According to a new market research report published by Credence Research “Global Supercapacitors Market (Product Type (Hybrid Capacitors, Double Layer Capacitors, Pseudo Capacitors, Others) End-User (Consumer Electronics, Utilities, Healthcare, Aerospace and Defense, Automotive/Transportation, Other End Users)) – Growth, Future Prospects and Competitive Analysis,2019 – 2027”, the overall supercapacitors market worldwide was valued at US$ 420.2 Mn in 2018 and is projected to grow with a CAGR of 17.1 % during the forecast period.
The global supercapacitors market is highly driven by environmental regulations in regions such as Europe, Asia Pacific, and North America. Secondly, the decreasing prices of supercapacitors are also a major factor that drives market growth. Moreover, the supercapacitors have a longer life cycle as compared to batteries which also act as a contributor to the market growth. Continued advancement in the electronics sector is expected to ensure robust growth for supercapacitors market over the forecast period.
The rising requirement for high-performance and energy conservation supercapacitors for various sectors such as automotive and consumer, increasing demand for additional capabilities and high implementation of supercapacitors solutions across various sectors is also contributing to the growth of the market. However, the requirement of high cost for initial technological development & technical integration, and competition with the high capacity battery vendors hampers the growth of the market.
Based on end-user, the supercapacitors market has been segmented as consumer electronics, utilities, healthcare, aerospace and defense, automotive/transportation, others. The consumer electronics holds the largest market share of more than 30% in the end-user segment due to continually increasing consumption of various devices such as laptop computers, GPS devices and portable media players among others. On the other hand, the utilities are expected to be the fastest-growing segment in the upcoming years.
Asia-Pacific is expected to be the fastest-growing region due to increasing demand for consumer electronics, automotive and other industries, which requires supercapacitors. Moreover, China is the largest country in terms of electric vehicle production which further aids the market growth. Additionally, the demand for products and devices such as mobile, laptops, tablets and also contributes to market growth.
Some of the prominent players operating in the supercapacitors market include Maxwell Technologies Inc. (Tesla Inc.), Panasonic Corporation, Nippon Chemi-Con Corp., LS Mtron Ltd, CAP-XX Limited, Murata Manufacturing Co. Ltd, Supreme Power Solutions, IOXUS Inc., JSR Micro NV, Shanghai Aowei Technology Development Co. Ltd., Taiyo Yuden Co. Ltd., TOKIN Corporation, Skeleton Technologies, AVX Corporation, Spel Technologies Private Limited, and Evans Capacitor Company.
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