Supercapacitor Market worth $1.27 Billion by 2030 – Exclusive Report by The Insight Partners
The global supercapacitor market is growing at a CAGR of 13.6% from 2022 to 2030
Pune, India, Oct. 05, 2023 (GLOBE NEWSWIRE) — Supercapacitors, also known as ultracapacitors or electrochemical capacitors, use high surface area electrode materials and thin electrolytic dielectrics to attain capacitances several orders of magnitude larger than traditional capacitors. In this process, supercapacitors can accomplish better energy densities while maintaining conventional capacitors’ characteristic high-power density. The supercapacitor, as one of the components in power electronics for renewable energy devices, aids in using cheap energy sources such as solar energy, which reduces carbon emissions.
Supercapacitor Market in terms of revenue was estimated to be worth $0.44957 billion in 2022 and is poised to reach $1.2704 billion by 2030, growing at a CAGR of 13.6% from 2022 to 2030 according to a new report published by The Insight Partners.
Supercapacitors (SCs) have received great interest due to their improved electrochemical performance, exceptional specific power, higher cycling life, and faster discharging rate. The energy density of supercapacitors is comparable to batteries; however, their cyclability and power density are higher by numerous orders of magnitude compared to batteries, making them a flexible energy storage alternative, provided a suitable design and effective materials are used. Thus, the supercapacitor market is expected to grow during the forecast period.
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Global Supercapacitor Market Scope:
|Market Size Value in||USD 0.44957 Billion in 2022|
|Market Size Value by||USD 1.2704 Billion by 2030|
|Growth rate||CAGR of 13.6% from 2022 to 2030|
|Segments covered||Type, Material, Application, and Geography|
|Regional scope||North America, Europe, Asia Pacific, Middle East & Africa, South & Central America.|
|Country scope||Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Saudi Arabia, South Africa, South Korea, Spain, United Arab Emirates, United Kingdom, United States|
|Report coverage||Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends|
The global supercapacitor market is anticipated to grow significantly in the coming years due to the increasing demand for supercapacitors in numerous applications. These supercapacitors are available in varying capacitances, sizes, & voltage ranges and are sometimes custom-made for specific applications. The supercapacitor markets in the Asia Pacific region are anticipated to grow at the highest rates, with China at the front. A few key players, such as Nippon Chemi-Con, Murata Technology, Eaton Corporation, Maxwell Technologies, and Nesscap, among others, dominate the supercapacitor market. These major players are focusing enormously on supercapacitors’ research and development (R&D) to meet further demands and maintain their competitive advantage over the others in the supercapacitor market.
Another area which employs supercapacitors is in hybrid electric vehicles (HEV). Such vehicles make use of gasoline and power electronics devices in conjunction. By such means, fuel economy is enhanced, releasing less carbon into the atmosphere than conventional vehicles.
A novel technology, the supercapacitor, has emerged with the potential to enable major developments in energy storage. Supercapacitors are ruled by similar essential equations as traditional capacitors but use higher surface area electrodes to attain greater capacitances. This trend allows for power densities greater than batteries and energy densities greater than those of conventional capacitors. As a result, supercapacitors are anticipated to become an attractive power solution for numerous applications during the forecast period.
Introduction of Micro-Supercapacitor to Provide Lucrative Opportunities for Supercapacitor Market:
Micro supercapacitors (MSCs) have developed as the next generation of electrochemical energy storage sources for powering miniaturized Internet of Things (IoT) and embedded electronics devices. Thus, supercapacitor market players and government authorities are focusing on developing advanced micro-supercapacitors. For instance, Researchers at the Department of Instrumentation and Applied Physics (IAP) in the Indian Institute of Science (IISc) developed a minute device capable of storing a massive amount of electric charge. The new ultra-micro supercapacitor is smaller and more compact than existing supercapacitors. It can be used in devices ranging from streetlights to consumer electronics, medical devices, and electric cars. These supercapacitors are capable of storing and releasing large amounts of energy, making them extremely exclusive for next-generation electronic devices.
