“The Supercapacitors market is projected to grow at a CAGR of 21.8% from 2024 to 2031. The market value is expected to reach XX USD by 2024 and YY USD by 2031.”
Asia-Pacific dominates the market, driven by increasing adoption in consumer electronics and automotive sectors. Key metrics include rising demand for energy-efficient storage solutions, growing investments in renewable energy, and increasing focus on electric vehicles.
Market Trend: Integration of supercapacitors in hybrid energy storage systems boosts market growth
The use of supercapacitors in hybrid energy storage systems is a significant market-reshaping development. This trend combines supercapacitors and batteries to maximize the use of both technologies. Supercapacitors have a high power density and can charge and discharge quickly, although batteries have a greater energy density. This hybridisation allows for more efficient energy management in a wide range of applications, including electric vehicles and renewable energy sources.
In the automobile sector, supercapacitors are used in conjunction with lithium-ion batteries to increase acceleration, regenerative braking, and overall vehicle efficiency. In renewable energy applications, supercapacitor-based hybrid systems can control intermittent power generation from solar and wind sources, thereby boosting grid stability and energy storage capacity.
Market Driver: Growing demand for high-performance energy storage in electric vehicles fuels supercapacitor adoption
The rising demand for high-performance energy storage solutions in electric vehicles (EVs) is propelling the supercapacitor market. Supercapacitors improve standard EV batteries by delivering burst power for acceleration, capturing energy from regenerative braking, and extending battery life. The International Energy Agency estimates that global electric vehicle sales would reach 6.6 million in 2021, more than tripling from 2020.
The growing popularity of electric vehicles is driving demand for better energy storage systems. For example, Tesla's $218 million acquisition of Maxwell Technologies, a well-known supercapacitor manufacturer, in 2019 highlights the importance of this technology in the automotive sector. Supercapacitors are ideal for EV applications because they can withstand millions of charge-discharge cycles (vs 500-1000 for standard lithium-ion batteries).
Market Restraint: Higher cost compared to conventional capacitors limits widespread adoption
Supercapacitors are more expensive than regular capacitors, which presents a significant obstacle to business growth. Supercapacitors boost power density and cycle life, but they are substantially more expensive per unit of stored energy than standard capacitors or batteries.
According to industry estimates, supercapacitors can cost 5-10 times more than conventional capacitors with the same capacitance rating. This pricing disparity restricts its applicability in price-sensitive applications and markets. Supercapacitors are commonly used in high-end consumer electronics, where cost is a crucial factor. Manufacturers want to lower production costs through economies of scale and technological advancements, allowing supercapacitors to compete in a broader range of applications.
The automotive segment dominates the supercapacitors market, driven by the rapid growth of electric and hybrid vehicles.
The automotive industry dominates the supercapacitors market due to the widespread usage of electric and hybrid vehicles. Supercapacitors significantly increase vehicle energy economy and performance. Supercapacitors are used in automotive applications such as regenerative braking, start-stop systems, and powerade during acceleration. These applications make use of supercapacitors' ability to charge and discharge quickly, allowing them to efficiently handle large power loads.
The rapid growth of the electric vehicle market is a significant driver for this segment. According to our research analysis, global electric vehicle sales will grow from 3.1 million in 2020 to 14 million by 2025. This improvement increases demand for advanced energy storage devices like supercapacitors. For example, Lamborghini's Sián FKP 37 hybrid supercar uses supercapacitors instead of lithium-ion batteries, illustrating the technology's potential in high-performance vehicles.
Supercapacitors are extensively employed in electric buses and trams. Yutong, a Chinese bus manufacturer, has deployed over 1,000 supercapacitor-powered buses in various areas. These buses can be fully charged at bus stops in minutes, demonstrating the technology's utility in fast-charging applications.
Asia-Pacific leads the supercapacitors market, driven by robust manufacturing capabilities and increasing adoption in consumer electronics and automotive sectors.
Asia-Pacific has the largest market share for supercapacitors. This dominance stems from the presence of major supercapacitor manufacturers, a robust consumer electronics industry, and significant growth in the electric vehicle market.
China, Japan, and South Korea each contribute significantly to the region's market leadership. These countries have long-standing electronics manufacturing industries and are pioneers in electric vehicle research. China, in particular, has aggressively promoted electric vehicles, driving growing demand for supercapacitors in the automotive industry.
