A market value of USD 8,346.29 million in 2024 and 12,784.003 million in 2034, the worldwide supercapacitor market is anticipated to grow at a CAGR of 15.3%. The market is anticipated to experience growth during the projected period as a result of the rising demand for a reliable power supply for equipment including laptops, mobile phones, and portable media players.
The largest supercapacitor users are solar and wind power plants. The majority of the time, these capacitors are employed to power microgrids that produce renewable energy. Supercapacitors may be employed as dependable energy storage solutions in solar photovoltaic panels and solar illumination.
The market is expected to continue to grow throughout the forecast period as supercapacitors gain popularity in big wind turbine pitch control applications and the global adoption of wind energy increases.
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Players in the market are also releasing modernized and updated items, which are anticipated to grow the sector in the near future. A new 3-volt ultracapacitor platform, for instance, was introduced by Maxwell in 2019 for wind turbines.
Users may increase the 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 they can optimize their cost system designs by employing fewer ultracapacitor cells or modules. The market for supercapacitors is expected to grow significantly over the projected period as a result of these factors.
Increased use of electric vehicles and the implementation of strict government regulations to reduce carbon emissions are projected to offset the market growth inhibitors throughout the forecast period. According to regional projections, North America will control the global market during the forecast. Throughout the forecast period, the area is anticipated to display a CAGR of 12%.
The United States of America installed 29 gigawatts of renewable energy in the same year, 80% more than in 2019, according to the International Renewable Energy Agency (IRENA), which also said that 115 gigawatts of solar energy and roughly 14 gigawatts of wind energy were installed.
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.
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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 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.
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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