The supercapacitor market is expected to reach USD 2.18 Billion by 2022, at a CAGR of 20.7% during the forecast period. The growth of supercapacitor market is attributed to its high storage capacity compared to conventional capacitor and batteries; and growing need of energy conservation and high performance supercapacitors of consumer and automotive applications.
According to the new report "Supercapacitor Market by Type (Double Layer, Pseudocapacitor, and Hybrid), Application (Laptop, Camera, Power Backup, Memory, UPS, Aircraft, Solid-State Disc Drives) Vertical, and Geography - Global Forecast to 2022", the supercapacitor market is estimated to be valued at USD 568.2 million in 2015 and is expected to reach USD 2,181.2 Million by 2022 at a CAGR of 20.7 % between 2016 and 2022. Factors such as high storage capabilities, need of power conservation, high performance supercapacitors for consumer and automotive applications, and additional capabilities such as moisture resistant, light weight and low equivalent series resistance are the key drivers for supercapacitor market.
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Double layer capacitor held the largest market share in 2015 and is expected to exhibit high growth during the forecast period
Double layer capacitor is the major contributor of this market.
The market for double layer capacitors is increasing rapidly. Its applications vary from portable electronics and medical devices to hefty hybrid and other transportation uses.
Moreover, supercapacitor can also be used in other application such as memory, power backup, led signs, and renewable energy.
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Automotive vertical expected to grow at the highest rate during the forecast period
Supercapacitors have extensive range of uses in automotive. The significance of supercapacitor is increasing owing to the growing implementation of automobiles that uses electrical systems to become more energy efficient.
Battery uses more energy by losing kinetic energy while accelerating and decelerating the vehicle Thus, supercapacitors helps reduce energy usage for power break application in automotive industry use of traditional batteries in the automotive sector. The supercapacitors are used widely in the automotive for headlights, the climate control, and audio system.
APAC held the largest share of the supercapacitor market
The major tech companies such as Panasonic Corporation (Japan), Murata Manufacturing Co., Ltd. (Japan), and Nesscap Co., Ltd. (China), among others have been responsible for the dynamic growth of the supercapacitor market in APAC.
China held the largest market share in APAC, in 2015. Additionally, its application in the consumer electronics and automotive vertical has fueled the market growth.
The market in APAC is expected to grow at the highest rate during the forecast period. The increasing number of businesses in APAC has increased the demand for supercapacitor.
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Major players operating in the supercapacitor market include Cap-XX Limited (Australia), Panasonic Corporation (Japan), Nesscap Energy Inc. (Canada), Murata Manufacturing Co., Ltd.
(Japan), Maxwell Technologies, Inc. (U.S.), Axion Power International, Inc.
(U.S.), AVX Corporation (U.S.), Graphene Laboratories, Inc. (U.S.), Nippon Chemi-Con Corporation (Japan), Mouser Electronics, Inc.
(U.S.), and Evans Capacitor Company (U.S.).
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