Key Highlights
The advanced capacitors market generated a value of USD 4,427.2 million in 2023, which will increase to USD 10,018.5 million, powering at a 12.7% CAGR, by 2030.
Energy is necessary to uphold the existence of contemporary society, while its extreme consumption resulted in the rising greenhouse effect.
The dependence on rechargeable batteries as well as capacitors for different applications has been growing rapidly in the last few years.
Improved types of transmitter and sensor systems are being employed to guarantee greater performance.
Supercapacitors have many benefits in terms of efficient charged discharge cycles, weight, wide operating temperatures, and low maintenance.
The reliance on fuel is very high globally because of the high level of urbanization as well as economic expansion.
The count of vehicles produced and sold yearly has been observing a continuous increase as people are focused on enhancing their lifestyles.
Vehicle electrification is the main initiative being taken to decrease the reliance on fossil fuels while taking into consideration the connected environmental worries.
Innovative technologies are being introduced to enhance the effectiveness of vehicles while preserving comfort for the passengers and driver.
Key Insights
- In 2023, APAC accounted for the largest contributor to the industry, and it will further advance at a 15% compound annual growth rate in the coming years.
- This is because of the increasing utilization of HEVs and BEVs, the presence of many automakers, and the acceptance of the latest automotive technologies, in this region.
- The rising sales of automotive in this region can be attributed to the shifting lifestyles.
- Individuals are more eager than ever to purchase personal automobiles for easier mobility. Thus, the average distance traveled by light-duty automobiles has been observing a surge in the last few years.
- The double-layer capacitors category accounted for the largest share of the industry in 2023, of 60%, and it is likely to remain the largest throughout this decade.
- This is mainly because of the extensive utilization of these types in hybrid electric vehicles.
- The promise of double-layer capacitors to replace or complement traditional batteries in some applications boosts their acceptance.
- They charge quicker than batteries, possess a great power density, and have a greater life cycle.
- The carbon category will be the largest contributor to the industry, and grow at a 14% CAGR, in the coming years.
- This is mainly because of the greater electrical possessions of improved capacitors with carbon electrodes.
- A substantial portion of the price related to advanced capacitors can be attributed to the active carbon material obtained from char, which is a byproduct of the partial combustion of natural oils and gas, and biochar products.
- Biochar is created via the pyrolysis of biomass sources, with coconut shells presently being employed as the main material.
- The automotive category is likely to be the highest revenue contributor in 2030, with USD 4 billion.
- Manufacturers are constantly trying to develop new technologies to guarantee the smooth running of automobiles.
- They are showing an increasing interest in developing electrified versions of their traditional automobiles in the years to come.
Source: P&S Intelligence
