Growth in Consumer Electronics Sector is Expected to be a Major Factor for Growth in the Global Super-Capacitor Market
A super-capacitor, also named as ultra-capacitor, has a high capacity and higher capacitance compared to conventional capacitors. It is capable of storing 10 to 100 times more energy per unit volume than electrolytic capacitor. This supercapacitor acts as a bridge between capacitors and rechargeable batteries, to fill the gap between them. Super-capacitors can be used for power regulation in batteries. Super-capacitors are able to receive and discharge charge much faster as compared to a battery. It has low impedance, due to which it has high and low temperature charge and discharge capacity. Owing to this property, super-capacitor are suitable for application where faster charging and discharging is required, rather than energy storage for long period of time. These applications includes cars, trains, buses, and elevators, where it can be utilized for regenerative braking and storage of energy for short period of time.
Other major applications include wind turbines. In wind turbine application, supercapacitors responsible for smoothing out the discontinuous power supplied by the wind.
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Growth in consumer electronics sector is expected to be a major factor for growth in the global super-capacitor market. This is owing to increasing adoption of smart, sustainable, and convenient devices. For example, in smartphones and laptops, there is a requirement for longer electric power backup, and super-capacitor fulfills this requirement. For instance, according to Coherent Market Insights’ analysis, as of 2016, around 350 units of mobile devices were sold globally, which accounted for an increase of over 3.7% from 2015. Revenue generated by smartphone devices alone, accounted for over 70% sales of the global mobile devices in 2016.
However, high cost of materials is expected to restrain growth of the global super-capacitor market. For instance, graphene is most commonly used in supercapacitors as electrolytes, which is more expensive than activated carbon. Its initial high cost exceeds the cost of lithium ion batteries.
Asia Pacific market is expected to exhibit the highest CAGR over the forecast period (2017–2025). This is due to presence of major key players in this region such as Panasonic Corporation (Japan), Murata Manufacturing Co., Ltd. (Japan), and Nesscap Co., Ltd. (China). Additionally, high growth in automotive sector is expected to boost the market growth. According to the International Energy Agency’s Global EV Outlook, China was largest market for electric vehicles in 2016, accounting for over 40% of the electric cars sold globally, which includes over 200 million electric two-wheelers and over 300,000 electric buses. Super-capacitors are significantly used in electric and hybrid vehicles for short-term energy storage and brake reforming. Hence, growth in electric and hybrid market is expected to lead to regional supercapacitor market growth.
Major players operating in the global supercapacitor market include Cap-XX Limited, Panasonic Corporation, Nesscap Energy Inc., Murata Manufacturing Co., Ltd., Maxwell Technologies, Inc., Skeleton Technologies, Axion Power International, Inc., Graphene Laboratories, Inc., Nippon Chemi-Con Corporation, Mouser Electronics, Inc., AVX Corporation, Evans Capacitor Company, and SPEL Technologies Private Limited.
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