North America dominates the Supercapacitors Market
North America will dominate the Supercapacitors Market during the forecast period. It is expected to reach $ 4191.84 million at a CAGR of 33.8% by 2023. This region manufactures most of the advanced super capacitors. The R&D activity and the funds for product development are very high in the region. Hence, efficient and longer life super capacitors which have high energy density are used in many applications. The US has the highest market share, followed by Canada and Mexico. The US utilizes supercapacitors in military, space systems, and medical applications. Europe stands in second position in the Supercapacitors Market, followed by Asia Pacific.
Selected Analysis done in the full Report:
In 2017, the Electronics segment reached a value of $942 million. It dominates the Supercapacitors Market. It will reach revenue of $4321.37 million by 2023 at a CAGR of 34.5%. Supercapacitors have many applications in the electronics industry. They can increase the battery storage of the smartphones due to their high power density and infinite charge cycles. The conjunction of battery and super capacitors is used as an electric vehicle battery in hybrid vehicles. They can give a better performance when compared to a normal vehicle battery. Small electronic components can also be powered by super capacitors. Recent developments have shown that super capacitors can be used for motor drives and motor devices such as handheld devices and laptops.
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Excerpts on Market Growth Factors:
Growth of R&D activities in countries such as China, France, and US enhances the demand for supercapacitor battery.
Growth of consumer electronics segment will surely boost the Supercapacitors Market in the coming years.
The reduction in the prices of ultracapacitor will drive their adoption in different applications.
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Key players of the Supercapacitors Market:
The key players of the Supercapacitors Market include Maxwell Technologies, Nippon Chemicon, Panasonic Electronic Devices, and Nesscap Co Ltd. Maxwell Technologies manufactures power delivery solutions for heavy transportation, automotive, backup power, renewable energy, and backup power. Nippon Chemicon manufactures capacitors and other electronic components. Panasonic Electronic Devices has its activities in housing, consumer electronics, automotive, and devices. It also provides non electronic products and services such as home renovation services. Nesscap meets the energy demands of applications such as portable electronic devices. Its business areas include consumer and automotive industries.
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