Global Supercapacitor Market to Grow at 19.8% CAGR Through 2024: Autumn Market Research
Autumn new market research report “Global Market for Supercapacitors: 2018 – 2024” estimates that the global supercapacitors market will reach $2.9 billion by 2024, growing at a CAGR of 19.8% over the forecast period (2019-2024). The market is primarily driven due to its increased application in hybrid automobiles, electronics and electrical equipment, and smart grid applications.
A supercapacitor, also called an ultracapacitor or electrochemical capacitor, is an electrical device with an ability to hold capacitance much higher than a standard capacitor. Supercapacitors utilize high surface area electrode materials and thin electrolytic dielectrics to achieve capacitances with much higher magnitude.
Supercapacitors are mainly used to deliver high power or where electrical energy storage is required. Over the decades, supercapacitors have evolved with technological advancement and transitioned into battery technology by making the use of electrode and electrolyte with special configurations.
- On April 28, 2017, Maxwell Technologies successfully completed its acquisition of substantially all the assets and business, including the operating entities, of Nesscap Energy, Inc. The company expects that this acquisition will enable them to deliver more products and technologies at a faster pace to their global customer base.
- On April 19, 2018, CAP-XX launched thin 3V supercapacitors. The company is expecting to deliver benefits in terms of cost savings of $0.27 to $0.31, or 20 to 25%, based on a single supercapacitor price of US$0.95 to $1.0, in comparison to 2.7V cells that require an LDO.
Asia-Pacific, the Fastest Growing Region
Asia-Pacific is expected to be the fastest growing region for supercapacitor market – witnessing the CAGR of more than 20% over the forecast period (2019-2024). The demand in this region is driven by factors such as rising per capita income, rapid urbanization, and high economic growth, which in turn is driving the demand for supercapacitors from various end-use industries such as electronics, automotive, industrial, and energy.
In North America and European regions, government regulations and initiatives toward use of environment-friendly products will drive the demand for energy-efficient electrical and electronic products based on supercapacitors through 2024.
Consumer Electronics and Automotive Sectors Dominate the Demand for Supercapacitors
In consumer electronics, supercapacitors are used primarily in memory backup and mostly energy storage system in electronic devices. Whereas, in automotive industry, they used primarily in electronically controlled braking (ECB) and electric power steering (EPS).
Consumer electronics and automotive industries collectively accounted for close to 75% share of the global supercapacitor market size in 2018. The demand for supercapacitors in consumer electronics industry is driven by its favorable properties such as energy storage system, peak power assist, and auxiliary power source. In automotive sector, supercapacitors provide the technology solutions for Kinetic Energy Recovery System (KERS) applications.
Global Supercapacitors Market - Key Players
AVX Corp., Axion Power International, CAP-XX, ELNA Co. Ltd., Elton, Graphene Laboratories, Jianghai Capacitor Co. Ltd, Jiangsu Shuangdeng Group Co. Ltd, Maxwell Technologies, Nesscap Energy, Nippon Chemi-Con Corp., Panasonic Corp., and XG Sciences are some of the prominent market players included in this report.
Global Supercapacitors Market - Segmentation
By product type: Double Layer Capacitor, Pseudo Capacitor, and Hybrid Capacitor
Applications in various end-use industries: Transportation and Automotive, Consumer Electronics, Industrial, Infrastructure, Medical, Aerospace and Defense, Energy, Smart Grids, and Others.
By region: North America, Europe, Asia-Pacific, South America, and ROW.
Intended Audience for Supercapacitor Industry Report:
- Supercapacitor Vendors
- Potential Investors
- Government Organizations
- Research and Consultancy Firms
- Network Equipment Vendors and Infrastructure Integrators
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Global Supercapacitor Market | Autumn Market Research
Autumn Market Research estimates that the Global Supercapacitor Market will reach $2.9 billion by 2024, growing at a CAGR of 19.8% over the forecast.