The global supercapacitor market is likely to exhibit a CAGR of 14.87% while garnering a market value worth US$ 1.75 Billion in 2022 and US$ 7 Billion in 2032. Growing demand for a stable power supply for applications like laptops, mobile devices, and portable media players is expected to benefit the market in the forecast period.
Solar and wind power plants are the most significant users of supercapacitors. These capacitors are majorly used to power microgrids for the generation of renewable energy. Solar photovoltaic panels and solar lightings are potential areas wherein supercapacitors are being used as reliable energy storage solutions. Supercapacitors are becoming a prominent technology in large wind turbine pitch control applications, and the expansion in the global uptake of renewable wind energy is projected to further benefit the market in the forecast period.
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Additionally, players in the market are launching updated and modern products which are projected to augment the industry in the coming time. For instance, in 2019, Maxwell launched a new 3-volt ultracapacitor platform for wind turbines. With the introduction of these next-generation ultracapacitors, users can boost the energy and power in the same form factor as the 2.7-volt product line and can optimize their cost system designs by using fewer ultracapacitor cells or modules. Attributed to such factors, the supercapacitors market is anticipated to expand significantly in the forecast period.
Increasing adoption of electric vehicles and implementation of stringent government rules to curb carbon emissions are likely to counter the hindering factors and favor the market growth in the forecast period. Regionally, North America is projected to dominate the global market during the forecast period. The region is projected to exhibit a CAGR of 12% during the forecast period.
In March 2020, the International Renewable Energy Agency (IRENA) announced that the United States of America installed 29 gigawatts of renewables in the same year, 80% more in 2019, including 115 gigawatts of solar energy and about 14 gigawatts of wind energy.
Key Takeaways from the Market
- The global supercapacitors market is expected to secure US$ 1.75 Billion in 2022.
- The automotive segment in the global supercapacitors market is projected to display a growth rate of 7% during the forecast period
- In APAC, the supercapacitors market is projected to exhibit a CAGR of 5% by 2032
- The supercapacitors market in North America is anticipated to display a CAGR of 12% during the forecast period.
“Increasing inclination towards the adoption of renewable energies and growing demand of supercapacitors in the automotive sector are likely to benefit the global supercapacitors market during the forecast period,” remarks an FMI analyst.
Competition Analysis
Key players in the global supercapacitors market include Maxwell Technologies, KEMET Corporation, CAP-XX, Eaton, AVX Corporation, Murata Manufacturing Co. Ltd., Nippon Chemi-Con, Blue Solutions, Panasonic Corporation, LOXUS Inc., LS Mtron, FastCAP Ultracapacitors Corporation, Tecate Group, and VINATech Co. Ltd.
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Recent Developments in the Industry Include:
- In February 2022, CAP-XX inked an agreement with Continental Automotive GmbH, a Tier 1 automotive supplier, to offer CAP-XX DMT220 prismatic supercaps for one of Continental’s key automotive programs.
- In July 2021, Tesla sold the supercapacitor business and the Maxwell Technology brand after two years. Tesla acquired Maxwell Technology in 2019. Tesla sold Maxwell to UCAP Power, Inc, which is based in San Diego, California. The parties have agreed not to disclose the purchase price.
More Valuable Insights
Future Market Insights, in its new offering, presents an unbiased analysis of the global supercapacitors market, presenting a historical analysis from 2017 to 2021 and forecast statistics for the period of 2022-2032.
The study reveals essential insights on the basis of type (Electrical Double Layer Capacitors, Pseudo-capacitors, Hybrid Capacitors), Application (Consumer Electronic Devices, Automobiles, Grid Stabilization, Trains, Locomotive Systems (Cranes and Elevators), Aircraft, Others), End Use (Automotive and Transportation, Industrial, Electronics, Energy and Power, Military and Defense, Aerospace and Aviation, Others), & Region (North America, Europe, Asia Pacific, Middle East & Africa, and Latin America).
Supercapacitors Market Key Segments
By Type:
- Electrical Double Layer Capacitors
- Pseudo-capacitors
- Hybrid Capacitors
By Application:
- Consumer Electronic Devices
- Automobiles
- Grid Stabilization
- Trains
- Locomotive Systems (Cranes and Elevators)
- Aircraft
- Others
By End Use:
- Automotive and Transportation
- Industrial
- Electronics
- Energy and Power
- Military and Defense
- Aerospace and Aviation
- Others
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By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- Asia Pacific excluding Japan (APEJ)
- Middle East & Africa
- Japan
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