Direct Methanol Fuel Cell (DMFC) Market Growth Probability, Leading Vendors and Future Scenario By 2024-2031
DMFC market is anticipated to grow at a significant CAGR of 12.8% during the forecast period. The growing demand for renewable sources of energy globally to reduce carbon footprints is a key factor driving the growth of the global DMFC market. However, the high cost of the cell technology may restrain its market growth.
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With growing consumer interest, private and public organizations are increasingly focusing on R&D aimed at improving DMFC efficiency, power output, and durability by exploring advanced materials and design configurations. This has led to collaborative initiatives between academia, industry, and government entities, supported by significant investments, eventually accelerating technological advancements and facilitating the commercialization of DMFCs for various applications. For instance, in July 2023, the US Department of Energy (DOE) announced $72 million in funding for small businesses to pursue scientific, clean energy, and climate research, development, and demonstration projects. This funding includes $8.6 million for 43 hydrogen and fuel cell projects across 16 states.
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- Market Coverage
- Market number available for – 2024-2031
- Base year- 2024
- Forecast period- 2024-2031
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Market Segmentation
Global DMFC Market by Application
- Portable Electronic Devices
- Transportation
- Stationary
Company Profiles
- Antig Technology Co., Ltd.
- Ballard Power Systems Inc.
- Blue World Technologies ApS
- Dantherm Power
- ElectroChem, Inc.
- Enocell AB
- FuelCell Energy Inc.
- Fujikura Ltd.
- Horizon Fuel Cell Technologies
- Intelligent Energy Holdings plc
- MeOH Power, Inc.
- MTI MicroFuel Cells Inc.
- MyFC AB
- Neah Power Systems, Inc.
- Nuvera Fuel Cells
- Oorja Protonics Inc.
- Powerzinc Electric, Inc.
- Proton Motor Fuel Cell GmbH
- Serenergy A/S
- SFC Energy AG
- TreadStone Technologies, Inc.
- Ultracell Corp.
- VIASPACE Inc.
The Report Covers
- Market value data analysis of 2023and forecast to 2031.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global DMFCmarket. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
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