Global Supercapacitors Market by Product Type (Double-Layer Capacitor, Pseudocapacitors, and Hybrid Capacitors), By Material (Activated carbon, and Carbon Aerogel), and By Application, By Region and Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends, and Forecast 2023-2032

Report Overview:

The Global Supercapacitors Market was valued at USD 4.7 Billion in 2022 and is expected to reach USD 29.2 Billion in 2032 growing at a CAGR of 20.6% during the forecast period of 2023 – 2032. Supercapacitors store and emit electrochemical energy through reversible ionic adsorption and desorption at the electrolyte and electrode materials interface. It has a long life, high energy density, fast charging and discharging speed, and high performance. They can store 10 to 100 times more electricity than their traditional counterparts. They are primarily used to power cranes, elevators, and certain automotive units.

Supercapacitors offer full charging and discharging in seconds, even a few degrees below zero. Supercapacitors can also be used as short-term backup power sources, as supercapacitor circuits help provide uninterrupted power. In addition, supercapacitors also offer benefits such as providing peak and backup power and extending battery life and battery life. It also reduces battery size, weight, and cost with cold/hot operations.

These supercapacitors are used and implemented in various applications. They are primarily used in end-use industries such as energy, consumer electronics, utilities, industrial, automotive, aerospace, and defense. Supercapacitors are classified into electric double-layer capacitors (EDLC), Pseudocapacitors, and hybrid capacitors. An electrochemical double-layer capacitor (EDLC) consists of two carbon-based electrodes, an electrolyte, and a separator. Pseudocapacitors stores charge in the Faraday Array through charge transfer between the electrodes and the electrolyte.

Driving Factors:

Rising demand for high-performance electronic devices is a major factor driving the growth of the market

The major drivers of the global supercapacitor market are the expansion of renewable energy sources such as solar, wind energy, and power grid infrastructure. Besides that, technological development in the automotive industry of hybrid vehicles leading to power stabilization and vehicle performance has resulted in significant growth of supercapacitors in the long term.

Supercapacitors provide peak and backup power, extend battery life and run time, reduce battery weight, size, and cost, reduce cold/hot operation and footprint, improve performance reliability, and offer benefits such as unlimited lifespan to the eventual market. Moreover, the demand for supercapacitors in the automotive, electronics, renewable energy, defense, railroad, and power industries and the development of model supercapacitor batteries is expected to rise sharply during the forecast period. In recent years, telecommunications and space communication systems have also increased the demand for supercapacitors.

Restraining Factors:

The volatility in raw material prices and their availability Hinders the market.

Availability of Low-Cost Alternatives – The supercapacitor/ultracapacitor market is limited by the high prices of these products and the availability of cheaper alternatives such as batteries. For example, supercapacitors cost about $20 per watt, while batteries range in price from $0.5 to $1 per watt.

High material costs and low awareness of supercapacitors are expected to hamper the market growth during the forecast period. Moreover, regular maintenance of supercapacitors becomes a significant cost and challenge, as the electrical parameters must be constantly optimized to ensure smooth performance. However, the increasing adoption of electric vehicles and implementation of stringent government regulations to curb CO2 emissions are expected to counteract the impediments and boost market growth during the forecast period.

COVID-19 Impact Analysis:

Disruptions in Transportation due to the Pandemic have decreased the Demand for Supercapacitors

The COVID-19 pandemic has caused supply chain disruptions resulting in shortages or decreased demand in the supercapacitor market. Consumer and business spending has plummeted due to travel restrictions and social distancing measures, and this pattern will continue for some time. With the pandemic changing trends and end-user preferences, major manufacturers, developers, and service providers are adopting different strategies to stabilize their businesses.

By Product Type Analysis:

Double-Layered Supercapacitors Expected to Witness Strong Growth During Forecast Period.

Double-layer capacitors are also usually classified as supercapacitors/ultracapacitors. They store energy by adsorbing both anions and captions and collecting charge at the electrode surface or interface. The double layer refers to the surface area of ​​the electrolyte and electrodes that store charge. A double-layer capacitor consists of two carbon-based electrodes, an electrolyte, and a separator. It uses an electrochemical charge double layer to store energy. A charge builds up on the electrode surface when a voltage is applied.

Conversely, electrodes are designed to avoid the recombination of ions. That’s why a double layer of charge is emitted at each electrode. These layers, along with increased area and decreased distance between electrodes, enable DLC to achieve higher energy densities than conventional capacitors. A pseudocapacitor is a two-terminal Faraday electromechanical storage capacitor.

They store electrical energy by faradaic reaction via electron charge transfer between electrolytes and electrodes. Faradaic reactions include intercalation processes, redox reactions, and electrosorption. It combines the properties of a battery and a capacitor into one component. Hybrid capacitors can adjust to extreme conditions and have excellent energy and power management capabilities. These factors may drive the future growth of the hybrid capacitor product segment.

