Asia-Pacific Direct Methanol Fuel Cell Market Size
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | > 14.00 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Asia-Pacific Direct Methanol Fuel Cell Market Analysis
The Asia-Pacific direct methanol fuel cell market is anticipated to register a CAGR of over 14% during the forecast period.
The market was negatively impacted by COVID-19 in 2020. Presently the market now reached pre-pandemic levels.
- Over the medium term, with the increasing focus on adopting clean energy and improving fuel efficiency, the use of fuel cells for various applications such as transportation, stationary, and portable applications is expected to drive market growth in the future.
- On the other hand, a wide variety of other fuel cell technologies are available, including solid oxide fuel cells, proton-electron membrane fuel cells, and alkaline fuel cells. It is expected to hamper the growth of the market.
- Nevertheless, the direct methanol fuel cell (DMFC) eliminates the need for charging infrastructure for the battery. In addition, methanol is relatively inexpensive, includes a relatively high energy density, and is easily transported and stored in warehouses, thus likely to support the market. In turn, this is likely to create huge opportunities for market players shortly.
- China is expected to dominate the direct methanol fuel cell market. Due to the growing use of electric vehicles and the increase in demand for consumer electronics caused by urbanization and power purchase parity, electric vehicle deployment is increasing.
Asia-Pacific Direct Methanol Fuel Cell Market Trends
Portable Segment to Dominate the Market
- A feat of miniaturization, the fuel cells are lightweight yet powerful and long-lasting. These fuel cells are leading the field in off-grid power & mobile applications for mission-critical communication, information technology, optronics, sensors, and auxiliary power. Fuel cells such as these rely on direct methanol fuel cell (DMFC) technology, which transforms methanol directly into electrical current. Cartridges of liquid methanol make transporting the fuel from one location to another easy.
- A fuel cell is an electrochemical device that converts a fuel like methanol into electricity efficiently and cleanly without burning. Fuel cells are permanently installed in notebook computers where batteries are now found. Fuel for the fuel cell is provided by a small disposable cartridge inserted into the computer.
- The advantages of a fuel cell are longer-lasting power compared to a rechargeable battery, instantaneous recharging by simply replacing the disposable fuel cartridge, nontoxic disposal, and lightweight. As a result, many companies are developing methanol fuel cells as a new, clean alternative power source for portable electronic devices.
- Notebook computers and mobile phones powered by fuel cells are projected to use approximately 100 disposable fuel cartridges during their useful lives, creating a recurring and potentially very large revenue stream. It was predicted that up to 22% of notebook computers and 2.5% of mobile phones would be powered by fuel cells, resulting in an annual demand for more than three billion cartridges.
- A fuel cell or cartridge made from methanol is efficient, clean, and safe. It is approved to carry on airplanes by the International Civil Aviation Organization. As a result of these approvals, portable electronic device fuel cells are expected to be adopted more widely and more rapidly.
- An increasing number of portable consumer electronic devices rely on batteries, such as laptops, smartphones, digital cameras, and music players, which is expected to increase the demand for portable batteries worldwide. Moreover, with the increased shipments of consumer electronics, such as smart watches, wearable health monitoring devices, and smart glasses, portable batteries are expected to grow tremendously during the forecast period.
- Asia-Pacific is the major hotspot for portable batteries. The significant factor of this growth is the high consumption of smartphones and other mobile accessories. The region accounts for over 60% of the global population, and the countries in the region are developing, thereby causing more demand for smartphones, tablets, and other portable accessories.
- In 2021, the number of smartphones shipped across India reached 160.7 million, up from 149.7 million in the previous year. The growth rate from year to year was 7.3%.
- Therefore, owing to the above points, the portable segment is expected to grow significantly during the forecast period.
China Expected to Dominate the Market
- In China, the market studied is mainly driven by the increasing deployment of electric vehicles and high demand for consumer electronics with urbanization and increasing power purchase parity.
- The future belongs to electric cars, and there is a hybrid system for extending their mileage. Direct methanol fuel cells (DMFCs) provide safe, lightweight, onboard battery charging, freeing car owners from worrying about running out of power. An electric vehicle battery is used in the hybrid system, along with a fuel cell cartridge and DMFC fuel cell.
- China is the largest market for electric vehicles (EVs), with over 3.33 million EVs sold in 2021. It is expected to remain the world's largest electric car market. China accounted for almost 40% of global electric car sales in 2021.
- The increasing adoption of EVs is in line with the country's clean energy policy. The Government of China is planning to ease restrictions on automakers importing cars into the country to reduce the demand-supply gap.
- Policy developments include restricting investment in new internal combustion engines (ICE) vehicle manufacturing plants.
- Hence, with the increasing adoption of EVs and favorable government policies in the country, the use of direct methanol fuel cells is expected to increase as these cells can increase the range of the vehicle.
- Direct methanol fuel cells provide clean, quiet backup power for cellular base stations. The increasing penetration of telecommunication services provides an opportunity for the growth of the battery demand in the telecommunication segment in China. As of June 2022, 99.6% of internet users in China used mobile phones to access the internet. By the end of the first half of 2022, the number of mobile internet users in China had reached approximately 1.05 billion.
