LONDON, Sept. 15, 2021 /PRNewswire/ -- The climate change crisis has become the key driver for the global microbial fuel cell (MFC) market. The growing focus on MFC is attributable to its capability to generate electricity from organic and inorganic compounds. This is expected to create demand for MFC in areas that demand low-to-medium power. Analysts anticipate that the global MFC market will gain substantially from the rising electricity demand. According to Fairfield Market Research, the global microbial fuel cell (MFC) market is expected to be worth US$15.59 Mn by the end of 2025 from US$9.76 Mn in 2020. The global market is expected to register a CAGR of 9.8% between the forecast years of 2020 to 2025.
Investments in Research and Development for Scaling Microbial Fuel Cell Technology Promises Market Growth
The global microbial fuel cell market has been growing at a steady pace due to increasing investments to make this technology a feasible solution at a larger scale and across applications. The growing focus on transitioning towards renewable sources of energy is expected to bode well for the market in the coming years. MFC holds a wide scope for growth if the initial capital cost can be reduced. Thus, research to improve the output of MFC systems to deliver higher power at a reasonable cost is expected to change the market dynamics in the coming years.
Wastewater Treatment to Remain Leading Application Area in Global Microbial Fuel Cell Market
According to the report, the global cost of treating wastewater is about US$30 Bn per annum. This has encouraged various wastewater treatment facilities to come up with affordable solutions, driving up the demand for microbial fuel cell technology for the same purpose. MFCs have a twofold benefit to treating water. One, these cells eliminate environmental pollutants and bacteria from the water while producing electricity. Second, the electricity produced comes at a far cheaper cost, which can be used for residential purposes. Thus, the urgent need to derive maximum benefits from energy-consuming processes is expected to bode well for the global microbial fuel cell market during the forecast period.
Asia Pacific to Emerge as Leader as Demand for Renewable Sources of Energy Become a Necessity
Fairfield Market Research estimates that the global microbial fuel cell market will be led by Asia Pacific as the developing nations witness an unprecedented energy demand. The application of MFC in treating wastewater is expected to bring in tremendous investment in the region. Both India and China are on the precipice of redefining their energy mix with renewable sources of energy as the world looks at them with much curiosity. Analysts anticipate the Asian market for microbial fuel cells will soon witness a turning point as the nations seek eco-friendly energy solutions.
The market will also see scope for growth in developed economies of Europe and North America. The dependence of refineries and the industrial sector in North America on hydrogen, especially to treat wastewater will stoke demand for MFC. Europe will see a rise in research and development initiatives to upgrade microbial fuel cells for better performance.
Some of the key players operating in the global microbial fuel cell market are Cambrian Innovation Inc, Open Therapeutics LLC, Vinpro Technologies, Sainergy Tech, Inc., Triqua International BV, MICROrganic Technologies, Fluence Corporation, ElectroChem Inc., Prongineer, Microbial Robotics, Emefcy, and Protonex.
Fairfield Market Research is a UK-based market research provider. Fairfield offers a wide spectrum of services, ranging from customized reports to consulting solutions. With a strong European footprint, Fairfield operates globally and helps businesses navigate through business cycles, with quick responses and multi-pronged approaches. The company values an eye for insightful take on global matters, ably backed by a team of exceptionally experienced researchers. With a strong repository of syndicated market research reports that are continuously published & updated to ensure the ever-changing needs of customers are met with absolute promptness.