Super Capacitor Market to Register an Impressive CAGR of 19.88% During 2018 – 2023 | Global Key Players (MAXWELL TECHNOLOGIES, PANASONIC CORPORATION, NESSCAP, NEC-TOKIN CORPORATION, SKELETON TECHNOLOGIES)

The super capacitor market was valued at USD 0.76 billion in 2017, and is expected to reach a value of USD 2.25 billion by 2023, at a CAGR of 19.88%, over the forecast period (2018 - 2023). The scope of the report is limited to segmentation by type, including double layer, pseudo, and hybrid, by end users, like aerospace & defense, industrial, utilities, consumer electronics, healthcare, and transportation. The regions considered in the scope of the report include North America, Europe, Asia-Pacific, and the Rest of the World.

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Key Developments in the Market

June 2017: Panasonic Corporation bridged the gap between batteries and super-capacitors with its newly developed Energy Polymer Capacitor reaching energy densities comparable to lead acid batteries while keeping the high power density of super capacitors. Panasonic Energy Polymer Capacitor will enable new solutions for backup power, peak power assist and regenerative storage applications.

February 2017: Maxwell technologies announced that it has entered into an agreement with Nesscap Energy Inc to acquire the whole business assets of the company. The company expects to capitalize on synergies between the two companies that will accelerate growth, increase the innovation rate, and create an expanded and strengthened product portfolio. With a strengthened sales channel, increased R&D capabilities, and improved manufacturing efficiencies, Maxwell is expecting to be able to deliver more products, faster into target markets thereby benefitting customers and other technology adopters.

Major players:

MAXWELL TECHNOLOGIES, PANASONIC CORPORATION, NESSCAP CO LTD, NEC-TOKIN CORPORATION, SKELETON TECHNOLOGIES amongst others.

Growing Adoption of Hybrid Electric Vehicles is Driving the Market

Alternative energy storage solutions are imperative for reducing dependency on depleting natural resources. Despite government support for alternative energy storage solutions, lithium batteries are widely used for a variety of hybrid vehicles. However, trying to achieve high power density in an energy-dense battery, like lithium-ion, results in shortened life and increased stress. The super capacitor is a perfect fit for a range of vehicles from light to heavy hybrids, in which it can process the power of start-stop operations and braking which drives the market in the coming years.

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Pseudo Capacitor has A Major Market Share among Others Types of Super Capacitors

Pseudo capacitor was estimated to dominate the market in terms of market share in 2016, as it found many applications in portable and handheld products. The consumer electronics industry registered a very high rate of adoption of pseudo capacitors, substituting typical batteries. The use of pseudo capacitors to optimize power usage and recently developed fast-charging concepts has further augmented the growth of the pseudo capacitors in the market. Pseudo capacitors have been identified as the ideal charge storage device in less heavy-duty products, such as the laptops, devices, and others.

China Has the Largest Market Share over the Forecast Period

In annual sales of electric vehicles, China overtook both the European and the US markets. China is already using super capacitors in hybrid buses; these buses are equipped with stop-start engines where the super capacitors reduce the load on the battery itself, which will likely increase the lifetime of the batteries. When it comes to the consumer electronics industry, China is racing first in the sales of smart gadgets and other devices. These are few dynamics that are boosting the growth of the super capacitors market in China.

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