Direct Methanol Fuel Cells Market: Current Analysis and Forecast (2021-2027)
Direct-methanol fuel cells or DMFCs are a subcategory of proton-exchange fuel cells in which methanol is used as the fuel. Their main advantage is the ease of transport of methanol, an energy-dense yet reasonably stable liquid at all environmental conditions. Current DMFCs are limited in the power they can produce, but can still store a high energy content in a small space. This means they can produce a small amount of power over a long period of time. This makes them ill-suited for powering large vehicles (at least directly), but ideal for smaller vehicles such as forklifts and tugger as well as consumer goods such as mobile phones, digital cameras or laptops. Military applications of DMFCs are emerging applications since they have low noise and thermal signatures and no toxic effluent. These applications include power for man-portable tactical equipment, battery chargers, and autonomous power for test and training instrumentation. Thus, with continuous technological advancement and adoption of DMFC across industries the market is expected to witness a robust growth of ~16% during the forecast period.
The Global Direct Methanol Fuel Cells Market is experiencing significant growth due to the increased awareness about clean energy and demand for zero-emission energy sources. Furthermore, stringent environmental regulations would act as a catalyst in driving the demand in this market, as the regulations would likely compel countries to shift their primary energy mix towards cleaner fuels, such as fuel cells. Rapidly growing personal electronic product consumption and the need for longer battery life and higher performance are projected to bolster the direct methanol fuel cell market.
In addition, various companies and governments have been testing DMFC for backup power applications in case of a power outage. For instance, In February 2021, SFC Energy AG completed a smart city project in Itanagar, India with its Indian partner FC TecNrgy Pvt Ltd. For this, SFC Energy delivered 30 EFOY Pro 2400 fuel cells. In these smart city applications, the EFOY Pro 2400 fuel cell with its output power of 110 watts (W) functions as a powerful, reliable, and, above all, environmentally friendly emergency power generator that is connected with a compact 50 Ah battery pack. In the event of a power outage, it is capable of permanently bridging downtimes of up to 100 hours with only 10 liters of Methanol.
Insights Presented in the Report
“Amongst Component, Electrode Category to Hold Significant Market Share”
Based on component, the market is bifurcated into Electrode, Membrane, Balance of System, and Balance of Stack. Among these, the electrode category to hold significant market share during the forecast period. The market is driven primarily by the massive rise in the consumer base of portable electronic devices and the growing demand for longer-lasting power supplies. Moreover, growing investments in fuel cell technologies and government initiatives for clean technology to reduce dependence on nuclear energy and fossil fuel are further expected to drive the market. With technological advancements in membrane assembly, DMFC is believed to be a next-generation power source that revolutionizes the performance and ease of use of all sorts of portable electronics. In comparison with the rechargeable battery based on lithium-ion polymer, the DMFC has theoretically 10 times more weight energy density. This performance translates into larger conversation times for mobile phones, longer times for use of notebook computers between replacement of fuel cartridges, and more power available on these devices to support consumer demand.
“Amongst Application, Portable Category to Witness Strong Growth During 2021–2027F”
Based on application, the market is categorized into Portable, Stationary, and Transportation. The applications of this technology range from stationary power production to portable systems to supply portable electrical equipment, such as notebooks, cellular phones, among others. Fuel cells generate power by the electrochemical conversion of fuel, which can be instantly replenished. For the portable power segment, direct methanol fuel cells (DMFCs) are the most promising solutions because they can be created in the most compact form factor, methanol. Therefore, increasing sales of consumer electronics coupled with the focus of major companies on energy efficiency and environmentally friendly products are expected to drive the market during 2021–2027F.
“Asia-Pacific will Dominate the Market During the Forecast Period”
Asia Pacific constitutes the largest market for the industry and generated revenue of USD XX billion in 2020 on account of the rising market of automotive, electronics, among others. The region is among the largest market for the aforementioned industries and demand is increasing owing to rising consumer disposable income, growing population, and increasing government investment to improve the infrastructure to boost economic growth. Further, supporting government policies to increase the adoption of methanol in the transport and energy industry is propelling the growth of the market. For instance, NITI Aayog, India, is running a program “Methanol Economy” to reduce India's oil import bill, greenhouse gas (GHG) emissions, and convert coal reserves and municipal solid waste into methanol. Further, several companies are manufacturing products that can run on methanol fuels. For instance, Thermax Ltd. has developed a 5 KW methanol-based reformer on a Direct Methanol Fuel Cell (DMFC). This module is being tested to replace DG sets in mobile towers. These factors are likely to propel the market of methanol in the region.
Reasons to buy this report:
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.Download eBook