Supercapacitor Market Expected to Reach USD 5,979.67 Million by 2026

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.

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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.

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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.

Global Supercapacitor Market – The Augmenting Demand For Alternative Power Supply In A Number Of End Users, Such As The Automotive And The Industrial Sectors

The global supercapacitors market demonstrates a high level of fragmentation, finds Transparency Market Research (TMR) in a new research report. A few of the leading players, such as Ioxus, Maxwell, Nesscap, Panasonic, Nippon, and LS Mtron, have more than 10% share in the overall market, while others possess rather small shares. With the rising number of players entering the market to match the demand for supercapacitors, some of the dominant companies, such as Maxwell, are witnessing a decline in their market share, which, as a result, is anticipated to intensify the competition among the players in the years to come, states the research report.

According to the research report, the global market for supercapacitors stood at US$2.18 bn in 2017. The opportunity in this market is expected to rise at a CAGR of 22.40% over the period from 2017 to 2023 and reach US$7.35 bn by the end of the forecast period. In terms of the type of the product, the demand for double layer supercapacitors has been higher than other products. However, hybrid capacitors are likely to report a significant increase in their demand over the next few years, states the market study.

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Demand for Alternative Power Supply to Fuel Demand for Supercapacitors

The market for supercapacitor is registering an outstanding rise across the world. “The augmenting demand for alternative power supply in a number of end users, such as the automotive and the industrial sectors, owing to the depleting resources of conventional fuels, is boosting the need for supercapacitors, substantially. In the automotive industry, supercapacitors is extensively utilized into regenerative braking, door-lock systems, and auto start-stop.

Apart from this, the rising awareness among customers regarding the advantages of supercapacitors, such as lower replacement cost and longer lifecycle, is leading to an increased uptake of supercapacitors over batteries, which, in turn, will reflect positively on the growth of the global supercapacitor market over the next few years. However, the high initial price of supercapacitors may limit their usage, especially in low-value applications, in the years to come, states the research report.

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