Microbial Fuel Cell Market Research Report – Global Forecast till 2023
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.
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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.
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By type, the global microbial fuel cell market 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.
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 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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