Direct Methanol Fuel Cell Market Size & Share, by Component (Bipolar Plates, Membranes, Catalysts, Current Collectors); Application (Portable, Stationary, Transportation); Type (Serpentine Flow Field Design, Parallel Flow Field Design) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2024-2036

  • Report ID: 5681
  • Published Date: Feb 20, 2024
  • Report Format: PDF, PPT

Global Market Size, Forecast, and Trend Highlights Over 2024-2036

Direct Methanol Fuel Cell Market size is poised to reach USD 9 Billion by the end of 2036, growing at a CAGR of 15% during the forecast period, i.e., 2024-2036. In the year 2023, the industry size of direct methanol fuel cell was USD 3 Billion. The reason behind the growth is due to the increasing adoption of renewable energy sources across the globe. Nowadays, about one-seventh of the primary energy produced worldwide comes from renewable sources, and by 2030, affordable electricity from renewable sources may account for around 64% of the global electrical supply. For instance, through 2026, more than 90% of the expansion in the world's electricity capacity is expected to come from renewable sources.

The growing consumption of methanol is believed to fuel the direct methanol fuel cell market growth. The usage of methanol as fuel has grown dramatically over the past few years since it has a lot to offer as an environmentally friendly fuel source, including being a cleaner fuel for automobiles with increased thermal efficiency and reduced emissions. For instance, by 2025, the world's methanol consumption is expected to reach over 120 million tons.


Direct Methanol Fuel Cell Market
Get more information on this report: Request Free Sample PDF

Direct Methanol Fuel Cell Market: Growth Drivers and Challenges

Growth Drivers

  • Rising Demand for Electric Vehicles Batteries - Direct Methanol Fuel Cell (DMFC), an electrochemical energy conversion device, is quite similar to that of a battery that enables car owners to stop worrying about running out of power by offering safe, lightweight onboard battery charging. For instance, the global demand for EV batteries rose by more than 60% in 2022 compared to 2021.
  • Growing Demand for Electricity- The most popular type of methanol fuel cell, which is based on the liquid fuel direct metal fuel cell (DMFC) technology is a power generator that produces electricity by directly converting the chemical energy of methanol and water. It is anticipated that the capacity of the world's electrical power plants will rise by over 60% by 2050.
  • Increasing Demand for Consumer Electronics- The increasing need for portable power sources in medical equipment, consumer electronics, and military technology has increased the demand for direct methanol fuel cells since as long as fuel and oxygen are given to the fuel cell, they can continually supply energy to consumer electronics.

Challenges

  • Presence of Alternate Fuel Cell Systems - There are other cost-effective fuel cell systems present in the market such as solid oxide fuel cells (SOFCs) are a class of fuel cells distinguished by the use of a solid oxide material as the electrolyte and are highly efficient electrochemical devices that produce electricity, water, heat, and small amounts of carbon dioxide after converting hydrogen and carbon monoxide from hydrocarbon fuels. Besides this, the proton exchange membrane fuel cell (PEMFC) has electrodes made of platinum and an electrolyte made of an acidic polymer membrane based on water and is considered one of the most promising electrochemical-generating systems for clean and efficient power generation in the twenty-first century. Moreover, alkaline fuel cells (AFCs) were among the first fuel cell types to be thoroughly studied, and NASA has been using them in the Apollo and space shuttle missions since the mid-1960s as they possess the benefit of being less susceptible to fuel contaminants.
  • Exorbitant cost of direct methanol fuel cells and high operating expenditures may limit the adoption
  • Manufacturing of Direct Methanol Fuel Cell Lacks Standardization

Direct Methanol Fuel Cell Market: Key Insights

Base Year

2023

Forecast Year

2024-2036

CAGR

~15%

Base Year Market Size (2023)

~ USD 3 Billion

Forecast Year Market Size (2036)

~ USD 9 Billion

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)
Get more information on this report: Request Free Sample PDF

Direct Methanol Fuel Cell Segmentation

Application (Portable, Stationary, Transportation)

The portable segment in the direct methanol fuel cell market is estimated to gain a robust revenue share of 64% in the coming years. Owing to its suitable properties for portable devices, the direct methanol fuel cell (DMFC) is currently the main focus of fuel cell development for portable applications to be used as power sources for portable devices such as laptops and mobile phones. Currently, a system for portable applications is being developed using direct methanol fuel cell technology to supply the necessary electricity for portable devices such as laptops, eliminating the need to plug the device into the electrical grid to recharge.

