(MENAFN- America News Hour) Research Nester published a report titled “Supercapacitor Market: Global Demand Analysis & Opportunity Outlook 2029” which delivers detailed overview of the global supercapacitor market in terms of market segmentation by type, components, material, application, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
The global supercapacitor market is anticipated to witness a significant CAGR during the forecast period, i.e., 2021-2029. The market is segmented on the basis of application into industrial, electric vehicles, consumer electronics, aerospace, and others, out of which, the electric vehicles segment is anticipated to witness the highest growth by the end of 2029. This growth can be attributed to the rising investment in manufacturing electric vehicles by major car manufacturers around the world, which is estimated to boost the manufacturing of electric cars, which, in turn, is expected to boost the market growth. Moreover, increasing sale of EVs is projected to boost the market growth. In 2019, there were more than 4.5 million EVs being used on a global level. The market is segmented based on material into porous carbon, double layer hydroxides, carbon aerogel, and others, out of which, the porous carbon segment is forecasted to hold a major share in the market, over the forecast period, owing to the favorable chemical properties of porous carbon, such as, chemical stability, huge surface area, excellent electronic conductivity, and lower cost.
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The global supercapacitor market is estimated to grow on the back of increasing demand for supercapacitors in the manufacturing of consumer electronics and electric vehicles. Features of supercapacitors, such as, high power density, fast charging and discharging, poor self-discharging and low cost, are estimated to significantly boost the market growth.
Regionally the global supercapacitor market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region. The market in North America region is anticipated to witness the largest share over the forecast period owing to the growing automotive industry in the region, coupled with increasing demand for electric vehicles, including, electric cars, buses and others. Moreover, constant innovation in technology and the growing demand for better energy storage solutions amongst the manufacturers of consumer electronics, is estimated to boost the market growth in the region. The market in the Asia Pacific is projected to experience growth at a notable CAGR during the forecast period on the back of rising technological development in countries, such as, China, and Japan. These highly populated nations are becoming the hub for electronics industry backed by advancement in technology, cheap labor, and convenient government regulations. This, as a result, is foreseen to boost the market growth in the region.
Growth of the Automotive Industry to Augment the Market Growth
The growing demand for supercapacitors in the automotive industry, especially for the manufacturing of electric vehicles, is estimated to boost the market growth. Moreover, supercapacitors are being adopted in hybrid vehicles instead of batteries, as supercapacitors store energy in static state rather than chemical form, which is foreseen to promote the market growth.
“The Final Report will cover the impact analysis of COVID-19 on this industry.”
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However, the global supercapacitor market faces competition from the existing battery market, especially for application in electronic gadgets and devices, which is likely to act as a restrain for the market growth. Furthermore, lack of awareness regarding the beneficial features of these supercapacitors is estimated to hamper the market growth.
This report also provides the existing competitive scenario of some of the key players of the global supercapacitor market which includes company profiling of AVX Corporation (KYOCERA Corporation) (TYO: 6971), CAP-XX (Australia) Pty Ltd, Mouser Electronics, Inc., Admat Inc., ELNA Co., Ltd, Eaton Corporation plc (NYSE: ETN), Maxwell Technologies, Inc. (Tesla, Inc.) (NASDAQ: TSLA), Panasonic Corporation (TYO: 6752), High Energy Corp. and F.W. Webb Company. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global supercapacitor market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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