The global direct methanol fuel cell (DMFC) market was valued at in US$ 195.23 Mn in 2021 and is anticipated to grow at a CAGR of 16.2% over the forecast period. Climate change is a huge issue that has been haunting the mankind since last several years. This climate change is majorly due to surging levels of various types of pollution. While the fossil fuels are getting scarcer each passing day, new ways of energy generation are being sought. In an attempt to battle many problems like global warming, consumption of renewable or non-conventional sources is being promoted. Those Fuel cells that are extracted from direct methanol are seeing a sudden rise in the demand. Direct methanol fuel cell (DMFC) primarily is a subcategory of proton-exchange fuel cell where methanol is used in the form of fuel. One of the biggest reason why the demand for direct-methanol fuel cells has gone up is that the methanol can be transported easily courtesy of its property of being reasonably stable liquid in any given environment irrespective of being energy-dense. All these factors are helping the direct methanol fuel cell (DMFC) market grow rampantly.
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The growth of the direct methanol fuel cell (DMFC) market faltered due to the COVID-19 pandemic. This slump was caused courtesy of various issues like unavailability of transport services, traveling curbs imposed to curtail the spread of the life-threatening SARS-CoV-2 virus. The market is taking steps to get back to pre-pandemic levels in terms of revenue generation.
One of the major factor that is driving the growth of the direct methanol fuel cell (DMFC) market is growing inclination towards sustainable and environment friendly sources of power. Also the fact that rising demand for increased efficiency and low maintenance products which help in optimization of costs will contribute to the growth of this market.
Meanwhile, the growth of the direct methanol fuel cell (DMFC) market is likely to be hindered due to operational challenges and higher costs associated with DMFC. On the other hand, growing number of investment activities towards research & development in order to enhance scope of the applications will help this market grow rapidly over the period of forecast.
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By Application, Stationery segment will witness growth at fastest rate for The Direct Methanol Fuel Cell (DMFC) Market in 2022
This segment will emerge victorious as compared to other segments over the period of forecast due to increasing demand for power sources that happen to be sustainable and eco-friendly at the same time. In order to enhance stabilisation of methanol, stationery products prove helpful and this is the reason why this segment will grow rapidly.
North America Region to witness fastest growth for this market Over the Forecast Period (2022 – 2030) in the Direct Methanol Fuel Cell (DMFC) Market
Owing to countries like the United States and Canada, where huge investments are being made towards innovation and research related to finding new ways of energy sources, the direct methanol fuel cell market will experience growth. Also the federal governments in those countries are trying to bring down levels of emission, ultimately creating favourable environment for this market to grow.
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Some of the major players operating in the global direct methanol fuel cell (DMFC) market are listed below:
- Ballard Power Systems
- Oorja Corporation
- SFC Energy AG
- Other Market Participants
Global Direct Methanol Fuel Cell (DMFC) Market Segmentation
Global Direct Methanol Fuel Cell (DMFC) Market has been segmented by application, end users which are further classified into respective countries:
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Global Direct Methanol Fuel Cell (DMFC) Market Application Outlook (Revenue, USD Million, 2015 - 2030)
Global Direct Methanol Fuel Cell (DMFC) Market End Users Type Outlook (Revenue, USD Million, 2015 - 2030)
- Military & Defence
- Consumer Electronics (Cell Phones, Laptops, Etc.)
- Recreation Vehicles, Mobile Homes & Boats
- Refrigeration Trucks
- Golf Carts
- Materials-Handling Equipment (Forklifts, Automated Guided Vehicles, Etc.)
- Power & Energy (Micro-Grids and Distributed Energy Generation, Emergency Power, Etc.)
Global Direct Methanol Fuel Cell (DMFC) Market Regional Outlook (Revenue, USD Million, 2015 - 2030)
- North America (U.S., Canada, Mexico, Rest of North America)
- Europe (France, The UK, Spain, Germany, Italy, Nordic Countries (Denmark, Finland, Iceland, Sweden, Norway), Benelux Union (Belgium, The Netherlands, Luxembourg), Rest of Europe
- Asia Pacific (China, Japan, India, New Zealand, Australia, South Korea, Southeast Asia (Indonesia, Thailand, Malaysia, Singapore, Rest of Southeast Asia), Rest of Asia Pacific
- Middle East & Africa (Saudi Arabia, UAE, Egypt, Kuwait, South Africa, Rest of Middle East & Africa)
- Latin America (Brazil, Argentina, Rest of Latin America)
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