The global
supercapacitor market is expected to experience stable growth during
the forecast period of 2015 to 2023. Supercapacitor, also known as
ultracapacitor, is an electrical component having greater capacitance
and power density than conventional capacitors. Currently,
supercapacitor are increasingly adopted across various applications
such as automotive, elevators, cranes and consumer electronics among
others that require frequent energy charge and discharge cycle rather
than long term energy storage. For the purpose of our research, the
global supercapacitor market is segmented on the basis of
application, product, type and geography. By application the various
category of supercapacitor market includes automotive and
transportation, industrial, energy, consumer electronics and others.
The other segment includes application of supercapacitor in
aerospace, military and sensors technologies. Based on products, the
global supercapacitor market is segmented into double layer
supercapacitor, pseudocapacitors and hybrid capacitors. By type,
supercapacitor market is segmented into supercapacitor module,
weldable cells and board mounted supercapacitor. Moreover, the report
also provides cross sectional analysis of all the above segments
across different countries within North America, Asia Pacific, Europe
and Rest of the World.
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The global
supercapacitor market is primarily driven by increasing demand for
supercapacitor across different consumer electronics and automotive
applications in order to provide backup power. Supercapacitor
provides the necessary power backup required for smooth functioning
of the various applications such as video calling, cameras, wireless
communications and GPS navigation used in consumer electronic
devices. Similarly, the other industrial hand-held devices such as
GSM/GPRS and RFID (Radio-frequency identification) communications,
LED flash, thermal printers, bar code scanners and GPS (Global
Positioning System) chips among others can also be operated more
conveniently with the help of supercapacitor for providing the
required power boost. Using supercapacitor in line with batteries in
these electronic devices increases the lifecycle of conventional
batteries by reducing the load of voltage drops. Thus, battery
run-time and operational life can be improved extensively by using
supercapacitor in these electronic devices. Thus, enormous demand of
the highly advanced consumer electronic appliances, in turn is
predicted to drive the market for supercapacitor at exponential rate
in the coming years. In addition, different initiatives by the
government in different parts of the world such as the U.S., Canada,
U.K., Australia, China and Japan to reduce the power consumption and
heat generation is also anticipated to increase the deployment and
usage of supercapacitor globally. Moreover, the ongoing practice to
upgrade the power generation system from renewable sources across the
globe in order to reduce rapid depletion of natural resources is also
anticipated to drive the market of supercapacitor in the coming
years.
However, competition
from well-established battery market and lack of awareness about the
huge benefits associated with supercapacitor are the most important
factors that deters the growth of supercapacitor market and restrict
users from adapting supercapacitor technology. In addition, high
initial purchasing cost of supercapacitor coupled with low adoption
is also inhibiting the market growth of supercapacitor. Currently
supercapacitor are facing immense competition from lithium batteries
due to its high price. Despite of these restrictive factors, the
supercapacitor market is forecast to witness substantial growth
during the forecast period of 2015 to 2023.
This report provides
the future predictive market growth of the global supercapacitor
market from 2015 to 2023 along with current market analysis. Detailed
study of the global supercapacitor market across different countries
with respect to product, type and application segment is also
highlighted in this report. In addition, the various micro economic
and macro-economic factors that are anticipated to affect the growth
of global supercapacitor market is also provided in this report.
In 2014, among the
different product categories of supercapacitor, the double layer
supercapacitor occupied the largest market share and accounted for
42.8% market share. However, the hybrid capacitors segment is
anticipated to witness the fastest growing segment. Rapid growth of
the Hybrid Electric Vehicle (HEV) market globally, in order to reduce
carbon emission is one of the major factors responsible for the
exponential growth of hybrid supercapacitor in the coming years. The
market of hybrid supercapacitor is forecast to witness the fastest
growth with a CAGR of 23.5% during the forecast period.
Among the different
types of supercapacitor, the board mounted supercapacitor held the
largest market share in 2014 and is also predicted to be the fastest
growing market with a CAGR of 22.7% from 2015 to 2023. Increasing
usage of board mounted supercapacitor by different automotive
manufacturers for various applications such as regenerative breaking
and start stop system in order to reduce fuel consumption is
responsible for the robust growth of board mounted supercapacitor
market.
Geographically, Asia
Pacific supercapacitor market is predicted to experience the fastest
growth rate with a CAGR of 23.2% from 2015 to 2023. Rapid expansion
of production facility in this region owing to huge capital
investment by different companies in this emerging technology results
in sharp fall of price of the supercapacitor. This reduction in price
of supercapacitor coupled with low maintenance cost is predicted to
increase the usage of supercapacitor across different application
segments. This in turn, is expected to boost the demand for
supercapacitor in the coming years.
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After considering
the various macroeconomic and micro economic factors, the predicted
future growth of the global supercapacitor market is provided in this
report. In addition, detailed analysis of various factors that are
anticipated to affect the demand of supercapacitor globally, is
highlighted in this report.
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