Market Scope The ‘global direct methanol fuels cells market’ analysis is a specialized and in-depth study of the direct methanol fuels cells market that has a particular focus on the extensive trend analysis. Market Research Future study depicts that the market would experience a substantial CAGR during the forecast period 2017–2024. The study further provides key statistics on the market by analyzing the factors that drive, segmentation, and regional analysis to understand the market dynamics in the future. Market Dynamics The major driving factors that are influencing the global DMFC Market to expand rapidly are accredited to industrialization, which is spreading globally and initiation of clean energy. Along with this, reserves in fuel cell development, reduction in emission of harmful gases from the manufacturing and automotive industries, and high energy density of DMFC, and are also forcing the market to expand rapidly. At the same time, the beneficiaries and advantages it offers, such as eradicating the necessity for fuel reforming and hydrogen storage and using a liquid fuel for power, are also motivating the market to gain a higher valuation during the forecast period. On this note, direct methanol fuel cells are generally ideal for small commercial vehicles such as forklifts and consumer goods such as mobile phones, digital cameras, or laptops. Therefore, along with these, they are increasingly being used for more such as military applications due to low noise and thermal signatures and no toxic effluents. Such features are worldwide impacting the market to increase its valuation which could go on in continuation during the forecast period. On the other hand, some of the fuel cell technologies are also being developed, globally, which embrace phosphoric acid, and direct methanol fuel cells and hydrogen, solid oxide. In the case of point, in 1969, a hydrogen fuel cell was used in the Apollo moon mission for generating water and heat for the astronauts. However, the adoption of such technology is boosting the growth of the global fuel cell market that has been slow since the past years. Market Segmentation The worldwide direct methanol fuel cell market, as per the study, has been segmented by the elements of type, component, application, and power output. In terms of type: Electrode, membrane, the balance of system, and balance of stack are the segments. In terms of component: Serpentine flow field design and parallel flow field design are the segments. In terms of application: Portable, stationery, and transportation are the segments. In terms of power output: Less than 1KW, 1KW – 5KW, and above 5KW are the segments.
Regional Framework The overview of the global direct methanol fuel cell market presents its analysis with respect to key regions, namely; North America, Europe, Asia-Pacific, the Middle East & Africa, and South America. Among these, Asia-Pacific is likely to occupy the foremost market share during the assessment period, due to the rise in demand for energy as the growing population and per capita is providing a vast market potential in this region. In the case of point, the International Renewable Energy Agency (IRENA) claims that Asia-Pacific occupied two-thirds of the rise in renewable energy installation capacity in 2017. Therefore, the swelling demand for clean energy and the development in the fuel cell industry drives the evolution of the global direct methanol fuel cell market in Asia-Pacific. In India, as per the ministry of new and renewable energy (MNRE), there is a possibility to achieve 40% of its total energy generation from clean energy by 2030. As per MNRE report in 2016, the Government of India has also set up the target to develop direct methanol fuel cell market in three phases: Phase I (2016–2018) to develop up to 0.1 KW DMFC; Phase II (2019–2020) to develop up to 0.25 KW DMFC; and Phase III (2021–2022) to develop up to 1KW DMFCs. Then comes the US region, which is awaited to lead the market growth for direct methanol fuel cell market with the surged focus on the deployment of clean energy solutions. In this region, the per capita emission of carbon dioxide is very high and complete carbon dioxide emission is second after China. The US government is now aiming to afford enormous incentive to fuel cell technology and as per the Department of Energy (DOE), the fuel cell technology will have cost competitive with other options in the coming years, which, in turn, is prospective to swell the market growth for DMFCs at a prompt rate. Market Players The well-known players in the global direct methanol fuel cell (DMFC) market are listed as Fujikura Ltd (Japan), Siqens GmbH (Germany), Oorja Corporation (US), Pro-Power Co Ltd (South Korea), SFC Energy AG (Germany), Antig Technology Co Ltd (Taiwan), and Viaspace (US) and to name a few. About Market Research Future: At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services. Contact: Market Research Future +1 646 845 9312
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