Supercapacitors: Automotive & Transportation Sector Fastest-Growing Market

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The global market for supercapacitors is the largest, as also the fastest growing, in Asia-Pacific

The Automotive & Transportation sector is expected to be the fastest-growing market for Supercapacitors, the global demand for which is anticipated to compound annually at 16.6 per cent during 2019-2026 in reaching a projected US$2.7 billion by 2026.

The report read, “The overall global market for Supercapacitors, as per Research and Markets, is expected to exceed US$3 billion in 2020. The global market for supercapacitors is the largest, as also the fastest growing, in Asia-Pacific.”

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However, the adverse impact upon every industry caused by the Covid-19 outbreak in China in December 2019 has left its mark on the demand for supercapacitors also. While before the incidence of this pandemic the market for supercapacitors presented a rosy picture, with high double-digit growth rates in the range of 25 to 35 per cent, these trends would now be difficult to sustain.

Countries across the globe are facing challenging medium-term futures and recovery could take anywhere from one to three years, again based on what the trajectory of a particular region’s economy was before this devastating outbreak.

Western Europe and the United States seem to have been more badly affected than Asian regions, though it is still early days as far as any abatement of the contagion is expected. However, many countries have now started opening up their industrial activity in a bid to revive sagging markets and hopefully others, too, would join in and make this a concerted effort.

A supercapacitor differs from the ordinary capacitor as it offers a relatively higher energy density and capacity. At the same time same time it also offers a higher power density. These characteristics make it a convenient power source for devices that require high power and durability of the power unit.

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