Global Market Insights adds global Supercapacitor Market report which focuses on the major drivers and restraints for the key players. It also provides analysis of the market share, segmentation, revenue forecasts and geographic regions of the market.
The growth of the supercapacitor market is also boosted by the upheaval of storage systems with a rise in market segments such as smart grids, renewable energy systems, and hybrid electric vehicles (HEV). Increasing investments in renewable energy owing to the need for environmental protection and achieve sustainable goals will further drive the supercapacitor market. In 2019, Tesla acquired Maxwell Technologies for USD 200 million for its supercapacitors to be used in electric vehicles. These devices have the capability to charge and instantaneously discharge over other lithium batteries, which is a driving factor for industry growth.
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The components of these products are different from a conventional capacitor as they offer high energy density and high capacitance. These attributes facilitate these technologies as a steadily growing market. Conventional capacitors do not store energy and have low power density. This product overcomes the drawback as it offers users with a higher storage capacity of discharge voltage, driving the demand for the supercapacitor market.
The transportation sector has also given a boost to the supercapacitor market, since in developed economies including the U.S., China, Japan, France. etc., the demand for electric trains and vehicles is growing. With the ability of quick charging and temperature stability, supercapacitors are replacing traditional electric car batteries. Additionally, supercapacitors are flexible than normal batteries and high demand for stable power supply for applications such as GPS, portable media players, laptops, mobile devices, etc. is an emerging trend in the market.
The healthcare sector is one of the spearheading sectors for the expansion of the supercapacitor market as it requires an uninterrupted power supply to tend to critical patients and use double-layered capacitors. These products can be useful in IoT edge systems as they can provide a secondary supply of power required in cases where the primary battery source fails such as prolonged usage and power surge. Additionally, these products can also be used as the primary source of power for the IoT systems. The market also facilitates the functioning of smart grids. Smart grids are prominently used to control the production and distribution of electricity. For a reliable and stable supply of power, nations across the world are expanding the usage of smart grids.
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The players operating in the supercapacitor market include Maxwell Technologies, Korchip Corporation, Panasonic Corporation, Niching Corporation, Rubycon Corporation, Elna Ltd, Kemet Co, Vishay Intertechnology, Skeleton Technologies, and Loxus. INC.