New York, US, Feb. 22, 2023 (GLOBE NEWSWIRE) -- According to a Comprehensive Research Report by Market Research Future (MRFR), “Direct Methanol Fuel Cell Market Information By Component, Application, and Region - Forecast till 2030”, The Direct Methanol Fuel Cell market can expect to increase from USD 2.54 billion in 2022 to USD 6.88 billion by 2030, at a CAGR of 13.26% from 2022 to 2030.
Direct Methanol Fuel Cell Market Overview
Direct methanol fuel cells are one of the most advanced fuel cell technologies, producing power or energy by reforming pure methanol as fuel. The methanol is often combined with water and is delivered straight to catalytic components. Because methanol is used as the fuel in this fuel cell, there are no storage issues because methanol has a higher energy density and can thus be easily transported and supplied as needed. These fuel cells are frequently used to power a variety of applications, including fixed, portable, and transportation. However, because DMFCs aid in the establishment of hybrid systems with rechargeable batteries, they have widespread acceptance in portable applications such as laptops, mobile phones, and others.
Market Competitive Landscape:
The important vendors in the direct methanol fuel cell market include
- SFS Energy AG
- Blue World Technologies
- Oorja Photonics Inc.
- Meoh Power
- Viaspace
- Roland Gumpert
- Fujikura Limited
- Antig Technology (Taiwan)
- Treadstone Technologies
- Horizon Fuel Cell Technologies
- Among others.
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Major companies are investing heavily in R&D to expand their product lines, which will help the direct methanol fuel cell market grow even more. Market participants are also undertaking a variety of strategic activities to expand their global footprints, such as new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other companies. To expand and survive in an increasingly competitive and rising market climate, competitors in the worldwide market must offer cost-effective products.
February 2023
Blue World Technologies, a Danish fuel cell inventor and producer, is officially offering the CellPack Stationary, a methanol fuel cell-based power generator, following the start of series production of fuel cells in December 2022. The CellPack Stationary was designed specifically for the telecommunications industry, which installs hundreds of thousands of smaller gensets every year to keep people linked all over the world. The CellPack Stationary can also be configured to meet various needs, such as charging electric vehicles or providing power to low-quality or off-grid locations.
Direct Methanol Fuel Cell Market Report Scope:
| Report Metrics | Details |
| Market Size 2030 | USD 6.88 billion |
| CAGR during 2022-2030 | 13.26% CAGR |
| Base Year | 2021 |
| Forecast | 2022-2030 |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Component, Application and Region |
| Key Market Opportunities | Taking an increasing at the progressing advancement |
| Key Market Dynamics | Government activities and awards for fuel cell device research |
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Direct Methanol Fuel Cell Market USP Covered:
Market Drivers:
DMFCs are an important technology for producing electrical energy effectively by using methanol as a fuel. The growing emphasis on adopting clean energy and improving fuel efficiency has propelled the use of these fuel cells for a variety of applications such as transportation, stationary, and portable applications, as fuel cell technology is expected to play a key role in limiting climate change through the reduction of global CO2 emissions and decarbonization in the future. Governments and business leaders around the world are increasingly recognizing the importance of fuel cell technologies in decarbonizing industries, meeting environmental goals, and improving energy efficiency.
DMFCs, like other fuel cells, run without any moving parts, resulting in a quieter operation than combustion engines or gas turbine engines. Furthermore, because there are fewer moving components, there is little mechanical friction, resulting in less wear and tear and lower maintenance. The lesser maintenance of technology results in application downtime and operating costs, resulting in more money saved in the long run, which has piqued the attention of users in adopting fuel cells.
Furthermore, these fuel cells can be integrated with other power sources and are rapidly gaining popularity. For example, DMFCs can be simply integrated with power generators such as solar panels, bridging the gap in power generation during darkness or low sunlight. As a result, it is becoming more popular among renewable energy sources.
Market Restraints:
Operating DMFCs has greater startup costs as well as large operating expenses, impeding market expansion. The price of these fuel cells is also determined by the components utilized and the rate of production of fuel cells. Because this fuel cell type is used far less than other fuel cell kinds, the year-on-year production has a low growth rate when compared to other fuel cell types, resulting in higher manufacturing costs. Furthermore, according to electrochemical Power Sources, this fuel cell costs more than 10,000 EUR per kilowatt due to technological limitations, and it is expected to be 49.5% more expensive than other fuel cell kinds such as PEMFC and others.
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Another issue impeding market growth is the widespread availability of various fuel cell technologies such as solid oxide fuel cells, proton-electron membrane fuel cells, and alkaline fuel cells. Solid oxide fuel cells, for example, have reduced costs due to their great power efficiency and are also widely used.
COVID 19 Analysis
The global economy was significantly impacted by the coronavirus pandemic in 2020, and the global energy market experienced unprecedented turbulence as a result of a significant drop in mobility, the closure of industries, and a reduction in road transportation, among other factors that moderately impacted market growth. Furthermore, travel limitations and lockdown policies have hampered fuel cell purchase potential, resulting in lower fuel cell manufacture and distribution. According to the International Monetary Fund (IMF), despite a severe decrease in global industrial production, there are clear signs of recovery towards the end of the year.
Direct Methanol Fuel Cell Market Segmentation
By Component
Components in the Direct Methanol Fuel Cell market include bipolar plates, current collectors, catalysts, and membranes. The bipolar players control the majority of the direct methanol fuel cell market. The bipolar plates are the key component in the system as they conduct current between the cell and facilitate the management of water and thermal through the cell.
By Application
The Direct Methanol Fuel Cell market is divided into three applications: portable, stationary, and transportation. Because of their high energy density, lightweight, compactness, simplicity, and easy and fast recharging, DMFCs are the most viable solution in portable applications. Furthermore, the better energy density of these fuel cells over rechargeable batteries translates to more conversation time and supports consumer demand, which is an added benefit.
The transportation application area is still in its early stages. Because menthol/DMFC can operate at lower temperatures, it is possible to keep fluids on board, which is a crucial consideration for long-distance transportation. As a result, the transportation segment will increase at a 15.3% CAGR from 2021 to 2028.
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Regional Insights
The Asia Pacific boasts of the lion's share of the overall fuel cell shipments. However, because these fuel cells are substantially more expensive than other fuel cells, countries in North America and Europe are projected to have a greater acceptability and market share.
In North America, the United States and Canada continue to focus on their research and development initiatives, which play a key part in supplementing the direct methanol fuel cell market expansion across the North American region.
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