A growth rate of 19.85% has been forecast for the supercapacitor market through 2016, aided by the need for an environmentally friendly fuel source and the increasing disparity in supply and demand balance of fossil fuel.
An emerging energy storage solution that bridges the gap between conventional capacitors and rechargeable batteries, supercapacitors will grow based mainly on adoption in transportation applications like hybrid buses and micro-hybrids.
Supercapacitors provide an excellent method to store energy and burn it in eco-friendly manner. The extraction, distribution, and burning of fossil fuels have resulted in environmental degradation, emission of greenhouse gases, and depletion of natural resources.
The growing population and the increasing need for fossil fuels for energy generation have resulted in the deterioration of the ecosystem. This in turn has increased awareness among people to find a better, sustainable, and eco-friendly source of energy.
In this regard, supercapacitors provide an ideal alternative energy source for automobile manufacturers to power their vehicles other than fossil fuels.
One of the major challenges in this market is the lack of supporting infrastructure. Disruptive innovations like supercapacitors can only be implemented only if they are backed by proper supporting infrastructure. For instance, the usage of supercapacitors in the Automotive industry needs to be backed by the presence of many charging stations for supercapacitor-powered vehicles.
The number of developers and manufacturers of supercapacitors, also called ultracapacitors, is rising very rapidly, having doubled from 40 to 80 in the last few years. All are taking some business, so Maxwell, the current market leader, is losing market share.
Additional players helping to drive growth within this market space include Nippon Chemi-Con Group, Nesscap Energy Inc., and Panasonic Electronic Devices Co. Ltd.
For more information on the supercapacitors market, see the latest research: Supercapacitors Market
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