Supercapacitor Market

Supercapacitor Market Outlook (2023 to 2033)

The global supercapacitor market is estimated at US$ 2.02 billion in 2023. Worldwide demand for supercapacitors is predicted to increase rapidly at a CAGR of 14.9% and reach a market value of US$ 8.1 billion by the end of 2033.

Growing demand for sources of stable power supply for different applications, including laptops, GPS, etc., is boosting sales of supercapacitors. Further, the rising use of supercapacitors in hybrid vehicles is also anticipated to contribute to the growth of the market over the coming decade.

• Demand for supercapacitors in China is forecasted to accelerate at a CAGR of 5.1% from 2023 to 2033.
• Worldwide sales of hybrid capacitors are predicted to rise at a CAGR of 19.4% through 2033.

Supercapacitors are reliable in offline as well as online meshes and are quite popular. Solar lighting and solar panels are possible areas that are contributing a significant share of the supercapacitors' demand. Increasing awareness among various end users of energy storage equipment to reduce harmful emissions is stimulating manufacturers of supercapacitors to focus on environmental-friendly products.

Several firms are increasing their efforts to reduce greenhouse gas emissions. They are opting for alternative energy technologies. Therefore, a significant increase in requirements for ultracapacitors in the automotive industry is strengthening players’ positions. Rapid charging function, enhanced power density, and better shelf life are some key attributes of high-storage capacitors that make them a feasible option for automobile applications. Further, they are used as a replacement for traditional electric car batteries owing to temperature stability and rapid charging.

Increasing demand for renewable energy systems along with the implementation of various favorable government regulations are predicted to boost sales of supercapacitors over the coming decade. The constant increase in the prices of gasoline is leading to the deployment of rules & regulations that support fuel-efficient and environmentally friendly means of transportation.

A significant increase in the demand for supercapacitors is being seen due to rising awareness about sustainable and hybrid energy storage sources. Growing trend of utilizing solar cells along with biosensors is favoring the outlook of supercapacitors. Moreover, growing use of supercapacitors for wind turbines, trains, electric vehicles, and other devices is also boosting their sales.

Report Attributes	Details
Supercapacitor Market Size (2022)	US$ 1.75 Billion
estimated Market Value (2023)	US$ 2.02 Billion
Forecasted Market Value (2033)	US$ 8.1 Billion
Global Market Growth Rate (2023 to 2033)	14.9% CAGR
China Market Growth Rate (2023 to 2033)	5.1% CAGR
Hybrid Capacitors Segment Growth Rate (2023 to 2033)	19.4% CAGR
Key Companies Profiled	Maxwell Technologies CAP-XX KEMET Corporation Eaton Murata Manufacturing Co. Ltd. AVX Corporation Nippon Chemi-On Panasonic Corporation Blue Solutions LOXUS Inc. FastCAP Ultracapacitors Corporation LS Mtron Tecate Group VINATech Co. Ltd.

Why are Sales of Supercapacitors Increasing at a Rapid Pace?

“Rising Adoption of Electric Vehicles Worldwide”

Increasing adoption of electric vehicles is propelling the demand for supercapacitors. Supercapacitors come with fast charging and high power density. These properties make them a suitable option for application in hybrid and electric vehicles.

Supercapacitors offer the required burst of power at the time of acceleration and enable faster vehicle performance with improved energy efficiency. They are capable of storing and releasing energy during regenerative braking. Further, supercapacitors can capture and store excess energy for further use. These features enhance the overall energy efficiency of vehicles and also reduce the strain on vehicle batteries.

The ability of supercapacitors to operate in extreme temperatures and offer reliability and better performance compared to other batteries is increasing their demand. They can ensure the delivery of high power output during cold weather and thus help in the effective operation of different types of electric vehicles even in diverse climates.

“Rising Focus on Renewable Energy Sources Driving Supercapacitor Sales”

In recent years, various people have been focusing on renewable energy sources such as wind and solar power to match the requirements for effective energy storage solutions. Supercapacitors work as promising alternatives to batteries for energy storage. They provide fast charging capabilities and high power density, which make them an ideal option for regenerative braking, load leveling, and peak shaving applications.

The longer life cycle of supercapacitors reduces the frequent requirements for maintenance and replacement compared to other alternatives.

What is Projected to Restrain the Demand Growth for Supercapacitors?

“Higher Cost of Raw Materials Hampering Market Expansion Opportunities”

Manufacturers need to spend a significant amount on the production of supercapacitors due to the higher cost of raw materials. Further, there is a constant increase in demand for the optimization of electrical parameters to ensure fluent performance, making recurring supercapacitor maintenance an expensive affair.

How are New Companies Establishing Themselves in the Supercapacitor Market?

“Rising Sales of Electric Vehicles a Boon for Start-up Companies”

Several consumers around the world are inclined to use electric vehicles due to rising awareness about their environmental footprints. They are adopting electric vehicles with the aim to contribute to reducing carbon emissions. In addition, specific stringent government rules & regulations are also imposed for environmental safety. Therefore, an increase in demand for electric vehicles is predicted to further widen opportunities for start-ups that are trying to enter the supercapacitor landscape.

