Market Forecast (2011-2021)
According to ElectroniCast, the consumption value of LICs in wind power generation is forecast to reach over $150 million in 2021…
ElectroniCast Consultants, a leading market & technology forecast consultancy, recently announced their market forecast of the worldwide consumption of lithium-ion capacitors (LICs) used in wind power (wind turbines) generation.
ElectroniCast estimates that in 2011, the worldwide consumption value of lithium-ion capacitors used in wind power generation applications was less than $1 million. From 2016-2021, the total consumption value is forecast an increase nearly 80 percent per year, reaching over $150 million in the year 2021. Market forecast data in this study report refers to consumption for a particular calendar year; therefore, this data is not cumulative data.
A capacitor is an electrical device that stores or releases electricity through rapid electrostatic reactions. Compared with a battery that stores electricity through slow chemical reactions, a capacitor makes it possible to charge and discharge electricity almost instantaneously with a long cycle life.
Lithium-Ion Capacitors (LICs) have a higher power density as compared to batteries and they are safer in use than Lithium-Ion Batteries (LIBs), since thermal runaway reactions may occur with LIBs. Compared to an Electric Double-Layer Capacitor (EDLC), the lithium-ion capacitor has a higher output voltage. They both have similar power densities, but energy density of a lithium-ion capacitor is higher.
Wind power is the conversion of wind energy into a useful form of energy, such as using wind turbines to make electricity. In relationship to the use of lithium-ion capacitors, this ElectroniCast study deals mostly with small-scale wind power, which is the name given to wind generation systems with the capacity to produce up to 100 kW of electrical power.
The future of the lithium-ion capacitor (LIC) market, despite exciting innovative devices driven by technological advances and ecological/energy-saving concerns, still face challenges in overcoming performance/price limitations and in attracting widespread consumption. The use of LICs in wind power generation applications is increasing, initiating from government-based initiative – then to commercial/business – and eventually to the consumer-level.
The ElectroniCast market forecast of consumption is presented for two major End-User categories: Government/Commercial and Residential/Non-Specific (Other). The Government/ Commercial category is forecast to maintain its market leadership role during the forecast period, with 91% of the worldwide market in 2011 and eventually falling to 73% as Residential/Other applications begin using the (new) solution. There are many different sources of energy (coal, nuclear, natural gas, hydro, oil), therefore, the use of wind turbine-based products, as well as other alternative or renewable energy solutions (naturally replenished) are constantly striving to serve the needs of consumers.
For detailed information on this or other services provided by ElectroniCast, please contact Theresa Hosking, Marketing/Sales; email@example.com
ElectroniCast Consultants – www.electronicast.com specializes in forecasting trends in technology forecasting, markets and applications forecasting, strategic planning and consulting. ElectroniCast Consultants, as a technology-based independent forecasting firm, serves industrial companies, trade associations, government agencies, communication and data network companies and the financial community. Reduction of the risk of major investment decisions is the main benefit provided. ElectroniCast Consultants’ goal is to understand the challenges and opportunities facing clients and to provide timely, accurate information for strategic planning.