Electric Double-layer Capacitor Market is growing rapidly over 10.1% of CAGR forecast period to2018-2023 | Global Key Vendors by MAXWELL TECHNOLOGIES, MURATA MANUFACTURING, NEC TOKIN, NIPPON CHEMI-CON, PANASONIC, AXION POWER, CELLERGY

The global electric double-layer capacitor (EDLC) market is projected to register CAGR of 10.1% during the forecast period (2018 - 2023).
The electric double-layer capacitors provide better performance in several applications, including consumer electronics and electric vehicles. The rise in government regulations concerning carbon emissions, along with growing adoption of graphene and carbon nanotube EDLCs, is a major factor that is expected to drive the growth of the market. Considering the high costs involved and the limited scalability, manufacturers are providing EDLCs based on carbon nanotubes and graphene. Evolving green energy applications, advancements in electric double-layer capacitor technologies, improving price/performance ratios, and growing new applications across several industries are driving the market for electric double-layer capacitors.

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Growing Demand for Environment-Friendly Technologies
The consumption of oil and other hydrocarbon reserves has increased largely in the past few years. With rapid economic growth around the world, the average energy consumption has begun to rise globally. Developments in the Industrial sector have enabled the exploitation of more energy resources in order to run the business. Major companies in the semiconductor technology re pacing up their efforts to reduce greenhouse gas emissions, which is increasing the market for alternative energy technologies.

Major Players:
MAXWELL TECHNOLOGIES, MURATA MANUFACTURING, NEC TOKIN, NIPPON CHEMI-CON, PANASONIC, AXION POWER, CELLERGY, CAP-XX, EESTOR, ENABLE IPC, EPCOS, ELNA, NICHICON, amongst others.

Key Developments in the Market
April 2018 - CAP-XX develops a 3 Volt thin prismatic capacitor. The company will deploy its 3V technology first in thin prismatic form to meet demand for small, inexpensive, energy-efficient power solutions for thin wearables, key FOBs, and other IoT devices

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Automotive Sector Holds a Significant Market Share
Automobile manufacturers are majorly using electrical energy instead of fossil fuels in order to reduce the number of carbon emissions. With the rise in technological advancements, along with the need to minimize the hazardous effects of e-waste in the environment, they are using electric double-layer capacitors to substitute electrolytic batteries, subsequently fueling market growth. Factors, such as efficient operation in harsh weather conditions and the rise in fossil fuel prices, will considerably contribute to the growth of the double-layer capacitor market in this industry segment.

North America to Hold the Major Market Share
Modernization of old transmission power grids, increased penetration of electric vehicles, and the growing need for wireless chargers for vehicles are some the factors that are expected to impact the market growth in North America. Electronic gadgets see high adoption rate in the country. In the US, which is one of the technologically advanced nations in the world, most people buy consumer electronics on a regular basis. Smart phones, tablets, portable speakers, and AI-assisted electronics are experiencing high growth in the region. Presence of large multinational corporations makes the country a pilot region for most of the electronic devices. These factors are influencing the growth of the electric double-layer capacitors market in the region.

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This release was published on openPR.