Microalgal species are recently in the spotlight for biofuels production like biodiesel, bioethanol and biohydrogen. Algae are also used as a biofertiliser, source of nutrient and for controlling pollution. Algae being a photosynthetic organism are produced in the photo bioreactors. Hence the design and development of photobioreactors for maximum production of algae is very important. Apart from maximum production, other factors such as design, cost effectiveness of the bioreactor, purity of the algae produced, user friendly, low maintenance and space convenience need to be optimized. The bioreactors which are used for the purpose of growing algae are bubble column photobioreactor, airlift photo bioreactor, flat panel bioreactor, horizontal tubular photobioreactor, stirred tank photobioreactor etc. These bioreactors have their own advantages and disadvantages. Work is on for developing hybrid type of bioreactors which may overcome the limitations of the developed photobioreactors. This paper covers the salient features, limitations of developed photobioreactors and recent developments in the field of photobioreactors.