9.65% CAGR Growth in Microbial Fuel Cell Market |17,000+ Technavio Reports

NEW YORK, Dec. 8, 2021 -- The microbial fuel cell market will grow by USD 7,737.37 thousand, as per the latest market outlook report from Technavio. The report identifies the market to witness an accelerating growth momentum at a CAGR of 9.65% from 2021 to 2026. The report also offers a comprehensive analysis on the various factors influencing the market growth positively and negatively during the forecast period.

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Microbial Fuel Cell Market Driver and Challenge Analysis

The increase in demand for potable water and wastewater treatment is notably driving the microbial fuel cell market growth. The growing global stress due to depleting water resources is increasing the demand for water and wastewater treatment chemicals. Geographically, countries and various states that have a huge industrial base and a high population, such as California in the US and Chennai in India, are water-stressed locations. These factors are expected to increase the demand in the global microbial fuel cell market during the forecast period. In addition, increasing demand for energy and rising investments in R&D activities by governments will further accelerate the market's growth during the next few years.

However, the increasing adoption of renewable energy sources will be a major challenge for the microbial fuel cell market during the forecast period. The increase in the adoption of renewable energy sources would result in a decline in the use of fossil fuels for fulfilling energy demand. This shift from fossil energy to renewable energy sources can be a threat to the thermoelectric power plants, which consume water extensively. With lesser water consumed, lesser wastewater will be generated, which can pose a challenge to the growth of the global microbial fuel cells market. Furthermore, high initial investment for set up of water treatment plants and advanced technologies and low electricity production are some other challenges likely to limit the market growth during the forecast period.

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Microbial Fuel Cell Market Segment Analysis

Technavio analyzes the market by Application (wastewater treatment, bioenergy, and biosensors) and Geography (Americas, EMEA, and APAC). The wastewater treatment application segment led the market share in 2021 and will continue to hold its dominant position in the market during the forecast period. The segment held over 63% of the overall market share in 2020 as microalgae-based micorfuel cells are used for producing electricity from wastewater. These MFCs usually help in overcoming the problems of fossil fuel depletion and pollution caused by the generation of electrical energy from sewage and sunlight.

In terms of Geography, Americas emerged as the largest revenue-generating regional segment of microbial fuel cell market in 2021. Large investments in R & D by governments and other institutions in various countries to develop MFCs provide a favorable opportunity for the market. In addition, there has been an increase in awareness about the advantages of sanitization, clean drinking water, recyclable paper, and others among people post-pandemic. This has further led to the growth of the microbial fuel cells market during the forecast period.

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Microbial Fuel Cell Market Scope

This report presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters.

Microbial Fuel Cell Market Sizing
Microbial Fuel Cell Market Forecast
Microbial Fuel Cell Market Analysis

Microbial Fuel Cell Market Vendor Analysis

The microbial fuel cell market is concentrated and the vendors are deploying growth strategies such as forming strategic partnerships to compete in the market. Vendors are adopting innovative strategies including product differentiation and M&As to strengthen their foothold in the market. For instance, In March 2021, Doosan Fuel Cell Co. Ltd. partnered with KSOE on the development of maritime fuel cells. 

Some Companies Covered in the Report

• Cambrian Innovation Inc.
• Doosan Fuel Cell Co. Ltd.
• Electrochemical Products Inc.
• Fluence Corp. Ltd.
• MICROrganic Technologies
• Prongineer Research and Development Ltd.
• Sainergy Tech Inc.
• Vinpro Technologies

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Related Report:

Produced Water Treatment Market by Application and Geography - Forecast and Analysis 2021-2025

Key Topics Covered:

• Executive Summary
• Market Landscape
• Market Sizing
• Five Forces Analysis
• Market Segmentation by Application
• Customer landscape
• Geographic Landscape
• Vendor Landscape
• Vendor Analysis
• Appendix

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