The region's strong position in the consumer electronics industry has a significant impact on supercapacitor demand. Major smartphone and laptop manufacturers are situated in China, South Korea, and Japan, and they are rapidly adding supercapacitors into portable devices to increase battery life and charging speed.
Recent investments in renewable energy and smart grid technology have strengthened the region's position in the supercapacitor market. For example, China's goal of becoming carbon neutral by 2060 has led to increased investment in energy storage technologies such as supercapacitors.
The Asia-Pacific industrial sector is also driving increased demand for supercapacitors, particularly in applications such as industrial automation, robotics, and power quality control. Panasonic and Murata Manufacturing are pioneering supercapacitor technology in industrial applications.
The supercapacitors market is characterized by severe competition among the leading competitors, with a focus on technological innovation and product development. Leading companies are investing heavily in R&D to boost energy density, reduce costs, and expand the applications of supercapacitors.
Maxwell Technologies (now a division of Tesla Inc.) was a pioneer in supercapacitor technology. The company's acquisition by Tesla in 2019 for $218 million highlights the strategic importance of supercapacitors in the electric vehicle sector. Maxwell ultracapacitors are widely used in automotive, wind turbine, and industrial applications.
Panasonic Corporation is a key player in the supercapacitor market, offering a diverse array of products for a wide range of applications. The company's focus on creating high-performance, compact supercapacitors has helped it maintain its position in the consumer electronics and automotive industries.
Skeleton Technologies, a European start-up, has made significant progress with graphene-based supercapacitors. In 2020, the firm raised €41.3 million in Series D funding to expand its manufacturing capacity and accelerate product development.
LS Mtron, a South Korean supercapacitor manufacturer, is expanding its range by focusing on the automotive and renewable energy sectors. The company's approach of focussing on high-voltage supercapacitors has allowed it to gain market share in industrial applications.
Nippon Chemi-Con Corporation has been researching novel carbon compounds to improve supercapacitor performance while lowering prices. The company's products are used in the automotive, industrial, and consumer electronics markets.
The supercapacitors market is likely to expand dramatically and change in the next few years. The growing emphasis on renewable energy integration, transportation electrification, and the demand for high-performance energy storage systems are all key market drivers. We predict a shift towards hybrid energy storage devices, which combine supercapacitors with batteries to deliver maximum performance in a variety of applications.
Ongoing research in advanced materials, such as graphene and carbon nanotubes, is likely to result in advances in supercapacitor technology, perhaps surpassing battery energy density limitations. This could offer up new applications and market opportunities.
We also predict market disruptions due to the rapid expansion of solid-state batteries and other emerging energy storage technologies. However, supercapacitors' distinctive characteristics, such as high power density and long cycle life, are projected to ensure their continued use in specialist applications.
Maxwell Technologies (Tesla, Inc.)
Panasonic Corporation
Skeleton Technologies
LS Mtron
Nippon Chemi-Con Corporation
CAP-XX Limited
SABIC
Ioxus Inc.
Yunasko
VINATech Co., Ltd.
Skeleton Technologies and Siemens collaborated in July 2023 to provide supercapacitor-based energy storage solutions for industrial applications.
Panasonic will launch a new generation of high-capacity supercapacitors for automotive applications in March 2023, with a focus on the growing electric vehicle market.
