Portland, July 07, 2020 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global supercapacitor market generated $3.27 billion in 2019, and is estimated to reach $16.95 billion by 2027, registering a CAGR of 23.3% from 2020 to 2027. The report offers an extensive analysis of current market dynamics, top winning strategies, business performance, major market player’s analysis, and competitive landscape.
Rise in demand in automotive applications, increase in demand for renewable energy systems, and supportive government regulations drive the growth of the global supercapacitor market. However, high costs of raw materials and low awareness hinder the market growth. On the other hand, increase in the demand for supercapacitor in solar and wind energy applications creates new opportunities in the coming years.
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Covid-19 scenario:
- During the coronavirus pandemic, the operational restrictions on the manufacturing activities would take place due to shortage of raw materials.
- Moreover, the demand for supercapacitors has been decreased during the Covid-19 pandemic due to the restrictions on activities in the automotive, industrial, and consumer electronics sectors.
The report offers a detailed segmentation of the global supercapacitor market based on product type, module type, material, application, and region.
Based on product type, the pseudocapacitors segment contributed to the largest share in 2019, accounting for nearly two-fifths of the total share, and is estimated to maintain its dominant position during the forecast period. However, the hybrid capacitors segment is expected to register the highest CAGR of 25.0% from 2020 to 2027.
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Based on module type, the 10 volts to 25 volts modules segment accounted for the largest share in 2019, holding nearly one-third of the total share, and is expected to maintain the largest share throughout the forecast period. However, the above 100 volts modules segment is estimated to portray the highest CAGR of 27.2% during the forecast period.
Based on region, Asia-Pacific contributed the highest share, accounting for nearly half of the total market share in 2019, and will maintain its dominance throughout the forecast period. Moreover, the same region is expected to grow at the highest CAGR of 24.5% from 2020 to 2027. The research also offers detailed analysis of regions including North America, LAMEA, and Asia-Pacific.
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Leading market players analyzed in the research include AVX Corporation, Cap-XX Limited, Panasonic Corporation, Nippon Chemi-Con Corporation, SPEL Technologies Private Limited, Ioxus Inc., Skeleton Technologies, Evans Capacitor Company, LS Mtron Ltd., and KORCHIP Corporation.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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