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NEW YORK, March 15, 2019 (GLOBE NEWSWIRE) -- The global microbial fuel cell market was valued at USD 9.8 million in 2017, and is likely to expand to USD 18.1 million by 2024, witnessing a CAGR of 9.2% over the forecast period. The growth can be primarily attributed to the increasing demand for wastewater treatment along with various government initiatives to promote renewable energy. Moreover, rising demand for energy as well as growing investment in research and development activities across the globe is further expected to propel the demand over the forecast period.
Microbial fuel cell (MFC), a relatively new approach for electrical power generation, uses microorganisms as catalysts to covert the chemical energy stored in organic substances into electrical one. As MFCs aid in the production of sustainable energy from organic wastes, the research in this field has intensified over the years. Also, the performance of MFCs highly depend upon complex technical as well as mechanical parameters that need to be improved and adapted for system conditions in order to develop the most efficient and practical device.
Key findings from the report:
Key applications of MFCs to drive the demand over the coming years
Growing use of microbial fuel cells across a wide range of applications such as electricity generation, wastewater treatment, and power supply to small devices, biosensors, education, among others, is a major factor driving the market. The wastewater treatment segment currently holds a significant share of the market, and the trend is likely to continue over the forecast period. Also, there is a rising interest from municipal bodies as well as the governments, towards the potential of MFCs for sewage treatment, cleaning polluted rivers & lakes, and for handling other degradable organic waste.
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Microbial fuel cell market - Regional insight
North America dominated the global market for microbial fuel cell in 2017, and is projected to maintain its dominance over the next seven years. The aforementioned growth can be primarily attributed to the growing investments in research & development along with huge incentives from government and other enterprises. However, Asia-Pacific is expected to emerge as the fastest growing region owing to the presence of key markets such as China, India and Japan coupled with the growing demand for MFCs across a wide variety of applications, particularly in rural areas.
The report segments microbial fuel cell market on the basis of design, type, application, end-use, and region.
By Design
By Type
By Application
By End-Use
By Region
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