Global Supercapacitor Market Size to Reach US$ 8,000 Million by the end of 2025

(MENAFN- GetNews) The "Global Supercapacitor Market" report has been added to reportocean.com offering.

Market supercapacitor market was valued at US$ 2,021.4 Mn and will cross more than US$ 8,000 Mn by the end of 2025. The growth is registered at a CAGR of 23.8% during the forecast period 2021 to 2025. As per the volume, 273 million units were sold in the year 2020. CAGR of volume was observed to be 18%. Applications of supercapacitors in automotive sector is projected to drive the market towards growth trajectories.

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Increasing application in renewable energy

According to the World Bank data, about 250 million people lack access to grid electricity. It is required to produce electric power from renewable sources to meet the rising demand. Supercapacitors are used for wind power systems to deal with high current fluctuations. These devices are suitable to be applied in renewable energy applications due to their high current charge and discharge properties. The long-life cycle of supercapacitors makes them ideal for use in wind power. During strong wind periods, the energy can be stored in the supercapacitor and when the speed of the wind fluctuates, supercapacitor will discharge to smooth out the system's output power to increase the efficiency of grid system. The solar power industry uses the batteries for power storage. The high power often leads to stress over the battery which can be reduced by using a hybrid system of supercapacitors and batteries known as hybrid energy storage system (HESS). This system will reduce the operating and maintenance cost by decreasing the size and rate of discharge of the battery. In solar PV system, supercapacitors reduce battery size by providing energy during the peak hours which eradicate the need of designing a large battery to meet peak load requirements.

Advancements in storage technology

Supercapacitors play a key role in the future of energy storage in both photovoltaic (solar) and wave-powered applications as both the technologies experience fluctuations in terms of output power and supercapacitors have the tendency to mitigate the effects. Supercapacitors delivers constant level of power through a process referred to as smoothing. Both solar- and wave-powered applications produce alternating current (ac) voltage, which must be converted to direct current (dc) which requires the use of a capacitor. Thus, both help to drive the market forward somewhat in the recent scenarios and to another level in futuristic approach. The use of supercapacitors supports greater longevity of components in energy storage applications which makes them more viable as clean-energy resources. In November 2020, the Italian company KiteNRG developed an AWE system with up to 500 kW of capacity and according to analysis the energy harvesting design requires supercapacitors to handle power surges. Apart from capturing more energy surges than conventional batteries, supercapacitors also waste less electricity.

Supercapacitors are good source for portable energy storage. China is using supercapacitors in some hybrid buses since 2006. The idea behind this is when bus brakes to stop and take on passenger's energy generated by the brakes is passed to super-capacitors where it is stored and later help acceleration as the vehicle moves off. Supercapacitors makes the bus to require fewer or no lithium-Ion batteries making it lighter and able to travel further on one charge. Moreover, the vehicles can go 40% further than standard electric buses. Moreover, the manufacturing expenses has been reduced about 40% as well. Supercapacitors are likely to replace the battery in portable power world and provide improved services in some areas. Their use in mobiles and laptops is unlikely for now because supercapacitors do not hold a steady voltage or capacity as they discharge, and these devices need to function over long periods

Key players operating in the global supercapacitor market ADA TECHNOLOGIES, INC, CD Aero, LLC, Cornell Dubilier, Eaton Corporation plc, F.W. Webb Company, Jinzhou Kaimei Power Co., Ltd., Murata Manufacturing Co., Ltd., Skeleton Technologies, Systematic Power Manufacturing, LLC, Targray Technology International Inc., Tesla, Inc. and Vinatech.  Manufacturers of superconductor strategizes to enhance the reliable product offerings keeping in mind the affordability and availability of products to maintain existing customer trust and build new customer relations.

Segmentation:

• By Type
• Coin Cell Supercapacitors
• Winding Supercapacitors
• Combined Supercapacitors
• Module Supercapacitors
• High Temperature super Capacitors
• Hybrid Supercapacitors

• By Electrode Material
  • Carbon-Based Supercapacitors
  • Metal OxideBased Supercapacitors
  • Conducting PolymerBased Supercapacitors
  • Composite-Based Supercapacitors
• By Application
  • Automotive
  • Energy
  • Consumer Electronics
  • Aerospace & Defense
  • Healthcare
  • Others
• By Region
• North America
  • The U.S.
  • Canada
  • Mexico
• Europe
  • Western Europe
    • The U.K.
    • Germany
    • France
    • Netherlands
    • Italy
    • Spain
    • Rest of Western Europe
    • Eastern Europe
      • Russia
      • Ukraine
      • Poland
      • Rest of Eastern Europe
• Asia Pacific
  • China
  • India
  • Japan
  • Australia & New Zealand
  • ASEAN
  • South Korea
  • Rest of Asia Pacific
• South America
  • Argentina
  • Brazil
  • Rest of South America
• Middle East
  • UAE
  • Saudi Arabia
  • Qatar
  • Egypt
  • Rest of Middle East
• Africa
• South Africa
• Nigeria
• Rest of Africa                   

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