Direct Methanol Fuel Cell Market

The demand for DMFCs is growing rapidly owing to various factors, including the increasing demand of clean energy, high investments in fuel cell development, high energy intensity of a DMFC, and the reduction in the emission of harmful gases from the manufacturing and automobile industries.

The global direct methanol fuel cells (DMFC) market is projected to grow at 15.28% CAGR during the forecast period, 2019–2024. In 2018, the global direct methanol fuel cells (DMFC) market was dominated by Asia-Pacific with a 46.27% share, followed by North America and Europe with shares of 33.09% and 10.94%, respectively.

The global direct methanol fuel cells (DMFC) market has been segmented based on component, type, application, power output, and region. On the basis of component, the global direct methanol fuel cells (DMFC) market has been segmented into electrode, membrane, balance of system, and balance of stack. The balance of system segment is expected to grow at a faster rate during the forecast period. In 2018, the balance of system segment held a 12.84% share of the global direct methanol fuel cells (DMFC) market.

On the basis of type, the global direct methanol fuel cells (DMFC) market has been divided into single serpentine flow field design and parallel flow field design. The serpentine flow field design segment is expected to grow at the faster rate during the forecast period. In 2018, the serpentine flow field design segment held a 59.83% share of the global direct methanol fuel cells (DMFC) market.

On the basis of application, the global direct methanol fuel cells (DMFC) market has been segmented into portable, stationary, and transportation. The portable segment is expected to grow at the faster rate during the forecast period. In 2018, the portable segment held a 43.77% share of the global direct methanol fuel cells (DMFC) market.

On the basis of power output, the global direct methanol fuel cells (DMFC) market has been segmented into less than 1 kW, 1 kW to 5 kW, and above 5 kW. The above 5 KW segment is expected to grow at the faster rate during the forecast period. In 2018, the above 5 KW segment held a 24.61% share of the global direct methanol fuel cells (DMFC) market.

On the basis of region, the global direct methanol fuel cells (DMFC) market has been segmented into the North America, Europe, Asia-Pacific, Middle East & Africa, and South America.