DUBLIN--(BUSINESS WIRE )--The "Supercapacitor Market by Type (Double Layer Capacitors, Pseudocapacitors, Hybrid Capacitors), Electrode Material (Carbon, Metal Oxide, Conducting Polymers, Composites), Application (Automotive, Energy, Consumer Electronics) - Global Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.
The global supercapacitor market size is expected to grow from USD 472 million in 2022 to USD 912 million by 2027, at a CAGR of 14.1%. The growing need for energy conservation solutions and high storage capabilities in sectors such as automotive, energy, and consumer electronics applications is driving the demand for supercapacitors during the forecast period.
Escalated usage of supercapacitors for the development of wind turbines, grid energy storage systems, EVs/HEVs, railways/trains and aircraft, smart wearables, and so on are some of the major factors accelerating the growth of the supercapacitor market.
Double-layer capacitor segment to account for the larger share of market in 2022
The double-layer capacitor segment is projected to account for the largest share of the supercapacitor market in 2022. These capacitors are used as an alternative to conventional batteries. They work excellently in all those applications where a stable supply of energy is required over a short period of time. Double-layer capacitors replace conventional batteries in consumer electronics applications, such as smart wearables, computers, laptops, and foldable phones. These supercapacitors are a clean source of energy as opposed to conventional batteries; hence, several battery manufacturers are focused on expanding their product portfolio with the inclusion of double-layer capacitors.
Automotive Industry is expected to grow at the highest CAGR of the supercapacitor market during the forecast period
The automotive segment is projected to hold the largest share of the supercapacitor market in 2022. The advent of electric vehicles is likely to create opportunities for supercapacitors in the automotive sector. Several automotive manufacturers across the world are eventually likely to switch from battery-powered electric vehicles to supercapacitor-powered electric vehicles owing to the high scalability and broad operating temperature range offered by supercapacitors. Hence, the automotive industry is expected to exhibit significant growth from 2022 to 2027.
Asia Pacific is expected to account for the largest share of market during the forecast period
Asia Pacific is expected to contribute the largest size of the supercapacitor market in 2022. Rapid industrialization and infrastructure development are driving the growth of consumer electronics and automotive industries in China, which is expected to increase the demand for supercapacitors in the region.
The supercapacitor market has been segmented into type, electrode material, application ,and region. The supercapacitor market has been studied for North America, Europe, Asia Pacific, and the Rest of the World (RoW).
8 Supercapacitor Market, by Electrode Material
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ResearchAndMarkets.com Laura Wood, Senior Press Manager press@researchandmarkets.com For E.S.T Office Hours Call 1-917-300-0470 For U.S./CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900