Super capacitors are rechargeable energy storage devices that have the advantages of quick charging and retaining their storage capacity for multiple recharging cycles. In comparison with the traditional batteries, these devices can deliver charge quickly for high power-density.
As a result, super capacitors are used in a variety of applications, including wireless telecommunications, high-powered lasers, and electric vehicles’ regenerative braking systems. Extensive uptake of these capacitors in various industries such as energy, consumer electronics, industrial, and automotive is driving the global super capacitors market.
According to an eminent research firm, Market Research Future (MRFR), the global super capacitors market is poised to evaluate at USD 2.6 BN by 2023, registering a whopping CAGR of 21% throughout the assessment period (2017–2023). Increasing applications of super capacitors in portable electronic medical devices is a major driving force behind the market growth.
Additional factors bolstering the growth in the market include the increasing need for energy conservation and the demand for high-performance supercapacitors in the automotive sector. Increasing demand for additional capabilities and high implementation of supercapacitors solutions across various sectors impacts the market growth, positively.
Evolving storage technologies alongside, the introductions of various capacitors substantiate the growth of the market, excellently. Furthermore, the increasing demand for stabilized power supply in applications such as laptop computers, GPS, and portable media players provide a massive impetus to the growth of the market.
On the other hand, the high investments required for technological innovations and integrations is a significant challenge the market is confronting currently. Also, the fierce competition across high capacity battery vendors is hindering the growth of the market. Nevertheless, the evolution of supercapacitors solutions and increasing demand for advanced battery life would support the growth of the market throughout the assessment period.
For a better understanding, the report has been segmented into four key dynamics:
By Type: Hybrid, Double Layer, and Pseudo Capacitors, among others.
By Application: Audio Systems, Cameras, Laptops, Flash Cameras, Smoke Detectors, Power Backup Systems, Memory Devices, Buses, Aircraft, and Electric Vehicles, among others.
By End-users: Energy, Consumer Electronics, Industrial, Automotive, Healthcare, and Defense, among others.
By Regions: Asia Pacific, North America, Europe, and the Rest-of-the-World.
The Asia Pacific Supercapacitor Market Size accounts for the largest share, globally. The presence of a large number of capacitor manufacturers and the increasing growth in the consumer electronics & automotive industries substantiate the increase in the regional market.
China, Japan, and India are predominantly driving the growth in the regional market due to the presence of a large number of electronic devices manufacturing companies in these countries. Availability of potent technologies at a much affordable cost is a trend likely to continue in the upcoming years as well, which is further expected to help the regional market to generate a substantial revenue pocket through 2017-2023.
The North American super capacitors market demonstrates a huge potential for revenue generation, particularly from the automotive and consumer electronics industry verticals. The region is a hub for the technological development and adoption of innovative technologies. The presence of a well-established infrastructure supports market progress, allowing implementations of advanced technologies.
Furthermore, the growing demand for increasing R&D activities and strict regulation pertaining to environment-friendly technologies are driving the regional market. Due to the presence of major electronics manufacturers and rising demand for digital technologies, the US and Canada are countries that account for major contributors to the growth of the regional market.
The super capacitors market in the European region is emerging as a profitable market globally. Burgeoning electronics industries, especially in the UK and Germany, are contributing to the market growth in the region majorly. The market in this region would grow at a considerable CAGR throughout the review period, perceiving a colossal uptake of Super Capacitors across the region.
Players leading the super capacitors market include Maxwell Technologies, Inc. (US), Panasonic Corporation (Japan), Murata Manufacturing Co., Ltd. (Japan), Nesscap Energy Inc. (Canada), CAP-XX Limited (Australia), AVX Corp (US), Axion Power International, Inc. (US), DuPont (US), Haydale (UK), Toyota Motor Sales, Inc. (US), and Komatsu Ltd. (Japan) among others.
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