London, Nov. 02, 2022 (GLOBE NEWSWIRE) -- While global microbial fuel cell market is in infancy, the market awaits an excellent growth prospect in the next few years. A recently released report of Fairfield Market Research provides detailed growth analysis and forecast of global microbial fuel cell market during the period of assessment, 2021 – 2025. Up from the revenue worth US$9.7 Mn recorded in 2020, global microbial fuel cell (MFC) market is likely to hit the mark of US$15 Mn toward the end of 2025. Microbial fuel cell though first emerged as a viable solution to generation of bioelectricity for a few traditional application areas like wastewater treatment, and transportation, MFC has been penetrating newer areas of application over the recent past. The report states that the green energy initiatives will boost revenue generation to the market. With rising global population, demand for back-up energy generation will continue to ascend at an exponential rate. The role of renewables will be crucial in the market build-up.
Growing prominence of green fuel will further complement market growth. However, despite a host of supporting factors, microbial fuel cell market will continue to be challenged by certain factors in the long run. The report especially highlights high initial capital requirement. R&D will remain the key to cost reduction according to the report. With augmenting research funding, the MFC market will accelerate its journey toward cost reduction to overcome the cost-associated challenge in long term.
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Key Research Insights
- Between 2021 and 2025, global MFC market is poised for 9.8% growth
- Wastewater treatment remains the top application area and continues to hold a massive opportunity for MFC market players
- Asia Pacific recorded the maximum market value share in 2020, whereas North America, and Europe also represent high-potential markets
Insights into Segmental Analysis
Indoor MFC will remain dominant throughout the period of projection with more than 73% share in overall market value, says the report. Based on application, wastewater treatment is likely to remain the largest application segment, followed by power generation. MFC’s economic role in wastewater treatment applications will continue to sustain adoption, in turn fostering the growth of microbial fuel cell market.
Key Report Highlights
- Global COVID-19 pandemic caused a heavy plunge in demand for MFC as all the ongoing MFC pilot testing projects, and research activities around MFC encountered an abrupt halt during the initial months
- Mediator microbial fuel cell was the dominant fuel cell segment in 2020
- The extraordinarily high capital costs will remain the key roadblock to widespread adoption of MFC in addition to the limited power output of MFC
Insights into Regional Analysis
Regional analysis of microbial fuel cell market reveals that besides Asia Pacific, North America, and Europe will remain the key markets for MFC manufacturers. While Asia Pacific registered the largest market share in 2020, demand will be significantly higher across North America. The latter will remain a significant revenue contributor throughout the period of forecast with more than 36% market share. North America’s flourishing industrial sector, and surging demand for power generation are expected to drive the market growth here, led by the US as the report suggests that the US will remain at the forefront in attracting investments. On the other hand, Europe’s seismic shift toward green energy will fuel the expansion of microbial fuel cell market across Europe. Asia Pacific is likely to significantly gain from growing MFC adoption for wastewater treatment applications. Moreover, increasing MFC utilization in biosensors will also play an important role in market growth. China, and India will be in the bandwagon.
Key Players in Global Microbial Fuel Cell Market
Cambrian Innovation Inc, Vinpro Technologies, Open Therapeutics LLC, Triqua International BV, Sainergy Tech, Inc., MICROrganic Technologies, Prongineer, Fluence Corporation, Microbial Robotics, Emefcy, Protonex, ElectroChem Inc.
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REPORT SCOPE
| Report Attributes | Details | |
| Base Year | 2020 | |
| Forecast Year | 2021 - 2025 | |
| Market Size in 2020 | US$9.7 Mn | |
| Estimated Market Size in 2025 | US$15 Mn | |
| CAGR | 9.8 % | |
| Key Players | Cambrian Innovation Inc, Vinpro Technologies, Open Therapeutics LLC, Triqua International BV, Sainergy Tech, Inc., MICROrganic Technologies, Prongineer, Fluence Corporation, Microbial Robotics, Emefcy, Protonex, ElectroChem Inc. | |
Market Segmentation
Type Coverage
- Mediator Microbial Fuel Cell
- Mediator-Free Microbial Fuel Cell
Application Coverage
- Power Generation
- Wastewater Treatment
- Biosensor
- Others
End-user Coverage
- Agriculture
- Healthcare
- Food & Beverage
- Others
Geographical Coverage
- North America
- Europe
- Latin America
- Middle East & Africa
Leading Companies
- Triqua International
- Microrganic Technologies
- Emefcy
- Protonex Technology Corporation
- ElectroChem Inc.
- Prongineer
- Cambrian Innovation Inc.
- Open Therapeutics LLC
Report Inclusions
- Market Estimates and Forecast
- Market Dynamics
- Industry Trends
- Competition Landscape
- Type-wise Analysis
- Application-wise Analysis
- End User-wise Analysis
- Region-wise Analysis
- Country-wise Analysis
- Key Trends Analysis
- COVID-19 Impact Analysis
About Us
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.
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