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Global Microbial Fuel Cell (MFC) market to witness a CAGR of 9.2% during 2018-2024

1164 Days ago

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:

  • The global microbial fuel cell market is likely to reach USD 18.1 million by 2024
  • Unmediated segment held a considerable share of the market in 2017, and is likely to witness a healthy CAGR during 2018 to 2024
  • North America dominated the global market in 2017, however Asia-Pacific is expected to grow at the fastest CAGR over the forecast period
  • Some of the key companies operating in the industry include Cambrian Innovation Inc.; Sainergy Tech, Inc.; MICROrganic Technologies; Prongineer; Vinpro Technologies; Triqua International BV; Fluence Corporation; among others
  • As of January 2019, Cambrian Innovation and Tree House Brewing Company, based in Massachusetts, have partnered to implement a cutting edge on-site wastewater treatment system in order to treat effluent for industrial reuse. The company would treat the brewery’s wastewater using its next generation EcoVolt Reactor.    

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.

Browse full research report with TOC on  " Global Microbial Fuel Cell (MFC) Market Outlook, Trend and Opportunity Analysis, Competitive Insights, Actionable Segmentation & Forecast 2024" at: https://www.energiasmarketresearch.com/global-microbial-fuel-cell-mfc-market-report/

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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

  • Single chambered
  • Double chambered
  • Stacked

By Type

  • Mediated
  • Unmediated
  • Phototrophic bio film
  • Soil-based
  • Others

By Application

  • Power generation
  • Education
  • Wastewater treatment
  • Biosensor
  • Others

By End-Use

  • Power
  • Agriculture
  • Medical
  • Education
  • Food & Beverage
  • Others

By Region

  • North America
  • Europe
  • Asia-Pacific
  • Central & South America (CSA)
  • Middle East & Africa (MEA)

About Energias Market Research Pvt. Ltd. -

Energias Market Research launched with the objective to provide in-depth market analysis, business research solutions, and consultation that is tailored to our client’s specific needs based on our impeccable research methodology.

With a wide range of expertise from various industrial sectors and more than 50 industries that include energy, chemical and materials, information communication technology, semiconductor industries, healthcare and daily consumer goods, etc. We strive to provide our clients with a one-stop solution for all research and consulting needs.

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