At 23.9% CAGR, Supercapacitors Market Size to hit USD 22.50 Billion in 2028, Says Brandessence Market Research

At 23.9% CAGR, Supercapacitors Market Size to hit USD 22.50 Billion in 2028, Says Brandessence Market Research

PR Newswire

LONDON, Jan. 5, 2022

LONDON, Jan. 5, 2022 /PRNewswire/ -- Supercapacitor Market Size, Share, Companies & Trends Analysis Report By Type( Double Layer Capacitors, Pseudocapacitors, Hybrid Capacitors {Composite Hybrids, Asymmetric Hybrids, Battery- Type Hybrids } ) By Application(Energy Storage, Power System, Electronic Device, Laptop, Audio System, Camera, Solar Watch, Smoke Detector, Power Backup, Engine, UPS, Buses, EV/HEV, Trains And Locomotives, Defibrillators, Aircraft) By On The Basis Of Vertical(Consumer Electronics, Industrial, Automotive, Energy, Medical, Aerospace & Defense) By Material Used In Supercapacitors( Activated Carbon, Carbide Derived Carbon, Carbon Aerogel, Graphene, Metal Oxides, Conductive Polymers) Based On Region, And Segment Forecasts, 2021 – 2028.

Brandessence Market Research

The Supercapacitor Market size is witness robust growth at a CAGR of 23.9% during the 2021-2028 period. The Supercapacitor Market size reached a valuation of USD 5.02 Billion in 2021, and is likely to grow to USD 22.50 Billion by 2028 end, Analysis by Brandessence Market Research. Increasing production of supercapacitor based hybrid electric vehicles, smart grids, and renewable energy systems owing to environmental concerns are expected to boost the growth of supercapacitors market over forecast period.

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Supercapacitors are important for many upcoming electric applications, mainly the electric vehicles. Even amidst the pandemic, electric vehicles have beaten all industry forecasts to register growth of 40% y-o-y. In 2020, over 3 million electric vehicles were sold. On the other hand, the sales of conventional cars hit a rock-bottom, with declines of 16% in the global economy in 2020. Many governments around the world have announced plans to upgrade power infrastructure, and purchase electric vehicles to upgrade public transport. Furthermore, most global vehicle manufacturers have announced launch of their own electric vehicles, with major players like Toyota, among others jumping into the fray. Growing sales of electric vehicles, increased support for advanced power generation, storage, and growing purchases of electric public transport by government signal a tremendous growth prospect for players in the supercapacitor market.

Global Supercapacitor Market Segmentation:

By Type: Double layer capacitors, Pseudocapacitors, Hybrid capacitors (Composite Hybrids, Asymmetric Hybrids, Battery- type Hybrids )

By Application: Energy Storage, Power System, Electronic Device, Laptop, Audio system, Camera, Solar Watch, Smoke Detector, Power Backup, Engine, UPS, Buses, EV/HEV, Trains and Locomotives, Defibrillators, Aircraft

By On the Basis of Vertical: Consumer Electronics, Industrial, Automotive, Energy, Medical, Aerospace & Defense

By Material Used in Supercapacitors: Activated carbon, Carbide derived carbon, Carbon aerogel, Graphene, Metal Oxides,  Conductive Polymers

Supercapacitor Market: Competitive Analysis

Key players in the supercapacitor market like Hitachi, Siemens, and GE have moved onto digital technologies to support the next-generation of electric infrastructure. Companies like Hitachi introduced its new solution, which combines technologies like supercapacitor, and STATCOM based energy storage. The new product provides both reactive power, and active power to transmission systems. The technology in combination with digital grids can power rising demand for power quality, meet energy shortages, and incorporate renewable energy, as well as provide power grid stabilization. The growing focus on next-generation infrastructure focused R&D, increasing demand for energy in emerging nations, and increased sustainability of demand remain key drivers of growth for the supercapacitor market.

The supercapacitor market landscape is fragmented, and innovative. The growing demand for the next-super vehicle, and charging infrastructure, along with a clear regulatory move globally to shift to electric future, remains key drivers of this growth. In countries like the US, companies like Tesla have already launched vehicles that provide over 500 miles of range, with new prospects emerging every day. Furthermore, many new startups continue to work in new areas of efficiency, safety, digital connectivity, integration of new materials to promise rapid advancements of super capacitor technology in the near future. Some key players in the global supercapacitor market are:

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Supercapacitor Market: Key Trends

Among supercapacitors, the hybrid segment promises highest growth during the forecast period. The hybrid supercapacitors are ideal for end-use in consumer electronics, LED flashlights, wearable devices, laptops, GPS chips, IoT devices, among various others. These capacitors meet the growing demand for grid stability, with higher recharge cycles, and higher storage. As the demand for power stabilization remains highest in electronics devices, which are becoming increasingly complex, while manufacturers search for advanced semiconductors to transmit digital signals; the demand for hybrid supercapacitors is likely to remain highest. The lack of raw materials to produce hybrid supercapacitors remains a restraint to growth, as high-costs, and growing demand for low-cost devices in emerging nations continue to remain at slight odds with each other.

The growing demand for electric public transport also remains a key driver to growth for supercapacitor market. Supercapacitor with their large sizes can be ideal for large vehicles like commercial trucks, buses, and even metros. The growing demand for power quality, growing reliance on renewable energy grids, and increased upgradation of infrastructure are likely to create more opportunities for players in the supercapacitor market.

In 2020, the sales of electric buses reached 82,000, reaching a new record, with a growth of 10% from previous year. Moreover, the total stock of electric buses reached 600,000 globally, with coutries like China accounting for a majority of growth. While conventionally, China dominated the growth, countries in EU, Latin America, and emerging nations like India are expected to account for a significant share of purchases in the near future.

Similarly, the electric truck registration also grew by 10% in 2019, with growing availability, and demand for heavy, and medium trucks. New registrations remained high in Europe, and North America, wherein OEMs continued to launch new products to meet growing appetite for electrical energy, even among a section of consumers that is known for its high-confidence in diesel-based vehicles.

Supercapacitor Market: Regional Analysis

The supercapacitor market report is divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Among these, the Asia Pacific region remains fastest-growing market, in relation to demand for electricity. On the other hand, the tremendous investment in renewable energy, and storage in both North America, and Europe promise considerable opportunities for players in the supercapacitor market. In 2021, while the demand in North America, and Europe remained at stable levels, the small declines in demand in these regions were more than made by increased energy-hungry dynamic in the Asia Pacific region. Moreover, the European, and American government have announced ambitious strategic investments in smart electricity networks, supported by increased spending, deployment, and innovation. Enel and Iberdrola, recently established new hubs, and platforms to support the smart grid deployment. The technology is expected to power accurate virtual digital platforms, acting as replicas for conventional physical power networks. These networks powered by knowledge hubs supporting innovation, and higher technological capacities remain a promising driver for suppliers, collaborations, startups, and advancements in supercapacitor technology.

On Special Requirement Supercapacitor Market Report is also available for below region:

North America

Europe

Asia-Pacific

Latin America

Middle East and Africa

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