The supercapacitor refers to a new type of energy storage device between traditional capacitors and rechargeable batteries. It has the characteristics of rapid charge and discharge of capacitors and the batteries’ energy storage characteristics. The supercapacitor is a type of component which stores energy through the interface double layer formed between the electrolyte and electrode. The most prominent feature of a supercapacitor is that it can be quickly charged and discharged. Unlike traditional capacitors, supercapacitors no longer use solid dielectrics but use electrostatic double-layer capacitors and electrochemical pseudocapacitors.
The global supercapacitor market size has grown from USD 456.17 million in 2019 to USD 835.33 million until 2027, with a CAGR of 9.03% between 2020 to 2027. The major factors are the growing requirement for energy conservation and supercapacitors’ high storage capabilities. Additionally, advancements and increasing demand from the automotive and consumer electronics industry to provide backup power for two-wheelers, wireless communication, GPS navigation, and video calling will spur the global supercapacitor in the future period. Further, the longer life cycle than batteries and decreasing the price of supercapacitors will foster the growth of the supercapacitor market. The increasing demand for supercapacitors in regenerative braking, burst-mode power delivery, or short-term energy storage within cranes, trains, buses, cars, elevators, and hybrid electric vehicles will complement the industry growth.
Moreover, the go green revolution adopted across the globe, the mounting cost of fossil fuels, and excessive carbon emissions will bolster the demand for supercapacitors in the upcoming periods. Furthermore, the increasing demand for renewable energy solutions and the swelling production of supercapacitor-based vehicles due to environmental concerns are anticipated to boost the supercapacitor market’s growth. The surge in demand for supercapacitor due to their dynamic properties, including a large amount of energy storage and high-capacity electrochemical capacitance and the capability to offer back up power to components such as PC cards, RAM, microcontrollers, etc. will trigger the market.
With the development of renewable energy power generation technology, a microgrid capable of effectively integrating distributed power meets the growing power demand, saves investment, and improves energy efficiency. Energy storage systems based on supercapacitors serve as energy buffers, provide short-term power supply, buffer load fluctuations in microgrids, balance micropower output, improve microgrid power quality, and are essential to the economic performance of microgrids effect. As a vital energy storage system in the microgrid, it plays a significant role. As a new type of energy storage device, the supercapacitor has become one of the first energy storage choices in microgrid because of its irreplaceable superiority.
Supercapacitors are suitable for use as auxiliary energy sources for automobile engine starting, power steering, and other subsystems. They can also be used as supplemental energy sources for electric vehicles combined with batteries and fuel cells. Thereby improving battery life and making up for insufficient specific power of fuel cells. With the growing demand for electric vehicles across the globe due to its pollution-free advantages will simultaneously foster the growth of the supercapacitor market in the future timeframe.
The supercapacitor is reserved for devices whose energy per unit volume exceeds ten times that of conventional capacitors that can be quickly charged and discharged. These commercial supercapacitors’ potential applications are vast: medical implants, skin patches, wearable technology, and new large-scale energy storage devices for commercial transportation, home, and smart packaging.
Based on the product type, the global supercapacitor market categorized into electric double-layered capacitors, pseudocapacitors, and hybrid capacitors. The electric double-layered capacitors are projected to expand at a higher CAGR from 2020 to 2027. It is due to the growing demand for supercapacitors in significant industries, including consumer electronics and automotive and significant cost-effectiveness provided by the double-layered supercapacitor.
The hybrid capacitors will grow at a significant CAGR in the forecast period. It is due to the surge in applications of hybrid capacitors in various consumer electronics such as mobile phones, laptops, wearable devices, LED flashlights, thermal printers, barcode scanners, and GPS chips.
By the electrode material, the global supercapacitor market segregated into carbon-based supercapacitors, metal oxide-based supercapacitors, conducting polymer-based supercapacitors, and composite-based supercapacitors. The carbon-based supercapacitor segment estimated significant growth over the analysis timeframe due to their excellent mechanical strength, good electrical conductivity, high electron mobilities, and excellent chemical stability in acidic and basic mediums.
The metal oxide-based supercapacitor will grow at a substantial rate during the forecast period. It improves electrochemical activity and chemical stability owing to the drop in the intra-particle electron-hopping resistance.
Based on the type, the global supercapacitor market classified into supercapacitor module, weldable supercapacitor cell, and board mounted supercapacitor. The supercapacitor module segment held for a significant market share in 2019 and will witness to gain maximum market revenue by 2027. It is attributable to the supercapacitor module used for infrastructure backup power, peak power shaving, heavy transportation, automotive, utility grid, and microgrid services.
Based on the end-user industry, the global supercapacitor market segmented into automotive, energy, consumer electronics, industrial, medical, aerospace & defense, and others. The automotive segment will dominate the global supercapacitor market by 2027. It is due to the surge in demand for supercapacitors in railways, hybrid buses, and metro trains in safety, efficiency, energy conservation, and power quality.
The consumer electronics accounted for the largest share of the supercapacitor market in 2019. It is due to the augmented implementation of supercapacitors technology in prominent devices used in consumer technologies such as mobiles and laptops.
By geography, the global supercapacitor market segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa. The Asia Pacific estimated to project considerable growth over 2020-2026. It is due to the rapid industrialization and infrastructure development and growth of consumer electronics and automotive industries in emerging economies like India and China.
North America will capture a prominent share of the supercapacitor market by 2027. Due to the transition to sustainable technologies, such as electric vehicle adoption and the increasing investment in renewable energy in the U.S. and Canada.
Companies such as Tesla, Nippon Chemi-Con, CAP-XX, LS Mtron, Panasonic, Eaton, Cornell-Dubilier, Ioxus, NAWA Technologies, Paper Battery Company, Skeleton Technologies, SPEL Technologies, Murata Manufacturing Co., Ltd, VINATech Co., Ltd, and LS Mtron are the key players in the global supercapacitor market.
By Product Type
By Electrode Material
By End-User Industry