The Global Supercapacitor Market was worth US$ 3.83 billion in 2023 and is anticipated to reach a valuation of US$ 14.57 billion by 2032 from US$ 4.44 billion in 2024, and it is predicted to register a CAGR of 16% during the forecast period 2024-2032.
A supercapacitor is an electrochemical energy storage device that stores and releases energy by reversible ion adsorption and desorption at electrode-electrolyte interfaces. Supercapacitors, also known as ultracapacitors, are capacitors that can store 10 to 100 times the power of typical electrolytic capacitors and are utilised for rapid charge and discharge since they are so small have no resistance. Supercapacitor circuits are utilised as supplements to standard batteries that can also be employed for short-term back-up supplies, since supercapacitor circuits help with uninterrupted power supply in the electronic device taxonomy.
China announced plans to add more than 30 gigawatts of energy storage capacity by 2025, according to the state planner, in order to increase renewable energy usage while keeping the electric grid stable. In addition, novel energy storage refers to electricity storage techniques that use electrochemical, compressed air, flywheel, and supercapacitor systems, as opposed to pumped hydro, which uses water kept behind dams to generate electricity as needed.
Major corporations are increasing their efforts to minimise greenhouse gas emissions, indicating that the market for alternative energy solutions is growing. Supercapacitors are the least harmful to the environment of all energy storage devices. In an electrochemical double-layer capacitor, all of the components are constructed of easily biodegradable carbon.
The surge in demand for supercapacitors in automotive applications is a major driver driving the supercapacitor market's growth. Supercapacitors are suitable for automotive applications due to their long shelf life, high power density, and fast charging capability.
In addition, the market is predicted to develop due to rising demand for renewable energy systems and favourable government policies. Governments have enacted legislation to promote ecologically friendly and fuel-efficient modes of transportation as a result of the long-term rise in global gasoline costs.
However, the market's growth is expected to be hampered by high initial material prices and a lack of understanding of supercapacitors. Supercapacitors are also commonly used in solar and wind energy applications due to their long operational life. Furthermore, future expansion of the supercapacitor sector is likely to be aided by an increase in demand for micro supercapacitors.
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REPORT METRIC |
DETAILS |
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Market Size Available |
2023 to 2032 |
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Base Year |
2023 |
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Forecast Period |
2024 to 2032 |
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CAGR |
16% |
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Segments Covered |
By Product Type, Module Type, Material, Application, and Region. |
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Various Analyses Covered |
Global, Regional, and country-level analysis; Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview of Investment Opportunities |
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Regions Covered |
North America, Europe, APAC, Latin America, Middle East & Africa |
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Market Leaders Profiled |
Nippon Chemi-Con Corp, Panasonic, Eaton Corporation, Cap-XX Limited, SPEL Technologies Private Limited, IOXUS Inc., Skeleton Technologies, Evans Capacitor Company, and Others. |
In terms of revenue, the pseudo capacitors segment dominated the market in 2021, and this trend is likely to continue over the forecast period.
In 2021, the 10 volts to 25 volts modules category had the most market share, while the over 100 volts modules segment is predicted to grow at the fastest CAGR between 2021 and 2027. This module is a basic but very handy module that reduces any input voltage by a factor of ten using a potential divider. This enables you to use a microcontroller's analogue input to monitor voltages far higher than it is capable of perceiving. You may measure a voltage up to 25V using the 10-25V analogue input range. The module also has simple screw connections for connecting wires quickly and securely.
Activated carbon holds a significant market share in the Supercapacitor Market, with a CAGR of 23.01 percent throughout the projection period. Activated carbon is mostly used in batteries. Activated carbon is a low-cost material with distinct characteristics such as a large specific surface area, high porosity, and appropriate surface functionalization. Because of its enormous surface area, polymodal but mainly microporous porous structure, high adsorption capacity, and variable surface chemical composition, activated carbon is the most adaptable adsorbent.
The Automotive sector has the largest market share and is expected to grow at the fastest rate of 20.19 percent over the forecast period. The application section of the supercapacitors market is dominated by automotive. To lower the weight of structures while increasing their strength, this application is exploring for innovative lightweight materials and manufacturing technologies. This requirement is in line with environmental protection policies as well as the desire to reduce energy consumption.
The Asia-Pacific region accounted for the greatest share of the global market, owing to an increase in the automotive industry and expansion in the electronic sector in China and India, which have fueled the supercapacitor industry's growth in recent years. Furthermore, Japan is moving toward electric automobiles. Toyota, the country's largest automobile manufacturer, teamed up with Mazda to develop electric vehicle technology for electric vehicles such as minivans, passenger cars, SUVs, and light trucks. This meets the increasing need for supercapacitors.
The need for supercapacitors in big and mid-sized automotive sectors has supplemented the rise for supercapacitors in North America, which was the second largest contributor in terms of revenue and is likely to see considerable increase over the projection period.
After North America, Europe has the largest proportion of the global market. Germany and the United Kingdom are building electric firms for the purpose of biotechnology research. The market for supercapacitors is being boosted by increased financial support for manufacturing and inventions.
Due to the poor financial status and budget in countries like Kuwait and the United Arab Emirates, the Middle East and Africa maintain a moderate share of the industry, and market growth is likely to remain constant in the next years.
The DKG family of Radial Lead Type Supercapacitors was created by Nippon Chemi-Con Corporation. In comparison to the DKA Series' radial lead type supercapacitors, the new products can handle higher voltage and have a smaller size. New capacitors' rated voltage was increased to 2.7V from 2.5V, and their size was reduced by up to 20%.
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