Supercapacitor Market

Market Overview:

The global supercapacitor market size reached USD 5.3 Billion in 2023. Looking forward, IMARC Group expects the market to reach USD 27.7 Billion by 2032, exhibiting a growth rate (CAGR) of 19.5% during 2024-2032. The growing encouragement for renewable energy adoption, the growing environmental awareness and governmental policies aimed at mitigating climate change, and the rise in smart, eco-friendly public transport solutions are among the key factors driving the market growth.

A supercapacitor is an energy storage device that bridges the gap between conventional capacitors and batteries. Unlike a typical capacitor, a supercapacitor can store a significantly larger amount of electrical charge, offering greater energy density while maintaining the high-power density of capacitors. This allows for quick charge and discharge cycles compared to batteries. It primarily consists of two electrodes, an electrolyte, and a separator. One key advantage is its ability to deliver bursts of energy within short periods, making it highly effective for applications that require quick power boosts, such as in electric vehicles for acceleration or in renewable energy systems for load leveling. Supercapacitors have a longer cycle life and are less sensitive to temperature changes, but they generally hold less energy than batteries. Due to these unique properties, supercapacitors are often used in combination with batteries to enhance the performance and lifespan of energy storage systems.

The encouragement for renewable energy adoption is escalating globally, driven by increasing environmental awareness and governmental policies aimed at mitigating climate change. Consequently, the growing focus on renewable energy storage is providing a robust market driver for the supercapacitor industry, as they offer a solution to one of the sector's most pressing challenges. With urban areas becoming increasingly congested, there is a growing emphasis on improving public transportation infrastructure. Supercapacitors offer a way to make public transit more energy-efficient and quick. Additionally, the rise in smart, eco-friendly public transport solutions is therefore fueling the demand for supercapacitors, serving as a noteworthy driver for the market. In addition, the proliferation of digital technologies and cloud computing has led to an exponential growth in data centers. These facilities require uninterrupted power supply (UPS) systems to protect against data loss in the event of power failures. Apart from this, the demand for small yet powerful energy storage units are driving the adoption of supercapacitors. Moreover, the provision of tax benefits, grants, and subsidies for the adoption of green technologies is driving the supercapacitor market growth.

Supercapacitor Market Trends/Drivers:

Acceleration of Electric Vehicle Adoption

Electric vehicles are gaining tremendous traction as a sustainable alternative to conventional combustion-engine vehicles, stimulated by advancements in battery technology and supportive government incentives. However, the extended charging times and limited lifespan of batteries remain a concern for consumers. Supercapacitors are widely adopted to address these problems. They can handle quick charging and discharging cycles, making them perfect for applications, such as regenerative braking or quick acceleration. Additionally, various automakers are exploring hybrid systems that use both batteries and supercapacitors to optimize performance and extend the overall life of the energy storage system. With EV adoption predicted to rise exponentially in the coming years, the supercapacitors market size is expected to grow proportionately.

Advancements in Consumer Electronics

Consumer electronics, such as smartphones, laptops, and wearable devices, have witnessed phenomenal growth in the past decade. As these gadgets become increasingly sophisticated, there is an escalating demand for energy storage solutions that can offer quick charging and high energy output. Along with this, supercapacitors fit this requirement perfectly. They can be charged in seconds, offer a high-power output for better device performance, and have a long operational life. Moreover, the trend toward fast-charging tech in consumer electronics is pushing manufacturers to explore supercapacitors as a viable, efficient energy storage solution. This creates a burgeoning market for supercapacitors in the consumer electronics sector, thereby driving industry growth.

Increasing Industrial Automation and IoT Applications

Industrial automation and Internet of Things (IoT) technologies are revolutionizing sectors, including manufacturing, healthcare, and supply chain management. These applications often require sensors and other small devices that need reliable, quick, and efficient energy storage solutions. Supercapacitors, with their quick charge/discharge capabilities and long cycle life, are well-suited for these demanding environments. In automated factory settings, supercapacitors can provide the quick bursts of energy needed to operate machinery efficiently. Additionally, they are also increasingly being used in IoT devices that require a compact, reliable power source. As industrial automation and IoT continue to expand, the need for advanced energy storage solutions is set to grow, boosting the supercapacitor market size.

Supercapacitor Industry Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the global supercapacitor market report, along with forecasts at the global, regional and country levels for 2024-2032. Our report has categorized the market based on product type, module type, material type, and end use industry.

