Global Supercapacitor Market is valued at USD 5.02 Billion in 2021 and is expected to reach USD 22.50 Billion by 2028 with a CAGR of 23.9% over the forecast period.
Supercapacitors are defined as a type of devices that store and release electrochemical energy through the process of reversible ion adsorption and desorption at interfaces lying between electrolytes and electrode materials. They have a long-life cycle, high energy density, fast charge-discharge rates, and high power. In fact, they can store 10-100 times more power than their traditional counterparts. They are predominantly used to power cranes, elevators, and certain automobile entities.
Supercapacitors are also known as ultra-capacitors or electrochemical capacitors which utilize high surface area electrode materials and thin electrolytic dielectrics to achieve capacitances of several orders of magnitude larger than conventional capacitors. In a conventional capacitor, energy is stored by moving charge carriers and electrons from one metal plate to the other metal. Hence, the charge separation creates a potential between the two plates which can be harnessed in an external circuit. Supercapacitors have attracted research interest worldwide because of their potential applications as energy storage devices in many fields. Supercapacitors have considerably higher specific powers and longer cycle lifetimes compared to most rechargeable batteries, such as lead-acid, nickel-metal hydride, and Li-ion batteries. Supercapacitors have also appealed to considerable interest because of the ever-increasing demands of electric vehicles, portable electronic devices, and power sources for memory backup. Conversely, the supercapacitors have been widely used as the electrical equivalents of flywheels in machines energy reservoirs that smooth out power supplies to electrical and electronic equipment. Supercapacitors can also be connected to batteries to regulate the power they supply.
The energy efficiency of these capacitors, rapid industrialization, and rising investments in sustainable energy sectors are augmenting the outlook of this industry vertical. Further, technological advances in the field, escalating demand for electric vehicles coupled with surging R&D activities in the field are adding momentum to the progression of this market sphere. Also, growing focus of prime industry players to develop and launch efficient products in the field is creating lucrative opportunities for this business sphere to prosper.
Moreover, stringent emission regulations, widespread urbanization, and rise in the number of renewable energy generation plants are aiding the expansion of the Global Supercapacitor Market. On the contrary, high costs of these devices along with lack of skilled professionals in the field are hindering the remuneration scope of this industry.
The outbreak of the COVID-19 pandemic slowed down the progression of this business vertical due to a wide range of factors. As a result of lockdowns and travel bans, most of the commercial activities were halted. The mobility restrictions imposed by government bodies to contain the spread of the virus had a negative impact on the world economy. The manufacturing units pertaining to supercapacitors were temporarily closed which in turn led to a massive scarcity of these products. Moreover, due to financial crisis, people invested their money only on basic amenities which further reduced the sales of vehicles and other associated products. All these factors severely affected this industry.
Increasing investments in renewable energy owing to the need for environmental protection and achieve sustainable goals is driving the growth of supercapacitor market. According to Brandessence Research Report in 2018, the electric car deployment has been growing rapidly over the past ten years, with the global stock of electric passenger cars passing 5 million, an increase of 63% from the previous year. Around 45% of electric cars on the road in 2018 were in China a total of 2.3 million compared to 39%. The supercapacitors market is expected to benefit from technological advances such as the use of graphene and carbon nanotubes in these products. These substances are increasingly being used in the production of supercapacitors to improve their electrical conductivity. These CNTs significantly increase the power density of supercapacitors as carbon annotates has high capacitance and low resistance. The Power density is the amount of power transferred per unit volume. Moreover, the researchers at George Washington University developed a new ultracapacitor with high performance and low cost than traditional supercapacitors by using graphene and carbon nanotubes.
Major companies manufacturing graphene supercapacitors include Skeleton Technology, Angstron Materials and Sunvault Energy. The supercapacitor companies are using metal nitrides as the raw material for electrodes in supercapacitors because it offers high electrical conductivity, chemical stability and cycling stability. Metal nitrides such as molybdenum nitride, titanium nitride, vanadium nitride and chromium nitride are being used as the material for electrodes to manufacture supercapacitors. The supercapacitors/ultra capacitors market is also expected to benefit from growth in the automobile industry during the forecast period. Supercapacitors are used in electric and hybrid vehicles for various applications including braking systems. Furthermore, a number of applications for supercapacitors in automotive manufacture are under development, and so likely to increase the demand for these products in the forecast period.