Country-wise Insights

How is the United States Market for Supercapacitors Evolving?

“Increasing Focus on Renewable Energy Strengthening Supercapacitor Demand”

Sales of supercapacitors are projected to advance at a CAGR of 12% in North America. The United States is estimated to be the prominent market in the region. Rising adoption of renewable energy in the United States is anticipated to open up lucrative opportunities for suppliers of supercapacitors.

• In March 2020, the International Renewable Energy Agency (IRENA) announced that the United States installed 29 gigawatts of renewables in the same year. This number was more than 80% from 2019. These renewables included 14 gigawatts of wind energy and 115 gigawatts of solar energy.

What is Stimulating the Demand for Supercapacitors in the United Kingdom?

“Expanding Automobile Sector Driving Deployment of Supercapacitors”

Demand for supercapacitors in Europe is predicted to accelerate at 19.4% CAGR and the United Kingdom is anticipated to contribute a significant share of the revenue. Increasing demand for electric vehicles and expanding automobile sector are driving sales of supercapacitors.

Traction for clean energy options, including supercapacitors, is projected to increase due to aggressive targets of the United Kingdom government to reduce carbon emissions. Supercapacitors are expected to operate and perform more efficiently owing to technological improvements that enhance their appeal among enterprises and consumers.

• In January 2021, Ingetam inked an agreement to manufacture supercapacitor storage in the national grid of the United Kingdom.

Which Asia Pacific Markets are Projected to Exhibit High Demand for Supercapacitors?

“Government’s Focus on Developing Electric Vehicles to Match Sustainability Goals”

The Japanese government is working with an aim to sell new cars to be either electric or hybrid models by the end of 2050. The country is intending to offer incentives to boost the development of electric vehicle engines and batteries in the private sector. The government is also aiming to reduce the emission of greenhouse gases from vehicles and therefore focusing on the production of electric cars, which is predicted to have a positive impact on demand for supercapacitors.

“Rising Demand for Supercapacitors from Indian Space and Communication Centers”

Demand for supercapacitors is high in India because of the communication systems that are used in space and telecommunications. Various government and affiliated bodies are making huge investments in developing technology for supercapacitor processing for multiple applications.

Category-wise Insights

Why are Electrical Double Layer Capacitors Preferred Over Other Types?

“Traction for Electric Double Layer Capacitors Due to Their Enhanced Safety Feature”

Growing use of electrical double layer capacitors as an efficient alternative to traditional batteries is predicted to boost their sales across regions. According to a study published by Fact.MR, a market research and competitive intelligence provider, these capacitors are predicted to hold a significant share of the global market revenue stream.

Manufacturers of various types of consumer electronics, including computers, laptops, smart wearables, foldable phones, etc., are replacing conventional batteries with electrical double layer supercapacitors for enhanced safety.

How is the Automotive Sector Contributing to Higher Sales of Supercapacitors?

“Surging Popularity of Electric Cars Boosting Sales of Supercapacitors”

Automotive & transportation, industrial, energy & power, electronics, military & defense, and aerospace & aviation are some prominent end-use industries that are generating demand for supercapacitors. Among these, demand for supercapacitors from the automotive sector is predicted to advance at 7.1% CAGR from 2023 to 2033. The advent of electric cars across geographies is a prominent factor boosting sales of supercapacitors.

Several manufacturers around the world are adopting electric vehicles, powered by supercapacitors. Increased use of supercapacitors due to their wide operating temperature range and high scalability is driving growth in the market.

Key Market Players

Manufacturers that are deeply rooted in the market are focusing on ensuring quality control of products, maintaining product standards, etc. There are a lot of participants that are operating in a moderately competitive landscape. Well-established and long-standing firms are investing at a significant rate due to the increasing competition among industry players, which is helping them to establish their positions in the market.

For instance :

• In August 2022, Kyocera AXA released its pouch-style product line of supercapacitors, which can be utilized by end users as a popular stand-alone power source for different types of systems. They can also take the place of batteries in certain cases.
• In 2019, Tesla purchased Maxwell Technology but sold the same brand and supercapacitor technology after two years in July 2021.

Key players in the supercapacitor market are Maxwell Technologies, CAP-XX, KEMET Corporation, Eaton, Murata Manufacturing Co. Ltd., AVX Corporation, Nippon Chemi-On, Panasonic Corporation, Blue Solutions, LOXUS Inc., FastCAP Ultracapacitors Corporation, LS Mtron, Tecate Group, and VINATech Co. Ltd.

Segmentation of Supercapacitor Industry Research

• By Type :

  • Electrical Double Layer Capacitors
  • Pseudo-capacitors
  • Hybrid

• By End Use :

  • Automotive & Transportation
  • Industrial
  • Energy & Power
  • Electronics
  • Military & Defense
  • Aerospace & Aviation

• By Region :

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa