Supercapacitor Market revenue to cross USD 5 Bn by 2027: Global Market Insights Inc.

SELBYVILLE, Del., Jan. 10, 2022 /PRNewswire/ -- The supercapacitor market size is anticipated to record a valuation of USD 5 billion by 2027, according to the most recent study by Global Market Insights Inc. The market growth is attributed to growing demand for electric trucks for transportation in the logistics sector.

The use of supercapacitors in electric vehicles assists manufacturers in achieving price parity in comparison to conventional diesel vehicles. Several market participants are focusing on integrating supercapacitors by replacing large batteries in electric trucks to reduce the overall purchase price of the vehicle.

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The pseudo-capacitor segment held 5% of the supercapacitor market share in 2020 and is projected to witness 10.5% growth rate through 2027. The industry growth is credited to technological advancements in raw materials used for manufacturing pseudo capacitors. Several companies and educational institutes are focusing on developing high performing supercapacitor materials to address the high market demand.

The conducting polymer-based supercapacitor is poised to expand at more than 12.5% CAGR till 2027 led by the several benefits offered such as precise conductivity, high capacitance, easy fabrication and low-cost development. These characteristics enable its incorporation in several medical applications such as MRI power and CT scan power quality management. Furthermore, market participants are focusing on developing efficient supercapacitor polymer materials for healthcare medical devices.

The industrial application segment in the supercapacitor market is estimated to attain a CAGR of 12% during 2021 to 2027. Increased government efforts to promote Industry 4.0 trends for industrial automation and control systems are driving the market expansion. For example, in October 2021, the Saudi Arabia Ministry of Industry and Mineral Resources announced a plan to digitalize 4,000 factories in the region over the next five years. These factories will be retrofitted with automatic guided vehicles, off-grid facilities, and smart auxiliary power systems, among others. This industrial equipment will be integrated with supercapacitors to achieve advantages such as low-cost, maintenance-free, long-term service, etc., propelling the market progression even further.

Europe supercapacitor market is anticipated to grow at a CAGR of over 12% by 2027 on account of the favorable initiatives taken by government authorities to deploy high-performance supercapacitors in aerospace applications. For instance, in November 2020, The European Space Agency in collaboration with Airbus Defense and Space is developing and testing supercapacitors to be used in space missions. This technology will be used in high-powered satellite radar systems to stabilize the overall onboard power during solar eclipses.

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Some of the major companies operating in the market are Nippon Chemi-Con Corporation, Panasonic Corporation, Seattle Electronics Manufacturing Shenzhen Co., Ltd., and Shanghai Aowei Technology Development Co., Ltd. Several leaders are continually developing new approaches to expand their product offerings and address the industry's high demand such as market expansion through collaborations, mergers, and acquisitions.

Some major findings of the supercapacitor market report include:

• Rising adoption of Electric Vehicles (EVs) is expected to increase the demand for supercapacitors for integration into battery management systems. These capacitors are integrated with regenerative braking systems to recharge and store energy in car batteries, thus supporting the industry expansion.
• The expansion of government initiatives and policies that aim to boost consumer electronics manufacturing will fuel the supercapacitor market value. The rising demand for high battery storage capacity in smartphones and portable devices is fostering the acceptance of supercapacitors in the industry.
• The COVID-19 pandemic had a major influence on supercapacitor manufacturers, leading to the closure of multiple plants, supply chain problems, and international trade obstacles. Additionally, increased energy consumption in households due to the work from home trend is impelling the usage of supercapacitor-powered Uninterruptible Power Source (UPS) systems, accelerating the supercapacitor manufacturers' market potential.
• The North America market is expected to showcase a significant revenue share owing to rising demand for advanced healthcare equipment manufacturing in the region. Whereas in Asia Pacific, rising government initiatives to promote the renewable energy generation have further supported the industry demand.

Table of Contents (ToC) of the report:

Chapter 3 Supercapacitor Market Insights

3.1  Industry segmentation

3.2  Impact analysis of corona virus (COVID-19) pandemic on market

3.2.1  Global outlook

3.2.2  Impact by region

3.2.3  Industry value chain

3.2.4  Competitive landscape

3.3  Industry ecosystem analysis

3.3.1  Raw material suppliers

3.3.2  Manufacturers

3.3.3  Distribution channel

3.3.4  End-user

3.3.5  Vendor matrix

3.4  Technology & innovation landscape

3.4.1  Supercapacitor evolution landscape

3.4.2  Hybrid Lithium-Ion Battery Capacitor (H-LIBC) by SPEL TECHNOLOGIES PRIVATE LIMITED

3.4.3  Activated carbon supercapacitors

3.4.4  Graphene supercapacitors

3.5  Regulatory landscape

3.6  Price trend analysis

3.7  Industry impact forces

3.7.1  Growth drivers

3.7.2  Industry pitfalls and challenges

3.8  Growth potential analysis

3.9  Porter's analysis

3.10  PESTEL analysis

Browse Complete Table of Contents (ToC) @ https://www.gminsights.com/toc/detail/supercapacitor-market 

About Global Market Insights Inc.

Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.

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SOURCE Global Market Insights Inc.