PUNE, India, May 4, 2016 /PRNewswire/ --
According to the new Market Research Report "Microbial Fuel Cell Market, By Industry (Agriculture, Healthcare, Food & Beverage, Government & Municipal, and Others), By Region - Global Forecast to 2025", the global microbial fuel cell market is expected to reach USD 18.6 million by 2025, at a CAGR of 9.5% from 2017 to 2025.
Browse 19+ market data tables and 30+ figures spread through 58 pages and in-depth TOC on "Microbial Fuel Cell Market, By Industry and Region - Global Forecast to 2025"
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The concept of microbial fuel cell (MFC) producing electricity was first devised in the early twentieth century. MFC is increasingly considered to be one of the most sustainable processes for energy creation as compared to conventional water treatment processes. However, the MFC market is still in the very initial stage of commercialization. At present, with no commercialized products, the market for MFC is yet to exist.
Universities, governments, and companies are heavily investing on their R&D resources for the future commercialization of MFC. Microbial fuel cells fulfil two very important purposes. They efficiently and economically treat wastewater, which has rich organic content, and also produce a significant amount of energy from renewable resources.
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In 2017, the government & municipal segment is estimated to dominate the global microbial fuel cell market, and this trend is expected to continue during the forecast period. This is attributed to the increasing interest of government and municipal bodies about MFC's potential, in the face of growing energy crisis and water scarcity. Government agencies and municipal bodies can use MFCs for sewage treatment, wastewater treatment, cleaning polluted lakes & rivers, and for handling other kinds of degradable organic waste.
North America has emerged as the leading region in terms of adoption and development of the microbial fuel cell technology.
The North American market has been extremely amenable and has contributed towards the development of the microbial fuel cell market. This region is expected to account for the largest share of the global microbial fuel cell market in 2017. The U.S. microbial fuel cell market is driven by huge incentives and R&D investments from the government as well as various enterprises. According to various universities and government agencies in the U.S., the microbial fuel cell technology would be cost-effective as compared to other options of renewable energy production from biomass. Moreover, in the U.S., municipal authorities from California, New York, Ohio, and others are involved in the research and development of MFC projects, and are working towards the MFC technology's commercialization.
Europe accounted for the second-largest share of the overall market, whereas, the microbial fuel cell market in the Asia-Pacific region is expected to grow at the highest CAGR during the forecast period. Middle East & Africa and the Latin American regions are also expected to witness significant growth over the forecast period.
Key Players of Global Microbial Fuel Cell Market includes:
Key players of the global microbial fuel cell market include Cambrian Innovation Inc., Emefcy, MICROrganic Technologies, Inc., Microbial Robotics, ElectroChem, Prongineer, and Triqua International BV. among others and so on.
The report discusses the current market trends, overall adoption scenarios, and competitive landscape as well as key drivers, restraints, and opportunities in this market. It aims to estimate the current size and future growth potential of this market across different industries, and regions. The scope of this report also covers analysis of developmental strategies, such as new product launches, mergers & acquisitions, partnerships, agreements, and collaborations of key vendors in the global microbial fuel cell market.
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