Supercapacitor Market

The Supercapacitor Market is projected to reach USD 912 million by 2030, growing at a CAGR of 14.1% during the forecast period from 2023 to 2030, with the market size at USD 520 million in 2023.

Global Supercapacitor market Share:
The growth of the supercapacitor industry is propelled by rising requirements for energy conservation solutions and high storage capabilities, particularly in automotive, energy, and consumer electronics applications. The accelerated use of supercapacitors in various sectors, including electric and hybrid vehicles (EVs/HEVs), trains, aircrafts, smart wearables, wind turbines, grid energy storage systems, and rail wayside systems, contributes to the increasing market share of supercapacitors.

Market Dynamics:
Driver: Rising use of supercapacitors in renewable energy generation plants:
The global shift towards clean energy sources has led to a significant increase in the establishment of renewable energy power plants worldwide. This growing demand for renewable energy solutions is driving the growth of the supercapacitor market. Supercapacitors offer higher power density than batteries and greater energy density compared to traditional capacitors, making them suitable for various energy storage systems. They provide high specific capacitance and electrical stability, ensuring efficient operation of microgrids.

Supercapacitors find extensive usage in solar and wind power plants. They are utilized in powering microgrids for renewable energy generation. Applications such as solar photovoltaic (PV) panels and solar lighting benefit from supercapacitors as reliable energy storage solutions. Additionally, supercapacitors are becoming the preferred technology for pitch control in large wind turbines. With the global adoption of wind energy on the rise, the demand for supercapacitors is expected to further increase. Wind turbines, grid energy storage systems, and rail wayside systems are increasingly incorporating supercapacitors, driving market growth worldwide.

Restraint: Limited use of supercapacitors as long term energy storage solutions
Supercapacitors pose limitations for long-term energy storage applications due to their high discharge rate and significant self-discharge, resulting in a loss of 10-20% charge per day. Unlike batteries that maintain a near-constant voltage output, the voltage output of supercapacitors decreases linearly with their charge. Consequently, supercapacitors are not reliable for applications requiring a consistent energy supply over an extended period, particularly in energy applications where long-term storage is crucial for microgrid operation.

Opportunity: Considering supercapacitors as a viable alternative to conventional batteries
Supercapacitors offer the advantage of rapid charging and energy delivery compared to traditional batteries, which perform these functions at a slower pace. Equipped with electrodes and electrolytes, supercapacitors can charge and discharge quickly over numerous cycles, making them suitable replacements for conventional batteries in various applications.

As environmental sustainability gains importance, there is growing consumer awareness regarding the use of energy storage devices with minimal or zero emissions. Major technology companies are intensifying their efforts to reduce greenhouse gas emissions, indicating market growth for alternative energy technologies. Supercapacitors, being rechargeable and recyclable, eliminate the generation of harmful toxic waste, making them an environmentally friendly substitute for traditional batteries. Although supercapacitors are not as mature as conventional battery-based energy storage systems, recent advancements in graphene-based supercapacitors indicate their potential to replace conventional batteries in the near future.

Challenge: Consistent optimization of electrical parameters for supercapacitors
Despite being utilized in commercial applications for approximately two decades, supercapacitors are still in the developmental stage. Currently, they are primarily suitable for short-term, high-energy applications due to their high discharge and leakage rates. Continuous optimization of their electrical parameters is necessary to ensure optimal performance, making regular maintenance a top priority for supercapacitors.

Furthermore, supercapacitors are known for their high cost. For example, the cost of supercapacitors used in electric vehicles ranges from USD 2,500 to USD 6,000 per kWh of energy storage, while lithium-ion batteries cost between USD 500 and USD 1,000 per kWh. The procurement of various materials required for manufacturing supercapacitors is challenging and expensive. Additionally, manufacturers struggle to obtain highly efficient electrodes at affordable prices. These factors contribute to the overall high costs associated with the development of supercapacitors.

The double-layered capacitors segment is expected to dominate the supercapacitor market in 2022. Double-layered capacitors are being adopted as alternatives to conventional batteries and perform exceptionally well in applications requiring a stable energy supply over a short period. In consumer electronics applications such as smart wearables, computers, laptops, and foldable phones, double-layered capacitors are replacing traditional batteries. Their clean energy source characteristics have prompted several battery manufacturers to expand their product portfolios in the double-layered capacitors segment.

The automotive application segment is anticipated to exhibit the highest growth rate and contribute the largest market share during the forecast period. With the rise of electric vehicles, the demand for supercapacitors in the automotive sector has increased. Automotive manufacturers worldwide are gradually shifting from battery-powered electric vehicles to supercapacitor-powered electric vehicles due to the scalability and wide operating temperature range offered by supercapacitors.

The Asia Pacific region is projected to experience the highest compound annual growth rate (CAGR) in the supercapacitor market during the forecast period. Rapid industrialization and infrastructure development in China are driving the growth of the consumer electronics and automotive industries, resulting in increased demand for supercapacitors in the country. China is the largest low-cost vehicle manufacturer globally, and the growing requirement for supercapacitors in the automotive sector is fueling the market's growth. Additionally, Japan and South Korea are witnessing a rise in manufacturing facilities, creating opportunities for the market. Consequently, the region is expected to witness significant demand for supercapacitor solutions.

Key Market Players
The supercapacitor market’s players have implemented various types of organic as well as inorganic growth strategies, such as product launches, product developments, partnerships, and acquisitions to strengthen their offerings in the market. The major players in supercapacitor companies are CAP-XX (Australia), Nippon Chemi-Con Corp. (Japan), Panasonic Corp. (Japan), Maxwell Technologies (South Korea), Eaton (Ireland), Cornell-Dubilier (US), and Ioxus (US) among others.

This study provides a comprehensive analysis of the key players in the supercapacitor market, including their company profiles, recent developments, and key market strategies, to offer an in-depth competitive analysis.

The report segments the overall supercapacitor market based on type, electrode material, application, and region, providing a detailed analysis within each category.

Supercapacitor Market By Type
• Double Layered Capacitors
• Pseudocapacitors
• Hybrid Capacitors

By Electrode Material
• Carbon
•  Metal Oxide
• Conducting Polymers
• Composites

By Application
• Automotive
• Energy
• Consumer Electronics
• Industrial
• Aerospace
• Medical

Supercapacitor Market By Region
• North America
o US
o Canada
o Mexico
• Europe
o UK
o Germany
o France
o Rest of Europe
• Asia Pacific
o China
o Japan
o India
o Rest of Asia Pacific
• Rest of the World
o Middle East
o Africa
o South America

Recent Developments
• In February 2022, CAP-XX entered into a sourcing agreement with Continental Automotive GmbH, a leading Tier 1 automotive supplier, to supply CAP-XX DMT220 prismatic supercaps for a significant automotive program.
• In December 2021, Cornell Dubilier announced the acquisition of the capacitor production assets of NWL, Inc. through its subsidiary, CD Snow Hill, LLC. This acquisition enhances Cornell Dubilier's capabilities in custom high-voltage film capacitors for applications in pulsed power and power conversion, allowing the company to expand its solutions for industrial, military, and medical customers.
• In October 2021, Nippon Chemi-Con developed DLCAP™ modules, which are supercapacitors specifically designed for backup power supplies during emergencies such as power outages. These products are particularly suited for use in industrial equipment.