Microbial Fuel Cell Market
Synopsis:
According
to Market Research Future (MRFR)’s assessment, the global microbial fuel cell
market is set to expand at 9% CAGR over the forecast period 2016 to 2023. MFC is
a bio-electrochemical system which transforms chemical energy into electricity
by using bacteria and mimicking bacterial interactions. It is used for power
generation applications that requisites low power. Furthermore, any organic
material is capable of being used for feeding these fuels. This, in turn, is
likely to enable the microbial fuel cell market to gain traction in the years
to come.
Rapid
urbanization in conjunction with strengthening global economy has intensified
the need for potable water across the world. It is projected to accelerate the
revenue creation for the players of the microbial fuel cell market as it uses microbial
flora for the generation of electricity. Thus, the increasing investments in
water treatment solutions are poised to boost the growth trajectory of the
market across the review period.
MFC
is gaining popularity at a rapid pace owing to its key advantage of cost-effectiveness.
It has a better cost-benefit than other alternatives available such as renewable
energy production from biomass. Thus, the report asserts that the market is
likely to remain highly attractive over the next couple of years. An inflow of
investments is forecasted which is poised to favor market expansion in the
foreseeable future.
Excessive
research & development activities are anticipated to be observed in the
microbial fuel cell market which is likely to dictate the growth trends of the
market. Supportive regulations framed by the governments for prompting the
adoption of MFC are further expected to propel the proliferation of the market
in the nearby future. On the flip side, the expensiveness of the components
associated with a microbial fuel cell is anticipated to hinder market growth
over the assessment period.
Microbial Fuel Cell Market
Segmentation:
By
type, the global Microbial
Fuel Cell Market Report has been segmented into mediator and
non-mediator.
By
application, the microbial fuel cell market has been segmented into power
generation, wastewater treatment, and biosensor.
By
end-user, the global microbial fuel cell market has been segmented into agriculture,
food & beverage, healthcare, government & municipal, and others.
Regional Analysis:
By
region, the global microbial fuel cell market has been segmented into North
America, Europe, Asia Pacific, South America, and the Middle East & Africa
(MEA). North America is currently leading the global market and is anticipated to
maintain its prominence over the next couple of years. The region is projected
to observe increasing investments across the review period. Furthermore, the
rising initiatives undertaken by the governments for accelerating the adoption
of MFC is presumed to augment the market in the years to come. The region is
also anticipated to witness a drastic rise in research & development
associated with MFC for defining the growth trajectory of the market in the
nearby future. Europe is also expected to exhibit a similar growth trend in the
upcoming years. It is anticipated to increase investment in the technology,
thus, augmenting the regional market.
Competitive Dashboard:
The
important players of the global microbial fuel cell market profiled in this
MRFR report are Pilus Energy LLC (US), Triqua International BV (The
Netherlands), Vinpro Technologies (India), Fluence Corporation Limited (US), Electrochem
Solutions and Emefcy Ltd (US), Prongineer R&D Ltd (Canada), MICROrganic
Technologies Inc. (US), and Sainergy Tech (US).
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