The “Supercapacitor Market by Product Type, Module Type, Material and Application: Global Opportunity Analysis and Industry Forecast, 2020-2027” report has been added to ResearchAndMarkets.com’s offering.
The global supercapacitor market size is expected to reach $16.95 billion by 2027 from $3.27 billion in 2019, growing at a CAGR of 23.3% from 2020 to 2027.
Supercapacitor is a new energy storage technology that is developed heavily in modern times to provide significant industrial and economic advantages. In addition, supercapacitors store energies in their electric field, but in case of batteries chemical compounds are used to store energies. In addition, owing to their advantage of quick charging and discharging supercapacitors are expected to enter the battery market.
The prominent factor that drives the supercapacitor market growth such as rise in demand for supercapacitors in automotive applications. There are several qualities, such as long shelf life, high power density, and fast charging function that supercapacitors feasible for automotive applications. In addition, rise in demand for renewable energy systems and favorable government regulations are expected to boost market growth. Long-term rise in worldwide gasoline prices have led governments to lay down regulations, which promote environmentally friendly and fuel-efficient means of transportation.
However, high initial costs of materials and low awareness of supercapacitors are anticipated to hamper growth of the market. Moreover, owing to their extended operational life, supercapacitors are widely used in solar and wind energy applications. Moreover, growth in demand for micro supercapacitors is expected to offer lucrative opportunities for growth of the supercapacitor market in the future.
The global supercapacitor market is analyzed by product type, module type, material, application, and region. By product type, it is fragmented into double-layer capacitors, pseudocapacitors, and hybrid capacitors. The pseudocapacitors segment dominated the market in terms of revenue in 2019, and is expected to follow the same trend during the forecast period. By module type, the market is segregated into less than 10 volts modules, 10 volts to 25 volts modules, 25 volts to 50 volts modules, 50 volts to 100 volts modules, and above 100 volts modules. The 10 volts to 25 volts modules segment accounted for the highest market share in 2019, whereas the above 100 volts modules segment is expected to grow at the highest CAGR from 2020 to 2027. By material, the market is classified into activated carbon, carbide derived carbon, carbon aerogel, and others. By application, it is categorized into automotive, industrial, energy, consumer electronics, and aerospace & defense.
- Growing Need for Supercapacitor in Automotive Application
- Rising Demand for Renewable Energy System
- Favorable Government Regulations
- High Initial Costs of Materials and Low Awareness of Supercapacitors
- Rising Adoption of Supercapacitor in Solar and Wind Energy
- Growing Demand for Micro Supercapacitors
- AVX Corporation
- Panasonic Corporation
- Cap-XX Limited
- SPEL Technologies Private Limited
- Nippon Chemi-Con Corporation
- Skeleton Technologies
- Ioxus Inc.
- LS Mtron Ltd.
- Evans Capacitor Company
- KORCHIP Corporation
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