Supercapacitor or ultracapacitor is the umbrella term for electronic capacitors capable of holding larger electrical charge quantity on low voltage and current. These capacitors are commonly used in advanced smart meters and help them store information about energy consumption. They also prevent data loss in the event of power failure. The global Supercapacitor market is driven by growth in the use of smart meters and technological advancements on global scale. Growth in the overall power sector is directly influencing the demand and investments in this industry leading to strong revenue channels and global expansions of the existing as well as potential investors.
Segmentation in Supercapacitors Industry
The global Supercapacitor market is segmented on the basis of the different market products and their applications. Geographic segments of the global industry are also considered while drawing conclusions about the overall market trends, drivers, opportunities, threats, competition and future development opportunities for the global market.
- Products: The basic segments of the industry include Industrial, consumer, transport, medical, energy, and other products.
- Applications: Consumer electronics, alternative/batter applications, reusable energy, environment-friendly applications
- Geography: North America, South America, Europe, Asia Pacific, and rest of the world
Trends and Drivers for Future Growth
Growth in the demand for steady energy supply is the strongest driver for the capacitor industry. Rising industrial and energy applications of the ultracapacitors are creating steady influx in terms of demand and supply ratio of the industry. The global Supercapacitor market is also driven by the factors like price improvement, performance ratio of the market, rapidly improving technology, and industrial growth in the emerging regions. Major market for the Supercapacitors is concentrated in the developed countries from North America, Europe, Asia and Middle East. However, changing nature of demand and growth in the applications of these products has created better business opportunities for the industry.
As per the latest industry research reports, the global Supercapacitor market is expected to witness exponential growth rate of over 29% from 2013, which is expected to take the industry to $2.10 billion by the end of the year 2020. North America is estimated to dominate the global market during the forecasting period. However, emerging markets like Asia Pacific are expected to gain greater business prospects thanks to the increasing investments and technological advancements in these regions. Overall, growing focus on clean and green technology with constant efforts to develop the available capacitors will contribute to the essential growth of the Supercapacitor market.