Global Direct Methanol Fuel Cell Market to Reach a CAGR of over 40% Until 2020, Says Technavio
According to the latest research study released by Technavio,
the global direct methanol fuel cell market is expected to attain a CAGR
of close to 40.47% until 2020.
This research report titled ‘Global
Direct Methanol Fuel Cell (DMFC) Market 2016-2020’,
provides an in-depth analysis of market growth in terms of revenue and
emerging market trends. This report projects market shares for key
segments that include, portable, transportation, and stationary
applications.
Request sample report: http://bit.ly/1oLd1xY
“The imminent need to save energy and high adoption of green technology
by many countries is driving the global DMFC market. At present,
governments worldwide are taking several initiatives, in terms of
investments in R&D for increasing energy efficiency and reducing
consumption. As a result, there is an increasing focus on
energy-efficient products for energy generation and storage, including
fuel cells. This trend is leading a growing awareness among consumers
about the use of DMFCs,” said Vishu Rai, one of Technavio’s lead
analysts for energy
storage research.
Global DMFC market by geography 2015
EMEA
|
|
|
|
|
39.40%
|
Americas
|
|
|
|
|
31.80%
|
APAC
|
|
|
|
|
28.80%
|
Top three segments of the global direct methanol fuel cell market:
-
Portable sector
-
Transportation and logistics application
-
General construction
Portable sector: largest contributor to the global direct methanol
fuel cell market
In 2015, DMFC shipments for portable application were close to 1,821
units, and it is likely to reach 9,738 units by 2020. DMFC is an ideal
technology for portable energy applications due to the following reasons:
-
Use of methanol as a fuel that enables rapid refilling
-
DMFC's capability to operate at low temperatures
-
Higher energy density of DMFC compared to other batteries
The military sector is a key emerging area for portable power DMFC
applications. The defense industry's demand for lightweight, portable
power solutions that reduces the weight carried by a soldier majorly
drives its adoption in the military. DMFC is used to power on-board
communication systems, sensors, and provide continuous power for weapon
systems during independent missions. In addition, these devices help
charge batteries that supply power to equipment.
Conventional batteries have been used to power soldiers' equipment, but
these are rendered insufficient during long missions. Hence, soldiers
need to carry additional batteries, leading to a compromise on space for
their ammunition and other essential supplies.
DMFC produces reliable power and also reduces the need for additional
batteries on a multi-day mission. As DMFC overcomes these problems, it
has replaced conventional batteries in these application areas.
Transportation and logistics: second largest
contributor to the global direct methanol fuel cell market
DMFC is an ideal power source for small vehicles such as forklifts and
tuggers and is also used indirectly in large vehicles as battery
chargers. As a fuel cell, DMFC offers similar operations and benefits as
that provided by a hydrogen-powered fuel cell in material handling
equipment.
DMFCs are expected to have faster refill times, long running times, and
high productivity. The technology is promising as it helps reduce
battery replacement time in material handling. In a battery-powered
forklifts require battery replacements from time to time.
However, when a DMFC is used, the refueling process is quick. This makes
the forklift available for operations for longer durations and
eventually leads to a reduction in fleet size, thus saving capital costs
for end-users. When used as a hybrid in the forklift, DMFC trickle
charges the battery while in operation or when it is parked. Owing to
its various benefits, DMFCs will likely witness a greater demand from
the transportation and logistics sector during the forecast period.
Global DMFC market by stationary application
Fast refilling, high energy density, and methanol’s capability to reduce
harmful emissions such as NOx are some inherent benefits of DMFC. It has
resulted in its popular use in stationary applications. Vendors such as
Oorja Protonics and SFC Energy have developed off-grid stationary
generators that can be used for power security and as surveillance
systems to provide backup for telecom towers and military applications.
For instance, SFC Energy provides off-grid hybrid energy solution where
DMFCs are used along with solar to provide power. Using DMFC also
eliminates the need to invest in large and heavy batteries for emergency
backup.
Base transmission telecom stations in developing countries are often
located in areas where there is limited access to grid power and the
electricity grid infrastructure is underdeveloped. Hence, the market is
witnessing a robust demand for clean, reliable, off-grid power solutions
to overcome this electricity problem and reduce dependence on fossil
fuels. In the future, this need will be wholly met by the use of DMFC to
power telecom towers.
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About Technavio
Technavio
is a leading global technology research and advisory company. The
company develops over 2000 pieces of research every year, covering more
than 500 technologies across 80 countries. Technavio has about 300
analysts globally who specialize in customized consulting and business
research assignments across the latest leading edge technologies.
Technavio analysts employ primary as well as secondary research
techniques to ascertain the size and vendor landscape in a range of
markets. Analysts obtain information using a combination of bottom-up
and top-down approaches, besides using in-house market modeling tools
and proprietary databases. They corroborate this data with the data
obtained from various market participants and stakeholders across the
value chain, including vendors, service providers, distributors,
re-sellers, and end-users.
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at media@technavio.com.
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