1. INTRODUCTION
1.1. Market Definitions & Study Assumptions
1.2. Market Research Scope & Segment
1.3. Research Methodology
2. EXECUTIVE SUMMARY
2.1. Market Overview & Insights
2.2. Segment Outlook
2.3. Region Outlook
3. COMPETITIVE INTELLIGENCE
3.1. Companies Financial Position
3.2. Company Benchmarking -- Key Players
3.3. Market Share Analysis -- Key Companies
3.4. Recent Companies Key Activities
3.5. Pricing Analysis
3.6. SWOT Analysis
4. COMPANY PROFILES (Key Companies list by Country) (Premium)
5. COMPANY PROFILES
5.1. Maxwell Technologies (Tesla, Inc.)
5.2. Panasonic Corporation
5.3. Skeleton Technologies
5.4. LS Mtron
5.5. Nippon Chemi-Con Corporation
5.6. CAP-XX Limited
5.7. SABIC
5.8. Ioxus Inc.
5.9. Yunasko
5.10. VINATech Co., Ltd. (LIST NOT EXHAUSTIVE)
6. MARKET DYNAMICS
6.1. Market Trends
6.1.1. Integration of supercapacitors in hybrid energy storage systems boosts market growth
6.1.2. Advancements in graphene-based supercapacitors enhance performance capabilities
6.1.3. Increasing adoption of supercapacitors in renewable energy systems
6.2. Market Drivers
6.2.1. Growing demand for high-performance energy storage in electric vehicles fuels supercapacitor adoption
6.2.2. Rising need for efficient power management in consumer electronics
6.2.3. Expanding applications in industrial and grid energy storage systems
6.3. Market Restraints
6.3.1. Higher cost compared to conventional capacitors limits widespread adoption
6.3.2. Technical limitations in energy density compared to batteries
6.4. Market Opportunities
6.5. Porter's Five Forces Analysis
6.5.1. Threat of New Entrants
6.5.2. Bargaining Power of Buyers/Consumers
6.5.3. Bargaining Power of Suppliers
6.5.4. Threat of Substitute Products
6.5.5. Intensity of Competitive Rivalry
6.6. Supply Chain Analysis
6.7. Value Chain Analysis
6.8. Trade Analysis
6.9. Pricing Analysis
6.10. Regulatory Analysis
6.11. Patent Analysis
6.12. SWOT Analysis
6.13. PESTLE Analysis
7. BY TYPE (MARKET SIZE/VALUE (US$ Mn), SHARE (%), MARKET FORECAST (%), YOY GROWTH (%)-- 2020-2031)
7.1. Electric Double Layer Capacitors
7.1.1. Activated Carbon-based EDLCs
7.1.2. Carbon Nanotube-based EDLCs
7.1.3. Graphene-based EDLCs
7.2. Pseudocapacitors
7.2.1. Metal Oxide-based Pseudocapacitors
7.2.2. Conductive Polymer-based Pseudocapacitors
7.3. Hybrid Capacitors
7.3.1. Lithium-ion Capacitors
7.3.2. Asymmetric Hybrid Capacitors
8. BY APPLICATION (MARKET SIZE/VALUE (US$ Mn), SHARE (%), MARKET FORECAST (%), YOY GROWTH (%)-- 2020-2031)
8.1. Consumer Electronics
8.1.1. Smartphones and Tablets
8.1.2. Laptops and Computers
8.1.3. Wearable Devices
8.2. Automotive
8.2.1. Electric and Hybrid Vehicles
8.2.2. Start-Stop Systems
8.2.3. Regenerative Braking Systems
8.3. Industrial
8.3.1. UPS and Backup Power
8.3.2. Material Handling Equipment
8.3.3. Industrial Automation
8.4. Energy
8.4.1. Renewable Energy Systems
8.4.2. Smart Grid and Power Quality Management
8.4.3. Energy Harvesting
8.5. Medical
8.5.1. Portable Medical Devices
8.5.2. Implantable Medical Devices
8.5.3. Medical Imaging Equipment
9. REGION (MARKET SIZE/VALUE (US$ Mn), SHARE (%), MARKET FORECAST (%), YOY GROWTH (%)-- 2020-2031)
9.1. North America
9.1.1. United States
9.1.2. Canada
9.1.3. Mexico
9.2. South America
9.2.1. Brazil
9.2.2. Argentina
9.2.3. Rest of South America
9.3. Europe
9.3.1. Germany
9.3.2. United Kingdom
9.3.3. France
9.3.4. Italy
9.3.5. Spain
9.3.6. Russia
9.3.7. Rest of Europe
9.4. Asia-Pacific
9.4.1. China
9.4.2. Japan
9.4.3. India
9.4.4. Australia
9.4.5. South Korea
9.4.6. Rest of Asia-Pacific
9.5. Middle-East
9.5.1. UAE
9.5.2. Saudi Arabia
9.5.3. Turkey
9.5.4. Rest of Middle East
9.6. Africa
9.6.1. South Africa
9.6.2. Egypt
9.6.3. Rest of Africa
*NOTE: All the regions mentioned in the scope will be provided with (MARKET SIZE/VALUE (US$ Mn), SHARE (%), MARKET FORECAST (%), YOY GROWTH (%)-- 2020-2031)
By Type:
Electric Double Layer Capacitors
Pseudocapacitors
Hybrid Capacitors
By Application:
Consumer Electronics
Automotive
Industrial
Energy
Medical
By Region:
North America
Europe
Asia-Pacific
Latin America
Middle East & Africa
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