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The global Supercapacitors market was valued at USD 487.45 million in 2019, and it is expected to reach USD 1570.75 million by 2025, registering a CAGR of 21.8% during the period of 2019-2025

NEW YORK, Sept. 23, 2020 /PRNewswire/ -- The global Supercapacitors market was valued at USD 487.45 million in 2019, and it is expected to reach USD 1570.75 million by 2025, registering a CAGR of 21.8% during the period of 2019-2025. The supercapacitor is an emerging technology for various energy storage systems, as it can offer higher power density than batteries and higher energy density over traditional capacitors. Supercapacitors are being used for an increasing number of applications, such as renewable energy power generation, transportation, power system, and many others, because of its advantages, including very high efficiency, high charge/discharge current capability, and wide temperature range, etc.



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- Primarily owing to the increased adoption in consumer electronics, the demand for supercapacitors increased significantly over the past few years. For instance, Samsung's Galaxy Note 9 came with a nifty new feature: the S Pen stylus Bluetooth, and could be charged instantly using a supercapacitor. Several smartphone manufacturers invested in next-gen battery design to better protect against drops and weather conditions that drove smartphone supercapacitors' growth.
- Also, with the automotive manufacturers emphasizing on reducing dependency on the oil sector and governing bodies imposing stringent environmental regulations, growth prospects for the electric vehicles are expected to be promising. This has led the supercapacitor manufacturers to explore profitable opportunities in the rapidly-evolving automotive industry.
- For instance, in February 2019, Tesla Inc, a prominent EV automaker, acquired Maxwell Technologies Inc., a leading battery technology company, for approximately USD 218 million. Following this acquisition, the company aims to capitalize on lucrative opportunities for electric vehicles. It planned to add expertise in the field of supercapacitors that could speed up car charging capabilities. Thereby, the evolving automotive industry, driven by the quest for constant advancements in supercapacitors' performance, creates a much exciting competitive environment for supercapacitor manufacturers. It is likely to trigger some groundbreaking innovations in the supercapacitors market over the forecast period.
- Further, In recent years, communication systems in telecom and space have propelled the demand for supercapacitors. The Indian Space Research Organization (ISRO), at its Vikram Sarabhai Space Center (VSSC), developed the technology for processing supercapacitors (2.5 V) of varying capacitance values viz., 5 F, 120 F, 350 F, and 500 F, catering to specific applications related to space and societal needs.
- However, the COVID-19 outbreak and recent lockdown across the globe have affected the manufacturing activities, especially in Asia -Pacific, where a significant portion of the global supercapacitors and electrode materials are manufactured. Although in May 2020, many of these manufacturing sites resumed their operations, the disruptions caused in starting four months in 2020 could result in order delays and lead time across the supercapacitor's supply chain during 2020. Moreover, the pandemic is also expected to influence global consumer spending significantly over the coming years, due to the non-operational status of various industries deemed non -essential by governments across the world.

Key Market Trends
Energy & Utilities to Hold a Significant Share

- The global energy crisis is opting for renewable and lasting energy sources, which may eventually replace fossil fuels. Supercapacitors/ultracapacitors are an important part of the solution to store and recycle energy. These systems have the unique ability to temporarily store a large amount of energy provided by the cyclical nature of wind, solar, and wave type systems.
- In solar photovoltaic applications, battery replacement after every three to seven years is necessary, as they tend to wear out. The use of a supercapacitor eliminates this need for frequent maintenance and replacement. Also, energy efficiency is a key aspect of producing renewable energy, and supercapacitors demonstrate higher charge efficiency than batteries. Over the past few years, there has been an increase in solar powerplants, with several new installed capacities in 2018, driving the market for the renewable energy sector.
- Also, the Utilities are one of the significant end-user markets for supercapacitors. With the rising energy concerns and increasing technological advancement, the adoption of supercapacitors is witnessing a surge, especially in the emerging economies. Like generator bridging, their applications, ramping and regulation, primary frequency response, and voltage sag mitigation, are also providing a grid or microgrid monitoring and stabilization.
- Further, according to the US Energy Storage Monitor Utility, scale energy storage is a nascent, but rapidly growing market, and is expected to reach over USD 1 billion by 2020, in the United States alone; hence, offering a potential market to target for supercapacitors. Additionally, internal backup power is another application emerging in the market. Therefore, with the steadily increasing deployment of smart meters, power backup for electric and gas meters garners more attention.

