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Supercapacitors are electrochemical devices used for storing, releasing energy in static charge means and are used for rapid charging and discharging. Supercapacitors are also known as double-layer capacitors or ultra-capacitors. They can hold 100 times more power than a normal capacitor, due to which they are widely used as supplements with batteries for short-term battery backup supply. Supercapacitors are commonly used in advanced technology of energy and automotive applications and provide advanced power density solutions.
Based on the type, the market is segmented into double-layer capacitors, hybrid capacitors, pseudo capacitors, and others. The hybrid capacitors are anticipated to dominate the supercapacitors market in the segments due to their wide usage in automotive and electronics applications. Hybrid capacitors in automotive transportation help eliminate carbon emission; other than that, it results in less fuel consumption. Based on these factors, the hybrid capacitors are expected to grow in the forecast period.
Based on the end-user industry, the market is segmented to automotive, electronics, energy, medical, aerospace, and others. The automotive industry dominates the supercapacitor market in terms of demand and value due to its usage in transportation mediums like long-haul trucks, metros, hybrid buses, and commercial hybrid vehicles because of quick charging and power stability. Supercapacitors play a vital role in advanced technology for automotive, which results in fuel efficiency, long extended expectancy, power stabilization, and improve vehicle performance which has drawn public attention to the conversion of energy efficiency in terms of fuel, safety, and other factors and has increased the demand for supercapacitors.
The major drivers for the global supercapacitor market are the rising infrastructure in renewable energy & power grids such as solar, wind energy, and others. Other than that, the development of technology in the automotive industry for hybrid vehicles, which leads to power stabilization and vehicle performance, has led to the prominent growth of supercapacitors in the long term.
Due to the surging demand for supercapacitors, manufactures are facing material shortages. Other than that, the operational cost for supercapacitors acts as the market restraints.
Key Market Driver -
Increasing investments renewable energy, smart grids, and hybrid vehicles are the major market drivers
Key Market Restraint -
The volatility in raw material prices and its availability hinders the market
Some of the major companies that are present in the global supercapacitors market are Eastern State Components (ES), Ioxus Inc., Cap-XX Limited, AVX Corporation, SPEL Technologies Pvt Ltd, Skeleton Technologies, Nippon Chemi-Con Corporation, Murata Manufacturing Co Ltd, and Maxwell Technologies.
The supercapacitor market has been studied across North America, Europe, Asia Pacific, Latin America, the Middle East & Africa. The Asia- Pacific is anticipated to dominate the supercapacitors market in terms of volume and value in the automotive application and energy applications. The higher demand in automotive and transportation applications like metros, hybrid vehicles, increasing power grid infrastructure of renewable energy applications like solar and wind in countries like India and others. Other than that, the rising electronic sector in regions like China, Japan, India, and others has led to a higher demand for supercapacitors.
Followed by the Asia Pacific, North America is expected to dominate the market, owing to rising adoption for hybrid supercapacitor due to the advancement of technology in transportation applications like hybrid vehicles, electric vehicles, and electronics applications like mobile, laptops, smartwatches, and others.
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