Supercapacitors to See Strong Growth through 2022
Rapid technological advancements and quickly evolving green energy applications have proven to be major drivers for the global supercapacitors market.
Showing significant potential, the global market for supercapacitors is projected to enjoy a compound annual growth rate (CAGR) of 18.6% from 2017-2022; the market is expected to reach $2.44 billion by 2020. According to a recent report available from Research and Markets, rapid technological advancements and quickly evolving green energy applications have proven to be major drivers for the market. The transportation industry has also given a major boost to the supercapacitor market, since demand for electric vehicles and trains is increasing, particularly in developed economies like China, the U.S., Japan, France, and others.
North America held the largest market share in the global supercapacitors market and is projected to dominate throughout the forecast period, closely followed by Europe. The region is majorly driven by the U.S. due to increasing R&D and strict regulations pertaining to environmentally friendly technologies.
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