Further, In January 2022, the research team from KAIST, a science and technology university in Korea, developed a graphene-inorganic-hybrid micro-supercapacitor made of leaves with femtosecond direct laser writing lithography. With the increasing demand for the advancement of wearable electronic devices, innovations in flexible energy storage devices are on the surge. In addition, micro-supercapacitors have drawn an excessive deal of interest among numerous energy storage devices for their long lifetimes, high electrical power density, and short charging times. Therefore, technological advancement in the micro supercapacitor is expected to fuel the growth of the supercapacitor market during the forecast period.
Further, market players in the supercapacitor market are focusing on technological development in the supercapacitor for the automotive industry. For instance, in February 2023, a key global manufacturer of innovative electronic components, KYOCERA AVX, launched its first automotive-qualified supercapacitors, which are also known as electrochemical, cylindrical, double-layer capacitors, to accelerate technological innovation. The new automotive-qualified SCC Series supercapacitors are tested and qualified to the stringent AEC-Q200 standard, which proves their reliability and ability to withstand test conditions designed to replicate challenging electrical and mechanical conditions common in automotive applications. The five new automotive-qualified SCC Series supercapacitors are rated for 2.7V and 25F, 2.7V and 100F, 3V and 10F, 35F and 3V, and 100F and 3V. They also comply with RoHS, UL 810A, and REACH requirements.
Further, in March 2023, KEMET announced its availability of a new high-performance supercapacitor for automotive electronics, FMU Series. These new supercapacitors are competent for an automotive testing protocol. They are perfect for automotive applications requiring a key power system backup during a power loss, such as autonomous vehicles, ADAS, and central gateway ECUs. These capacitors are produced in an ISO TS 16949-certified plant and are subjected to PPAP/PSW and change control.
Supercapacitor Market: Segmental Overview
The supercapacitor market is segmented into automotive, industrial, energy, medical, consumer electronics, and aerospace & defense based on application. The rising application of supercapacitors within the automotive industry, coupled with the electrification of the vehicle, is driving the automotive supercapacitor market growth. Furthermore, technological advancements in the automobile industry and rising investments by manufacturers in R&D about the enhancement of supercapacitors are further propelling the supercapacitor market growth. A supercapacitor is an advanced capacitor capable of simultaneously holding a large electric charge. Several qualities, such as high-power density, long shelf life, and fast charging function, make automotive applications feasible. These key characteristics of a supercapacitor enable automotive applications in systems such as kinetic energy recovery, light, ignition, adaptive suspension, and hybrid and electric vehicle drive support, among others. The automotive industry is presently focused on developing a supercapacitor solution to be a mainstream electric power option in future vehicles. Major drivers for supercapacitor application within the automotive industry are vehicle electrification, advanced self-driving technology, and smart connected vehicles.
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Supercapacitor Market Analysis: Competitive Landscape and Key Developments
SPEL Technologies Private Limited, AVX Corporation, CAP-XX Ltd, KORCHIP Corporation, Skeleton Technologies, Nippon Chemi-Con Corporation, PANASONIC CORPORATION, Evans Capacitor Company, LS Mtron Ltd, and IOXUS Inc. are a few of the key companies operating in the supercapacitor market. The supercapacitor market leaders focus on expansion and diversification, new product launches, and acquisition strategies, which allow them to access prevailing business opportunities.
July 2022 – Siemens and Skeleton Technologies entered a technology partner agreement to plan, develop, and implement a digitized, fully automated manufacturing plant to manufacture supercapacitors in Germany. The collaboration intends to digitize Skeleton’s overall value chain, from supercapacitor cell designing to production and services, and scale up the advanced supercapacitor production.
Go through further research published by The Insight Partners:
Automotive Supercapacitor Market – Global Analysis and Forecast to 2030.
Supercapacitor Materials Market – Global Analysis and Forecast to 2030.
Super Capacitors Energy Storage System Market – Global Analysis and Forecast to 2030.
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