Forecast Period
|
2026-2030
|
Market Size
(2024)
|
USD
235 Million
|
Market Size (2030)
|
USD 545.61 Million
|
CAGR (2025-2030)
|
14.9%
|
Fastest Growing
Segment
|
1F
to 100F
|
Largest Market
|
South
India
|
Market Overview
India Supercapacitors Market was
valued at USD 235 Million in 2024 and is expected to reach at USD 545.61
Million in 2030 and project robust growth in the forecast period with a CAGR of
14.9% through 2030. The India Supercapacitors
Market is experiencing significant growth driven by the increasing demand for
energy-efficient solutions across various sectors, including electric vehicles
(EVs), renewable energy, and industrial applications. Supercapacitors, known
for their high power density, rapid charge-discharge cycles, and long lifespan,
are gaining traction as an essential component in energy storage systems. The
adoption of electric vehicles in India is one of the primary factors fueling
the market, as supercapacitors are used for quick energy storage and delivery,
improving EV performance and efficiency. Additionally, the rise in renewable
energy projects, particularly solar and wind, is driving the demand for
supercapacitors for grid stabilization and energy storage solutions. The
growing need for uninterruptible power supplies (UPS) in industries and data
centers is also contributing to market expansion. Furthermore, government
initiatives promoting clean energy and electric mobility are creating a
favorable environment for the adoption of supercapacitor technology. The market
is witnessing advancements in supercapacitor technology, with manufacturers
focusing on improving energy density and reducing costs, which is expected to
further boost market growth. As India's industrialization accelerates and the
demand for sustainable energy solutions increases, the supercapacitors market
is poised for continued expansion in the coming years.
Key Market Drivers
Growth in Electric Vehicle Adoption
The rising adoption of electric vehicles
(EVs) in India is a key driver for the supercapacitors market. As the Indian
government pushes for cleaner and more sustainable transportation solutions,
the demand for electric vehicles has seen substantial growth, which in turn
increases the need for advanced energy storage systems. Supercapacitors, known
for their rapid charge-discharge cycles and high power density, are crucial in
improving EV performance. Unlike traditional batteries, supercapacitors deliver
quick bursts of energy, which enhances acceleration and energy regeneration in
EVs, making them ideal for urban transport applications with frequent
stop-and-go scenarios. Additionally, supercapacitors are highly durable and can
withstand more charge-discharge cycles compared to conventional batteries,
contributing to the longevity and efficiency of electric vehicles. As EV
infrastructure expands across India, including charging stations and supporting
technologies, the role of supercapacitors in optimizing vehicle performance and
charging speed becomes increasingly vital. With the government offering
incentives and subsidies for electric mobility, the demand for EVs is expected
to rise steadily, thereby driving further adoption of supercapacitors to
support the energy storage and power needs of these vehicles. The total EV sales in India crossed 1 million units in 2023, with electric two-wheelers making up the largest share of sales. The government’s push for cleaner transportation, including subsidies under the FAME II (Faster Adoption and Manufacturing of Hybrid and Electric Vehicles) scheme, is a major driver.
Renewable Energy Integration
India's strong push towards renewable
energy sources, especially solar and wind, is another significant driver for
the supercapacitors market. As the country looks to meet its ambitious
sustainability goals, integrating renewable energy into the national grid
becomes essential. Supercapacitors play a crucial role in stabilizing the grid
by storing excess energy generated during peak production times and releasing
it during periods of high demand or low production. This ability to quickly
charge and discharge energy helps balance the fluctuations in power supply that
are common with renewable energy sources, which are intermittent by nature.
Supercapacitors, with their high power density, are increasingly being used in
energy storage systems to support the grid’s stability and efficiency.
Furthermore, supercapacitors provide a more reliable and durable solution
compared to traditional batteries, which can degrade over time. As India
continues to invest in expanding its renewable energy capacity, particularly in
rural and remote areas, the need for efficient energy storage solutions like
supercapacitors is expected to grow. The increasing focus on reducing
dependency on fossil fuels and promoting sustainable energy solutions is likely
to drive the demand for supercapacitors, positioning them as a key technology
in the country's energy transition. The government aims for 30% of all vehicles on Indian roads to be electric by 2030, which could lead to the sale of over 10 million electric vehicles annually by the end of the decade.
Government Policies and Incentives for
Clean Energy
Government policies and incentives aimed
at promoting clean energy solutions and sustainability are significant drivers
for the supercapacitors market in India. The Indian government has introduced a
range of initiatives to reduce carbon emissions and promote the adoption of
green technologies. The push towards electric vehicles (EVs), renewable energy
integration, and energy-efficient infrastructure are part of India’s commitment
to environmental sustainability. Various subsidies, tax incentives, and grants
for electric vehicles and renewable energy projects have spurred the growth of
these sectors, subsequently increasing the demand for supercapacitors as energy
storage solutions. Additionally, the government’s focus on smart cities and
energy-efficient urban infrastructure has opened up new avenues for the
deployment of supercapacitors in applications such as public transportation and
energy storage systems. Policies such as the Faster Adoption and Manufacturing
of Hybrid and Electric Vehicles (FAME) scheme and renewable energy targets have
significantly accelerated the adoption of green technologies across India,
creating a favorable environment for the supercapacitors market. With continued
government support for clean energy technologies, including electric mobility
and renewable power generation, the demand for supercapacitors is expected to
rise, supporting the country’s transition towards a more sustainable and
energy-efficient future. The supercapacitors market in India is growing rapidly, driven by the increasing demand for energy-efficient solutions in electric vehicles and renewable energy systems. The market was valued at approximately USD 50 million in 2023 and is expected to grow at a CAGR of 20-25% during the forecast period.

