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.
The Direct Methanol Fuel Cells market (DMFC) was valued at USD 102.85 Million in 2014, and is projected to reach a market size of USD 188.82 Million by 2020, at a CAGR of 15.3% during the forecast period.
DMFCs are electrochemical devices that convert chemical energy from methanol to electrical energy. The DMFC units are a feasible alternative to other energy sources such as batteries and diesel-powered engines. While DMFCs can be refuelled within minutes, batteries take hours to recharge. Replacing batteries with DMFCs would also eliminate the need for battery charging infrastructure within the facility. The DMFC is gradually replacing batteries for material handling applications in forklift trucks. The demand for DMFCs is being driven by an increasing awareness about clean energy and demand for zero emission energy sources. Furthermore, stringent environmental regulations would likely compel countries to shift their primary energy mix towards cleaner fuels, such as fuel cells. This would in turn create further demand for DMFCs.
The DMFC market has been segmented on the basis of application, component, and region. The years considered for the study are:
- Historical Year – 2013
- Base Year – 2014
- Estimated Year – 2015
- Projected Year – 2020
- Forecast Period – 2015 to 2020
For company profiles in the report, 2014 has been considered. Where information is unavailable for the base year, the prior year has been considered.
- Major regions contributing the maximum share have been identified
- Secondary research has been conducted to find the major applications of DMFCs in different regions and their impact
- The supply and demand analysis has been done using company data & literature published through industry associations, and confirmed through industry participants and subject matter experts
- Applications have been identified on the basis of usage in the region, and the split has been calculated by conducting primaries with industry participants, subject matter experts, C-level executives of key market players, and industry consultants among other experts, which helped to obtain and verify critical qualitative and quantitative information as well as assess future market prospects
Revenues of the top companies (regional/global), regional energy demand, average price trends per region for each application, and industry trends along with top-down, bottom-up, and MnM KNOW have been used to estimate the market size (value)
The market has been further broken down into several segments and subsegments on the basis of information gathered
The figure below shows the breakdown of primaries on the basis of company, designation, and region, conducted during the research study.