Breakup by Product Type:

• Electric Double-Layered Capacitors
• Pseudocapacitors
• Hybrid Capacitors
   

Pseudocapacitors represent the largest market share

The supercapacitor market report has provided a detailed breakup and analysis of the market based on the product type. This includes electric double-layered capacitors, pseudocapacitors, and hybrid capacitors. According to the report, pseudocapacitors accounted for the largest market share.

Pseudocapacitors are a specialized subset of supercapacitors that offer higher energy density due to the faradaic reactions occurring at the electrode-electrolyte interface. This makes them particularly well-suited for applications where both high energy and high power density are required. One major market driver for pseudocapacitors is their growing use in portable electronics. As consumers demand devices with longer battery life and faster charging capabilities, pseudocapacitors are emerging as a reliable solution. Additionally, their potential for quick energy delivery makes them ideal for use in medical equipment, where immediate, reliable power can be crucial. In addition, the expanding field of Internet of Things (IoT) is another avenue where pseudocapacitors are increasingly being utilized, as these devices often require energy-efficient, long-lasting, and rapid-response power sources. Furthermore, ongoing research and development aimed at improving the material science behind pseudocapacitors are likely to further optimize their performance, thereby attracting even more industry interest.

Breakup by Module Type:

• Less than 25V 
• 25-100V 
• More than 100V
   

Less than 25V account for the majority of the market share

A detailed breakup and analysis of the market based on the module type has also been provided in the report. This includes less than 25V, 25-100V, and more than 100V. According to the report, less than 25V accounted for the largest market share.

The less than 25V module type in the supercapacitor industry is witnessing considerable demand, driven largely by its versatile applicability in various end-use scenarios. Additionally, the growing consumer electronics sector, where these low-voltage modules are well-suited for gadgets is significantly supporting the market. These devices require energy storage solutions that offer quick charge and discharge cycles without compromising the lifespan, areas where less than 25V supercapacitors excel. Along with this, in industrial settings, low-voltage supercapacitors are increasingly being used in backup power supplies, sensors, and control systems. Their ability to deliver quick bursts of energy reliably makes them ideal for operational continuity in manufacturing processes. Moreover, the growth of IoT is another contributing factor, as low-voltage supercapacitors can be incorporated into compact IoT devices that need efficient, long-lasting power sources. Given these diverse applications that demand reliable and efficient low-voltage energy storage solutions, the market for less than 25V module type supercapacitors is poised for robust growth.

Breakup by Material Type:

• Carbon and Metal Oxide
• Conducting Polymer
• Composite Materials
   

Carbon and metal oxide represent the leading market share

The report has provided a detailed breakup and analysis of the market based on the material type. This includes carbon and metal oxide, conducting polymer, and composite materials. According to the report, carbon and metal oxide accounted for the largest market share.

The carbon and metal oxide material types are significant contributors to the advancements in the supercapacitor industry, each with its own set of market drivers. Carbon-based supercapacitors, particularly those using activated carbon, are favored for their high surface area, which allows for greater energy storage. They are widely used in consumer electronics, automotive applications, and renewable energy systems, owing to their cost-effectiveness and high electrical conductivity. On the other hand, metal oxide-based supercapacitors, such as those utilizing ruthenium oxide, are known for their high energy and power density. These are often sought after for specialized applications that demand higher performance metrics, including medical devices and aerospace applications. Apart from this, the ongoing research in nanotechnology is further enhancing the properties of these materials, making them more efficient and scalable. Moreover, as industries continue to seek sustainable and high-performance energy storage solutions, the demand for carbon and metal oxide material types is expected to grow. Collectively, these factors create a favorable market environment for the adoption of carbon and metal oxide materials in the supercapacitor industry.

Breakup by End Use Industry:

• Automotive and Transportation
• Consumer Electronics
• Power and Energy
• Healthcare
• Others
   

Consumer electronics account for the majority of the market share

A detailed breakup and analysis of the market based on the end use industry has also been provided in the report. This includes automotive and transportation, consumer electronics, power and energy, healthcare, and others. According to the report, consumer electronics accounted for the largest market share.

