The global Supercapacitor market size accounted for USD 1625.67 Million in 2020 and is expected to reach USD 3507.6 Million by 2028, growing at a CAGR of 9.5% from 2021 to 2028.
The growth of the supercapacitor market is attaining speed due to elevated requirements for capacitors in several industries like automotive, consumer electronics, industrial, and energy sectors. Increasing carbon emission and the rising cost of fuel are pushing the expansion of the supercapacitor market. Moreover, a revolution to scale back the usage of fossil fuels and save energy bolsters the expansion of the supercapacitor market.
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Also, the increasing requirement of supercapacitors for electronic products to the stabilized power supply in computers, laptops, hand-held devices, GPS, and portable media players are a number of the explanations fostering the event of worldwide supercapacitor market. On the opposite hand, factors like intense competition with the renowned vendors for top capacity batteries and the high cost of fabric are hampering the event of the supercapacitor market.
COVID-19 Impact Analysis:
Undoubtedly, the COVID-19 pandemic has harmed the market size for the years 2020 and 2021, with small and medium-scale companies struggling to sustain their businesses in the near-term future. A significant number of manufacturers of hybrid capacitors are facing a lack of raw materials, as well as financial support to manufacture hybrid capacitors owing to the outbreak of COVID-19. This has further resulted in the closing down of producing facilities owing to lockdowns that have disrupted the supply chains, and further challenges in the availability of labor have impacted the expansion of the global Supercapacitor market.
The development of the market is driven by their increasing demand in energy harvesting applications and the increasing use of supercapacitors in aircraft and trains. Also, the increasing global demand for electric vehicles is likely to boost the growth of the market. Additionally, advanced functions offered by supercapacitors such as the ability to offer backup power to low-power gadgets such as SRAM, RAM, PC Cards, and micro-controllers during power shutdown are elevating the growth of the supercapacitor market. In addition, new product launch by market players is one more reason behind the development of supercapacitor market. For instance, in June 2017, Panasonic Corporation launched its newly developed Energy Polymer Capacitor that reached energy densities.
This research report categorizes the Expanded Polystyrene market based on product type, Application, and region.
On the basis of product type:
● Supercapacitor Module
● Supercapacitor Cell
● Board Mounted Supercapacitor
On the basis of Application:
● Automotive and Transportation
● Consumer Electronics
The key players in the supercapacitor market include
● AVX Corporation
● Cap-XX Limited
● Panasonic Corporation
● Murata Manufacturing Co Ltd
● Nesscap Energy Inc
● Maxwell TechnologiesInc
● Nippon Chemi-Con Corporation
● Mouser Electronics Inc
● and Evans Capacitor Company
● Skeleton Technologies and Elna Co Ltd
Region Analysis Preview
Asia Pacific is the highest developing area for supercapacitor market due to robust growth in the industrial & automotive segments. One more factor that is fostering the growth of supercapacitor market is the attendance of leading companies in Asia Pacific area. North America is also likely to record possible development growth in supercapacitor market owing to rising application of supercapacitor in user electronic industry.
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