Supercapacitor Market Outlook - 2027
The global supercapacitor market size was valued at $3.27 billion in 2019 and is expected to reach $16.95 billion by 2027, growing at a CAGR of 23.3% from 2020 to 2027.
Supercapacitor is an electrochemical energy storage device, which stores and releases energy by reversible adsorption and desorption of ions at interfaces between electrode materials and electrolytes. Supercapacitors are also known as ultracapacitors, which store 10 to 100 times the power stored in normal electrolytic capacitors and are used for rapid charge & discharge, as it shows zero resistance. These can be categorized between capacitor and battery in the electronic device taxonomy and are used as supplements with traditional batteries that can also be used for short-term back-up supply, as supercapacitor circuits help with uninterrupted power supply.
Supercapacitor is an advance technology for various energy storage systems, which can provide advanced power density than batteries and higher energy density over traditional capacitors. Solar PV panels and solar lighting are possible areas where supercapacitors are growing rapidly. In addition, solar panels are used in both modes, online as well as offline for which supercapacitors are reliable options. Environment-friendliness being a priority, there is a heightened awareness among users of energy storage equipment about minimizing emissions. Major companies are pacing up their efforts to reduce greenhouse gas emissions and indicating market growth for alternative energy technologies. Among all energy storage devices, supercapacitors cause least environmental damage. All materials are used in an electrochemical double-layer capacitor and are made of some form of readily biodegradable carbon.
The prominent factor that drives the supercapacitor market growth includes rise in demand for supercapacitors in automotive applications. There are several qualities, such as long shelf life, high power density, and fast charging function that supercapacitors feasible for automotive applications. In addition, rise in demand for renewable energy systems and favorable government regulations are expected to boost the market growth. Long-term rise in worldwide gasoline prices have led governments to lay down regulations, which promote environmentally friendly and fuel-efficient means of transportation.
However, high initial costs of materials and low awareness of supercapacitors are anticipated to hamper growth of the market. Moreover, owing to their extended operational life, supercapacitors are widely used in solar and wind energy applications. Moreover, growth in demand for micro supercapacitors is expected to offer lucrative opportunities for growth of the supercapacitor industry in the future.
By Product Type
Hybrid Capacitors segment is projected as one of the most lucrative segments.
The global supercapacitor market is analyzed by product type, module type, material, application, and region. By product type, it is fragmented into double-layer capacitors, pseudocapacitors, and hybrid capacitors. The pseudocapacitors segment dominated the market in terms of revenue in 2019, and is expected to follow the same trend during the forecast period. By module type, the market is segregated into less than 10 volts modules, 10 volts to 25 volts modules, 25 volts to 50 volts modules, 50 volts to 100 volts modules, and above 100 volts modules. The 10 volts to 25 volts modules segment accounted for the highest market share in 2019, whereas the above 100 volts modules segment is expected to grow at the highest CAGR from 2020 to 2027. By material, the market is classified into activated carbon, carbide derived carbon, carbon aerogel, and others. By application, it is categorized into automotive, industrial, energy, consumer electronics, and aerospace & defense.
By Application
Automotive segment is expected to secure leading position during forecast period.
By region, the supercapacitor market trends are analyzed across North America (the U.S., Canada, and Mexico), Europe (the UK, Germany, France, Italy, and rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa). Asia-Pacific accounted for the highest share in 2019, owing to increase in automotive business and growth in the electronic sector in China and India have fostered the supercapacitor industry growth in recent years. North America was the second largest contributor, in terms of revenue, and is expected to witness significant growth during the forecast period, owing to demand for supercapacitors in large and mid-sized automotive industries has supplemented the growth for supercapacitors.
By Region
Asia-Pacific region would exhibit the highest CAGR of 24.50% during 2020-2027
Top Impacting Factors
The most prominent factors that drive the supercapacitor market growth include rise in need for supercapacitors in automotive applications, surge in demand for renewable energy systems, and favorable government regulations. However, high initial costs of materials and low awareness of supercapacitors are the factors anticipated to hamper growth of the market. Moreover, rise in demand for newer applications in solar and wind energy and growth in demand for micro supercapacitors is expected to offer lucrative opportunities for growth of the supercapacitor market in the future.
Competition Analysis
Competitive analysis and profiles of the major supercapacitor market players, such as 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 provided in this report.
Key Benefits For Stakeholders
This study comprises analytical depiction of the global supercapacitor market size along with the current trends and future estimations to depict the imminent investment pockets.
The overall supercapacitor market analysis is determined to understand the profitable trends to gain a stronger foothold.
The report presents information related to key drivers, restraints, and supercapacitor market opportunities with a detailed impact analysis.
The current supercapacitor market forecast is quantitatively analyzed from 2019 to 2027 to benchmark the financial competency.
Porter’s five forces analysis illustrates the potency of the buyers and the market share of key vendors.
The report includes the market trends and the supercapacitor market share of key vendors.
Supercapacitor Market Report Highlights
| Aspects | Details |
 By Product Type |
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 By Module Type |
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 By Material |
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 By Application |
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 By Region |
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 Key Market Players | LS Mtron Ltd, Skeleton Technologies, CAP-XX Ltd, PANASONIC CORPORATION, Evans Capacitor Company, KORCHIP Corporation, SPEL Technologies Private Limited, Nippon Chemi-Con Corporation, IOXUS Inc., AVX Corporation |
Analyst Review
According to the insights of CXOs of leading companies, there is a growth in need for supercapacitors in automotive applications, owing to zero resistance and rapid charge and discharge cycle. There are several qualities such as long shelf life, high power density & fast charging that make supercapacitors feasible for automotive applications. In addition, rise in demand for renewable energy systems and favorable government regulations are expected to boost growth of the market.
Automotive is the most promising sector that dominates the use of supercapacitors across various regions, followed by energy harvesting. For energy harvesting applications, supercapacitors are used in solar and wind energy. Wind energy harvesting is also the second fastest growing sector that has encouraged use of supercapacitors. In the electronics application, supercapacitors are majorly used in UPS.
Asia-Pacific accounted for the highest share in 2019, owing to increase in automotive business and growth in the electronic sector in China and India. In addition, North America was the second largest contributor, in terms of revenue, and is expected to witness a significant growth during the forecast period.
The supercapacitor market provides numerous growth opportunities to the market players such are 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.
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