The consumer electronics sector is a significant market driver for the supercapacitor industry, due to the growing demand for fast-charging and energy-efficient devices. With the advent of increasingly sophisticated smartphones, laptops, and wearable technology, there is a compelling need for energy storage solutions that can keep up with rapid charging requirements while offering longevity. Supercapacitors, particularly those of lower voltage, meet these needs effectively, making them highly attractive for consumer electronics applications. Moreover, as devices become more compact and integrated, supercapacitors offer the advantage of a smaller form factor compared to traditional batteries, without compromising on the energy output. The trend towards wireless and portable gadgets is also bolstering the market for supercapacitors, as these devices often require bursts of high energy for optimal functionality. Additionally, consumer expectations for device performance are rising, setting higher standards for battery life and charging speed. Meeting these expectations with supercapacitors can offer a competitive edge to manufacturers, thereby fueling growth in this segment of the supercapacitor industry.

Breakup by Region:

• North America
  • United States
  • Canada
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Russia
  • Others
• Latin America
  • Brazil
  • Mexico
  • Others
• Middle East and Africa
   

Asia Pacific exhibits a clear dominance, accounting for the largest supercapacitor market share

The market research report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, Asia Pacific exhibited the largest market segment.

The Asia Pacific region is emerging as a significant market driver for the supercapacitor industry, propelled by various factors that include technological advancements, industrial growth, and government initiatives. One of the key drivers is the rapid adoption of electric vehicles (EVs) in countries, such as China and Japan. The need for fast-charging solutions and regenerative braking systems in EVs aligns well with the capabilities of supercapacitors, thereby increasing their demand. Additionally, Asia Pacific is a hub for consumer electronics manufacturing, another sector where supercapacitors are finding increased usage. With countries including South Korea and Taiwan being leaders in the production of smartphones and other portable devices, the need for efficient energy storage solutions is palpable. Furthermore, the rise in renewable energy projects, particularly in India and China, is driving the need for reliable energy storage, for which supercapacitors are highly suitable. Furthermore, governmental support in the form of subsidies and research grants is also encouraging industry players to invest in supercapacitor technology.

Competitive Landscape:

The key players are actively engaged in various activities to advance the technology and its applications. Numerous are focusing on research and development to enhance the energy storage capacity, power density, and overall performance of supercapacitors. Additionally, they are exploring ways to improve the cost-effectiveness and sustainability of manufacturing processes. In addition, companies are collaborating with academic and research institutions to gain insights into innovative materials and designs. This research-driven approach aims to optimize supercapacitors for diverse industries, including automotive, electronics, renewable energy, and consumer electronics. Apart from this, companies are developing supercapacitors for use in electric vehicles, where their quick charging and discharging capabilities can enhance regenerative braking systems and overall energy efficiency. Moreover, they are exploring integration into renewable energy systems to provide rapid energy storage and release, complementing the intermittent nature of solar and wind power generation.

The market research report has provided a comprehensive analysis of the competitive landscape in the market. Detailed profiles of all major companies have also been provided. Some of the key players in the market include:

• AVX Corporation
• Cap-XX Limited (Kyocera)
• Eaton Corporation PLC
• Elna Co. Ltd. (Taiyo Yuden)
• Ioxus Inc. (XS Power Batteries)
• Kemet Corporation (Yageo Corporation)
• LS Mtron Ltd.
• Nippon Chemi-Con Corporation
• Panasonic Corporation
• Seiko Instruments Inc.
• Skeleton Technologies GmbH
• Tesla Inc.

Recent Developments:

• In February 2023, AVX Corporation revealed the first supercapacitors, also known as cylindrical, electrochemical, double-layer capacitors, that were automotive-qualified.
• In July 2022, Skeleton Technologies GmbH and Siemens established a broad technological alliance for the design, organization, and construction of a fully automated, digital manufacturing facility to make supercapacitors in Germany.
• In July 2020, Kemet Corporation (Yageo Corporation) announced the release of the C44U-M, C44P-R, and R75H family of metallized polypropylene dielectric film capacitors.

Supercapacitor Market Report Scope:

Key Benefits for Stakeholders:

• IMARC’s industry report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the supercapacitor market from 2018-2032.
• The research report provides the latest information on the market drivers, challenges, and opportunities in the supercapacitor market.
• The study maps the leading, as well as the fastest-growing, regional markets. It further enables stakeholders to identify the key country-level markets within each region.
• Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the supercapacitor industry and its attractiveness.
• Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.