Rapid Growth of Supercapacitor Market Driven by Electric Vehicle Demand
United States/WA: Market Will Boom In Near Future
Report Pages:[130 Pages]
Major Key Companies Involving in Supercapacitor Market:
Cap-XX Limited, Panasonic Corporation, Nesscap Energy Inc., Murata Manufacturing Co., Ltd., Maxwell Technologies, Inc., Skeleton Technologies, Axion Power International, Inc., Graphene Laboratories, Inc., Nippon Chemi-Con Corporation, Mouser Electronics, Inc., AVX Corporation, Evans Capacitor Company, and SPEL Technologies Private Limited
Market Overview
A supercapacitor refers to a high-performance capacitor having a higher capacitance than other high-performance capacitors, yet with lower electrical resistance, which bridges the gap between rechargeable batteries and electrolytic capacitors. Supercaps reduce the current drawn by the battery and increase the battery’s voltage. A supercapacitor can only store the charge for a limited amount of time before discharging itself, which means that it is not a fully functional device. Most modern supercapacitors are designed with a life cycle of thousands of charging cycles. Capacitors can be custom-built for any application, from a small notebook computer to a golf cart power system. The supercapacitor is made up of two or more thin sheets of metal, which are connected by positively and negatively arranged pairs of plates in a thick layer of dielectric grease or epoxy. A supercapacitor is constructed of two or more ordinary capacitor plates that are connected in series to give a charge to a battery, or possibly to a series of batteries, and/or to a charger. A thin film of activated charcoal plates is placed between the plates.
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Supercapacitor Market, By Type (Double-Layer Capacitor, Pseudocapacitors, and Hybrid Capacitor), By Materials (Electrolyte, Electrodes, and Separators), and By End-use Industry (Consumer Electronics, Industrial, Automotive, Energy, Medical, and Aerospace and Defense)
Market Dynamics- Driver & Restraint
Rising demand for electric vehicles is expected to drive growth of the global supercapacitor market during the forecast period. According to the International Energy Agency (IEA), in 2019, electric car sales reached 2.1 million globally, registering a growth rate of 2.6%. According to the Edison Electric Institute (EEI), as of March 2019, there were around 1.18 million electric vehicles on U.S. roads, with EV sales increasing by 81% in 2018 as compared to 2017. Supercapacitors play an important role in electric vehicles as they can be recharged quickly and release a large amount of power.
However, the limitation of supercapacitors to be used as long-term energy storage solutions and higher costs associated with the products are expected to hamper the global supercapacitors market growth over the forecast period.
Key Takeaways
- The global supercapacitor market is expected to witness significant growth, registering a CAGR of XX% during the forecast period. This is owing to increasing use of supercapacitors in smart wearables.
- Among regions, Asia Pacific is expected to witness significant growth in the global supercapacitor market during the forecast period. This is owing to the presence of major market players including Panasonic Corporation, Murata Manufacturing, and Nesscap Co. Ltd. across the region.
- North America is expected to register a robust growth rate, owing to rising demand for supercapacitors in the automotive industries.
- Major companies involved in the global supercapacitor market are Nesscap Energy Inc., Panasonic Corporation, AVX Corporation, Skeleton Technologies, Evans Capacitor Company, Nippon Chemi-Con Corporation, Graphene Laboratories, Inc., and Cap-XX Limited.
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Impact of COVID-19 Analysis
Several industries have witnessed a negative impact of the COVID-19 pandemic. One of the key effects of the novel coronavirus pandemic was a delay in orders of supercapacitors by original equipment manufacturers (OEM) from the automotive and consumer electronics industries. This delay is expected to create a temporary slag in the market growth.
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In the end, Our business offerings show the latest and the most reliable information crucial for businesses to strengthen a competitive edge. The report then emphasizes on market driving factors, opportunities regulating the market growth, as well as emerging opportunities, potential technical advancements of the Supercapacitor Market.
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