Supercapacitors Market Size to Surpass Around US$ 15.9 Bn by 2027

The Supercapacitors Market size is projected to surpass around US$ 15.9 billion by 2027, growing at a CAGR of 23.2% during the forecast period 2020 to 2027.

OTTAWA, Dec. 08, 2020 (GLOBE NEWSWIRE) -- The global supercapacitors market size was valued at US$ 3.5 billion in 2019 according to new study by Precedence Research. 

Supercapacitors are used in cranes, trains, buses, automobiles, elevators, and hybrid electric vehicles (HEV) for regenerative braking, burst-mode power transfer, or short-term energy storage. Smaller supercapacitor modules are used as static random-access memory (SRAM) backup memory. In addition, supercapacitors are also used in solar power, batteries, battery back-up, and flash-light applications. The growth of the market for supercapacitors is driven by the growing demand for energy harvesting applications and the rising use of supercapacitors in trains and aircraft. In addition, the growing global demand for electric vehicles is expected to fuel market growth.

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Growth Factors

Increased demand for supercapacitors in automotive applications, increased demand for renewable energy systems, and favourable government regulations are the most prominent factors driving the growth of the supercapacitor industry. Advanced advances in storage technology with emerging market segments such as hybrid electric vehicles (HEV), smart grids and renewable energy systems and the capacity of supercapacitors to provide emergency shutdown power or backup to low-power equipment such as RAM, SRAM, microcontrollers and PC cards are the major driving factors for the global supercapacitors market. However, the factors expected to hamper market growth are high initial costs of materials and poor knowledge of supercapacitors. In addition, an increase in demand for newer solar and wind energy applications and an increase in demand for micro supercapacitors are expected to provide lucrative prospects for the future growth of the supercapacitor industry.

In addition, supercapacitors are more agile than traditional batteries; one of the factors contributing to the market size is the increasing demand for stabilised power supply in applications with fluctuating loads, such as laptop computers, GPS, portable media players, handheld devices.

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Report Highlights

  • Asia-Pacific accounted for the highest share in 2019, owing to increase in automotive business and growth in the electronic sector in China and India has fostered the supercapacitor industry growth in recent years.
  • The pseudocapacitors segment dominated the market in terms of revenue in 2019, and is expected to follow the same trend during the forecast period.
  • The 10 volts to 25 volts modules segment accounted for the highest market share in 2019, whereas the above 100 volts modules segment is expected to grow at the highest CAGR from 2020 to 2027
  • The automotive segment among other application type of the supercapacitor market is projected to grow at the highest CAGR during the forecast period.
  • The hybrid capacitors segment among other segment of the supercapacitor market is projected to grow at the highest CAGR from 2020 to 2025.

Regional Snapshots

Asia-Pacific accounted for the highest share in 2019, as China and India have fostered the growth of the supercapacitor industry in recent years due to a rise in automotive market and growth in the electronics sector. In terms of sales, North America was the second largest contributor and is expected to see substantial growth during the forecast period, as demand for supercapacitors in the large and medium-sized automotive industries has complemented the growth of supercapacitors. The sudden onslaught of the COVID-19 pandemic caused APAC to suffer massive financial losses. Because of the orders given by the country's government, most of the production facilities in mainland China have suspended their production activities. This has created tremendous disruptions across the country in the supply chain of different goods, thereby affecting the market for supercapacitors from different end-use industries.

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Key Players & Strategies

The Supercapacitors industry is highly opportunistic and competitive in nature because of significant advancements and developments in the product to cater the ever-changing consumer demand. Further, with the technological advancements the shape of the consumer electronic products is changing rapidly that again trigger the rate of competition among the market players. Presently, consumers are more inclined towards light weight and small sized products that have forced the manufacturers in the industry to innovate new and flexible technologies. In the wake of same, the industry players invest prominently in the market to develop new and advanced products.

Some of the key players operating in the market are Tesla, CAP-XX, LS Mtron, AVX Corporation, Panasonic Corporation, SPEL Technologies Private Limited, Nippon Chemi-Con Corporation, Skeleton Technologies, Ioxus Inc., LS Mtron Ltd., Evans Capacitor Company, and KORCHIP Corporation and various others.

Market Segmentation

By Product Type

  • Double-Layer Capacitor
  • Pseudocapacitors
  • Hybrid Capacitors

By Module Type

  • Less Than 10 Volts Modules
  • 10 Volts To 25 Volts Modules
  • 25 Volts To 50 Volts Modules
  • 50 Volts To 100 Volts Modules
  • Above 100 Volts Modules

By Material

  • Activated carbon
  • Carbide derived carbon
  • Carbon aerogel
  • Others

By Application

  • Automotive
  • Industrial
  • Energy
  • Consumer Electronics
  • Aerospace and Defense

By Regional

  • North America
    • U.S.
    • Canada
  • Europe
    • U.K.
    • Germany
    • France
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
  • Rest of the World

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