The global supercapacitor market was valued at US$ 5,979.67Mn in 2016 and is projected to register compound annual growth rate (CAGR) of over 15.24% from 2018 to 2026, according to a new report published by Transparency Market Research (TMR) titled “Supercapacitor Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018–2026.” Go green revolution adopted across the globe is one of the primary factors responsible for the robust growth of the supercapacitor market globally. Moreover, rising cost of fossil fuels and excessive carbon emissions are also expected to pave the way for alternative means of power supply across different application segments especially in automobiles and consumer electronics segments. Initiatives taken by different governments to reduce CO2 emission and to encourage sustainable consumption are predicted to drive the supercapacitor market in the coming years. In addition, inclination of different enterprises toward producing and storing energy from renewable sources owing to extensive depletion of natural resources is also anticipated to trigger the demand for supercapacitors globally.
The global supercapacitor market is segmented on the basis of application, product, type, and geography. By application, the supercapacitor market has been bifurcated into automotive and transportation, industrial, energy, consumer electronics, and others. The others segment includes application of supercapacitors in aerospace, military, and sensor technologies. On the basis of product, the supercapacitor market is segmented into double layer supercapacitor, pseudocapacitor, and hybrid capacitor. Based on type, the market can be classified into supercapacitor module, supercapacitor weldable cells, and board mounted supercapacitor. Geographically, the supercapacitor market can be segmented into North America, Asia Pacific, Europe, Middle East & Africa, and South America.
Consumer electronics industry expected to hold a prominent share during the forecast period
The consumer electronics industry is anticipated to hold the highest share for the year 2018. The significant adoption of double layer supercapacitors in the consumer electronics industry owing to comparatively lower power and energy needs is anticipated to be one of the major factors affecting the consumer electronics industry for the supercapacitor market. Furthermore, prominent adoption of supercapacitors in the consumer electronics industry in Asia Pacific is likely to boost the growth of the consumer electronics industry. Board mounted cells have a higher deployment in consumer electronics. Board mounted supercapacitor segment is set to have the highest share of the market during the forecast period 2018-2026.
Hybrid capacitors are projected to expand at the highest CAGR during the forecast period
Among the different product categories of supercapacitors, the double layer segment held the largest market share in 2016. Surge in demand for technologically advanced consumer electronics having high power density is expected to drive the market of double layer supercapacitors significantly. However, the hybrid capacitor segment is predicted to witness the fastest growth rate from 2018 to 2026. The adaptability of hybrid capacitors under extreme conditions and significant power and energy controlling capabilities are some of the major factors boosting growth of the segment.
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North America holding a prominent market share
By geography, North America held the largest share in the supercapacitor market in 2016. The supercapacitor market in North America is a mature market due to its higher penetration level. Europe occupied the second largest share in the global supercapacitor market. Initiatives taken by the European Commission in 2014 to achieve CO2 emission target of 95g/km by 2020 is responsible for the robust growth of the supercapacitor market in Europe.
The key players operating in the global supercapacitor market are Maxwell Technologies Inc. (U.S.), Panasonic Electronic Devices Co. Ltd. (Japan), Cap-XX (Australia), and Nippon Chemi-Con Corporation (Japan) among others.
Consumer electronics sector expected to be more lucrative for the global supercapacitors market:
The global supercapacitors market is bifurcated by end-use industry into automotive, industrial, energy, consumer electronics, and others. The others segment covers aerospace, military and sensor technology. Consumer electronics sector is expected to contribute significant revenues to the market by 2026 due to the increased implementation of supercapacitors technology in prominent devices used in consumer technologies such as mobiles and laptops. Furthermore, the increasing adoption of supercapacitors technology in consumer industry in major Asia Pacific countries such as China and Japan is expected to be one of the prominent reasons for market growth in consumer electronics industry over the forecast period. Furthermore, growing adoption of supercapacitors in the energy industry is anticipated to see a boost owing to the growing need to maintain high energy.
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Double layer supercapacitors are expected to have significant share in the supercapacitors market
Based on product type, the supercapacitors market is segmented into double layer supercapacitors, pseudocapacitors, and hybrid capacitors. Growth of the double layered supercapacitors is anticipated to be high due to the significant cost effectiveness provided by double layered supercapacitor. Significant adoption of double layered capacitors in major industries including consumer electronics and automotive are boosting the growth of double layered capacitors. Additionally, leading companies are focused on introducing enhanced EDLC (electric double layer capacitor) solutions. In May 2018, Panasonic Corporation launched the LF series of electric double layer capacitors with a significant focus on lifetime hours and low resistance. However, due to the significant temperature range, power, and energy capacity provided by hybrid capacitors, it is expected to expand at a higher CAGR value over the forecast period 2018-2026.
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