Market Insights
Global supercapacitors market is projected to reach a valuation of US$ 18,656.3 million by 2030 and offer a growth opportunity of US$ 15,736.7 million during the forecast period 2022–2030. Further, the market is observed to record a CAGR of 26.1% during the forecast period.
Supercapacitors represent a new class of energy storage devices that can provide short-term bursts of power to assist in performing tasks such as starting up engine or powering electronics. A key component of supercapacitors is the ability to store large amounts of electricity for an extended period of time, which has made them attractive for applications such as energy storage and backup power.
However, there are several challenges facing the supercapacitor market. One issue is that capacitors need to be periodically charged or discharged in order to function correctly. Another is that the technology has been slow to catch on due to its high price tag and limited availability. We expect these challenges to be addressed over the next few years through innovation and partnerships between companies involved in the industry.
Market Dynamics
Drivers
Rising Applications of Supercapacitor Under Various Sectors
Rapidly growing number of applications of supercapacitor across automotive, renewable energy, and creation of smart devices has increased demand and its deployment at a massive scale.
However, in the last few years, the deployment across renewable sector has gained massive popularity. They especially suitable for wind power thanks to their long-life cycle. These supercapacitors store energy during times of high wind, and when the wind speed changes, they discharge to smooth out the system's output power and boost grid system efficiency.
Also, the growing adoption of smart devices makes it favorable to deploy more supercapacitors. Due to its many benefits, such as their ability to turn on instantly, charge quickly, and require fewer sophisticated charging circuits, supercapacitors are positioned between capacitors and batteries among the electronic components. Due to the advent of smart devices, which require lightweight, low-maintenance components, the demand for supercapacitors has considerably expanded in the United States and other industrialized nations.
Rapid Advancements in Storage Technology
Both photovoltaic (solar) and wave-powered applications depend heavily on supercapacitors for energy storage. Both the technologies encounter variations in the power output where supercapacitors tend to reduce.
The usage of supercapacitor ensures greater longevity of components that are used under energy storage application that in turn makes them more feasible and acceptable as clean-energy resources. For Instance, recent advancement under storage application can be seen under Italian company KiteNRG, which is developing an AWE system with up to 500 kW of capacity. According to our analysis, the energy harvesting design requires supercapacitors to handle power surges.
Trends
Rising Demand for Micro Supercapacitors
The key manufacturers in the space of supercapacitors are expanding their capacity for energy storage in tiny gadgets. The focus is on flexible supercapacitors because of their inherently high-power density, which is anticipated to spur the new market trends for supercapacitors market.
Additionally, research and development activities are being done to create inexpensive micro supercapacitors due to the increasing need for them. For Instance, research conducted at Chalmers University of Technology, Sweden revealed a method which represent a breakthrough how supercapacitor can be produced. Under this, attempt have been made to manufacture integrated micro-supercapacitors on silicon wafer using the CMOS-compatible process.
The design and manufacture of high-performance miniaturized supercapacitors, also known as micro-supercapacitors, with advanced device features and sizes, is the focus of numerous research initiatives at present.
Moreover, the flexible micro-supercapacitors (MSCs) have satisfied the current need in the energy storage sectors for portable and flexible wearable electronics devices.
Restraints
High Cost of Materials
Despite numerous advantages linked with the used of supercapacitors like high power, longer life cycle, low maintenance, high operating temperatures, the high cost of supercapacitors continues to restrict the growth of supercapacitors market in long run-in comparison to conventional batteries.
As per our estimate, the cost of non-aqueous based supercapacitors is approximately 2400$/kWh, which is far more than batteries. Comparatively, these aqueous supercapacitors are quite inexpensive due to the simplicity in electrode material processing.
Market Segmentation
Type Analysis
Based on type segment, the supercapacitors market can be divided into Coin Cell Supercapacitors, Winding Supercapacitors, Combined Supercapacitors, Module Supercapacitors, High Temperature super Capacitors, and Hybrid Supercapacitors. Wherein, the combined supercapacitors held the highest market share of 26.6% in 2021.
On the other hand, high-temperature supercapacitors witnessed growth at the highest CAGR of 28.6% in the same year and is projected to continue grow at the same rate over the forecast period, 2022–2030.
Electrode Material Analysis
By electrode material, the supercapacitors market is divided into carbon-based supercapacitors, metal oxide–based supercapacitors, conducting polymer–based supercapacitors and composite-based supercapacitors. The carbon-based supercapacitor held the highest market share of 43.9% in 2021 and is expected to maintain its dominance over the forecast period as well. Carbon materials offer superior electrical connectivity capacity and thermal & chemical stability than any other material at lower cost, which make it one of the lucrative materials to choose from.
Capacitance Analysis
Global supercapacitors market is segmented into low, medium, and high. The low segment held the highest segmental share of 45.4% in 2021 and the market share is projected to reach 48% by the end of 2030.
Low capacitance supercapacitors have low ESR and high capacitance. In addition, it is used as a pulse power supply, auxiliary power supply, main power supply, and memory backup power supply. Thus, the low supercapacitors are used in various fields such as consumer electronics, medical care, military, automotive, and aerospace and defense industries. The internal resistance of a capacitor depends on the electrolyte. Lower the resistance of electrolyte, the higher the power density of a capacitor. Therefore, supercapacitors usually have a very low voltage, which can vary from 1V to 3V.
Industry Analysis
Based on Industry, the supercapacitors market is categorized into automotive, energy, consumer electronics, aerospace & defense, healthcare, and others. The consumer electronics segment held the highest segmental share of 41.7% in 2021.This is due to large deployment of supercapacitor in electronics gadgets, which will continue to boost market growth in forecast period.
