Supercapacitors/Ultracapacitors Market Definition
The supercapacitors/ultracapacitors market consists of sales of supercapacitors/ultracapacitors by entities (organizations, sole traders and partnerships) that manufacture the supercapacitors/ultracapacitors used in automobiles and electronics products such as premium smartphones, digital cameras and solid-state drives. This market does not include revenues from installation and after sales services related to this equipment. Supercapacitors and ultracapacitors are identical and these terms are often used interchangeably. In this report the term ‘supercapacitors’ stands for supercapacitors/ultracapacitors.
Supercapacitors/Ultracapacitors Market Size
The global supercapacitors/ultracapacitors market reached a value of nearly $ 1.2 billion in 2018, having grown at a compound annual growth rate (CAGR) of more than 30.0% since 2014.
Rapid growth in the electronics industry, increasing popularity of hybrid vehicles, and increased investment in mass rapid transport systems in many developed and developing countries globally contributed to the growth of the global supercapacitors/ultracapacitors market. The supercapacitors/ultracapacitors market is challenged by the availability of low-cost alternatives such as batteries and by rising trade protectionism.
Supercapacitors/Ultracapacitors Market Drivers
The key drivers of the supercapacitors/ultracapacitors market include:
Growth in the Electronics Industry – The rapid growth in the demand for electronics products including laptops and smartphones globally drove the supercapacitors/ultracapacitors market during the historic period. Supercapacitors are generally used in some premium models of smartphones, laptops, digital cameras and various other electronics products. Increased access to the internet globally boosted the demand for smartphones, communication devices, network hardware and computers, thereby increasing the demand for supercapacitors. For instance, in 2017, production for the global electronics and information technology industries was estimated at $2,680 billion, a 3% increase from $2,610 billion in 2016.
Supercapacitors/Ultracapacitors Market Restraints
The key restraints on the supercapacitors/ultracapacitors market include:
Availability of Low-Cost Alternatives – The supercapacitors/ultracapacitors market was limited by the high prices associated with these products and availability of cheaper alternatives such as batteries. For instance, the price of supercapacitors is around $20 per watt, whereas the price of batteries is in the range of $0.5-$1 per watt.
Supercapacitors/Ultracapacitors Market Trends
Major trends influencing the supercapacitors/ultracapacitors market include:
Graphene and Carbon Nanotubes Supercapacitors to Increase Electrical Conductivity – Supercapacitor manufacturers are increasingly using graphene and carbon nanotubes to improve the electrical conductivity of supercapacitors. Carbon nanotubes (CNTs) are cylindrical molecules that consist of rolled-up sheets of single-layer carbon atoms (graphene). CNTs significantly increase power density of supercapacitors as carbon nanotubes have high capacitance and low resistance. Power density is the amount of power transferred per unit volume. For instance, in 2014, researchers at the George Washington University developed a new ultracapacitor with high performance and low cost than traditional supercapacitors, by using graphene and carbon nanotubes. Major companies manufacturing graphene supercapacitors include Skeleton Technology, Angstron Materials and Sunvault Energy.
Collaborations and Partnerships – Supercapacitors and ultracapacitors companies are increasingly collaborating with research institutes, universities, technology companies and other companies in the market to accelerate their research and development programs. For instance, in 2018, Rolls-Royce has signed a collaboration agreement with Superdielectrics Ltd, in partnership with the Universities of Bristol and Surrey, for development in supercapacitor technologies to increase their electricity storage capabilities. Similarly, Versarien signed agreement for Memorandum of Understanding with Warwick Manufacturing Group, for production of power storage devices including supercapacitors by using Versarien’s graphene nano platelets.
Opportunities In Supercapacitors/Ultracapacitors Market
Opportunities – The top opportunities in the global supercapacitors/ultracapacitors market will arise in the transport segment which will gain $1.65 billion of global annual sales by 2023. The supercapacitors/ultracapacitors market size will gain the most in China. Supercapacitors/ultracapacitors market-trend-based strategies include the use of graphene and carbon nanotubes to produce super capacitors, collaborations, use of metal nitrides and investing in supercapicitors. Player-adopted strategies in the supercapacitors/ultracapacitors industry include expansion of product portfolios, expansion through acquisitions, and strategic partnerships.
Supercapacitors/Ultracapacitors Market Segmentation
The supercapacitors/ultracapacitors market is segmented by end user
By End User -
The supercapacitors/ultracapacitors market is segmented by end user
- a) Transport
- b) Electronics and Others
- c) Industrial
- d) Automotive renewables
Transport was the largest segment in the global supercapacitors/ultracapacitors market accounting for 47.7% of the market, worth $0.59 billion in 2018. This was mainly due to the higher price of supercapacitors used in trucks, buses and rail transport systems which use regenerative braking energy capture systems.
By Geography- The supercapacitors/ultracapacitors market is segmented into
- o North America
- o Western Europe
- UK
- Germany
- France
- Spain
- Italy
- o Asia Pacific
- China
- Japan
- India
- Australia
- o Eastern Europe
- o South America
- o Middle East
- o Africa
Asia Pacific is the largest region in the supercapacitors/ultracapacitors market, accounting for 40% of the global total in 2018. It was followed by Western Europe and North America. The fastest growth in the supercapacitors/ultracapacitors market between 2018 and 2023 is predicted for Asia Pacific, where it is expected at grow at a CAGR of 31.3%, followed by North America at a CAGR of 29.9%.
Supercapacitors/Ultracapacitors Competitive Landscape
Major Competitors are:
- • Murata Manufacturing Co., Ltd.
- • Maxwell Technologies, Inc.
- • Panasonic Corporation
- • AVX Corporation
- • ELNA Co., Ltd.
Other Competitors Include:
- • Nippon Chemi-Con Corporation
- • Eaton Corporation plc
- • Ioxus, Inc.
- • Skeleton Technologies OÜ
- • Cellergy Ltd.