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Key Market Challenges
High Initial Cost of Supercapacitors
One of the major challenges faced by the
India Supercapacitors Market is the high initial cost associated with
supercapacitor technology. While supercapacitors offer significant advantages
in terms of longevity, rapid charge-discharge cycles, and high power density,
their upfront cost remains considerably higher than traditional batteries. This
cost barrier can deter small and medium-sized businesses, as well as individual
consumers, from adopting supercapacitors for applications such as electric
vehicles (EVs) or renewable energy storage. The manufacturing cost of
supercapacitors is driven by the materials used, such as carbon-based
electrodes and electrolytes, which are often more expensive than conventional
battery materials. Moreover, the technology behind supercapacitors is still
evolving, which further contributes to their high production costs. As a
result, many potential users may opt for less expensive battery solutions,
especially in cost-sensitive markets like India. Although the operational benefits
of supercapacitors, such as longer life cycles and fewer maintenance
requirements, can offset the higher initial costs over time, the financial
barrier remains a challenge for widespread adoption. To mitigate this
challenge, companies in the supercapacitor space need to focus on reducing
manufacturing costs through advancements in materials science and production
techniques. Additionally, government support and subsidies for clean energy
technologies and electric mobility could help lower the cost of supercapacitors
and make them more accessible for mainstream applications in India.
Limited Awareness and Understanding of
Supercapacitors
Another significant challenge hindering
the growth of the India Supercapacitors Market is the limited awareness and
understanding of supercapacitor technology among end-users. While industries
such as automotive and renewable energy are familiar with the technology, many
potential customers, including small businesses and residential consumers,
remain unaware of the benefits and applications of supercapacitors. The
misconception that supercapacitors are only applicable to specific high-power
applications, such as electric vehicles or industrial machinery, has limited
their wider adoption. As a result, many businesses and individuals may overlook
supercapacitors as an energy storage or backup solution, opting for more
familiar technologies like lithium-ion batteries. Furthermore, the market for
supercapacitors in India is still in its early stages, and many businesses are
hesitant to invest in the technology without fully understanding its long-term
advantages. To overcome this challenge, there is a need for increased education
and awareness campaigns to demonstrate the versatility and cost-effectiveness
of supercapacitors. Industry players must focus on building trust and providing
clear information about how supercapacitors can enhance energy efficiency, reduce
operational costs, and improve performance in various applications, such as in
electric vehicles, renewable energy storage, and uninterruptible power supplies
(UPS). Collaboration with government bodies and industry associations to
promote supercapacitor adoption through seminars, workshops, and awareness
programs can help accelerate market growth and create a more informed consumer
base.
Competition from Alternative Energy
Storage Technologies
A significant challenge faced by the
India Supercapacitors Market is the intense competition from alternative energy
storage technologies, particularly lithium-ion batteries. While supercapacitors
excel in providing high power density and rapid charge-discharge cycles, they
currently have limitations in terms of energy density compared to lithium-ion
batteries, which can store much larger amounts of energy over extended periods.
This makes lithium-ion batteries the preferred choice for applications that require
long-duration energy storage, such as in electric vehicles and grid-level
energy storage systems. Despite the advantages of supercapacitors in
applications requiring quick bursts of power, such as acceleration in EVs or
stabilization in renewable energy grids, they are often seen as complementary
rather than standalone solutions. This competition from established and widely
adopted technologies, like lithium-ion batteries, creates a challenge for
supercapacitors in terms of market penetration and adoption, especially in
price-sensitive segments. Furthermore, the rapid advancements in battery
technology, such as the development of solid-state batteries and improvements
in energy density, threaten to overshadow the growth prospects of
supercapacitors. To address this challenge, supercapacitor manufacturers must
focus on improving their energy density and cost-effectiveness to make their
products more competitive with batteries. Collaboration between supercapacitors
and batteries, such as hybrid energy storage systems, could also offer a
balanced solution that leverages the strengths of both technologies, thus
overcoming the limitations posed by competing alternatives and driving growth
in the supercapacitors market.
Key Market Trends
Increasing Adoption of Electric Vehicles
(EVs)
A prominent market trend driving the
growth of the India Supercapacitors Market is the increasing adoption of
electric vehicles (EVs). As India accelerates its shift toward clean and
sustainable transportation, the demand for energy storage solutions that can
support high power applications in EVs is growing. Supercapacitors are becoming
an integral component in EVs due to their ability to provide rapid bursts of
energy for acceleration, regenerative braking, and short-duration power needs.