By Material Analysis:

The market is segmented by material into activated carbon, carbide-derived carbon, carbon aerogels, and others. Supercapacitors differ from standard capacitors in different ways, Supercapacitor plates have a large surface area, and the distance between them is much smaller than that of conventional capacitors. It uses activated carbon to recharge the supercapacitor and maintain the charge fastly.

Separators between the plates work differently than traditional dielectrics. Supercapacitors work like regular capacitors but can store incredibly large amounts of energy. On the other hand, a normal supercapacitor can store up to thousands of farads of charge. Therefore activated carbon leads the material segment in the global supercapacitor market.

By Application:

The Automotive Segment Accounted for the Largest Market Share.

It is categorized into automotive, manufacturing, petroleum, consumer electronics, aerospace, and defense by application. Trains and electric buses play a key role in the demand for supercapacitors. With the increasing use of subways in urban areas, the protection, efficiency, energy saving, energy quality, and monitoring of freight cars are becoming more important. This contributes to the increasing railway demand for supercapacitors.

The automotive industry accounts for a large share of the application segment of the supercapacitor/ultracapacitor market. The demand for supercapacitors is increasing due to their use as a supplementary energy source for primary energy sources. These resources are internal combustion engines, fuel cells, or batteries that do not repeatedly provide rapid bursts of high power. H. Cranking when starting a car. In these vehicles, cost-effective and energy-saving solutions are in increasing demand.

Supercapacitors are now increasingly used in electric and other vehicles instead of or in combination with batteries. Here, electric vehicles include types such as hybrid vehicles and fuel cell vehicles. Supercapacitors are widely used in various automotive applications. Powertrain support for hybrid electric vehicles, fuel cell/hydrogen vehicles, electric buses, trucks, bicycles, etc. Updated energy absorption during braking/coasting and primarily cranking fuel-efficient stop/start systems. Major applications of supercapacitors in the automotive industry include energy recovery and dynamic braking energy storage.

Key Market Segments

By Product Type:

• Double-Layer Capacitor
• Pseudocapacitors
• Hybrid Capacitors

By Material Analysis:

• Activated carbon
• Carbide Derived Carbon
• Carbon Aerogel

By Application:

• Automotive
• Industrial
• Energy
• Consumer Electronics
• Aerospace & Defense

Growth Opportunity:

Supercapacitors can charge and release energy faster than conventional batteries.

The market size of supercapacitors/ultracapacitors is the largest in China. Strategies based on supercapacitor/ultracapacitor market trends include the fabrication of supercapacitors using graphene and carbon nanotubes, collaboration, using metal nitrides, and investment in supercapacitors. Strategies adopted by the supercapacitor/ultracapacitor industry players include product portfolio expansion, expansion through acquisitions, and strategic partnerships.

Supercapacitors can charge and release energy faster than conventional batteries, which perform the same function much more slowly. These capacitors can be rapidly charged and discharged with electrodes and electrolytes for many cycles, making them a viable alternative to traditional batteries in many applications.

As environmental considerations become a priority, there is a growing awareness among consumers to use energy storage devices with minimal or no emissions, indicating a growing market for alternative energy technologies. Supercapacitors can be charged and recycled, eliminating the potential for hazardous toxic waste. Therefore, it can be considered as an eco-friendly alternative to traditional batteries. Currently, supercapacitors are not as mature as traditional battery-based energy storage systems, but given recent progress in graphene-based supercapacitors, they may replace traditional batteries in the near future.

Latest Trends:

Graphene and Carbon Nanotubes Supercapacitors to Increase Electrical Conductivity.

Supercapacitor manufacturers increasingly use graphene and carbon nanotubes to improve the electrical conductivity of supercapacitors. Carbon nanotubes (CNTs) are cylindrical molecules composed of a single layer of rolled carbon atoms (graphene). Carbon nanotubes have high capacitance and low resistance, which greatly increases the power density of supercapacitors. Power density is the power delivered per unit volume.

Research around the world has focused on synthesizing low-cost materials with adequate cycling performance and higher power densities. For example, researchers at the University of South Dakota in the United States have experimented with developing different ways to use Biochar. Biochar is a carbon-rich, highly porous electrode material that can be reused as an inexpensive supercapacitor. The cost of supercapacitors is expected to decrease during the forecast period as similar research advances in materials science.

Supercapacitors are in high demand in increasing applications from healthcare to construction. Based on recent research, technology is also being innovated as demand is expected to grow exponentially. The market is expected to benefit from using technologically advanced materials such as graphene and carbon nanotubes in supercapacitor designs. In recent years, nanostructured materials, especially 2D sheets, and folded tubular networks, have emerged as promising materials for electrode selection.

Regional Analysis:

Asia Pacific Leads with Major Share in Market.

