Direct Methanol Fuel Cells Market Consumption, Brand Analysis Growth Factors, Global Analysis by Leading Companies with Forecast to 2023

The global direct methanol fuel cells market is estimated to expand at ~16.3% CAGR during the forecast period. Direct Methanol Fuel Cells (DMFC) produces electric power by the direct conversion of the methanol fuel at the fuel cells anode. These fuel cellss are often used as an efficient alternative to internal combustion engine as they offer benefits such as zero emission with higher reliability. The DFMCs have significant advantage over batteries such as conventional batteries take hours to recharge whereas DFMCs can be refueled within minutes. In addition, research, and development work associated with fuel cells technologies and government initiatives globally on reduction of green-house gases emissions from power sector is likely to drive the direct methanol fuel cells market.

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The growing demand for direct methanol fuel cells market is attributed to need for longer battery life and capability to convert higher energy density fuel directly to electricity. R&D initiatives to commercialize direct methanol fuel cells and develop superior products is expected to create opportunity for the new industry entrants as well as existing participants. One of the major restraints for the global direct methanol fuel cells market is the low oil prices.

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Direct Methanol Fuel Cells Market Segments Analysis:
Global Direct Methanol Fuel Cells Market, By Type
• PEMFC
• MCFC
• PAFC
• SOFC
• Others
Global Direct Methanol Fuel Cells Market, By Component
• Electrode
• Membrane
• Balance of System
• Balance of Stack
Global Direct Methanol Fuel Cells Market, By Application
• Portable
• Stationary
• Transportation
Global Direct Methanol Fuel Cells Market, By Regions
• North America
• Asia-Pacific
• Europe
• Middle East & Africa
• South America

Direct Methanol Fuel Cells Regional Market Analysis:
Region wise, 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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