According to a new market research report published by Credence Research “Super-capacitors and Ultra-capacitors Market (By Product (Double Layer, Pseudo, Hybrid), By Application (Consumer Electronics, Utilities, Healthcare, Aerospace and Defense, Automotive/Transportation)) – Growth, Future Prospects and Competitive Analysis, 2019 – 2027”, the overall super-capacitors and ultra-capacitors market worldwide shall grow with a CAGR of 28.23% during the forecast period.
Rapid growth in electronics industry and popularity of hybrid vehicles has been driving the growth of capacitors market. In 2017, global consumer electronics market was valued at US$ 150 Bn and is growing at an annual growth rate of 6.0% during the forecast period. Capacitor is an electronic component that stores electric charge through a two-way terminal. Capacitors can be in the form of super-capacitor or ultra-capacitor. A super-capacitor offers storage for large amount of energy while an ultra-capacitor stores more power and energy than a battery or any other capacitor. Increasing focus on superior power supply and efficient technology shall drive the demand for super-capacitor and ultra-capacitor market.
Based on application, automotive/transportation segment will led the market in 2018. The segment accounted for the largest share for super-capacitors and ultra-capacitors market in 2018. Further the automotive/transportation segment is expected to grow significantly. On account of increase in demand for hybrid vehicles, focus on energy harvesting, and demand for automotive super-capacitor and ultra-capacitor market shall continue to grow. Capacitors in automotive have been used for well over a decade but the technology has developed rapidly in the recent years. The rise in demand has been backed by electrification of infrastructure and increased concern around fuel efficiency. This would further drive the super-capacitor and ultra-capacitor market throughout the forecast period.
Based on the geography, North America governs the super-capacitor and ultra-capacitor market worldwide. However, Asia Pacific shall take over super-capacitor and ultra-capacitor market during the forecast period. Backed by growth in disposable income, changing infrastructure in the region, super-capacitor and ultra-capacitor market shall flourish. Notably, China has been the largest country in terms of value and shall grow significantly. There has been an increase in purchasing power and changes in lifestyle of people in the region which shall drive the growth of super-capacitor and ultra-capacitor market. On account of regular electronic production and high consumption Asia-Pacific shall continue to dominate the market. These factors would in turn give a steady growth to global super-capacitor and ultra-capacitor market.
Some of the major companies profiled in the report include AVX Corporation, ELNA Co. Ltd., KEMET Electronics, Maxwell Technologies Inc., Murata Manufacturing Co. Ltd., NEC TOKIN, Panasonic Corporation, Nippon Chemi-Con Corporation, Eaton Corporation plc, Ioxus, Inc., Skeleton Technologies OÜ, Cellergy Ltd., Beijing HCC Energy Tech. Co. Ltd, Axion Power International Inc., Bombardier, Inc., Graphene Laboratories Inc., CAP XX Ltd., VINA Tech Co. Ltd, Supreme Power Solutions Co. Ltd, LS Mtron and others.
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