Increasing Demand for Electric Vehicle Technologies to Ensure Rapid Growth for the Supercapacitors Market
The global supercapacitors market is expected to grow at a CAGR of 17.1% from 2019 to 2027, beginning in 2018, with a market value of US$ 420.2 Mn. Supercapacitors are devices that store and discharge electrochemical energy via reversible adsorption and desorption of ions at the interface between electrolytes and electrode materials. Supercapacitors are also known as ultracapacitors due to their high capacitance value as compared to other capacitors, which have a lower voltage limit. Supercapacitors are used in various products, such as laptops, storage devices, automobiles, electric cars, and others.
Moreover, the increasing demand for electric vehicles is also increasing the demand for supercapacitors, which is also driving the market. The demand for supercapacitors is also increasing due to their properties of being eco-friendly and their ability to degrade easily as compared to batteries. Supercapacitors are better than lithium batteries in terms of lower heat production and cost. However, factors such as the low price of substitutes and limited awareness regarding the usage of supercapacitors can hamper the growth of the market.
Market Synopsis
Double Layer Capacitors continue to dominate the market in its Product Type Segment.
In 2018, the overall supercapacitors market was led by the double-layer capacitor, which contributed to a market share of around 45% of the total revenue generated globally. The double-layer capacitors are used in various equipment, such as portable electronics such as laptops, tablets, mobile phones, medical devices, and others, which increases their working efficiency, whereas hybrid capacitors are expected to emerge as the fastest-growing segment over the forecast period.
North America Dominates the Market by Region
The supercapacitors market was led by North America, which held a market share of around 30% in 2018. This region is projected to witness a growth of around 19% during the forecast period. In North America, the U.S. holds the largest market share in the region due to the early adoption of supercapacitors and their utilization in the automotive industry in the region. Additionally, increasing the number of EVs is also contributing to the growth of the market.
Moreover, various companies in the region are investing in the development of more advanced supercapacitors, leading to the growth of the market. Asia-Pacific is set to emerge as the fastest-growing regional market for supercapacitors. This is due in large part to the ever-flourishing electronics sector here, coupled with rapidly growing sales of electric vehicles.
Some of the prominent players operating in the supercapacitors market include Maxwell Technologies Inc. (Tesla Inc.), Panasonic Corporation, Nippon Chemi-Con Corp., LS Mtron Ltd., CAP-XX Limited, Murata Manufacturing Co. Ltd., Supreme Power Solutions, IOXUS Inc., JSR Micro NV, Shanghai Aowei Technology Development Co. Ltd., Taiyo Yuden Co. Ltd., TOKIN Corporation, Skeleton Technologies, AVX Corporation, Spel Technologies Private Limited, and Evans Capaci.
Historical and Forecast Period
This research report presents the analysis of each segment from 2017 to 2027,considering 2018as the base year for the research. The compound annual growth rate (CAGR) for each respective segment is calculated for the forecast period from 2019 to 2027.
Report Scope by Segments
The supercapacitors market report provides market size and estimates based on market dynamics and key trends observed in the industry. The report provides a holistic view of the global supercapacitors market based on product type, end-user, and geography. Key segments covered in the report are as follows:
Key questions are answered in this report.
What was the market size of supercapacitors in 2018, and what is the forecast up to 2027?
Which is the largest regional market for the double-layer capacitor segment among end users?
What are the major trends followed in the supercapacitors market across different regions?
Who are the key supercapacitor companies leading the market?
What are the key strategies adopted by the leading supercapacitor companies in the market?
Unique data points of this report
Statistics on supercapacitor penetration worldwide
Recent trends across different regions in terms of the adoption of supercapacitors for various end-user industries
The supercapacitor market is experiencing significant growth.
Attractive investment propositions for segments as well as geography
Comparative scenario for all the segments for years 2018 (actual) and 2027 (forecast)
Frequently Asked Question:
The market for Supercapacitors Market is expected to reach USD$ 420.2 Mn. in 2027.
The Supercapacitors Market is expected to see significant CAGR growth over the coming years, at 17.1%.
The report is forecasted from 2019 -2027.
The base year of this report is 2018.
Panasonic Corporation, Nippon Chemi-Con Corp., LS Mtron Ltd., CAP-XX Limited, Murata Manufacturing Co. are some of the major players in the global market.
