Supercapacitor Market Charged for Growth through 2022
Supercapacitors are expected to provide improved performance in consumer electronics, electric vehicles and other applications.
The global supercapacitor market is projected to grow at a CAGR of over 21% from 2018-2022, according to a recent report from Technavio. The increasing focus on advanced supercapacitors is reportedly one of the key emerging trends in the global supercapacitor market. According to the report, supercapacitors currently available in the market are not pocket friendly and possess limited scalability. To overcome these limitations, companies are concentrating on manufacturing carbon nanotubes and graphene-based supercapacitors. The combination of nanotubes and graphene can be used to construct a supercapacitor that can store a substantial amount of energy; this energy can be released quickly to create power surge. These supercapacitors are expected to provide improved performance in consumer electronics, electric vehicles and other applications.
Supercapacitors have the largest capacitance value of other capacitors; dielectrics measure their capacitance in picofarads and microfarads, while supercapacitors measure their capacitance in millions of microfarads or in farads. Supercapacitors hold a significant amount of charge that can be released rapidly like pulse discharge capacitors or slowly like batteries. This feature is creating high popularity for supercapacitors, which in turn, is increasing their adoption in industrial sectors. Supercapacitors have energy storage properties like that of batteries. Additionally, they have power discharge characteristics like that of capacitors. These factors further make them a viable solution for portable communication devices.
The report segments the global supercapacitor market into the following applications: automotive, consumer electronics, industrial, and energy. The automotive segment held the largest market share in 2017, accounting for nearly 30% of the market, though the market share for this application is expected to decrease around 1% by 2022. The fastest-growing application is consumer electronics, which will account for nearly 23% of the total market share by 2022.
The Americas was the leading region for the global supercapacitor market in 2017, accounting for a market share of nearly 38%. By 2022, the Asia-Pacific region is expected to register the highest growth in terms of market share.
For more information, visit www.technavio.com.