Asia Pacific accounts for the largest market share of 37.8% and is projected to grow at a CAGR of 18.86% during the forecast period. Asia Pacific is one of the fastest-growing economies in the world market. The region is backed by China and India, the most populous countries in the world. Due to high population density and rising income levels, most industries are experiencing positive growth in both production and consumption.

Several product/service/technology trends are catching consumers’ attention in the region. Therefore, industries consistent with these trends have higher future growth prospects than North America and Europe, which have already reached saturation levels in many industries. The Asian economy continues to grow steadily. Inflation in the Asia-Pacific region is rising but remains manageable as Asia adopts fiscal easing despite heightened financial market volatility. New policies are being launched as demand rises for people in the Asia-Pacific region’s rural, urban, and coastal areas. This makes Asia Pacific one of the fastest-growing economies in the global market.

North America is the second largest contributor in revenue and is expected to register significant growth during the forecast period as the demand for supercapacitors in the large and medium-sized automotive industry complements the growth of supercapacitors.

The European supercapacitor market is expected to grow significantly during the forecast period owing to the rise of the automotive sector. Electric vehicles are growing in popularity in the region, home to some of the world’s leading automakers. Local manufacturers are finding new perspectives through the automotive industry’s continued environmental commitment. Skeleton Technologies has been awarded a contract to supply high-energy ultracapacitor modules to power the UK’s hydrogen buses.

Key Regions and Countries Covered in this Report:

• North America
  • The US
  • Canada
  • Mexico
• APAC
  • China
  • Japan
  • South Korea
  • India
  • Australia & New Zealand
  • Indonesia
  • Malaysia
  • Philippines
  • Singapore
  • Thailand
  • Vietnam
  • Rest of APAC

• Western Europe
  • Germany
  • France
  • The UK
  • Spain
  • Italy
  • Portugal
  • Ireland
  • Austria
  • Switzerland
  • Benelux
  • Nordic
  • Rest of Western Europe
• Eastern Europe
  • Russia
  • Poland
  • The Czech Republic
  • Greece
  • Rest of Eastern Europe

• Latin America
  • Brazil
  • Colombia
  • Chile
  • Argentina
  • Costa Rica
  • Rest of Latin America
• Middle East & Africa
  • Algeria
  • Egypt
  • Israel
  • Kuwait
  • Nigeria
  • Saudi Arabia
  • South Africa
  • Turkey
  • United Arab Emirates
  • Rest of MEA

Market Share & Key Players Analysis:

The Major Players in the Market are CAP-XX Limited, Nippon Chemi-Con Corp., Panasonic, Eaton Corporation, and Others.

The global supercapacitor market demands intense competition among market players due to rapidly changing consumer preferences. Moreover, industry players are notably adopting growth strategies to remain competitive in the global market, including partnerships, collaborations, mergers, acquisitions, etc. They invest heavily in research and development activities for new product development and further development.

AVX Corporation, Panasonic Corporation, Cap-XX Limited, SPEL Technologies Private Limited, Nippon Chemi-Con Corporation, Skeleton Technologies, Ioxus Inc., LS Mtron Ltd., Evans Capacitor Company, and KORCHIP Corporation are some of the key players in the global supercapacitor market

Market Key Players:

• AVX Corporation
• Panasonic Corporation
• Cap-XX Limited
• Nippon Chemi-Con Corporation
• SPEL Technologies Private Limited
• Skeleton Technologies
• Ioxus Inc.
• LS Mtron Ltd.
• Evans Capacitor Company
• KORCHIP Corporation
• Nesscap Energy, Inc.
• Advanced Capacitor Technologies, Inc.
• Maxwell Technologies
• FastCAP Systems, Inc

Recent Development:

• In February 2022, CAP-XX signed a procurement agreement with Continental Automotive GmbH, a Tier 1 automotive program.
• In December 2021, Cornell Dubilier announced that his subsidiary CD Show Hill LLC had acquired the capacitor manufacturing facility from his NWL, Inc. The company has advanced capabilities in custom high-voltage film capacitors for pulsed power and power conversion applications. It is ready to extend its solutions to industrial, military, and medical customers.
• In October 2021, Nippon Chemi-Con developed a supercapacitor DLCAP module that is ideal for backup power in emergencies such as power outages. This product is specially designed for use in industrial plants.
• In February 2022, CAP-XX signed a procurement agreement with Continental Automotive GmbH, a Tier 1 automotive program.
• In December 2021, Cornell Dubilier announced that his subsidiary CD Show Hill, LLC had acquired his NWL, Inc. capacitor manufacturing assets. The company has advanced capabilities in high-voltage custom film capacitors for pulsed power and power conversion applications. It is poised to extend its solutions to industrial, military, and medical customers.
• In October 2021, Nippon Chemi-Con developed a supercapacitor DLCAP module that is ideal for backup power in emergencies such as power outages. This product is specifically designed for use in industrial plants.

Report Scope: