Direct Methanol Fuel Cell Market 2022 Increasing Need for Clean Energy and Increasing Expenditures in Fuel Cell Development

According to Precision Business Insights (PBI), the latest report the global direct methanol fuel cell market is expected to be worth USD 165.9 million in 2021 and projected to grow at an 14.5% CAGR over 2022 to 2028. Direct methanol fuel cell is expected to drive market growth. Compared to combustion engines or gas turbine engines due to DMFCs run without any components, resulting in silent operation. Furthermore, there are fewer moving components, 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 attracted the attention of users in adopting direct methanol fuel cell.

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The Portable Segment is Dominating the Direct Methanol Fuel Cell Market:
Based on the application, the market is segmented into portable and stationary transportation which the portable segment is anticipated to boost the segment owing to portable fuel cells that can supply backup energy from eight hours to three days, depending on the need. The backup energy will continue if the gasoline is delivered on schedule. Portable fuel cells use relatively minimal space and may be fitted into various devices, including freezers. In traditional batteries, overheating causes problems, and this problem is handled by portable fuel cells, which are known to work at lower temperatures than ordinary batteries. Portable fuel cells use relatively minimal space and may be fitted into various devices, including freezers. In traditional batteries, overheating causes problems, and this problem is handled by portable fuel cells, which are known to work at lower temperatures than ordinary batteries. Moreover, companies are providing addition feature to their product to grow in to the market. For instance, Panasonic Promises Laptop Fuel Cell With 20-Hour Battery Life.

Asia Pacific Leads Direct Methanol Fuel Cell Market
Asia Pacific is expected to hold significant market share in the global direct methanol fuel cell market and is projected to grow at a prominent growth rate over the forecast years. Countries in the Asia Pacific are investing in clean energy technologies to reduce reliance on fossil fuels and attain carbon neutrality in the future is expected to enhance the market landscape across the region. To decarbonize their energy systems, Australia and Japan signed a cooperation declaration in 2020. Furthermore, Roland Gumpert and Chinese electric mobility player Aiways' joint company Gumpert Airways has announced the production of Nathalie, the methanol-powered fuel cell sports coupe.

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Strategic New Product Launches, Mergers, Acquisitions and Agreements are the key strategies adopted by market players:
Global Direct Methanol Fuel Cell market further reveals that the key players increasingly adopting strategies such as launch of newer products, product launches, and long-term alliance to improve market revenue share and gaining significant geographic presence across the region. For instance, In 2020, Toyota Tsusho Corporation has signed an agreement with SFC Energy AG to offer compact fuel cells only in Japan. The firm intends to diversify compact fuel cell customers and attempt to enhance partnerships to boost sales in Asia-Pacific in the future. SFC also has cutting-edge direct methanol fuel cell technology and has sold over 45,000 units globally.

Detailed Segmentation:
Basis of Application
Portable
Stationary
Transportation

Basis of Component
Electrode
Membrane
Balance of System
Balance of Stack

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Key player's profiles in the direct methanol fuel cell market report Antig Technology Co. Ltd., Fujikura Ltd., Hitachi Ltd., Oorja Corporation, Panasonic Corporation, Polyfuel Inc., Samsung SDI Co., Ltd, SFC Energy AG, Sharp Corporation, Toshiba Corporation, UltraCell LLC, Viaspace, Inc., XNRGI, Inc.

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