According to the research report titled ‘Global Supercapacitor Market Size study, by Type (Electric Double-layered Capacitors, Pseudo capacitors, Hybrid Capacitors), by Electrode Material (Carbon-Based Supercapacitors, Metal Oxide Based Supercapacitors, Conducting Polymer Based Supercapacitors, Composite-Based Supercapacitors), by Application (Automotive, Energy, Consumer Electronics, Medical, Aerospace & Defense, Others) and Regional Forecasts 2020-2027’, available with Market Study Report, global supercapacitor market was appraised at USD 365 million in the year 2019 and is estimated to record a 12% CAGR during 2020-2027.
 

Growing utilization of the product in vehicles such for burst-mode power delivery, short-term braking, and regenerative braking is one of the key factors driving the growth of global supercapacitor market. High demand for supercapacitors from applications such as flashlights, battery back-up, batteries, and solar power is also adding traction towards the overall market size.
 

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A supercapacitor is basically device that has high capacity than an electrolytic capacitor. Also known as a ultracapacitor, the product is extensively used as an energy storage unit and can endure regular discharge cycles during shorter and longer intervals. These advantageous attributes associated with the product are thus stimulating global supercapacitor industry outlook.
 

Proliferating electric vehicle sales, rising adoption of supercapacitors in smart wearables, and growing demand for renewable sources of energy are also favoring the overall market outlook. On the contrary, high cost of the product could hamper the industry remuneration in the upcoming years.
 

The outbreak of COVID-19 could also hinder the growth of global supercapacitor market owing to the imposition of lockdown which has significantly hampered the electronics, energy, and automotive sectors.
 

Based on regional landscape, the report states that North America presently accounts for the largest market share and is expected to experience consistent growth during the estimated timeframe. Growing demand for medical devices coupled with surging investments towards development of renewable energy plants are facilitating the business scenario in North America.
 

Meanwhile, Asia-Pacific is likely to emerge as a major revenue generator for global supercapacitor market in the upcoming years, owing to rapid industrialization, increasing infrastructural development growing demand for electric vehicles and consumer electronics.
 

The competitive landscape of global supercapacitor market is defined by companies such as Skeleton Technologies OÜ, NAWATechnologies, Ioxus Inc., Cornell Dubilier Electronics Inc., Eaton Corporation Inc., Tesla Inc. (Maxwell Technologies), Panasonic Corp., Nippon Chemi-Con Corporation, LS Mtron Ltd., and CAP-XX among others.