Valued to be $322.9 Million by 2026, Direct Methanol Fuel Cells Slated for Robust Growth Worldwide

SAN FRANCISCO , April 18, 2022 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Direct Methanol Fuel Cells - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.

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Edition: 6; Released: April 2022
Executive Pool: 474
Companies: 22 - Players covered include 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. and Others.
Coverage: All major geographies and key segments
Segments: Component (Electrode, Membrane, Balance of Stack, Balance of System); Application (Portable, Stationary, Transportation)
Geographies: World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; and Rest of Europe); Asia-Pacific; Rest of World.

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ABSTRACT-

Global Direct Methanol Fuel Cells Market to Reach US$322.9 Million by the Year 2026

Direct Methanol Fuel Cells (DMFC) are conversion devices for electrochemical energy that transform liquid methanol's chemical energy directly into electrical energy without intermediate processes or any mobile parts thus, making them an effective and efficient power source. DMFC are known to be a miniaturization marvel, are lightweight, high-powered and also long-lasting performers. Such fuel cells have been leading fuel cell systems for mobile applications and off-grid power for IT, mission critical communications, sensors, optronics and auxiliary power and use liquid fuel DMFC technology to directly transform methanol into electricity. Such liquid methanol is also easily transportable through fuel cartridges. The DMFC was conceived as a way of tackling the hydrogen fuel storage crisis and also for eliminating the reformer for converting methanol into hydrogen. Moreover, it is known as a Proton Exchange Membrane Fuel Cell (PEMFC) since it makes use of a PEM membrane also. However, besides platinum, other assorted catalysts such as Ruthenium (Ru) need to be added for breaking the methanol bond in an anodic reaction. The DMFC is a subcategory of the proton-exchange fuel cell, which uses methanol as its principal fuel and its main advantage is methanol's easy portability and stability under all atmospheric conditions.

Amid the COVID-19 crisis, the global market for Direct Methanol Fuel Cells estimated at US$191.7 Million in the year 2022, is projected to reach a revised size of US$322.9 Million by 2026, growing at a CAGR of 12.6% over the analysis period. Electrodes, one of the segments analyzed in the report, is projected to grow at a 14.3% CAGR to reach US$182.1 Million by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Membranes segment is readjusted to a revised 12.9% CAGR for the next 7-year period. This segment currently accounts for a 25.3% share of the global Direct Methanol Fuel Cells market.

The U.S. Market is Estimated at $50.2 Million in 2022, While China is Forecast to Reach $46 Million by 2026

The Direct Methanol Fuel Cells market in the U.S. is estimated at US$50.2 Million in the year 2022. The country currently accounts for a 25.9% share in the global market. China, the world's second largest economy, is forecast to reach an estimated market size of US$46 Million in the year 2026 trailing a CAGR of 15.6% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 9.6% and 11.7% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 11.3% CAGR while Rest of European market (as defined in the study) will reach US$7.7 Million by the end of the analysis period.

Balance of Stack Segment to Reach $43.5 Million by 2026

In the global Balance of Stack segment, USA, Canada, Japan, China and Europe will drive the 7.7% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$23 Million will reach a projected size of US$38.3 Million by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$7.2 Million by the year 2026. In an increasingly energy hungry world, poised to gain are technologies which are efficient and environmentally sustainable. Against this backdrop and given the many environmentally friendly credentials, fuel cell technologies are attractively positioned to score the maximum gains. The emergence of clean energy as a mega trend is poised to yield a perfect ground for expansion of the direct methanol fuel cells market. Clean energy technologies are garnering considerable momentum and hold a promising outlook owing to rising concerns over climate changes and its negative implications for the environment and humans. Uneven progress related to the green economy along with unabated carbon emissions globally are indicating a pressing need for countries to increase spending in clean energy technologies, like direct methanol fuel cells. Despite consistent increase in spending on eco-friendly energy, most countries are reporting an upswing in carbon emissions. While investments in sustainable energy account for a decent share of overall investments announced by governments in the recent months to push economic recovery, the spending varies regionally.

Advanced countries are making notable progress and claim the major share, while developing economies fall short of the target intended to mitigate carbon emissions. With notable jump in consumption of fossil fuel following the post-pandemic recovery, governments need to push clean energy technologies to reduce emissions and decelerate global warming. The world needs to invest around US$1 trillion in clean energy projects in order to comply with climate goals without compromising over the economic growth. In the recent months, various governments have announced new finding under new programs and even increased spending for existing efforts. While overall investments in clean energy are estimated to increase significantly through 2030, there remains a notable gap between actual and desired spending. Clean energy technologies such as methanol fuel cells hold potential to help countries in moving away from fossil fuel-intensive options towards eco-friendly alternatives. More

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