According to the research report titled ‘Global Electric Double-Layer Capacitor (EDLC) Market Size study with COVID-19 impact, by Type (Radial Style EDLC, Cylindricality EDLC, Button Style EDLC, Others), by Application (Transportation, Consumer Electronics, Electricity, Military and Aerospace, Others) and Regional Forecasts 2020-2027’, available with Market Study Report, global electric double-layer capacitor market recorded a valuation of USD 980 million in the year 2019 and is expected to grow with a CAGR of 21% between 2020 and 2027.
 

Growing demand for sustainable sources of energy coupled with strict government regulations regarding the reduction of carbon emissions are key factors driving the growth of global electric double-layer capacitor market.
 

In fact, according to Carbon Brief, the Government of India has vowed to reduce the carbon emission levels by 33-35% and improve its sustainable energy capacity by 40% by the year 2030. Similarly, as per Electric Vehicle Initiative, Japan’s automotive sector is focusing on lowering greenhouse emission levels by 80% by the year 2050.
 

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For those uninitiated, EDLC (electric double-layer capacitor) is an energy storage device that has better capacity as compared to conventional batteries or capacitors. The product comprises of two plates divided by electrolytes. It has improved durability and offers quick-charging properties.
 

EDLC devices are known to produce high capacitance values in farads instead of in microfarads or picofarads, which in turn is positively influencing worldwide electric double-layer capacitor industry dynamics. However, high costs of the product and inadequate scalability may hamper the industry remuneration in the upcoming years.
 

The unexpected outbreak of COVID-19 pandemic has adversely impacted energy storage companies, owing to fluctuating raw material prices as well as inefficiency in revenues, production, and supply processes, which could negatively affect the global electric double-layer capacitor industry outlook.
 

From the regional point of view, Asia-Pacific currently holds the largest share of global electric double-layer capacitor industry and is predicted to witness consistent growth throughout the forecast period. Factors such as growing demand for consumer electronics along with increasing production as well as sales of electric vehicles are facilitating the business scenario in Asia-Pacific.
 

Samwha Capacitor Co. Ltd., KEMET Corporation, Supreme Power Solutions Co. Ltd., Elna Co. Ltd., AVX Corporation, Nippon Chemi-Con Corp., LS Mtron Ltd., Ningbo CRRC New Energy Technology Co. Ltd, Panasonic Corporation, and Maxwell Technologies are the key participants in global electric double-layer capacitor industry.