Direct Methanol Fuel Cells (DMFC) Market is Set to Boom in Future With Top Key Players: SFC Energy

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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