The market value of US$ 2.01 billion in 2023 and US$ 7.99 billion in 2033, the worldwide supercapacitor market share is anticipated to grow at a CAGR of 14.8 percent. During the projected period, the market is anticipated to profit from the rise in demand for a reliable power source for products including laptops, mobile devices, and portable media players.
The largest end-use markets for supercapacitors are solar and wind power facilities. In order to power microgrids for the production of renewable energy, these capacitors are mostly employed. Supercapacitors may be employed as trustworthy energy storage solutions in solar photovoltaic panels and solar lights, among other applications. As the global use of wind energy for renewable energy sources increases, supercapacitors are emerging as a key technology for big wind turbine pitch control applications.
Furthermore, market participants are releasing modernized items that are expected to grow the sector in the ensuing years. An updated 3-volt ultracapacitor platform for wind turbines, for instance, was introduced by Maxwell in 2019. Users may increase energy and power in the same form factor as the 2.7-volt product line thanks to the advent of these next-generation ultracapacitors and can save costs by employing fewer ultracapacitor cells or modules in their system designs. These factors will likely cause the market for supercapacitors to grow significantly throughout the projected period.
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In the projected period, it is probable that rising electric vehicle usage and the implementation of strict government regulations to reduce carbon emissions would balance out the market’s inhibitors and support market expansion. In terms of region, North America is anticipated to rule the global market during the projection. During the predicted period, the region is expected to display a 12% CAGR.
The International Renewable Energy Agency (IRENA) reported in March 2020 that the United States had installed 29 gigawatts of renewable energy in the same year, an increase of 80% over 2019. This included 115 gigawatts of solar energy and roughly 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.
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.
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 super caps 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).
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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
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- Asia Pacific Excluding Japan (APEJ)
- Middle East & Africa
- Japan
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Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization, and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel, and End Use over the next 10 years.
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