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(IT-NEWSWIRE.COM, October 23, 2019 ) Market Overview
• The rapid advancements in the electronics sector, coupled with rising demand for high capacity charge storage devices will be driving the market for the supercapacitors.
• The supercapacitor, also known as ultracapacitor, differs from a regular capacitor in that it has very high capacitance. A capacitor stores energy through a static charge as opposed to an electrochemical reaction. Applying a voltage differential on the positive and negative plates charges the capacitor.
Market Dynamics
• The global Supercapacitors' market growth is primarily driven by the increasing use of supercapacitors in automobiles. Supercapacitors are used within vehicles to provide peak load enhancement capability for the power source. They are also being used in regenerative braking systems where they store the energy reclaimed during braking for later use. The supercapacitors are also being developed to replace the present lithium-ion batteries as they have advantages over them. The high demand and sales of electric vehicles across the globe will drive the market for the supercapacitors in the forecast period.
• According to International Energy Agency (IEA), in 2017, more than one Billion EVs were sold globally, with countries like Norway, China, and the US dominating the global EVs market in terms of market share.
• However, the high cost of installations and low awareness of the supercapacitors are the major factors that will hinder the growth of the Supercapacitors market for the forecast period.
Market Segmentation
• By Type, the global Supercapacitors market is segmented into Double Layer Capacitor, Pseudo Capacitor, and Hybrid Capacitor. Double-layer capacitors have the dominant position in the Supercapacitors Type segment and are expected to retain its dominance in the forecasted period due to the wide acceptance of double-layer capacitors. The DLC supercapacitor utilizes a carbon-based technology that uses an organic electrolyte. This technology is easier to manufacture than the other types, and therefore it has gained wider acceptance.
• By Application, the global Supercapacitors market is segmented into Consumer, Electronics, Industrial, Energy, Medical Electronics, and Transportation. Consumer Electronics has the dominant share in the Application segment and is expected to retain its dominance in the forecast period. However, the favorable government policies and the rising awareness among the people reducing carbon footprint are expected to drive the market for the electric automotive therefore the market for Transportation will grow heavily in the forecast period.
Geographical Analysis
• By geography, the global Supercapacitors market is segmented into North America, Asia-Pacific (APAC), Europe, South America, and the Middle East and Africa (MEA).
• Asia-Pacific holds the largest market share for Supercapacitors Market, due to the rising use of capacitors as they are extensively used as power back-up for memory functions in a wide range of consumer products such as mobile phones, laptops and radio tuners. The high demand for electronics like mobile, tablets, and others are also driving for the region in the forecast period. Hence, there is a rise in the production of electronics in countries like India. For instance, according to the Indian Cellular Association (ICA), the annual production of mobile phones within the country has increased from 3 million devices in 2014 to 11 million devices in 2017. India now accounts for 11 percent of global mobile production, which was only 3 percent in 2014.
Competitive Analysis
• Key players are adopting strategies such as investing in R&D, new product launches, expansion in distribution channels to stand out as strong competitors in the market. Global Supercapacitors Market is a fragmented market with the presence of various global and regional players in the market. The major players include Cap-XX Limited, Panasonic Corporation, Nesscap Energy Inc., Maxwell Technologies, Inc., and Axion Power International, Inc. Other key players in the market include Nippon Chemi-Con Corporation, Graphene Energy, FastCAP Systems, Inc., Nesscap Energy Inc., and Seiko Instruments Inc.
• In September 2018, Maxwell Technologies, Inc. (Nasdaq: MXWL), a leading developer and manufacturer of energy storage and power delivery solutions, announced a grid energy storage subsystem design-in with Siemens to deliver economical, fast responding, long life grid voltage and frequency support solutions. This partnership with Siemens is expected to further validate the company’s strategic expansion into grid system products and the market demand for fast-responding, long asset life, ultracapacitor grid energy storage.
• In November 2018, CAP-XX is announced the agreement with TDK Corporation. TDK will license a family of CAP-XX's patents on a non-exclusive basis for a range of supercapacitor sizes. TDK, one of the World's largest electronic component suppliers, with sales over US$11 billion and over 100,000 employees, will join Murata and AVX as licenses of CAP-XX's supercapacitor IP, as CAP-XX pursues its strategy of building and licensing its IP portfolio.
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