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Supercapacitor Market Worth $2.18B by 2022
November 28, 2016 | PRNewswireEstimated reading time: 2 minutes
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", published by MarketsandMarkets, the 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.
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.
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.
About MarketsandMarkets
MarketsandMarkets is the largest market research firm worldwide in terms of annually published premium market research reports. Serving 1700 global fortune enterprises with more than 1200 premium studies in a year, M&M is catering to a multitude of clients across 8 different industrial verticals. We specialize in consulting assignments and business research across high growth markets, cutting edge technologies and newer applications. Our 850 fulltime analyst and SMEs at MarketsandMarkets are tracking global high growth markets following the "Growth Engagement Model - GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors.
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