On the other hand, hybrid capacitors market is anticipated to grow at highest pace during the forecast period.
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The global super capacitor market is segmented into types such as electric double layer capacitors, hybrid capacitors and pseudo capacitors. Among these segments, double layer capacitor segment is expected to dominate the overall super capacitor market during the forecast period.
Wide scale application of double layer capacitor in portable electronics, medical appliances and hybrid transport vehicles is increasing the market size of super capacitor globally.
Global super capacitor market is expected to register a CAGR of 14.6% over the forecast period.
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Moreover, the global super capacitor market was valued at USD 2.2 Billion in 2015. Increasing demand for efficient energy storage technology is expected to drive the growth of super capacitor market.
Moreover, rising application of super capacitor in smart grids, hybrid & electric vehicles and renewable energy harvesting system are anticipated to facilitate the expansion of super capacitor market.
North America accounted for the highest percentage of market share, with 39.0% in overall super capacitor market. Factors such as increasing awareness regarding energy saving and renewable energy storage is fuelling the growth of super capacitor market in North America.
Moreover, increasing expenditure on research & development activities is expected to strengthen the market of super capacitor in the next few years.
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Favourable Government Initiatives and Support
Increasing government support to develop efficient energy harvesting system is expected to accelerate the growth of super capacitor market during the forecast period. Further, significant funding by government of developed regions such as North America is driving the research & development activities by various manufacturers.
This factor is expected to accelerate the growth of super capacitor market.
Rising Demand for Efficient Power Supply
Increasing demand for high-performance energy systems is driving the growth of super capacitor market. Moreover, surging demand for high output auxiliary power supply in automobiles and other electronics is anticipated to impel the growth of super capacitor market globally.
Although, high cost of development for super capacitors and availability of substitutes such as lithium-ion and lithium polymer batteries are some of the major factors that are likely to hamper the growth of the super capacitor market in the near future.
The report titled “Global Super capacitor Market Analysis & Opportunity Outlook 2021” delivers detailed overview of the global super capacitor market in terms of market segmentation by materials, by application, by type, by application, by product and by region.
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Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
This report also provides the existing competitive scenario of some of the key players of the global super capacitor market which includes company profiling of AVX Corporation, Maxwell Technologies, Inc., Panasonic Corporation, Skeleton Technologies, CAP-XX Ltd, Elna Co., Ltd, Graphene Laboratories INC, Axion Power International, Inc., Elton and Nescap Co., Ltd. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments.
On the whole, the report depicts detailed overview of the global super capacitor market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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