Supercapacitor Market – Snapshot
Supercapacitor refers to a storage device of electrochemical energy that is capable of releasing as well as storing energy through desorption and reversible adsorption of ions at interfaces lying between electrolytes and electrode materials. These capacitors are also known by another name ultracapacitors and they are able to store around 10 to 100 times more power than normal electrolytic capacitors. These capacitors find wide use for the purpose of quick charge and discharge, thanks to its ability to show zero resistance. All these factors are estimated to support development of the global supercapacitor market in the years to come.
Huge development in the storage technology is likely to play an important role in the development of the global supercapacitor market. In addition to that, emergence of market segments like renewable energy systems, smart grids, and hybrid electric vehicles (HEV) are expected to drive the demand for these supercapacitors. The ability of supercapacitors to give power during emergency shutdown or to provide backup to equipment with low power, such as PC cards, micro-controllers, SRAM, and RAM are likely to make them a popular choice.
Solar lighting and Solar PV models are two of the rapidly growing areas of applications for supercapacitors. Furthermore, solar panels find utilization in both offline and online modes and supercapacitors are considered a highly reliable option for such modes of operation. Increasing demand for solar energy is expected to trigger growth of the global supercapacitor market over the timeframe of analysis.
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Rapid development in the infrastructure and industrialization in developing countries of Asia Pacific are likely to generate demand for automotives and various electronic goods. Flourishing business of automotives in India and China are likely to generate huge demand for these supercapacitors. In addition, hybrid buses, railways also play an important role in the expansion of the global supercapacitor market in the forthcoming years.
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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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According to a new market report published by Transparency Market Research titled “Supercapacitors Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018 – 2026,” the global supercapacitors market is expected to reach US$ 5.979.67 Mn by 2026. The market is projected to expand at a CAGR of 15.24% during the forecast period from 2018 to 2026. According to the report, the global supercapacitors market will continue to be influenced by a range of factors such as environment regulations in regions such as North America, Europe, and Asia Pacific. Additionally, longer life cycle as compared to batteries and decreasing price of supercapacitors is projected to boost the global supercapacitors market during the forecast period 2018-2026. Asia Pacific will be at the forefront of growth, with the market in the region growing at above 17% through 2026.
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.
