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Supercapacitor Market size surpassed USD 2 billion in 2020 and is anticipated to grow at over 15% CAGR during 2021 to 2027. The industry to foresee growth due to the increasing adoption of industrial robotics and automation technology in the manufacturing sector.
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The industrial robot installation in North America is slated to rise by 17% to nearly 43,000 units while in Europe it is estimated to rise by 8% to around 73,000 units. The increased global penetration of automated robotics solutions in manufacturing facilities will support the demand for supercapacitor through 2027.
The COVID-19 outbreak had a negative impact on the supercapacitor market, resulting in the closure of several capacitors like these and electrode material manufacturing plants. Owing to supply chain interruptions, these manufacturers faced a number of issues including scarcity of raw materials and limited financial support.
Report Coverage | Details |
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Base Year: | 2020 |
Market Size in 2020: | 2 Billion (USD) |
Forecast Period: | 2021 to 2027 |
Forecast Period 2021 to 2027 CAGR: | 15% |
2027 Value Projection: | 5 Billion (USD) |
Historical Data for: | 2016 to 2020 |
No. of Pages: | 250 |
Tables, Charts & Figures: | 245 |
Segments covered: | Type, Electrode Material, Application |
Growth Drivers: |
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Pitfalls & Challenges: |
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EDLC accounted for more than 65% of the supercapacitor market share in 2020 and is projected to witness about 14.5% gains through 2027. The industry growth is driven by several high-end features offered such as low pollution, maintenance-free, long operating life, and high efficiency. Several manufacturers based in the U.S. are emphasizing on developing innovative products with enhanced internal resistance to increase their market footprints.
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The carbon-based material segment in the supercapacitor market held 60% of revenue share in 2020 and is estimated to attain a CAGR of 14% from 2021 to 2027. The market expansion is driven by an increasing demand for high-energy storage capacity in consumer electronics such as smartphones, tablets, and laptops, among others. Several players are focusing on developing high performing materials to serve the growing industry.
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The automotive & transportation sector captured above 35% of the supercapacitor market share in 2020 and is poised to expand at more than 15% growth rate through 2027. The industry progression can be credited to rising government initiatives to support domestic automotive and component manufacturing. The components covered under this scheme include supercapacitor, sensors, electric steering systems, and automatic braking systems, among others.
Asia Pacific region held 45% of market revenues in 2020 and is predicted to register growth of 17% during the forecast period. The market demand is attributed to increasing acceptance of key initiatives in Asian countries, such as China, India, and Japan, to promote the establishment of clean energy power plants.
Key players in the supercapacitor market include KYOCERA AVX Components Corporation, Eaton, Evans Capacitor, and Loxus Inc. These leaders are extensively focusing developing strategic partnerships and acquisitions to spur their product offerings and cater to the market instinct.
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Market, By Type
Market, By Electrode Material
Market, By Application
The above information has been provided for the following regions and countries: