Global Industry Analysis and Forecast 2023-2030
Market Value (2022)
USD 4.78 Billion
Forecasted Value (2030)
USD 20.12 Billion
CAGR (2023 – 2030)
Fastest Growing Region (2023 - 2030)
Double Layer Capacitors, Hybrid Capacitors, Pseudo Capacitors, Others
Automotive, Electronics, Energy, Medical, Aviation, Others
The global Supercapacitor Market was valued at USD 4.78 billion in 2022 and is projected to reach USD 20.12 billion by 2030, growing at a CAGR of 19.68% from 2023 to 2030.
The use of supercapacitors is increasing renewable energy production and there has been significant growth in clean energy construction of renewable energy plants, which propels market growth. It also offers high specific capacitance and electrical stability to effectively maintain microgrids. Supercapacitors are also becoming a dominant technology pitch control application for large wind turbines and the global use of renewable wind energy, which is also accelerating industry development. In addition to this, the increasing demand for newer solar and wind energy applications and the micro demand growth of supercapacitors offer profitable prospects for the further growth of the market. However, factors hindering the market growth is the high start-up cost of materials and limited knowledge of supercapacitors. The manufacturing processes involved in making supercapacitors can be complex and require specialized equipment.
Analyst’s Review on Supercapacitor Market
The development and innovation of supercapacitor technology has been the focus of considerable research and development activities. Researchers have investigated new electrode materials to improve the energy storage capacity and charge-discharge efficiency of supercapacitors. Advances in manufacturing technologies have enabled the development of flexible and portable supercapacitors. These devices can be integrated into clothing, electronic devices, or biomedical applications, which opens up new possibilities for energy storage in portable and flexible electronics, providing lucrative opportunities for market development.
The supercapacitor is an electrochemical energy storage device that bridges the gap between traditional capacitors and batteries. It stores and releases energy through reversible adsorption and desorption of ions at its electrode-electrolyte interfaces. They can quickly produce large bursts of energy, which make them suitable for applications where high power is required. Supercapacitors offer an efficient solution for grid-level energy storage. Due to their ability to absorb and release energy quickly, they can handle charge and discharge cycles more efficiently. Supercapacitors can improve power quality by reducing voltage drops and spikes. They can provide instant power during voltage drops, ensure a stable power supply, and prevent equipment breakdowns or outages. In contrast to batteries, supercapacitors have an extended lifespan and are more dependable as they can withstand thousands or millions of cycles of charging and discharging without decreasing their efficacy.
Supercapacitors have grown increasingly crucial due to the growing need for efficient equipment that generates and transfer electricity in various industries, as well as the rising incidences of power outages. Numerous government agencies are focusing more on implementing stringent policies that reduce carbon dioxide emissions and expand the use of renewable energy sources as a consequence of growing environmental concerns. The demand for high-capacity devices continues to rise as electric vehicles (EVs) become more widespread and renewable energy sources including solar and wind are linked to the grid. As these are able to generate limited amounts of energy, supercapacitors are capable of handling these power needs. They are suitable for applications involving acceleration, regenerative braking, or sudden load changes because they can quickly supply the needed power. They can quickly produce the required power, so they are suitable for applications involving acceleration, regenerative braking, or sudden load changes. As the demand for electricity rises, supercapacitors play a key role in effectively meeting this demand and promoting a more sustainable energy future.
The challenge for researchers is to improve supercapacitors' energy density while maintaining their power characteristics. As supercapacitors' voltage ratings are lower than those of batteries, these devices cannot be used in systems that need more significant voltage levels. Continual charge and discharge cycles in supercapacitors could lead them to deteriorate over time. Supercapacitors are more expensive than conventional energy storage technologies including batteries. The materials utilized, the manufacturing procedures, and the small economies of scale are the primary causes of the high costs. The current difficulties include the creation of stronger, more ecologically friendly materials, enhanced recycling procedures, and a reduction in the usage of poisonous or rare elements. By addressing these issues, supercapacitors would become more viable competitors with other energy sources and increase their efficiency, efficacy, and cost-effectiveness.
The global supercapacitor market is segmented based on type, end-user, and geography.
Based on type, the supercapacitor market is segmented into double layer capacitors, hybrid capacitors, pseudo capacitors, and others. The double layer capacitor segment is expected to dominate the industry over the forecast period owing to its growing applications across consumer electronics such as smartphones, computers, and laptops. Numerous battery manufacturers are broadening their product portfolios in the double-layer capacitors space mainly because these supercapacitors are different from ordinary batteries, which are clean form of energy.
Based on end-user, the supercapacitor market is classified into automotive, electronics, energy, medical, aviation, and others. In 2022, the automotive industry remained the leading segment as it is crucial to provide fuel efficiency, long wait times, capacity stability, and elevated vehicle performance. The development of electric vehicles has raised the demand for supercapacitors in the automotive industry due to their excellent capacity and wide operating temperature range.
Based on region, the global supercapacitor market is classified into North America, Europe, Asia Pacific, MEA, and Latin America.
Asia Pacific is the dominating region on account of the rise in the sales of electric vehicles and the use of electronic double layer capacitors. In addition, the increased use of supercapacitors in the military & defence sector for manufacturing equipment such as laser weapons, rail weapons, heavy mobile vehicles, and increasing investments by many administrative agencies in the region are also fuelling market growth. Supercapacitors are used in many applications, including electric vehicles, renewable energy systems, and consumer electronics, among others across the region. Supercapacitors ought to grow more effectively and have numerous uses in the future with a growing number of developments. The region's requirement for supercapacitors is also being influenced by factors such as the rising value of supercapacitor integration with batteries, a reduction in pollution, and the declining cost of automobiles.
The global supercapacitor market study report will provide valuable insight with an emphasis on the fragmented nature of the industry. Prominent players are focusing on several key business strategies such as partnerships, mergers and acquisitions, product innovations, and joint ventures to expand their product portfolio and increase their respective market shares across different regions. The major players in the supercapacitor market are
- Maxwell Technologies
- Nippon Chemi-Con Corporation
- Sinovoltaics Group Limited
- Skeleton Technologies
- TDK Corporation
- ATX Networks
- KYOCERA AVX Components Corporation
- TTI, Inc.
- May 2023 (Launch): Abracon launched the EDLC-2.7V radial supercapacitor, which has a longer life and eliminates the safety risks associated with lithium batteries. These technology use cases made Abracon ultracapacitors an ideal solution for wireless networks, energy harvesting, cold start motors, microgrids and more.
- September 2022 (Launch): ATX Networks launched the ATX SCE Series Supercapacitor Energy Storage Solutions, which offer significant improvements over alternative standby energy sources. The solution provides suppliers with an ecological, safe, space-saving, and long-life energy storage solution designed to adapt to future infrastructure expansions while increasing reliability and reducing the overall cost of continuous operation.
- August 2022 (Collaboration): Skeleton Technologies collaborated with Siemens to develop its next-generation, curved graphene supercapacitors. Skeleton Technologies planned to establish its second production unit in the German state of Saxony, where it plans to produce up to 12 million cells per year from 2024.
The global Supercapacitor Market is segmented as:
- Double Layer Capacitors
- Hybrid Capacitors
- Pseudo Capacitors
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Middle East & Africa
- North Africa
- South Africa
- Rest of Middle East & Africa
- Latin America
- Rest of Latin America