LONDON--(BUSINESS WIRE)--Technavio analysts forecast the global supercapacitor market to grow at a CAGR of over 21% during the period 2018-2022, according to their latest market research report.
In this report, Technavio highlights the increasing focus on advanced supercapacitors as one of the key emerging trends in the global supercapacitor market. The present supercapacitors 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 will provide improved performance in consumer electronics, electric vehicles, and other applications.
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In this report, Technavio analysts highlight the benefits of supercapacitors as a key factor contributing to the growth of the global supercapacitor market:
Global supercapacitor market: Benefits of supercapacitors
Supercapacitors have the largest capacitance value than other capacitors. Dielectrics measure their capacitance in picofarads and microfarads. On the other hand, 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 rendering supercapacitors high popularity, 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.
According to a senior analyst at Technavio for embedded systems, “Factors such as providing peak power and backup power; extending battery run time and battery life; reducing battery size, weight, and cost; low or high temperature operation; fast charging time; enhanced load balancing when used in parallel with a battery; providing energy storage and source balancing; removing pulse current noise; minimizing space requirements; and meeting environmental standards are some of the advantages of supercapacitors that is increasing their adoption in many industries.”
Global supercapacitor market segmentation
This market research report segments the global supercapacitor market into the following applications (automotive, consumer electronics, industrial, and energy) and key regions (the Americas, APAC, and EMEA).
Of the four major applications, the automotive segment held the largest market share in 2017, accounting for nearly 30% of the market. The market share for this application is expected to decrease nearly 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, APAC is expected to register the highest growth in terms of market share.
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