PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1461170
PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1461170
Global Microbial Fuel Cell Market is valued at approximately USD 275.5 million in 2022 and is anticipated to grow with a healthy growth rate of more than 4.8% during the forecast period 2023-2030. Microbial Fuel Cells (MFCs) are non-combustive electrical energy producers that use organic materials as substrates, or the microorganisms' food, and bacteria as biocatalysts. These living bacteria transform Chemical energy into useful electrical energy as they digest the substrate. Microbial fuel cells (MFCs) have the capacity to employ agricultural residues such as manure, maize stover, or used straw bedding as substrates, along with waste products like rumen fluid to serve as a source for bio-catalysts. This utilization of commonly generated materials, often considered as waste, renders MFCs cost-effective to construct. The major market catalysts are considered mostly with the concern of building a eco-friendly environment such as, the need of using low cost renewable energy sources with less emissions of harmful chemicals and the growing population utilizing huge amount of water proposes the need of long term initiatives to sustain water in the planet. Another major driver to be considered is the government's initiatives and investments in aiding eco-friendly energy sources
According to the European Strategy and Policy Analysis System (ESPAS), by 2050 the levels of BOD, N, and P discharged into water bodies around the world are projected to increase by 11-32% (BOD), 46-62% (N) and 24-40% (P) which will increase the need to purify water into usable form serving as a platform to perform by the Microbial Fuel cell industries. According to the UN, by 2030, affordable energy from renewable sources are forecasted to account for 65% of the world's total electrical supply. By 2050, it could decarbonize 90% of the electricity industry, drastically reducing carbon emissions and assisting in the fight against climate change pushing the demand of clean energy sources like Microbio Fuel cells. Furthermore, Population growth, lifestyle changes, development, and agricultural practices are projected to increase the demand for water during the next 20 years by 30% from the current levels , proving various opportunities for the scope of Microbial Fuel Cell market.Microbial fuel cells are used in place of other fuel cells because of their excellent mechanical strength, electrical conductivity, and corrosion resistance.. However, the initial high investment of Microbial Fuel Cell in setting up the plant and technological advancements stifle market growth throughout the forecast period of 2023-2030.
The key regions considered for the Global Microbial Fuel Cell Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022 with a strong demand for microbial fuel cells which has resulted from rising electricity consumption in the industrial and residential sectors as well as a recent increase in consumer health consciousness and sanitization. Asia Pacific is expected to grow significantly over the forecast period due to their constant efforts & investments in research and development of modern technologies to create a sustainable eco-friendly environment.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
List of tables and figures are dummy in nature, final lists may vary in the final deliverable
List of tables and figures are dummy in nature, final lists may vary in the final deliverable