Supercapacitor Market to Reach $7.37 bn by 2023 | Automation.com

Supercapacitor Market to Reach $7.37 bn by 2023

Supercapacitor Market to Reach $7.37 bn by 2023

According to a new market report published by Transparency Market Research “Supercapacitor Market - Global Industry Analysis, Trend, Size, Share and Forecast 2015 - 2023”, the global supercapacitor market was valued at US$1.21 bn in 2014 and is expected to reach US$7.37 bn by 2023, at a CAGR of 22.3% from 2015 to 2023.

Browse the full Supercapacitor Market by Application (automotive and transportation, Industrial, energy, consumer electronics and others), by Product (double layer supercapacitor, pseudocapacitor and hybrid capacitor) and by Type (supercapacitor module, supercapacitor cell and board mounted supercapacitor) - Global Industry Analysis, Trend, Size, Share and Forecast 2015 - 2023   report at http://www.transparencymarketresearch.com/supercapacitor-market.html

Go green revolution adopted across the globe is one of the primary factors responsible for the robust growth of supercapacitor market globally. Moreover, rising cost of fossil fuels and excessive carbon emissions are also expected to pave the way for an alternative means of power supply across different application segments especially across automobiles and consumer electronics sector among others. Initiatives taken by different governments to reduce CO2 emission and to encourage sustainable consumption are predicted to drive the supercapacitor market in the coming years. In addition, inclination of different enterprises towards producing and storing energy from renewable sources owing to extensive depletion of natural resources is also anticipated to trigger the demand for supercapacitor globally.

The global supercapacitor market is segmented on the basis of application, product, type and geography. By application, the supercapacitor market has been bifurcated into automotive and transportation, industrial, energy, consumer electronics and others. The others segment includes application of supercapacitor in aerospace, military and sensor technologies. On the basis of products, supercapacitor market is segmented into double layer supercapacitor, pseudocapacitors and hybrid capacitors. Based on type, the global supercapacitor market is classified into supercapacitor module, weldable cells and board mounted supercapacitor. Geographically, the supercapacitor market is segmented into North America, Asia Pacific, Europe and Rest of the World (RoW).

Among the different product categories of supercapacitor, the double layer segment held the largest market share, i.e., 42.8% in 2014. Surge in the demand for technologically advanced consumer electronic products having high power density is expected to drive the market of double layer supercapacitor enormously. However, the hybrid supercapacitor segment is predicted to witness the fastest growth rate with a CAGR of 23.5% from 2015 to 2023. By geography, North America held the largest market share in supercapacitor market valued at 38.8% in 2014. The supercapacitor market in North America is a mature market owing to its higher penetration level. Consequently, North America supercapacitor market is predicted to experience sluggish growth during the forecast period. Europe occupied the second largest market share in the global supercapacitor market. Initiative taken by European Commission in 2014 to achieve CO2 emission target of 95g/km by 2020, is responsible for the robust growth of supercapacitor market in Europe.

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Transparency Market Research (TMR) is a global market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of Analysts, Researchers, and Consultants, use proprietary data sources and various tools and techniques to gather and analyze information.

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