Direct Methanol Fuel Cell Market Size, Share and Growth 2022

Muthyala05 Apr, 2023Business

The global direct methanol fuel cell market size was valued at USD 165.9 million in 2021 and is poised to grow at a significant CAGR of 14.5% during the forecast period 2022-28. Direct methanol fuel cell is expected to drive market growth. Compared to combustion engines or gas turbine engines due to DMFCs run without any components, resulting in silent operation. Furthermore, there are fewer moving components, little mechanical friction, resulting in less wear and tear and lower maintenance. The lesser maintenance of technology results in application downtime and operating costs, resulting in more money saved in the long run, which has attracted the attention of users in adopting direct methanol fuel cell.