Supercapacitors Market to Register High Value Growth at 19.8% CAGR During 2018 to 2028 | Future Market Insights
VALLEY COTTAGE — Supercapacitors (also known as ultracapacitors), a type of capacitor, are energy storing components which have advanced features in comparison to conventional capacitors (electrolytic and ceramic capacitors), such as high energy density, faster charging and discharging, high power density, etc. A supercapacitor is made of electrodes, covered with a layer of activated carbon for increasing its surface area, and an electrolyte which acts as the separator or the dielectric, when compared to a convectional supercapacitor. Technological advancements have led to the introduction of two more types of supercapacitors, i.e. pseudo-capacitors and hybrid capacitors. Since their inception, due to the mixed features of a Li-ion battery and a supercapacitor, a high demand for hybrid capacitors is being witnessed in the market. Supercapacitors have applications across various industry verticals, especially in electronics, automotive and transportation, and energy and power. In addition to this, continuous research and development is under process for further enhancing the features of the product. Owing to this, graphene-based supercapacitors have also been launched in the market, which possess higher charge holding capacity when compared to hybrid capacitors. The market has witnessed considerable traction in the past, and is further expected to witness a boom during the forecast period.
The global supercapacitors market is expected to grow from US$ 908.1 Mn in 2018 to US$ 5,529.2 Mnby 2028, expanding at a CAGR of 19.8% in terms of revenue during the forecast period (2018-2028). In this report, the global supercapacitors market is tracked in terms of value, and is calibrated to obtain the market revenue estimates.
However, the high costs associated with the product and lack of awareness and resources in some countries, globally, and a higher preference for Li-ion batteries across some industry verticals are some of the major challenges that hamper the growth of the supercapacitors market.
To understand and assess the demand and opportunities in this market, the report is categorically split into four major sections, namely, market analysis – by type, by application, by vertical, and by region.
On the basis of type, the market is segmented into electrical double layer capacitors (EDLC), pseudo-capacitors, and hybrid capacitors. The EDLC segment is expected to dominate the market throughout the forecast period, and enjoy a market share of 74.9% and 67.0% in 2018 and 2028, respectively.
On the basis of application, the market is segmented into consumer electronic devices, automobiles, grid stabilization, trains, locomotive systems (cranes and elevators), aircraft, and others. Consumer electronics is expected to dominate the market in the majority duration of the forecast period. The automobiles segment is expected to overtake the consumer electronics segment in the latter half of the forecast period, owing to the high CAGR associated with it. The automobiles segment is expected to grow from US$ 199.4 Mn in 2018 to US$ 1,673.2 in 2028.
On the basis of vertical, the market is segmented into automotive and transportation, industrial, electronics, energy and power, military and defense, aerospace and aviation, and others. The automotive and transportation segment is expected to dominate the market throughout the forecast period, and enjoy a market share of 29.0% and 39.1% in 2018 and 2028, respectively.
The section – market analysis by region, includes an in-depth country level analysis of all global regions, namely, North America, Latin America, Western Europe, Eastern Europe, SEA and Others in Asia Pacific, Japan, China, and MEA, by product type, by printing technology, by industry, and by country; and provides market data in terms of value for 2018-2028. In 2017, the market in North Americadominated the overall global supercapacitors market (given Asia Pacific is considered separately as three regions, i.e. China, Japan, and SEA and Others of APAC), while the fastest growing region in the market is China. North America is further expected to hold a majority of the market share in 2028 as well.
The key players reported in this study on the global supercapacitors market are Maxwell Technologies, KEMET Corporation, Eaton, AVX Corporation, CAP-XX, Murata Manufacturing Co., Ltd., Nippon Chemi-Con, Ioxus Inc, Panasonic Corporation, Blue Solutions, YUNASKO, VINATech Co., Ltd., FastCAP, LS Mtron, and Tecate Group
In January 2017, Maxwell Technologies signed an agreement with CRRC-SRI for localizing its ultracapacitor manufacturing in China, for the energy bus market. This partnership enabled the company to compete more effectively in the Chinese bus market.
In April 2017, KEMET Corporation acquired NEC TOKIN Corporation, to add two additional manufacturing sites in Thailand and Japan, and a production center in Japan. In addition to this, the company added an additional product in its product portfolio, i.e. electric double layer capacitors (supercapacitors).
In April 2018, CAP-XX launched thin 3V supercapacitors for enhancing the data collection and transmission process, and for replacing batteries facing issues in delivering the power required for the same.