Press release
Reformed Methanol Fuel Cell (RFMC) Market Size, Demand, Growth, Outlook, and Market Forecast 2023-2030
Due to the rising demand for clean and effective power sources, the global reform methanol fuel cell market is expanding quickly. A variety of materials, such as natural gas, coal, biomass, landfill gas, and industrial pollutants, can be used to create methanol. Methanol is a renewable energy source that is both versatile and easily obtainable due to its wide range of feedstock sources. Additionally, biomass, a renewable resource, can be used to make methanol, increasing its environmental sustainability and lowering its carbon footprint.
Because methanol is suitable for ships, it is becoming more and more popular as a maritime fuel. International regulatory developments that force the maritime industry to adhere to tougher emissions requirements are the driving force behind its expansion. The benefits of methanol include the absence of sulfur, reduced emissions, cost advantages over marine distillate fuel, and a better grade.
Reformed Methanol Fuel Cell (RFMC) Market Size and Growth Analysis
The Global Reformed Methanol Fuel Cell (RFMC) Market reached US$ 2.1 billion in 2022 and is expected to reach US$ 5.9 billion by 2030, growing with a CAGR of 16.2% during the forecast period 2023-2030.
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Reformed Methanol Fuel Cell (RFMC) Market Dynamics
In an effort to cut pollution and greenhouse gas emissions, the automobile industry is going through a "green revolution" due to the rising need for reformed methanol fuel cells brought on by EVs' increasing need for clean energy. Emissions are mostly caused by transportation, especially by internal combustion engine-powered cars. In an effort to tackle climate change, governments everywhere are pushing for greener solutions.
The development of fuel cells, particularly reformed methanol fuel cells, depends heavily on methanol. Methanol is used by the fuel cells as a carrier of hydrogen, which makes it a great choice for a number of uses, including car propulsion. With the molecular formula CH3OH, methanol has a higher hydrogen content than any other stable liquid in normal circumstances.
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Reformed Methanol Fuel Cell (RFMC) Market Segment Analysis
By Type
By Equipment
By Region
Major Companies Covered
Hioki USA Corporation, Battery Technology Source Co. Ltd., Xiamen Tmax Battery Equipment Limited, ACS Solutions, GUANGDONG BELL EXPERIMENT EQUIPMENT CO.,LTD., Chroma ATE Inc., Kikusui Electronics Corporation, Guangzhou Lanqi Electronic Industry Co.,Ltd, Maccor Inc.
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