Global direct methanol fuel cells market projected to grow to USD 12.64 million by 2033.

From GlobeNewswire: 2024-08-15 03:00:00

The Global Direct Methanol Fuel Cells Market is projected to grow from USD 2.58 million in 2023 to USD 12.64 million by 2033, at a CAGR of 17.22%. Direct methanol fuel cells convert methanol directly into electricity, offering advantages like higher energy density compared to gaseous hydrogen. Market is dominated by key players such as Blue World Technologies and Panasonic Corporation.

The bipolar plates segment holds the largest share in the direct methanol fuel cells market, crucial for necessary activities like transporting reactant gases and regulating temperature. The portable segment is expected to dominate market application, offering higher energy density compared to traditional lithium-ion batteries. Asia-Pacific is poised to lead the market growth.

Europe is expected to grow rapidly in the direct methanol fuel cells market, driven by the increasing use of clean energy sources and investments in fuel cells. Major vendors in the market include SFC Energy AG, DMFC Corporation, and Panasonic Corporation. Recent developments include Robert Allan Ltd. creating the first methanol hybrid fuel cell tugboat. Market segmentation details components, applications, and regions for revenue forecasts.



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