(MENAFN- GetNews) Direct Methanol Fuel Cells Market held a market is expected to grow at 16.3% CAGR during 2018 to 2023. The Direct Methanol Fuel Cells Market research report summarizes market review of the key segments in the market such as by Type, by Component, by Application and Region
Direct Methanol Fuel Cells Market Highlights
Direct Methanol Fuel Cell (DMFC) is a power source for the portable devices that produces electric power by the direct conversion of the methanol fuel at the fuel cell anode. These fuel cells are a feasible alternative to other energy sources such as batteries and diesel-powered engines. Direct methanol fuel cells have applications spread across multiple industries. Major end-use industries include electronics, automotive, and industrial. DMFC has different types of applications, namely, stationary, portable, and transportation applications. These fuel cells can also be used in automobiles instead of conventional fuel and are termed to be more efficient and reliable.
The global direct methanol fuel cells market is projected to grow at a high rate during the forecast period, mainly due to the ease of storage and transportation of DMFC as storing methanol is relatively easy than other materials, which is also supposed to encourage product acceptance across industries and in turn compliment market growth. High investment in fuel cell development is also one of the major factors driving the Direct Methanol Fuel Cells market. Companies are increasing the R & D investment for commercialization of these fuel cells. For instance, South Korea has plans for fuel cells in the coming years.
Direct Methanol Fuel Cells Industry Leading Players Analyzed are:
Antig Technology Co.,Ltd. (Taiwan), SFC Energy AG (Germany), Ballard Power Systems (Canada), Oorja Corporation (US), Meoh Power, Inc. (US), Horizon Fuel Cells Technologies (Singapore), Fujikura Ltd (Japan), Treadstone Technologies Inc. (US), and Samsung SDI (South Korea).
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Direct Methanol Fuel Cells Industry Segmentation:
Global Direct Methanol Fuel Cells market has been segmented based on type, component, application, and region.
Based on type, the market is segmented into PEMFC, MCFC, PAFC, and SOFC.
Based on component, the market is segmented the market is classified into electrode, membrane, balance of system, and balance of stack.
Based on application, the industry is classified into portable, stationary, and transportation.
Direct Methanol Fuel Cells Regional Market Analysis
Geographically, the global Direct Methanol Fuel Cells market has been segmented into five major regions such as Asia Pacific (APAC), Europe, North America, and Middle East & Africa and South America.
Asia Pacific held the largest market share of the global Direct Methanol Fuel Cells market in 2017. It is estimated that Asia-Pacific region would be the fastest growing market during the forecast period, mainly due to the rising investment in railway sector, rising urbanization and proliferation of electrification. Europe region holds significant market share and is expected to dominate the global Direct Methanol Fuel Cells market in terms of revenue contribution. Germany is leading country contributing to the growth of the European market. The market is mainly driven by factors such as the gradual shift from diesel-based to diesel-electric locomotives and electric locomotives.
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Table Of Contents
1 Executive Summary
2 Market Introduction
2.1 Market Definition
2.2 Scope Of The Study
2.3 Market Structure
3 Research Methodology
3.1 Primary Research
3.2 Secondary Research
3.3 Market Size Estimation
3.4 Forecast Model
3.5 List Of Assumptions
3.6 Limitations Of The Study
4 Market Insights
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List Of Tables
Table 1 Global Direct Methanol Fuel Cells Market, By Region, 2016-2023 (USD Million)
Table 2 North America Direct Methanol Fuel Cells Market, By Country, 2016-2023 (USD Million)
Table 3 Europe Direct Methanol Fuel Cells Market, By Country, 2016-2023 (USD Million)
Table 4 Asia-Pacific Direct Methanol Fuel Cells Market, By Country, 2016-2023 (USD Million)
Table 5 Middle East & Africa Direct Methanol Fuel Cells Market, By Country, 2016-2023 (USD Million)
Table 6 South America Direct Methanol Fuel Cells Market, By Country, 2016-2023 (USD Million)
Table 7 Global Direct Methanol Fuel Cells Market, By Type, 2016-2023 (USD Million)
Table 8 North America Direct Methanol Fuel Cells Market, By Type, 2016-2023 (USD Million)
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