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Supercapacitor Market worth over $5bn by 2027

  • Published Date: January 3, 2022

Supercapacitor Market size is set to surpass USD 5 billion by 2027, according to a new research report by Global Market Insights Inc.
 

The market growth is attributed to the increasing adoption in smart home technology products across the globe. It is widely integrated into smart home appliances such as electrical control systems, smart HVAC systems, home theatre systems, smart door lock systems, intercom systems, and sweeping robots, among others.
 

Supercapacitor offers several benefits such as high conductivity, low energy seepage, and long lifecycle, increasing its acceptance in the market. The smart home products are expected to generate a revenue of USD 15 billion in the U.S. with a y-o-y growth rate of 11% compared to 2020. Adding to this, the proliferation of IoT and AI-based smart home technology products are poised to support the market expansion during the forecast period.
 

High technical issues, such as low energy density and large footprint associated with supercapacitor, is a major factor limiting the market progression. Manufacturers are facing high initial costs for raw materials and installation fees, which is reducing the market demand. Furthermore, they have a high self-discharge rate in consumer electronic devices, hampering industry growth. However, researchers are experimenting with newer raw materials, such as graphene and activated carbon compounds, which is predicted to lower the impact in the coming years.

 

Technological advancements in hybrid supercapacitor technology to positively impact the market value

U.S. Supercapacitor Market Size, By Type

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The hybrid capacitor type segment accounted for 25% of the market share in 2020 and is projected to witness 17% growth rate through 2027. The growth is driven by the numerous advantages offered such as high energy density, high voltage, and quick charge capacity. Several researchers are engaged in technological advancements to strengthen the performance of super and ultracapacitors.

 

Browse key industry insights spread across 250 pages with 215 market data tables and 30 figures & charts from the report, “Supercapacitor Market Size By Type (Electrostatic Double-Layer Capacitor (EDLC), Pseudo-Capacitor, Hybrid Capacitor), By Electrode Material (Carbon-based Supercapacitor, Metal Oxide-based Supercapacitor, Conducting Polymer-based Supercapacitor, Composite-based Supercapacitor), By Application (Consumer Electronics & Home Appliances, Automotive & Transportation, Energy & Utilities, Industrial, Aerospace & Defense), COVID-19 Impact Analysis, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2021 – 2027” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/supercapacitor-market
 

Rising usage of metal oxide-based supercapacitor in EV batteries and fast charging stations will spur the market revenue

The metal oxide-electrode material segment held 25% of revenue share in 2020 and is estimated to attain a CAGR of 18% till 2027. The growth is credited to several high-end features offered such as high energy, improved conductivity, peak electricity resistance, and low-cost installation compared to polymer and carbon-based devices. These features have prompted EV battery manufacturers to incorporate metal-oxide capacitors in order to maintain power density and ensure the safety of electronic systems in electric vehicles and charging stations.
 

Increasing demand for safe and undisturbed power supply in power grids to impel the industry expansion

The energy & utilities segment in the supercapacitor market exceeded USD 500 million in 2020 and is anticipated to expand at more than 18% CAGR till 2027. The growth is owing to its rising adoption in microgrid energy storage devices for safe and undisturbed power supply. The integration of supercapacitor into microgrids offers several advantages such as smooth power transition, high peak handling, improved power quality, and high electricity capacitance.
 

Several major grid system manufacturers are integrating super-capacitors to improve the power density and performance of their devices. For instance, in August 2021, Hitachi ABB Power Grids announced the launch of the new SVC-based energy light, a grid stabilization solution. The new solution includes advanced capacitors, which can store hundreds of megawatt-seconds of energy and release them in milliseconds when disturbances occur, decreasing the need for conventional power plants. Such new product launches and incorporation will add lucrative advantages for the industry demand.
 

Favorable government investments to support the technological advancement in North America will accelerate the industry value

North America supercapacitor market is slated to attain a CAGR of over 14% CAGR from 2021 to 2027 led by the rising government initiatives to support the regional aerospace sector. The government is aiming to fund the green energy and aviation projects for long-term sustainable development. Also, the rising integration of super-capacitors into intelligent storage devices to deliver high peak current in aviation ignition systems, separation systems, and actuators will further boost the industry revenue in the region.
 

Key players operating in the market include SPEL Technologies Private Limited, Supreme Power Solutions, Vishay Intertechnology, Inc., Würth Elektronik GmbH & Co. KG, TDK Corporation, TAIYO YUDEN CO., Ltd. These companies are constantly engaged in new strategies such as new product launch in order to expand their product offerings and meet the high demand.
 

Authors: Preeti Wadhwani, Prasenjit Saha