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The increasing demand for clean energy has reinforced the consumption of hydrocarbons for the generation of power. Now we are depended on conventional fuels like gasoline, diesel, etc which resulted in extinction and causes major pollution problems. Due to environmental concerns, most of the countries are investing in the research process to find more alternatives and clean energy for the future. Methanol fuel is one of the cleanest energy alternatives over conventional fuel. The methanol fuel cell has a low risk of flammability as compared to conventional fuel.
It can be easily manufactured by carbon feedstock like coal, natural gas, biomass, etc. which can help to reduce dependency on conventional fuels. The main issue with any type of fuel is storage and transportation but the direct methanol fuel cell can be easily stored and transported at ambient conditions. The energy density of methanol fuel cells is higher than Li-Ion batteries so it is used to power consumer goods like mobile phone and laptop etc. Carbon emission from vehicles is the global concern so it is widely used as a clean fuel for smaller vehicles in warehouses like forklifts and tuggers etc.
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On the basis of component, the global direct methanol fuel cell market can be bifurcated into an electrode, membrane, balance of system, and balance of stack. On the basis of application, the global direct methanol fuel cell market can be segmented into stationary, portable, and transportation. Direct methanol fuel cell is widely used for mass consumer good markets such as mobile phones and laptops etc. because Li-ion batteries used by these devices are facing self-discharging and capacity fade issues.
Direct methanol fuel cell has higher energy density which can give power for a long time which provides an opportunity to grow in a portable power sector. It is used for material handling vehicles like forklifts which help to replenish the energy used during the operation. This helps to increase in operational efficiency of the vehicle.
The factor that is expected to the drive the growth of the global direct methanol fuel cell market is an increase in awareness about using clean energy sources rather than conventional fuel which helps to drive the direct methanol fuel cell market. Government initiatives in countries like the USA for the use of methanol fuel cartridges in planes to power electronic devices and huge investment for R&D programs to bring improvement in methanol fuel cell technology. Owing to the increase in the use of direct methanol fuel cell which replaces the Li-ion batteries to power consumer electronic goods. These are the factors that help to drive the global direct methanol fuel cell market.
The factor that is expected to restrain the growth of the global direct methanol fuel cell market is the manufacturing cost of direct methanol fuel cell which is higher as compared to other fuel cell and batteries because of use of expensive catalyst material and Nafion type membrane used in the system. It can able to produce a small amount of power in a long period of time so it is not able to power the large vehicle.
Some of the major companies in the global direct methanol fuel cell market are Samsung SDI, Fujikura Ltd., Ballard Power System Inc., MeOH Power, Panasonic Corporation, Ultracell, Oorja corporation, Viaspace, Neah Power System Inc., Horizon Fuel Cell Technologies, and Blue World Technologies.
· Balance of System
· Balance of Stack
· North America (the USA and Canada)
· Europe (UK, Germany, France, Italy, Spain, Russia and Rest of Europe)
· Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
· Latin America (Brazil, Mexico, and Rest of Latin America)
· Middle East & Africa (South Africa, GCC, and Rest of the Middle East & Africa)
The global direct methanol fuel cell market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. In Europe, an increase in awareness about green energy and government efforts to reduce and eliminate the use of diesel engines of the fuel cell is being adopted. In North America, the growth of investment in R&D for green energy to curb the carbon emission. Owing to a rapid depletion of fossil fuel which tends to focus on other renewable sources of energy. In the Asia Pacific, there has been an increase in the number of light-duty vehicles and concerns over carbon emissions. This has seen major companies like Honda, Toyota, Hyundai use fuel cells for light-duty vehicles. Also, Amazon and Walmart, have planned to expand the number of warehouses running on fuel cell forklifts in countries like China, India, etc. In Latin America, the government has taken initiatives to increase the number of electric vehicles across the country which tend to poised the growth of direct methanol fuel cell market.
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