Global Market Size, Forecast, and Trend Highlights Over 2025-2037
Direct Methanol Fuel Cell Market size was valued at USD 3.25 billion in 2024 and is set to exceed USD 19.55 billion by 2037, expanding at over 14.8% CAGR during the forecast period i.e., between 2025-2037. In the year 2025, the industry size of direct methanol fuel cell is evaluated at USD 3.63 billion. The reason behind the growth is 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 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 set to reach over 120 million tons.
Direct Methanol Fuel Cell Sector: Growth Drivers and Challenges
Growth Drivers
- Growing demand for electricity - The most popular type of methanol fuel cell, which is based on the liquid fuel direct metal fuel cell 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.
- Presence of alternate fuel cell systems - There are other cost-effective fuel cell systems present in the direct methanol fuel cell market such as solid oxide fuel cells 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.
Challenges
- Presence of alternate fuel cell systems - There are other cost-effective fuel cell systems present in the direct methanol fuel cell market such as solid oxide fuel cells 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 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 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 obstruct its integration
- Lack of standardization in the production of direct methanol fuel cells is estimated to hinder the direct methanol fuel cell market expansion in the projection timeframe
Direct Methanol Fuel Cell Market: Key Insights
|
Base Year |
2024 |
|
Forecast Year |
2025-2037 |
|
CAGR |
14.8% |
|
Base Year Market Size (2024) |
USD 3.25 billion |
|
Forecast Year Market Size (2037) |
USD 19.55 billion |
|
Regional Scope |
|
Direct Methanol Fuel Cell Segmentation
Application (Portable, Stationary, Transportation)
In direct methanol fuel cell market, portable segment is poised to dominate over 64% share by 2037. Owing to its suitable properties for portable devices, the direct methanol fuel cell 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)
In terms of component segmentation, the bipolar plates segment in the direct methanol fuel cell market is expected to grow significantly till 2037. Typically, a DMFC is made up of 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 & performance of the cell stack.
Our in-depth analysis of the global direct methanol fuel cell market includes the following segments:
|
Component |
|
|
Application |
|
|
Type |
|
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 ReportDirect Methanol Fuel Cell Industry - Regional Synopsis
APAC Market Statistics
Asia Pacific industry is likely to dominate majority revenue share of 35% by 2037. This growth can be impelled by the growing production of methanol, as its 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. For instance, China is currently the world leader in the production and use of methanol, accounting for more than 55% of the global supply.
North American Market Statistics
The North America direct methanol fuel cell market is projected to escalate substantially reaching a growth of 25% during the forecast period. 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. This has led to over 75% more weather-related power disruptions on average annually in the United States.
Companies Dominating the Direct Methanol Fuel Cell Market
- 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
- 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: Dhruv Bhatia
- Report ID: 5681
- Published Date: Nov 27, 2024
- Report Format: PDF, PPT