As per the supercapacitor market forecast, rising requirement for renewable energy solutions is powering the market growth. The supercapacitor is an up-and-coming tech for different power storage systems, as it can provide higher density of power as compared to batteries and more energy density as compared to conventional capacitors. Solar lighting and solar PV panels are potential regions where supercapacitors are developing. Overall, solar panels are employed in both modes, offline as well as online, for which supercapacitors are dependable options.
Rising manufacturing of supercapacitor-supported cars due to environmental issues is powering the market, as per supercapacitor market forecast. Greenhouse gases and climate change have established to be worldwide menaces, which impact weather systems, crop cycles, and complete ecosystems. With eco-friendliness being a preference, there is elevated awareness among the consumers of power storage equipment about lowering emissions. In addition to this, various mergers and acquisitions among the leading players of the market is one of the factors responsible for the development of the global market.
The common use is in wind turbines where very large supercapacitors help to smooth out the intermittent power supplied by the wind. In electric and hybrid vehicles, supercapacitors are widely being used as temporary energy stores for regenerative braking where the energy a vehicle would normally waste when it comes to a stop is briefly stored and then reused when it starts moving again. These capacitors are intermediate systems that mainly use high dielectric materials to store more energy in a shorter time. Here, the energy density is typically hundreds of times greater than conventionally used capacitors. The benefits of Flexible threadlike supercapacitors have attracted extensive attention owing to recent breakthroughs in modern wearable electronics, taking advantage of their high flexibility, tiny volume, and good specific performance. Since, the CNTs possess very large specific surface area, low mass density outstanding chemical stability and excellent electrical conductivity they have been widely used as electrode materials for supercapacitors.
Major technology firms are speeding up their efforts to lower emissions of greenhouse gas, showing the market development for optional energy techs. Among all energy storage machines, supercapacitors cause the minimum environmental harm. All substances employed in a double-layer electrochemical capacitor are made of some kind of biodegradable carbon.
Supercapacitor has different verticals all over various sectors such as industrial, consumer electronics, energy, automotive, aerospace & defense, medical, and others. Return on investment and sustainability are the objectives that can be attained in the long run by restoring batteries with supercapacitors.
Global Supercapacitors Market report is segmented on the basis of type, application, and by regional & country level. Based on type, global Supercapacitors market is classified as the Double Layer and Pseudocapacitor. Based upon application, global Supercapacitors is classified into Energy Storage, Power System and Electronic Device.
The market is divided on the basis of application, type, geography, and vertical. The applications comprise laptops, audio system, solar watch, camera, memory, smoke detector, Solid-State Disc Drives, UPS, and others. Among all these applications, laptop had the biggest share of the market. The rising employment of laptops in different verticals such as medical, consumer electronics, and industrial is the reason for its elevated development. In addition to this, laptop needs a power storage machines with swift charging ability and the supercapacitor suffices this need. Due to this advantage of the supercapacitor, the user electronic machines, majorly laptops, had accepted the supercapacitor instead of its battery. Due to all these advantages of supercapacitor; it has biggest market in laptop application section.
There has been an elevating demand for sustainable energy solutions across the globe. This is credited to the growing environmental cognizance of the masses, rising emission levels, and increasing instances of fossil fuel depletion. People have shifted their inclination towards the use of renewable energy sources. This has led to the increase in the number of renewable energy generation plants. Supercapacitors are widely deployed across solar and wind power plants owing to their capacity of storing large volume of energy while providing electrical stability and high capacitance to microgrids. These factors in turn are stimulating the overall dynamics of the Global Supercapacitor Market.
Due to stringent emission regulations and growing environmental consciousness, there has been an increasing adoption of electric vehicles across the globe. Supercapacitors are one of the primary components of EVs as they exhibit fast charge and discharge duration and posses an extended lifecycle. They further enable fast energy collection in these vehicles while reducing battery loads. This in turn is adding traction to the growth of this industry sphere.
