The Global Direct methanol fuel cell market is projected to grow at the CAGR of 15.3% during the forecasted period of 2016-2022. The market had generated a revenue more than $ 102.85 Million in 2014 and is anticipated to reach up to $ 321 million in 2022. The Global Direct methanol fuel cell market shows a huge growth in the coming years. The drivers which fuel the market are large investments in Fuel Cell Development, Ease of Transport & Storage, High Energy Density of Direct Methanol Fuel Cells and More Reliable than Internal Combustion Engines. The increasing demand of electronics joined with the need for clean energy is anticipated to positively impact the global direct methanol fuel cell market over the forecast period. Direct methanol fuel cell have applications spread across multiple industries such as automotive, electronics and so on.
The Direct methanol fuel cell is segmented on the basis of application, component and type. On the basis of component, the market of Direct methanol fuel cell is segmented as Direct Methanol Fuel Cells Electrode Market, Direct Methanol Fuel Cells Membrane Market, Direct Methanol Fuel Cells Balance of System Market and Direct Methanol Fuel Cells Balance of Stack Market. Similarly, on the basis of Application the market of direct methanol fuel cell is segmented as Portable Direct Methanol Fuel Cells, Stationary Direct Methanol Fuel Cells and Transportation Direct Methanol Fuel Cells. Moreover, on the basis of type the market of Direct methanol fuel cell is segmented as Polymer/Proton Exchange Membrane Fuel Cells (PEMFC), Molten Carbonate Fuel Cells (MCFC), Solid Oxide Fuel Cells (SOFC), Phosphoric Acid Fuel Cells (PAFC).
On the basis of geography, the market of direct methanol fuel cell is segmented as North America, Asia pacific, Europe and rest of the world. Asia-Pacific holds the leading market position for direct methanol fuel cell, due to significant investments in fuel cell technologies, especially in South Korea and japan. The governments of countries such as South Korea and japan are also been undertaking ingenuities to reduce requirement of fossil fuel and nuclear energy and move toward renewable energy. The countries, such as Malaysia, Indonesia, India and Singapore have started or are anticipated to start exclusive programs to promote direct methanol fuel fuel cells in regional markets.
Some of the major market players are A SFC Energy AG, Antig Technology Co. Ltd., Ballard Power Systems Inc., Bren-Tronics Incorporated, Fujikura Limited, Horizon Fuel Cell Technologies, Ird Fuel Cell A/S, Johnson Matthey, Meoh Power, Inc., E. I. Du Pont De Nemours and Company, Oorja Protonics Inc., Samsung SDI, Treadstone Technologies Inc., Viaspace Inc. Acquisition, mergers and innovation are the key strategies adopted by the market players to sustain in the market. For example in. In December 2014, DuPont collaborated with Ireland based Technology from Ideas (TFI) to advance a thermoplastic elastomers that will help to keep marine devices afloat. Similarly, in December 2014 DuPont collaborated with JA Solar, China based company that intends to use advanced materials from DuPont to help improve power output, durability and return on investment for solar energy systems.