- Thus, with the rise in subscribers, the requirement for telecommunication towers in the country is expected to increase. It would foster the demand for fuel cells required for backup purposes.
- The abovementioned factors are expected to drive the demand for the direct methanol fuel cell market over the study period.
Asia-Pacific Direct Methanol Fuel Cell Industry Overview
The Asia-Pacific direct methanol fuel cell market is moderately fragmented. Some of the major players in the market (in no particular order) include Fujikura Ltd., Horizon Fuel Cell Technologies, SFC Energy AG, Antig Technology Co., Ltd, and Viaspace Inc.
Asia-Pacific Direct Methanol Fuel Cell Market Leaders
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Fujikura Ltd.
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Horizon Fuel Cell Technologies
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SFC Energy AG
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Antig Technology Co., Ltd
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Viaspace Inc.
*Disclaimer: Major Players sorted in no particular order
Asia-Pacific Direct Methanol Fuel Cell Market News
- February 2023: China Petroleum & Chemical Corporation (Sinopec) launched the country's first methanol-to-hydrogen and hydrogen refueling station in Dalian, China. An advancement from the previous fueling station offering oil, gas, hydrogen, and electric charging services, the integrated complex can deliver 1,000 kg of hydrogen a day, with a purity of 99.99%.
- April 2022: TecNrgy and SFC Energy signed a joint venture agreement to manufacture hydrogen and methanol fuel cells in India. As part of the venture, a manufacturing facility, a research and development center, and a repair facility will be established in Gurugram, Haryana.
Table of Contents
1. INTRODUCTION
1.1 Scope of the Study
1.2 Market Definition
1.3 Study Assumptions
2. EXECUTIVE SUMMARY
3. RESEARCH METHODOLOGY
4. MARKET OVERVIEW
4.1 Introduction
4.2 Market Size and Demand Forecast in USD billion, till 2027
4.3 Recent Trends and Developments
4.4 Government Policies and Regulations
4.5 Market Dynamics
4.5.1 Drivers
4.5.2 Restraints
4.6 Supply Chain Analysis
4.7 Porter's Five Forces Analysis
4.7.1 Bargaining Power of Suppliers
4.7.2 Bargaining Power of Consumers
4.7.3 Threat of New Entrants
4.7.4 Threat of Substitutes Products and Services
4.7.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 Application
5.1.1 Stationary
5.1.2 Portable
5.1.3 Transportation
5.2 Geography
5.2.1 China
5.2.2 India
5.2.3 Japan
5.2.4 South Korea
5.2.5 Rest of Asia Pacific
6. COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Strategies Adopted by Leading Players
6.3 Company Profiles
6.3.1 Fujikura Ltd.
6.3.2 Horizon Fuel Cell Technologies
6.3.3 SFC Energy AG
6.3.4 Antig Technology Co., Ltd
6.3.5 Viaspace Inc.
6.3.6 Oorja Protonics, Inc
6.3.7 FC TecNrgy Pvt Ltd
6.3.8 Ballard Power Systems Inc.
6.3.9 Guangzhou Neerg Eco Technologies Co., Ltd.
6.3.10 XNRGI, Inc.
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Asia-Pacific Direct Methanol Fuel Cell Industry Segmentation
The direct methanol fuel cell (DMFC) is an electrochemical energy conversion device that converts the chemical energy of liquid methanol directly into electrical energy without requiring intermediary processes or moving parts, making it an efficient energy source.
The Asia-Pacific direct methanol fuel cell market is segmented by application and geography. The market is segmented by application into stationary, portable, and transportation. The report also covers the market size and forecasts for the direct methanol fuel cell market across the major countries in the region. Each segment's market sizing and forecasts are based on revenue (USD billion).
| Application | |
| Stationary | |
| Portable | |
| Transportation |
| Geography | |
| China | |
| India | |
| Japan | |
| South Korea | |
| Rest of Asia Pacific |
Frequently Asked Questions
What is the current Asia-Pacific Direct Methanol Fuel Cell Market size?
The Asia-Pacific Direct Methanol Fuel Cell Market is projected to register a CAGR of greater than 14% during the forecast period (2024-2029)
Who are the key players in Asia-Pacific Direct Methanol Fuel Cell Market?
Fujikura Ltd., Horizon Fuel Cell Technologies, SFC Energy AG, Antig Technology Co., Ltd and Viaspace Inc. are the major companies operating in the Asia-Pacific Direct Methanol Fuel Cell Market.
What years does this Asia-Pacific Direct Methanol Fuel Cell Market cover?
The report covers the Asia-Pacific Direct Methanol Fuel Cell Market historical market size for years: 2020, 2021, 2022 and 2023. The report also forecasts the Asia-Pacific Direct Methanol Fuel Cell Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Asia-Pacific Direct Methanol Fuel Cell Industry Report
Statistics for the 2024 Asia-Pacific Direct Methanol Fuel Cell market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Asia-Pacific Direct Methanol Fuel Cell analysis includes a market forecast outlook to for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
