Global Supercapacitor Market - Growth, Trends, and Forecast (Outlook to 2028)

Global Supercapacitor Market - Growth, Trends, and Forecast (Outlook to 2028)

The supercapacitors or ultracapacitors market is driven by growing demand for smart grids and microgrids has increased the demand for supercapacitors to reduce power outages and improve power quality (frequency regulation, Peak demand, and voltage sag). Additionally, the growing demand for supercapacitors to reduce power surges from external environmental conditions such as lighting and also helps to operate the start and stop of the motor or engine, and speed regulation has increased the demand from distributed automations (IOT) in industries, medical, wind power plants and electric vehicles are driving the market of supercapacitors.

Increased demand for supercapacitors in automotive applications has been a major factor driving the growth of the supercapacitor market. Supercapacitors are suitable for automotive applications due to their long shelf life, high power density, and fast charging capabilities. In addition, favorable government regulations and the rising demand for renewable energy systems are also expected to boost the market growth. Furthermore, the steady rise in gasoline prices worldwide has led governments to enact regulations that encourage environmentally friendly, fuel-efficient transportation.

The supercapacitor is an advanced technology for various energy storage systems, which has improved power density over batteries and higher energy density than conventional capacitors. Solar PV panels and solar lighting are two possible areas where supercapacitors grow rapidly. In addition, there is a greater awareness among users of energy storage equipment about reducing emissions due to environmental concerns.

A supercapacitor or ultracapacitor is an electronic device that stores electric energy in two metal plates coated with activated carbon and is immersed in an electrolyte made of positive and negative ions dissolved in a solvent.

A surge in consumers' expectations, along with an increase in demand for consumer electronic products, has resulted in the need for a rapid and stable supply of energy, which has created a market for supercapacitors.

Supercapacitors are used for regenerative braking and burst-mode power delivery or short-term energy storage for cranes, trains, buses, cars, elevators, hybrid electric vehicles (HEV), forklifts, shovel trucks, agricultural machinery, excavators, mining shovels, harbor cranes, and industrial lasers.

Smaller units of supercapacitors are used as memory backup for static random-access memory (SRAM). Moreover, supercapacitors are also used in solar power applications, batteries, battery backup, and flashlights.

It provides a steady electricity supply by utilizing the charge accumulated in its electrochemical layers. It is a type of capacitor that can hold a lot of charges, typically 10 to 100 times the charge per unit mass compared to electrolytic capacitors.

Supercapacitors are superior to conventional batteries because they provide stable power, handle more fluctuations and discharges, and operate at a wide variety of temperatures. Therefore, they are commonly used in smartphones, laptops, electronic devices, and automobiles that require rapid charging to function.

Batteries and Super Capacitors are used as supplements in electronic devices and can also be used for short-term back-up power, as supercapacitor circuits offer fast charging ability.

The increasing utilization of supercapacitors by the utility sector is acting as another growth-inducing factor. In microgrid monitoring and stabilization, they are commonly used for ramping, generator bridging, regulation, primary frequency response, and voltage sag mitigation.

Supercapacitors or ultracapacitors are likely to gain a market share from the gigantic battery market because of their high power density and their ability to be used in parallel with batteries. The main advantages of supercapacitors are:

Extend battery run time and battery life

Reduce battery size, weight, and cost

Enable low/high-temperature operation

Improve load balancing when used in parallel with a battery

Lessen RF noise by eliminating DC/DC

Minimize space requirements

Meet environmental standards

Value Proposition of Supercapacitors:

Highest Capacitor Density of any Capacitor

Lowest cost per farad

Wide operating temperature

Uninterrupted supply

Safe operation

Benefits of Supercapacitors:

High power density

Long cycle life

Fast charging speed

Good low-temperature performance

Simple charging and discharging circuit

Reduce the disturbances caused by microgrids.

The global supercapacitor market involves the sales of supercapacitors that use them for automobiles, trains, airplanes, security systems, electronic devices, energy harvesting, charging stations, and electric vehicles. Global supercapacitor market growth is likely to be driven by increasing product types and availability across a range of voltages and power ratings.

Based on product types:

Symmetric types:

Asymmetric types:

Hybrid types:

In 2021, the hybrid capacitor market was expected to witness a faster CAGR during the forecast period. This is mainly due to consumer electronics such as mobile phones, laptops, wearable devices, thermal printers, and GPS chips using hybrid capacitors increasingly.

In 2021, The automobile & transportation segment was anticipated to grow faster CAGR during the forecast period. The railways and buses act as an important aspect of the supercapacitor market. The emerging technology pantograph deploys the buses, and metro trains in urban cities have drawn people's attention to safety, energy conservation, efficiency, and freight wagon tracks.

The Asia Pacific region is predicted to lead the global supercapacitor market over the forecast period. The continuous infrastructural development and rapid industrialization are the two factors that are expanding the consumer electronics and automotive sector, especially in China, which has propelled the demand for the market in this region.

Supercapacitor Market Opportunities:

Recognition of hybrid supercapacitors as a viable substitute for conventional batteries.

Growing demand for micro-supercapacitors in medical equipments

In transmission lines to operate relays and circuit breakers.

Increase in use of supercapacitors as pitch control for wind turbines.

Hybridization of supercapacitors with flow batteries.

Supercapacitor Market Challenges:

Requirement of consistent electric power optimization and their high cost.

Increasing R&D expenditure on batteries to increase the power density.

Supercapacitor Market Restraints:

Limitations of capacitors for long-term energy usage.

Higher costs are associated with the products compared to other storage devices.

Recent Developments:

In July 2021, UCAP-Power said it acquired Maxwell Technologies, a subsidiary of Tesla.

In March 2021, YAGEO Corporation said it acquired KEMET, Chillisan shares and is also trying to acquire various passive element and semiconductor companies.

In April 2020, Skeleton Technologies Inc. partnered with Taltech and Tartu University to develop flexible ultracapacitors for space technologies using curved graphene to make bendable electrodes.

In April 2020, Electrochem Solution, an Integer Holdings Corporation (ITGR) company, and Nanoramic Laboratories announced that the two companies had signed a technology licensing partnership that allows Electrochem to manufacture, sell and distribute Nanoramic's FastCAP EE Series ultracapacitors worldwide.

The leading wind turbine manufacturer, Suzlon, is using supercapacitors for its wind turbines. Due to the increasing awareness and proven efficiency of supercapacitors, an increase in the use of supercapacitors for wind turbines

Blackridge Research's Global supercapacitor Market report provides insights into the current global and regional market demand scenario and its outlook.

The study presents a detailed analysis of various factors that affect supercapacitor market revenue. The study also comprehensively analyses the supercapacitor market by segmenting it based on geography (North America, South America, Europe, Asia Pacific, Rest of the World), By Product Type (Electronic Double Layer Capacitor, Hybrid Capacitor, Others), By End use (Transportation, Electronics, Utilities, Industrial, and Others).

The report also addresses present and future market opportunities, market trends, developments, and the impact of Covid-19 on the supercapacitor market, critical commercial developments, trends, regions, and segments poised for the fastest-growing, competitive landscape.

Further, the report will include the global supercapacitor market size (CAGR), demand forecast, growth rates, and trade (imports and exports).
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