Global supercapacitor market predicted to reach $6.3bn by 2022
According to a new report published by Allied Market Research, entitled Supercapacitor Market by Module Type, Application, and Geography: Global Opportunity Analysis and Industry Forecast, 2014–2022, the global supercapacitor market is anticipated to account for $6.3bn by 2022, growing at a CAGR of 28.7% from 2016 to 2022.
Electronic segments dominated the market for supercapacitors in 2015. Asia-Pacific led the global market, accounting for a market share of over 35% in the same year.
Supercapacitor is a high-capacity electromechanical capacitor that stores 10-100 times the power stored in normal electrolytic capacitors, and show zero resistance so it can rapidly charge and discharge. In electronic component taxonomy, supercapacitors are positioned between capacitors and batteries. Rise in industrialisation is anticipated to increase the demand for supercapacitors in cranes, valves forklifts and others. Furthermore, stringent government regulatory guidelines for pollution control is projected to fuel the growth of the market.
According to Komal Sharma, Analyst, Automotive, Allied Market Research: “Low awareness about usage of supercapacitor and high cost are expected to hinder the growth of the market. Various R&D programs to reduce cost of supercapacitors and emergence of new untapped applications are estimated to boost the growth of the market.”
Moreover, to gain competitive leverage over others, the key market participants adopt various strategies. Companies enter into various agreements and partnerships such as supply and sales agreements and plant manufacture partnerships to serve their customers in a better manner and increase their market outreach.
Based on modules, the supercapacitors market is segmented into less than 10V module, 10-25V module, 25-50V module, 50-100V module, and above 100V module. Among all products based on module, 10-25V module supercapacitors generated the highest revenue in 2015. However, the above 100V module supercapacitors segment is expected to witness fastest growth over the forecast period.
Automotive can be subsegmented into cars, buses, train and autos. Industrial is divided into cranes, valves, mining, and smart grids. Nonvolatile RAM and UPS are subsegments of electronics. In 2015, the electronics segment held the largest market share, and is expected to maintain this trend during the forecast period.
Geographically, the market is analysed across North America, Europe, Asia-Pacific, and LAMEA. In 2015, Asia-Pacific generated the highest revenue, and is expected to maintain its dominance. North America is the second leading region in the supercapacitor market.
Key findings of the study:
- The 10-25V modules segment accounted for the largest share, in terms of revenue, and is expected to dominate the market in the forecast period, growing at a CAGR of 29%.
- Above 100V modules segment is projected to show highest growth rate, in terms of CAGR.
- In 2015, electronics application segment accounted for the major share in the supercapacitor market.
- Asia-Pacific generated the maximum revenue in 2015, followed by North America and Europe.
- North America is anticipated to show highest growth in the forecast period.
The major players profiled in this report are Maxwell Technologies (US), Nippon Chemi-Con (Japan), Panasonic Corporation (Japan), Ioxus Inc. (US), LS Mtron (South Korea), Nesscap (Canada), NEC TOKIN (Japan), Elna (Japan), Seiko Instruments (Japan), and KORCHIP Corporation (South Korea).