Supercapacitor Market Size is Expected To Reach USD 16.95 Billion By 2027 - Valuates Reports
BANGALORE, India, Oct. 16, 2020 /PRNewswire/ -- According to the Latest Market Research Report "Supercapacitor Market by Product Type (Double-Layer Capacitor, Pseudocapacitors, and Hybrid Capacitors), Module Type (Less Than 10 Volts Modules, 10 Volts to 25 Volts Modules, 25 Volts to 50 Volts Modules, 50 Volts to 100 Volts Modules, and Above 100 Volts Modules), Material (Activated carbon, Carbide Derived Carbon, Carbon Aerogel, and Others), and Application (Automotive, Industrial, Energy, Consumer Electronics, and Aerospace & Defense) and Region – Global Forecast to 2026", published on Valuates Reports.
The global supercapacitor market size was valued at USD 3.27 Billion in 2019 and is expected to reach USD 16.95 Billion by 2027, growing at a CAGR of 23.3% from 2020 to 2027.
The major factors that drive the growth of supercapacitors market size are the growing demand for supercapacitors in automotive applications, rise in demand for renewable energy systems, and favorable government regulations.
This research provides an empirical representation of the global Supercapacitor Market size along with existing developments and potential predictions to depict the imminent pockets of investment. The study also provides details related to key drivers, constraints, and supercapacitor market opportunities with thorough impact analysis.
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TRENDS INFLUENCING THE SUPERCAPACITOR MARKET SIZE
The supercapacitor application in renewable energy is expected to drive the supercapacitor market size during the forecast period. Supercapacitors are commonly used in solar and wind energy applications due to their extended operating life.
Furthermore, the rise in demand for micro-supercapacitors is expected to fuel the supercapacitor market size.
Supercapacitors are more agile than traditional batteries. The rising demand for stabilized power supply in applications with fluctuating loads, such as laptop computers, GPS, portable media players, and handheld devices, is expected to increase the supercapacitor market size.
However, the factors expected to hamper market growth are high initial costs of materials and poor knowledge of supercapacitors.
SUPER CAPACITOR MARKET SHARE ANALYSIS
Asia-Pacific accounted for the largest supercapacitor market share in 2019. In the Asia-Pacific, China and India have fostered the highest growth due to a rise in the automotive market and growth in the electronics sector.
North America was the second-largest contributor in terms of sales and is expected to see substantial growth during the forecast period. North America's growth is attributed to the demand for supercapacitors in the large and mid-sized automotive industries.
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KEY MARKET SEGMETATION
By Product Type
By Module Type
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