Global Market for Supercapacitors Set to Reach $2.18 Billion by 2024 - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Nov 6, 2019--
The “Supercapacitors Market - Growth, Trends, and Forecast (2019 - 2024)” report has been added to ResearchAndMarkets.com’s offering.
The global supercapacitors market was valued at USD 685 million in 2018, and it is expected to reach USD 2,187 million by 2024, registering a CAGR of 21.8%, during the period of 2019-2024.
With the ability of quick charging and temperature stability, supercapacitors are replacing traditional electric car batteries. Additionally, supercapacitors are flexible than normal batteries, and high demand for stable power supply for applications, such as GPS, portable media players, laptops, mobile devices, etc., is an emerging trend in the market.
Increasing demand for renewable energy solutions is driving the market. The supercapacitor is an emerging technology for various energy storage systems, as it can offer higher power density than batteries and higher energy density over traditional capacitors.
Solar PV panels and solar lighting are potential areas where supercapacitors are growing. In general, solar panels are used in both modes, online as well as offline, for which supercapacitors are reliable options. With a conservative forecast of 40% penetration of supercapacitors by 2020, the demand in this sector is estimated to touch around 416,000 units.
Increasing production of supercapacitor-based vehicles owing to environmental concerns is driving the market. Climate change and greenhouse gases have proven to be global menaces, which affect crop cycles, weather systems, and entire ecosystems. With environment-friendliness being a priority, there is heightened awareness among the users of energy storage equipment about minimizing emissions.
Major technology companies are pacing up their efforts to reduce greenhouse gas emissions, indicating market growth for alternative energy technologies. Among all energy storage devices, supercapacitors cause the least environmental damage. All materials used in an electrochemical double-layer capacitor are made of some form of readily biodegradable carbon.
Higher costs associated with the products is restraining the market to grow. The comparison between a supercapacitor and a traditional battery begins with the price. Although the two technologies are not entirely comparable, end-users expect the price of a supercapacitor to be at par with that of a lead-acid battery to consider it as an economically viable technology.
High power density results in a niche application base for the technology. Supercapacitors have, therefore, failed to achieve the kind of economies of scale, necessary for a drastic reduction in price.
Key Market Trends
Utilities to Hold a Significant Share
Asia-Pacific Expected to be the Fastest Growing Region
The supercapacitors market is competitive and consists of several major players. In terms of market share, few of the major players currently dominate the market. These major players with a prominent share in the market are focusing on expanding their customer base across foreign countries. These companies are leveraging on strategic collaborative initiatives to increase their market share and profitability. The companies operating in the market are also acquiring start-ups working on supercapacitor technologies to strengthen their product capabilities. Key players are Eaton Corporation PLC, Maxwell Technologies, Inc., etc.
Recent developments in the market are:
Key Topics Covered
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Introduction to Market Drivers and Restraints
4.3 Market Drivers
4.3.1 Growing Demand for Eco-friendly Technologies
4.3.2 Need to Find Alternative Energy Storage Solutions
4.3.3 Rapid R&D in Supercapacitor Technology
4.4 Market Restraints
4.4.1 High Cost and Technical Issues of Super Capacitor
4.5 Industry Attractiveness Porter’s Five Forces Analysis
4.6 Value Chain / Supply Chain Analysis
5 TECHNOLOGY SNAPSHOT
6 MARKET SEGMENTATION
6.1 By Type
6.1.1 Double Layer Capacitor
6.1.2 Pseudo Capacitor
6.1.3 Hybrid Capacitor
6.2 By End-user
6.2.1 Consumer Electronics
6.2.4 Aerospace and Defense
6.2.6 Other End-users
6.3.1 North America
188.8.131.52 United States
184.108.40.206 United Kingdom
220.127.116.11 Rest of Europe
18.104.22.168 Rest of Asia-Pacific
6.3.4 Rest of the World
7 COMPETITIVE LANDSCAPE
7.1 Company Profiles
7.1.1 Maxwell Technologies Inc. (Tesla Inc.)
7.1.2 Panasonic Corporation
7.1.3 Nippon Chemi-Con Corp.
7.1.4 LS Mtron Ltd.
7.1.5 CAP-XX Limited
7.1.6 Murata Manufacturing Co. Ltd.
7.1.7 Supreme Power Solutions
7.1.8 IOXUS Inc.
7.1.9 JSR Micro N.V.
7.1.10 Shanghai Aowei Technology Development Co. Ltd.
7.1.11 Taiyo Yuden Co. Ltd.
7.1.12 TOKIN Corporation
7.1.13 Skeleton Technologies
7.1.14 AVX Corporation
7.1.15 Spel Technologies Private Limited
7.1.16 Evans Capacitor Company
8 INVESTMENT ANALYSIS
9 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/3jo2xq
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INDUSTRY KEYWORD: TECHNOLOGY SEMICONDUCTOR
SOURCE: Research and Markets
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PUB: 11/06/2019 03:40 PM/DISC: 11/06/2019 03:40 PM