The supercapacitors market is estimated to grow with a moderate CAGR during the forecast period, i.e., 2021-2029. The increasing demand in energy storage system applications, including solar PV panels and solar lightings, and the rising use of supercapacitors in aircraft and trains are expected to drive the supercapacitors market growth during the forecast period. These supercapacitors are majorly used in the energy and automobile segment. The rising demand for sustainable development and minimizing emissions in energy storage is also driving the market growth. Furthermore, the increasing demand for electric vehicles is likely to fuel the growth of the market in the forecast period. According to the International Energy Agency, in 2020, electric cars' global sales reached up to 4.9 million, compared to 1.93 million in the year 2017.
Based on type, the hybrid supercapacitors segment is anticipated to capture the major market share among the other types owing to its significant uses in wearable devices, mobile phones, laptops, barcode scanners, LED flashlights, thermal printers, and GPS chips.
The market is segmented on industrial, medical, automotive, energy, consumer electronics, aerospace, and defense. The automobile segment is expected to capture the major market share in the forecast period owing to key applications, including dynamic brake energy storage and power recuperation. CLICK TO DOWNLOAD SAMPLE REPORT
Geographically, the market is segmented into North America, Latin America, Europe, Asia Pacific, and the Middle East & Africa region. The Asia Pacific market is predicted to grow at the highest CAGR over the forecast period owing to the rapid infrastructure and industrialization development are driving the growth of automotive and consumer electronics industries in Japan, China and India, thereby leading to an increased demand for supercapacitors. The market in North America is the second largest market in terms of revenue and is also estimated to grow with a significant growth rate over the forecast period owing to demand for supercapacitors in mid-sized and large automotive industries. In the year 2018, the total number of vehicles manufactured is more than 95 million. India, China, and Japan alone constituted 42,713,279, which constituted 44.66% of global production.
The global supercapacitors market is further classified on the basis of region as follows:
Our in-depth analysis of the global supercapacitors market includes the following segments:
FREQUENTLY ASKED QUESTIONS
The growing awareness in sustainable development and emission free energy storage, and rising demand of electric vehicles are driving the market.
The market is anticipated to attain a significant CAGR over the forecast period, i.e., 2021-2029.
High manufacturing cost and lack of awareness are the major challenges affecting the market growth.
The market in Asia Pacific region will provide ample growth opportunities owing to therapid growth of automobile and consumer industries in India and China.
The major players dominating the Supercapacitors market areNippon Chemi-Con Corporation, Skeleton Technologies, Ioxus Inc., LS Mtron Ltd., AVX Corporation, Panasonic Corporation, Cap-XX Limited, SPEL Technologies Private Limited, Evans Capacitor Company, and KORCHIP Corporation, among others.
The company profiles are selected on the basis of revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
The market is segmented by type, applications andregion.
With respect to applications, the automobilesegment is anticipated to hold the largest market share owing to increased demands of electric vehicles and major applications of supercapacitors in automobile.
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