Ozone Market Reports projects that the Direct Methanol Fuel Cells market size will grow from USD 121.37 Million in 2017 to USD 294.18 Million by 2023, at an estimated CAGR of 15.9%. The base year considered for the study is 2017, and the market size is projected from 2018 to 2023.
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.
By Market Players:
SFC Energy AG , Ballard Power Systems Inc. , Oorja Protonics Inc. , Horizon Fuel Cell Technologies , Meoh Power, Inc. , Bren-Tronics Incorporated , Treadstone Technologies Inc. , Viaspace Inc. , E. I. Du Pont De Nemours and Company , Ird Fuel Cell A/S , Johnson Matthey , Fujikura Limited , Antig Technology Co. Ltd. , Samsung SDI, , , , , ,
Portable, Stationary, Transportation, ,
Electrode, Membrane, Balance of System, Balance of Stack,
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Polymer/Proton Exchange Membrane, Molten Carbonate, Solid Oxide, Phosphoric Acid, Others
The prime objective of this report is to help the user understand the market in terms of its definition, segmentation, market potential, influential trends, and the challenges that the market is facing. Deep researches and analysis were done during the preparation of the report. The readers will find this report very helpful in understanding the market in depth. The data and the information regarding the market are taken from reliable sources such as websites, annual reports of the companies, journals, and others and were checked and validated by the industry experts. The facts and data are represented in the report using diagrams, graphs, pie charts, and other pictorial representations. This enhances the visual representation and also helps in understanding the facts much better.
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