Market Research Report
Microbial Fuel Cell (MFC) Market - Global Industry Analysis (2017 - 2020) - Growth Trends and Market Forecast (2021 - 2025)
|Microbial Fuel Cell (MFC) Market - Global Industry Analysis (2017 - 2020) - Growth Trends and Market Forecast (2021 - 2025)|
Published: September 9, 2021
Fairfield Market Research
Content info: 110 Pages
Delivery time: 1-2 business days
The latest market intelligence of Fairfield Market Research indicates that the wastewater treatment sector will remain the prominent demand generator. While commercial fuel cells have been widely used by the transportation industry, R&D continues to be the area of interest for companies in the fuel cell space. Growing efforts toward exploring other as many areas of application as possible, and maximising the efficiency of fuel cells are uplifting the prospects of other fuel cell categories like microbial fuel cell. Projected for a strong CAGR of 9.8% over 2020 - 2025, the global microbial fuel cell (MFC) market is set to exceed the valuation of US$15 Mn by the end of forecast period.
The limited resource availability, and heavy upsurge in demand for energy aggravate the global energy crisis. With the reserves of non-renewables diminishing at an alarming pace, the industry operators have been eyeing opportunities to explore the complete potential of renewables. Green fuel has taken the world by storm, receiving strong support from governments, as well as industry participants actively, or indirectly involved in sustainable fuel development. Heightening MFC consumption for wastewater treatment applications also aids in the recovery of microbes, and bacteria suitable for use as a feedstock for electricity generation.
Despite a slew of supporting factors, MFC continues to face some serious long-term challenges to the market growth. While the extraordinarily high capital costs will remain the key roadblock to widespread adoption, the limited power output of MFC further forestalls the scope for rapid market expansion. As improved research funding toward achieving enhanced efficiency is expected to aid in overall cost reduction, the market is likely to overcome the cost-associated challenge to a certain extent in the near future. The market for microbial fuel cell is currently in infancy, and still remains to take off as the renewables sector has a number of superior alternatives to it.
Driven by wastewater treatment applications, and growing MFC usage in biosensors, the market for microbial fuel cell in Asia Pacific dominates on a global level. China, and India are particularly expected to uphold the top positioning of Asia Pacific in the global MFC landscape. On the other hand, the North American market is set to thrive on the back of exploding hydrogen demand for power generation. Europe is also projected to continue to represent a key market, looking at the region's dynamically progressing research environment.
The report provides an elaborate strategic information of the most prominent players driving competition in the global microbial fuel cell market landscape. Some of the key companies include Protonex Technology Corporation, Emefcy, Triqua International, ElectroChem Inc., and Cambrian Innovation In.