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Global Supercapacitor Market to Witness Strong Growth During 2020-2025, Impelled by Increasing Applications in Renewable Energy Sector

According to the latest report by IMARC Group, titled "Supercapacitor Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025," the global supercapacitor market grew at a CAGR of around 15% during 2014-2019. A supercapacitor refers to a high-capacity electronic device that is used to store large volumes of energy as a means of static charge. Also known as an ultracapacitor, it employs high surface area electrode materials and thin electrolytic dielectrics to achieve higher energy density than conventional capacitors. As a result, it can be utilized to deliver stabilized power at a much faster rate while undergoing a greater number of charge and discharge cycles. It can also be used to withstand more fluctuations within a wide range of operating temperatures. Therefore, it is widely employed in cars, trains, buses and elevators for regenerative braking and storage of energy for short periods of time. Apart from this, it also finds numerous applications in smartphones and electronic devices that need rapid charging for functioning efficiently.

We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

Global Supercapacitor Market Trends:

The market is primarily driven by the increasing utilization of supercapacitors in the renewable energy vertical. They are widely used in the solar energy sector for boosting the power density of the energy storage systems and for optimizing the photovoltaic system to prevent excessive battery storage. They are also utilized in the wind energy sector to manage emergency power requirements, which is contributing to their steadily increasing demand. Apart from this, they find extensive applications in the consumer electronics industry. With the growing demand for electronic gadgets with high battery requirements, there has been a significant increase in the uptake of these capacitors on the global level. These devices are also widely being used in the automotive sector, which is acting as a major growth-inducing factor. They are employed in the production of various automobiles for facilitating a smooth charge/discharge cycle. The advancements in the storage technology, coupled with the increasing adoption of electric and hybrid electric vehicles (HEV), is providing a further thrust to the market growth. Some of the other factors contributing to the market growth include the increasing utilization of supercapacitors in the utility sector and their rising applications in smart grids for providing emergency shutdown power backup to low-power equipment. On account of the aforementioned factors, the market is anticipated to witness strong growth during 2020-2025.

Market Summary:

  • On the basis of the product type, the market has been divided into electric double-layered capacitors, pseudocapacitors and hybrid capacitors.
  • Based on the module type, the market has been classified into less than 25v, 25-100v and more than 100v.
  • On the basis of the material type, the market has been categorized into carbon and metal oxide, conducting polymer, and composite materials.
  • Based on the end use industry, the market has been segmented into automotive and transportation, consumer electronics, power and energy, healthcare, and others.
  • On the geographical front, the market has been segregated into North America (the United States and Canada), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Latin America (Brazil, Mexico and others), and Middle East and Africa.
  • The competitive landscape of the market has been studied in the report with the detailed profiles of the key players. Some of these players include AVX Corporation, Cap-XX Limited (Kyocera), Eaton Corporation plc, TAIYO YUDEN CO., LTD, Ioxus, Inc. (X S Power Batteries), KEMET Corporation (Yageo Corporation), LS Mtron Ltd., Nippon Chemi-Con Corporation, Panasonic Corporation, Seiko Instruments Inc., Skeleton Technologies GmbH, and Tesla, Inc.

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