Regional Analysis
Asia Pacific is dominating the global supercapacitors market. In 2021, the region held over 54% market share due to the high adoption of consumer electronics products and large population in countries such as China, India, and Indonesia. Also, the increased manufacturing & purchase of electronics products will continue to generate strong demand for supercapacitors across Asia Pacific.
Asia Pacific is home to some of the world's major economies, including China, India, and Japan. These countries are responsible for driving the demand for supercapacitors, as they seek to increase efficiency in their businesses and reduce reliance on traditional energy sources. In addition, regional governments are striving to improve grid reliability and boost economic growth. This demand has resulted in investments by leading companies such as Panasonic Corporation, Rexel SA and Sumitomo Electric Industries, Ltd. into new production facilities or expansions of existing ones in the region.
Looking ahead, Asia Pacific is expected to experience strong growth in Demand for electric vehicles due to government policies encouraging cleaner transportation and mandates such as California's Zero Emission Vehicle mandate that requires all passenger cars sold in 2025 be zero-emission vehicles. Furthermore, increasing awareness about environmental impacts and cheaper battery technology is projected to drive increased adoption of electric cars over conventional gasoline-powered ones. This increased demand for energy storage solutions will benefit supercapacitors significantly as these devices help extend the range of electric vehicles while providing backup power during peak hours when electricity prices are high.
Competitive Landscape
Beijing HCC Energy, Skeleton Technologies Inc., Eaton Corporation plc., F.W. Webb Company are some of the key players in the global market.
As per our findings, top five major players in the market collectively held 43.2% market share in 2021. The market players are adopting various methodologies such as mergers, acquisitions, and development of new products to gain a top edge over their competitor in the fiercely competitive market.
As the global supercapacitors market continues to grow, we recommend that companies pay close attention to key trends and developments in order to capitalize on this trend. For example, companies should focus on expanding their sales channels into new markets, such as the industrial sector and portable devices. Additionally, they should focus on developing innovative products that address specific needs of these markets.
List of Key Companies Profiled:
Recent Strategies Adopted by Key Market Players
Beijing HCC Energy: The company is a high-tech enterprise primarily engaged under production, sales and research in advanced technologies related to supercapacitors. The company offers a wide range of supercapacitors and they are majorly deployed under smart grid, smart meters, wind system/energy storage system, and high-power short-time power supply, among others.
Eaton Corporation plc: The company strives towards becoming a top multinational power management company. Through strategic acquisitions including Ulusoy Elektrik, Innovative Switchgear, and Power Distribution, Inc. in the Electrical Systems and Services segment, as well as the inclusion of Souriau-Sunbank in the aerospace segment, Eaton enhanced its core businesses and offers a wide range of electronics parts, such as supercapacitors, terminal blocks, power magnetics, and circuit protection.
F.W. Webb Company: The company focuses on its extensive inventory and personalized customer service aspect for supercapacitor. Moreover, it also focuses on preferred route of mergers & partnerships for it fulfilling its defined objectives.
Cornell Dubilier: It is a leading provider of capacitor solutions and focuses on its process throughout from design through delivery. CD Aero, LLC, a subsidiary of Cornell Dubilier Electronics Inc, strives to become a leading manufacturer of high-quality capacitors in upcoming years.
Segmentation Overview
The Global supercapacitors market is sub-segmented into:
By Type
By Electrode Material
By Capacitance
By Industry
By Region
North America
Europe
Asia Pacific
Latin America
Middle East & Africa
| Report Attribute | Details |
|---|---|
| Market Size Value in 2021 | US$ 2,415.2 Million |
| Expected Revenue in 2030 | US$ 18,656.3 Million |
| Historic Data | 2017-2020 |
| Base Year | 2021 |
| Forecast Period | 2022-2030 |
| Unit | Value (USD Mn) |
| CAGR | 26.1% |
| Segments covered | By Type, By Electrode Material, By Capacitance, By Industry, By Region |
| Key Companies | ADA TECHNOLOGIES, INC, Beijing HCC Energy, CD Aero, LLC, Cornell Dubilier, Eaton Corporation plc, F.W. Webb Company, Jinzhou Kaimei Power Co. Ltd (KAM), Liaoning Brother Electronics Technology Co. Ltd., Murata Manufacturing Co., Ltd., Nippon Chemi-Con Corporation, Shanghai Pluspark Electronics Co. Ltd., Shenzhen Topmay Electronic Co., Ltd, Skeleton Technologies Inc., Systematic Power Manufacturing, LLC, AVX, Tesla, Inc, Other Major Players |
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Supercapacitors are better than batteries as they have more power, higher energy density, longer life cycles, and faster charge-discharge rates.
Rising demand for micro-supercapacitors is the current trend in the market.
Supercapacitors are used in various industries such as automotive, energy, consumer electronics, aerospace, and healthcare among others.
The global supercapacitors market is studied from 2017-2030.
The global supercapacitors market is projected to grow at a CAGR of 26.1% during the forecast period 2022-2030 and is expected to reach US$ 18,656.3 Million by 2030.
Factors such as rising applications of supercapacitors in the automotive sector, renewable energy, smart devices, and advancements in storage technology boost the market growth.
The low capacitance segment holds the highest CAGR in the global supercapacitors market during the forecast period.
North America is growing with the highest CAGR of 27.7% during the forecast period.
The high cost of electrolyte material leads to heavy pricing which hampers the growth of the market as it requires more investment.
China holds the major share in terms of revenue in the Asia Pacific supercapacitors market.
The global supercapacitor market recorded no significant impact on growth over the forecast period due to COVID-19.
Some of the key players operating in the market are Beijing HCC Energy, Skeleton Technologies Inc., Eaton Corporation plc, F.W. Webb Company, and Cornell Dubilier among others.
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| Report ID: AA1022313 
