Supercapacitor Market in North America is anticipated to generate the largest revenue by 2024

A supercapacitor comprises of capacitance value that is higher than that of traditional capacitors. These can accept and deliver charge faster than that of the batterers. Moreover, supercapacitors are used in applications requiring rapid charge cycles. Supercapacitors are used in electric vehicles cars and buses and also in elevators along with the applications that involve the evolving charge cycle. There has also been an increase in the demand for supercapacitors in renewable energy storage solutions across the globe thereby driving the demand of the supercapacitor market globally. 

There are three types of supercapacitor products pseudocapacitors, double layer supercapacitors, and hybrid capacitors. Among all these segments, a double layer supercapacitor occupies a larger share in the supercapacitor market across the globe. Double layer supercapacitor has extensively uplifted the demand in portable electronic devices, bulk electricity storage at power stations, and electric vehicles. Furthermore, increasing accessibility and adoption of double-layer supercapacitors are thereby bolstering the growth of the supercapacitor market globally. 

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Increasing development in supercapacitors, extensive application of supercapacitors in automobiles and elevators, and increasing demand of supercapacitors for renewable energy storage solutions are some of the key factors attributing towards the bolstering demand of supercapacitor market globally. Electronic vehicles and hybrid vehicles use supercapacitors to store the energy lost while braking. Moreover, an increase in the popularity of zero engine idling and pollution control and efforts towards reduction of the operating cost of vehicles are thereby pertaining towards the growth of the supercapacitor market in the automotive domain. 

Geographically, the supercapacitor market in North America is anticipated to generate the largest revenue by 2024 due to increasing awareness and accessibility of supercapacitor systems in this region.  Furthermore, the increasing demand for supercapacitors from the industrial domain in this region is further attributing towards the growth of the supercapacitor market in this region. Moreover, supercapacitor market in Asia-Pacific is anticipated to witness the fastest growth during the forecast period due to the booming supercapacitors marketplace and the presence of well-established players across the region. 

Key players in supercapacitor market are investing in improving the quality of developing the latest technologies that are strengthening their position in the market.  However, it has been observed that local players are depending upon new technology to develop cost efficiencies and gaining a competitive edge. The prominent players in the supercapacitor market include Murata Manufacturing Co., Ltd, Ioxus Inc., LS Mtron, Panasonic Corporation, Maxwell Technologies Inc., Nippon Chemi-Con Corporation, Nesscap Co., Ltd, NEC TOKIN Corporation, Elna Co. Ltd, Seiko Instruments Inc., and KORCHIP Corporation. 

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