Supercapacitor Market Size, Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trend, Competitive Market Share & Forecast, 2021 – 2027
Report ID: GMI3732
Supercapacitor Market size will rise exponentially in the projected timeframe led by advancements and increasing demand from the automotive and consumer electronics industry to provide backup power for two-wheelers, wireless communication, GPS navigation, and video calling. Consumer electronics such as laptops and smartphones require long power back up that is fulfilled by supercapacitors. There is an increase in the demand for supercapacitors globally due to their dynamic properties including a large amount of energy storage and high-capacity electrochemical capacitance and the capability to offer back up power to components such as PC cards, RAM, microcontrollers, etc.
The growth of the supercapacitor market is also boosted by the upheaval of storage systems with a rise in market segments such as smart grids, renewable energy systems, and hybrid electric vehicles (HEV). Increasing investments in renewable energy owing to the need for environmental protection and achieve sustainable goals will further drive the supercapacitor market. In 2019, Tesla acquired Maxwell Technologies for USD 200 million for its supercapacitors to be used in electric vehicles. These devices have the capability to charge and instantaneously discharge over other lithium batteries, which is a driving factor for industry growth. The components of these products are different from a conventional capacitor as they offer high energy density and high capacitance. These attributes facilitate these technologies as a steadily growing market. Conventional capacitors do not store energy and have low power density. This product overcomes the drawback as it offers users with a higher storage capacity of discharge voltage, driving the demand for the supercapacitor market.
Rapid advancements in technology and fast evolving green energy systems are trending in the supercapacitor market. The growing adoption of carbon nanotube and graphene supercapacitors is highly gaining traction in the global market. The combination of graphene and nanotubes to build supercapacitors and batteries having properties such as lightweight, elasticity, and high mechanical strength will enhance the performance in the consumer electronics and vehicles industry. Micro supercapacitors are used as miniature storage devices that enable autonomous and sustained operations of electronic devices. Development of high energy density supercapacitors is an opportunity for the market growth.
The transportation sector has also given a boost to the supercapacitor market, since in developed economies including the U.S., China, Japan, France. etc., the demand for electric trains and vehicles is growing. With the ability of quick charging and temperature stability, supercapacitors are replacing traditional electric car batteries. Additionally, supercapacitors are flexible than normal batteries and high demand for stable power supply for applications such as GPS, portable media players, laptops, mobile devices, etc. is an emerging trend in the market.
High costs of purchasing this equipment are hindering the supercapacitor market growth. For instance, the cost per watt hour of the product is more than 10 times the standard Li-ionized batteries available. It’s expected that the purchase costs of components will decline with a gradual increase in usage of the product. This product discharges voltage in a linear manner. Supercapacitor rated at 4V at 75% charge will discharge only 75% of its maximum charge voltage. Wireless products, such as smartphones, require a power supply for longer duration and are detrimental to the expansion of the market.
The healthcare sector is one of the spearheading sectors for the expansion of the supercapacitor market as it requires an uninterrupted power supply to tend to critical patients and use double-layered capacitors. These products can be useful in IoT edge systems as they can provide a secondary supply of power required in cases where the primary battery source fails such as prolonged usage and power surge. Additionally, these products can also be used as the primary source of power for the IoT systems. The market also facilitates the functioning of smart grids. Smart grids are prominently used to control the production and distribution of electricity. For a reliable and stable supply of power, nations across the world are expanding the usage of smart grids.
The hybrid vehicles segment is anticipated to witness high growth in the coming years due to high adoption of eco-friendly vehicles in Japan, China, and the U.S. The companies are preferring to use these devices as alternate energy storage for electric vehicles. A hybrid vehicle turns off the engine when the vehicle is halted and very efficiently starts it up by using the energy stored in hybrid capacitors. EDLC (electrically double-layered capacitors) are highly efficient in recharging the energy quickly and discharging it at a slow and uniform rate. EDLC finds applications in elevators, healthcare sector, railroad vehicles, and heavy-duty construction equipment due to the reliable discharge of power supply. The supercapacitor market is projected to grow in the electronics consumer market by applications of pseudo-capacitors. Psuedo-capacitors have been identified to be suitable for less heavy-duty products such as laptops and other handheld wireless devices.
North America holds the largest market share in the supercapacitor market and is expected to dominate the market over the forecast period. Transition to sustainable technologies, such as electric vehicle adoption, and the growing investment in renewable energy in the U.S. and Canada will fuel the growth potential of the market. The supercapacitor market is at the nascent stage and is expected to exhibit exponential rate in the Asia Pacific region during the forecast period. The increasing amount of business investments in this region anticipated to increase industry growth. The presence of manufacturing consumer electronics and automotive firms in China, Japan, and South Korea has increased the consumption of supercapacitors in this region.
The players operating in the supercapacitor market include Maxwell Technologies, Korchip Corporation, Panasonic Corporation, Niching Corporation, Rubycon Corporation, Elna Ltd, Kemet Co, Vishay Intertechnology, Skeleton Technologies, and Loxus. INC. Vendors are required to focus on collaborations, strategic partnerships, mergers, and acquisitions to sustain the market growth. In April, Skeleton Technologies invested USD 28 million in a new plant in Germany for increasing the production of supercapacitors. The company will further advance its R&D, contributing significantly to the market.
Supercapacitor market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD million from 2015 to 2025 for the following segments:
Supercapacitor Market by Application
- Consumer Electronics
Supercapacitor Market by Product
- Hybrid Capacitor
Supercapacitor Market by Type
- Supercapacitor Module
- Supercapacitor Weldable Cell
- Board Mounted Supercapacitor
The above information has been provided for the following regions and countries:
- North America
- Asia Pacific
- South Korea
- Latin America
- Middle East & Africa (MEA)
- Saudi Arabia
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