Component (Bipolar Plates, Membranes, Catalysts, Current Collectors)

The bipolar plates segment in the direct methanol fuel cell market is set to garner a notable share shortly. Typically, a DMFC is made up of bipolar plates, a membrane electrode assembly that includes the electrodes, catalysts, and membrane electrolyte amongst which the crucial component of direct methanol fuel cells and hydrogen fuel cells are bipolar plates which are used to enhance compressive strength, and are offered to encourage fuel supply, enhance fuel dispersibility, expand the reaction area between fuel and the catalytic layer, and ultimately enhance fuel cell performance. Moreover, the anode and cathode flow fields on the bipolar plates are grooved, and they play a crucial role in the stability and performance of the cell stack, and serve as a support structure, electrically connect the cells, and divide the reactant gasses from neighboring cells to help regulate the flow of heat and water through the cell.

Our in-depth analysis of the global direct methanol fuel cell market includes the following segments:

     Component

  • Bipolar Plates
  • Membranes
  • Catalysts
  • Current Collectors

     Application

  • Portable
  • Stationary
  • Transportation

     Type

  • Serpentine Flow Field Design
  • Parallel Flow Field Design

Want to customize this research report as per your requirements? Our research team will cover the information you require to help you take effective business decisions.

Customize this Report

Direct Methanol Fuel Cell Industry - Regional Synopsis

APAC Market Forecast

The direct methanol fuel cell market in Asia Pacific is predicted to account for the largest share of 55% by 2036 impelled by the growing production of methanol. Methanol fuel has been explored and tested in China for the past ten years to assist the country in meeting its carbon-neutrality target more quickly and transform the automotive sector. In China, the majority of China's methanol comes from its farms, with the remaining supplies coming from natural gas and cooking gas, a byproduct of steel manufacturing. For instance, China is currently the world leader in the production and use of methanol, accounting for more than 55% of the global supply.

In addition, in India, one of the most promising and appropriate energy sources for many military applications is fuel cells, which also assist the nation in reducing the cost of its petroleum imports and combating the issue of global warming brought on by excessive CO2 emissions.

North American Market Statistics

The North America direct methanol fuel cell market is estimated to be the second largest, during the forecast timeframe led by the growing prevalence of power outages. The frequency, duration, and intensity of extreme weather events are increasing as a result of climate change, placing further strain on the nation's aging overburdened electrical infrastructure, which has led to over 75% more weather-related power disruptions on average annually in the United States.

Research Nester
Direct Methanol Fuel Cell Market Size
Get more information on this report: Request Free Sample PDF

Companies Dominating the Direct Methanol Fuel Cell Market

top-features-companies
    • SFC Energy AG
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis
    • 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
    • Antig Technology Co. Ltd.
    • DuPont Fuel Cell
    • Polyfuel Inc
    • Blue World Technologies

In-the-news

In The News

  • SFC Energy AG announced a partnership with Toyota Tsusho to extend direct methanol fuel cells and SFC hydrogen exclusive sales to Thailand, the Philippines, and Vietnam, and further develop the markets in China and Southeast Asia, with a target sales volume of more than EUR 90 million by 2025.
  • Ballard Power Systems Inc. partnered with NFI Group Inc. to concentrate on fuel cell-powered bus deployment levels for all of NFI's main brands to accelerate the shift to zero-emission transportation in response to the rising demand for fuel cell buses. 

Author Credits:  Payel Roy, Dhruv Bhatia


  • Report ID: 5681
  • Published Date: Feb 20, 2024
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

The increasing adoption of renewable energy sources across the globe and the growing consumption of methanol are the major factors driving the growth of the market.

The market size of direct methanol fuel cell is anticipated to attain a CAGR of 15% over the forecast period, i.e., 2024-2036.

The major players in the market are 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, Antig Technology Co. Ltd., DuPont Fuel Cell, and others.

The portable segment is anticipated to garner the largest market size by the end of 2036 and display significant growth opportunities.

The market in the Asia Pacific region is projected to hold the largest market share by the end of 2036 and provide more business opportunities in the future.
Direct Methanol Fuel Cell Market Report Scope
  GET A FREE SAMPLE

FREE Sample Copy includes market overview, growth trends, statistical charts & tables, forecast estimates, and much more.

 Request Free Sample Copy

Have questions before ordering this report?

Inquiry Before Buying