DUBLIN, Feb. 15, 2016 /PRNewswire/ --
Research and Markets (http://www.researchandmarkets.com/research/jtj27b/direct_methanol) has announced the addition of the "Direct Methanol Fuel Cells Market (DMFC) by Application (Portable, Stationary, & Transportation), by Component (Electrode, Membrane, Balance of System, & Balance of Stack), & by Region -Global Forecast to 2020" report to their offering.
The Direct Methanol Fuel Cells (DMFC) market is expected to reach USD 188.82 Million by 2020, at a CAGR of 15.3% from 2015 to 2020
The growing demand for clean energy has been accompanied by depletion of fossil fuels, which has shifted the focus toward fuel cell markets. The DMFC market is still in its initial development phase in all the regions due to slow infrastructure development for refueling of fuel cells, technical limitations, and use of expensive materials for its manufacturing. Government initiatives and grants for fuel cell research, investments from financial institutions, high-energy storage density as compared with batteries and other fuel cells, growing demand for clean energy, and use of cheaper metals for its manufacturing are driving the growth of the global DMFC market.
The report segments the DMFC market on the basis of its application which include portable, stationary, and transportation. The portable application is the highest growth market for DMFC. The stationary DMFC application is projected to dominate the global DMFC market during the forecast period.
The DMFC market has also been segmented on the basis of components into electrodes, membranes, balance of stack, and balance of system, among others. Majority of the DMFC market is captured by electrode component.
Asia-Pacific is the leading market for DMFC, owing to significant investments in fuel cell technologies, especially in Japan and South Korea. Governments of countries such as Japan and South Korea have also been undertaking initiatives to reduce dependence on nuclear energy and fossil fuel and move toward renewable energy. The Japanese government is investing in fuel cell technology that will power the 2020 Olympics in Tokyo.
Other countries, such as Singapore, India, Indonesia, and Malaysia, have started or are expected to start exclusive programs to promote fuel cells in regional markets. These countries are currently focusing on back-up power (stationary application) fuel cells. India is expected to invest in fuel cell systems that will provide back-up power for telecommunication towers from 2015 to 2020.
- Antig Technology Co. Ltd.
- Ballard Power Systems Inc.
- Bren-Tronics Incorporated
- E. I. Du Pont De Nemours and Company
- Fujikura Limited
- Horizon Fuel Cell Technologies
- Ird Fuel Cell A/S
- Johnson Matthey
- Meoh Power, Inc.
- Oorja Protonics Inc.
- Samsung SDI
- SFC Energy AG
- Treadstone Technologies Inc.
- Viaspace Inc.
For more information visit http://www.researchandmarkets.com/research/jtj27b/direct_methanol
Laura Wood , +353-1-481-1716, firstname.lastname@example.org
SOURCE Research and Markets