Asia Pacific Expected to be the Fastest Growing Region

- Asia-Pacific is expected to be the fastest-growing region. The automotive industry has been growing rapidly in China, and the country is playing an increasingly important role in the global automotive market. The Government of China views its automotive industry, including the auto parts sector, as one of its pillar industries. The Central Government of China expects China's automobile output to reach 30 million units by 2020 and 35 million units by 2025.
- The popularity of EVs is growing worldwide, and China is regarded as the dominant adopter of electric vehicles. The 13th Five-Year Plan of China promotes green transportation solutions, such as hybrid and electric vehicles, to advance the country's transportation sector. The country is an early adopter of new technology that supports electric vehicles.
- Further, the electric vehicle market is gaining momentum in India due to its ambitious plans and government initiatives. Public authorities in India have made several electric vehicle-related policy announcements over the past few years, showing strong commitment, concrete action, and significant ambition to deploy electric vehicles in the country.
- Moreover, in Japan, utility providers are incorporating smart electricity meters. The Japanese government has also shifted its focus to demand-side management. There is an increased emphasis on energy security and resiliency through the smart grid and energy efficiency technologies.
- In India, the electric vehicle market is gaining momentum due to the government's ambitious plans and initiatives. Public authorities in the country have made several electric vehicle-related policy announcements over the past few years, showing strong commitment, concrete action, and significant ambition to deploy electric vehicles in the country.

Competitive Landscape
The supercapacitors market is competitive and consists of several major players. In terms of market share, few of the major players currently dominate the market. These major players, with a prominent share in the market, focus on expanding their customer base across foreign countries. These companies are leveraging strategic collaborative initiatives to increase their market share and profitability. There are various mergers, acquisitions, and partnerships in the global supercapacitors markets as big players from the Automotive and electronic sectors enter the supercapacitors mar. Key players are Eaton Corporation PLC, Maxwell Technologies, Inc., etc. Recent developments in the market are -
- December 2019 -- CAP-XX, an Australia based supercapacitor manufacturer and supplier, acquired Murata manufacturing supercapacitor production lines, will produce Murata's three supercapacitor families, and serve its customers from Sydney from Q3 2020. This would help CAP-XX set up a manufacturing facility in Sydney by transferring the Murata production line from japan and access to Murata's affluent customer base in the Asiaa??Pacific region.
- April 2019 -- Ioxus Inc. announced that the 24V uSTART battery support system is now being offered as the heavy equipment industry's only drop-in replacement product that needs no special wiring. Using two group 31 batteries in series, with one 24V uSTART in parallel, users can replace their 4D battery in heavy equipment. This ultracapacitor-based product is designed with smart power electronics to assist in starting engines up to 50 L for large off-road equipment.
- July 2019 -- GTCAP announced a new offering of All-tantalum wet electrolytic capacitors with all sealing structure. The electrochemical performance of the wet electrolytic tantalum capacitor is good. Among all the electrolytic capacitors, wet tantalum capacitors have the smallest leakage current and maximum CU product per unit. The capacity is five times higher than the other capacitors.
- Aug 2019 -- Eaton released the XLR-51 supercapacitor module that extends the XLR module family to 51.3 volts (V) and 188 farads (F). It is ideal for rugged applications with harsh environments, such as transportation, marine, grid storage, and material handling.

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The global Supercapacitors market was valued at USD 487.45 million in 2019, and it is expected to reach USD 1570.75 million by 2025, registering a CAGR of 21.8% during the period of 2019-2025
View original content:https://www.prnewswire.com/news-releases/the-global-supercapacitors-market-was-valued-at-usd-487-45-million-in-2019--and-it-is-expected-to-reach-usd-1570-75-million-by-2025--registering-a-cagr-of-21-8-during-the-period-of-2019-2025--301136751.htmlSOURCE Reportlinker
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