The microbial fuel cell market is predicted to develop at a 9% CAGR between 2018- 2023, states the recent Market Research Future (MRFR) analysis. Microbial fuel cell, simply put, is a form of bio-electrochemical device which uses bacteria as a catalyst for oxidizing inorganic and organic matter and generating current. Besides, this also helps in transforming chemical energy into electricity through oxidation-reduction reactions.
Various factors are propelling the global microbial fuel cell market share. According to the recent MRFR report, such factors include the growing demand for energy, growing environmental awareness, favorable government initiative, no harmful by-products, and growing population. Additional factors fuelling market growth include the increasing government support at different research and development levels, deployment, and demonstration of microbial fuel cell systems at industries and research laboratories, and increasing focus by key players on system optimization, isolation of exo-electrogens, electrode development, membrane selection, and reactor design to augment the capacity of power generation of microbial fuel cell devices.
On the contrary, higher cost, high technical needs, and the on-going COVID-19 pandemic are factors that may impact the global microbial fuel cell market growth over the forecast period.
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The MRFR report highlights an inclusive segmental analysis of the global microbial fuel cell market based on end user, application, and type.
Based on the region, the global microbial fuel cell market report covers the growth opportunities and recent trends across the Asia Pacific (APAC), North America, Europe, & the Middle East and Africa (MEA). Of these, North America will dominate the market over the forecast period. Growing investments by the government on research and development activities, ever-growing population, flourishing industrial sector, depleting fossil fuel reserves, & environmental concerns are adding to the global microbial fuel cell market growth over the forecast period.
The global microbial fuel cell market in the APAC region is predicted to have healthy growth over the forecast period. The presence of highly populous countries like Japan, China, and India and the use of microbial fuel cells to obtain clean and low-cost clean power supply are adding to the global microbial fuel cell market growth in the region.
The global microbial fuel cell market in Europe is predicted to have sound growth over the forecast period. Increasing investments in R&D in the renewable technology sectors are adding to the global microbial fuel cell market growth in the region.
The global microbial fuel cell market in the MEA is predicted to have steady growth over the forecast period. The presence of economically backward regions coupled with the majority living in remote places has increased the demand for microbial fuel that is used as a key technology to generate electricity, thus adding market growth.
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Table Of Contents
1 Executive Summary
2 Market Introduction
2.1 Market Definition
2.2 Scope Of The Study
2.3 Market Structure
3 Research Methodology
3.1 Primary Research
3.2 Secondary Research
3.3 Market Size Estimation
3.4 Forecast Model
3.5 List Of Assumptions
3.6 Limitations Of The Study
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