportation fuel requirements.
Browse 90 market data Tables
and 40 Figures spread through 152 Pages and in-depth TOC on "Direct Methanol Fuel Cells Market by
Application (Portable, Stationary, & Transportation), by Component
(Electrode, Membrane, Balance of System, & Balance of Stack), & by
Region -Global Forecast to 2020"
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Europe and Rest of the World (RoW) are the other regions
where DMFC market is projected to experience growth. European countries impose
stringent environment regulations, and the European Union (EU) is a staunch
supporter of renewable energy and fuel cell technology. Several energy storage
and Power-to-Gas (P2G) projects have been developed in Europe. The United
Nations World Forum for Harmonization of Vehicle Regulations has recently
adopted the United Nations Global Technical Regulation (UN GTR) policy, which
governs the safety of hydrogen and internal combustion engines. The UN GTR ensures
that fuel cell vehicles meet the same safety standards as conventional gasoline
vehicles. These environment-friendly regulations would help the DMFC market to
grow in the near future. The RoW comprises regions such as the Middle East,
Africa, and South America. In recent years, companies such as Oorja Protonics
(U.S.) have installed DMFC in telecommunication towers in South Africa. The
United States Trade and Development Agency (U.S.) sanctioned a grant of USD
872,000 to Oorja Protonics in 2014 for a feasibility study involving the use of
DMFC to power telecommunication towers in South Africa. These developments are
bound to help the DMFC market to grow during the forecast period.
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The DMFC market, on the basis of component, has been
segmented into four categories, namely, electrode, membrane, balance of stack,
and balance of system. The electrode component segment refers to electrodes
used in Direct Methanol Fuel Cells
(DMFC) Market, which consists of an anode and a cathode containing a
catalyst layer and a diffusion layer. A polymer electrolyte membrane is
sandwiched between the anode and the cathode. The membrane allows selective
passage of hydrogen ions, which act as an oxidant for the cathode, resulting in
electricity generation. The polymer electrolyte membrane has been covered under
the membrane component segment. The DMFC balance of stack segment includes fuel
cell components excluding electrodes and membranes. Out of all, balance of
system is expected to grow at the highest rate during the forecast period.
Electrode holds the largest market share in terms of the USD million and
expected to grow at the third highest CAGR during the forecast period from 2015
to 2020.
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MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
newsletter@marketsandmarkets.com