North America dominates the global market accounting largest market share 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. According to Brandessence Research Report on U.S, the increased deployment of electric vehicles and charging infrastructure in the New Policies Scenario, which includes the impact of announced policy ambitions, global electric car sales reach 23 million and the stock exceeds 130 million vehicles in 2030. The increasing amount of business investments in this region is anticipated to increase industry growth. Hence, the high demand for electronics like mobile, tablets, and others are also driving for the region in the forecast period. According to Brandessence Research Report in 2016, the United States total national vehicle miles traveled (VMT) increased by 3.3 % to 1.58 trillion miles compared to its value 1.54 trillion miles, they were 30 plug-in electric vehicle (PEV) models and 37 hybrid electric vehicle (HEV) models available in the United States , the Sales of HEVs were slowly declining but PEV sales hit an all-time record of 159,616 units during the year, several additional automobile manufacturers announced plans to offer all electric vehicles by the 2020.
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 automotive industry has been growing rapidly in China, and the country is playing an increasingly important role in the global automotive market. In addition, the government of China views its automotive industry, including the auto parts sector, as one of the country’s pillar industries. According to Brandessence Research Report of 2018 in China, the Electric mobility continues to grow rapidly, the global electric car fleet exceeded 5.1 million, up 2 million from the previous year and almost doubling the number of new electric car registrations, The People’s Republic of China remained the world’s largest electric car market. Moreover in Japan, utility providers are incorporating smart electricity meters. The Japanese government has also shifted its focus to demand-side management and there is an increased emphasis on energy security and resiliency through the smart grid and energy efficiency technologies.
Asia Pacific is predicted to be the quickest developing region. The automotive sector has been developing swiftly in China, and the nation is playing a gradually essential role in the global automotive sector. The Government of China sees its automotive sector, comprising the auto parts industry, as one of the nation’s pillar sectors.
The popularity of EVs is increasing all over the world, and China is seen as the leading adopter of EVs. The 13th Five-Year Plan of China markets the growth of green transportation solutions, such as electric and hybrid vehicles, for enhancements in the nation’s transportation industry. The nation is an early acceptor of new tech that powers EVs.
Together with the electrification of its transportation, China is investing billions into a high-speed national railway network, bus, and subways. The nation has also assisted fund Shenzhen’s pursuit of enhanced buses. Furthermore in Japan, utility suppliers are adding smart electricity meters. The government of Japan has also shifted its aim to demand-end management and there is an elevated stress on energy resiliency and security via the energy efficiency and smart grid techs.
Considering the geographical frame of reference, the Global Supercapacitor Market is bifurcated into North America, Middle East & Africa, Europe, Asia Pacific, and Latin America.
Among these, Middle East & Africa is projected to showcase profitable trends over the forecast duration. This is credited to the booming automotive industry, rising income levels of the masses, increasing expenditure on consumer electronics, along with rapid surge in the number of non-renewable energy-based power generation plants. Meanwhile, Asia Pacific led by China is one of the prime consumers of supercapacitor. This is attributable to the increasing adoption of electric vehicles, presence of low-cost labour, technological innovations, and strict emission rules.
Some major of Global Supercapacitor Companies are
Middle East and Africa
|Historical data||2015 - 2021|
|Forecast Period||2021 - 2028|
|Market Size in 2021:||USD 5.02 Billion|
|Base year considered||2020|
|Forecast Period CAGR %:||
|Market Size Expected in 2028:||USD 22.50 Billion|
|Tables, Charts & Figures:||175|
|Supercapacitor Manufacturers||Maxwell, Panasonic, NEC TOKIN, Nesscap, AVX, ELNA, Korchip, Nippon Chemi-Con, Ioxus, LS Mtron, Nichicon, Shenzhen Technology Innovation Green (TIG), VinaTech, Jinzhou Kaimei Power, Samwha, Haerbin Jurong Newpower, Ningbo CRRC New Energy Technology, Beijing HCC Energy, Jianghai Capacitor, Supreme Power Solutions, Shanghai Aowei Technology, Heter Electronics, CAP-XX.|
|Segments Covered||By Product Type, By Module Type, By Material Used in Supercapacitors, By On the Basis of Vertical|
|Regional Analysis||North America, U.S., Mexico, Canada, Europe, UK, France, Germany, Italy, Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, GCC, Africa, Rest of the Middle East and Africa|
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