This is particularly beneficial in urban environments, where frequent
stop-and-go driving patterns are common. Supercapacitors also complement
traditional batteries by enhancing their efficiency and lifespan, as they
handle the high-power demands while batteries focus on long-duration energy
storage. The government’s push for electric mobility through initiatives like
the FAME (Faster Adoption and Manufacturing of Hybrid and Electric Vehicles)
scheme has further accelerated the demand for EVs in India. With an increasing
number of domestic and international manufacturers entering the EV market, the
need for advanced energy storage solutions, including supercapacitors, is
expected to rise. As the EV market matures, supercapacitors will play a crucial
role in improving vehicle performance, reducing charging times, and extending
the overall life of the vehicle’s battery, positioning supercapacitors as a
vital technology in India’s electric vehicle revolution. India’s National Electric Mobility Mission Plan (NEMMP) aims to promote the adoption of 6-7 million electric vehicles by 2020-2030, which has significantly spurred market growth for both EVs and related components like supercapacitors.
Growth in Renewable Energy Sector
The rapid growth of the renewable energy
sector in India is another key market trend driving the demand for
supercapacitors. As India moves towards meeting its ambitious renewable energy
targets, especially in solar and wind energy, the need for reliable energy
storage solutions becomes critical. Supercapacitors are increasingly being
integrated into energy storage systems to balance supply and demand
fluctuations inherent in renewable energy sources. Unlike conventional
batteries, supercapacitors excel at managing high-power fluctuations by quickly
absorbing excess energy during periods of high generation and releasing it when
demand peaks or production falls. This ability to provide quick bursts of
energy makes supercapacitors ideal for stabilizing renewable energy grids and
enhancing grid reliability. Additionally, their long cycle life and low
maintenance make them a cost-effective solution for long-term use in energy
storage systems. As India continues to expand its renewable energy capacity,
especially in off-grid and remote areas, the integration of supercapacitors
will be essential for optimizing the efficiency of renewable power generation
and ensuring consistent energy supply. The growing focus on sustainable energy
practices and government incentives for clean energy further supports the
increasing use of supercapacitors, positioning them as a critical technology in
India’s renewable energy transition.
Advancements in Supercapacitor
Technology
A key market trend in the India
Supercapacitors Market is the continuous advancements in supercapacitor
technology. Manufacturers are focusing on improving the energy density and
overall performance of supercapacitors to make them more competitive with other
energy storage technologies, such as lithium-ion batteries. Innovations in
materials, such as the use of graphene, carbon nanotubes, and advanced
electrolytes, are enhancing the energy storage capabilities of supercapacitors,
allowing them to store more energy in a smaller, lighter package. These
advancements are making supercapacitors more viable for a wider range of
applications, from electric vehicles to industrial machinery and consumer
electronics. Furthermore, new manufacturing techniques are helping reduce
production costs, making supercapacitors more affordable and accessible to a
broader market. With the growing demand for high-performance energy storage
solutions, the ongoing R&D efforts in supercapacitor technology are
expected to drive the market’s expansion in India. As energy storage
technologies continue to evolve, supercapacitors will likely become an
increasingly important component in both existing and emerging applications,
strengthening their position in the broader energy storage market. These
technological advancements will help overcome some of the challenges faced by
supercapacitors, such as their relatively low energy density, and further
solidify their role in powering India’s clean energy and electric mobility
future.
Increasing Focus on Industrial Energy
Efficiency
The growing emphasis on industrial
energy efficiency in India is a significant trend that is driving the demand
for supercapacitors. As industries across the country strive to reduce energy
consumption and operating costs, supercapacitors are being increasingly
integrated into energy management systems. Supercapacitors are well-suited for
applications that require rapid bursts of energy, such as in manufacturing
processes, machinery, and automation systems. By storing energy during periods
of low demand and releasing it when needed, supercapacitors help prevent power
disruptions, improve system reliability, and reduce energy wastage. Their
ability to support uninterruptible power supplies (UPS) and backup power
systems further enhances their appeal in industries where power stability is
critical, such as in data centers and telecommunications. In addition to
providing energy storage, supercapacitors also contribute to the efficiency of
energy-intensive operations by optimizing the performance of electric motors,
compressors, and other equipment. With India’s industrial sector undergoing
rapid modernization and the increasing focus on reducing carbon footprints, the
adoption of supercapacitors as part of industrial energy management solutions
is expected to grow. Moreover, government initiatives promoting energy
efficiency in industries, such as the Perform, Achieve, and Trade (PAT) scheme,
are likely to create further demand for advanced energy storage technologies
like supercapacitors, positioning them as a key enabler of India’s industrial
sustainability goals.
Segmental Insights
End
User Insights
In 2024, the automotive segment emerged
as the dominant end-user segment in the India Supercapacitors Market and is
expected to maintain its dominance throughout the forecast period. This growth
is primarily driven by the rising adoption of electric vehicles (EVs) and the
increasing need for efficient energy storage solutions in the automotive
sector. Supercapacitors play a critical role in enhancing the performance of
EVs, providing rapid bursts of energy during acceleration, regenerative
braking, and high-power demands, which are common in urban driving conditions.
The ability of supercapacitors to charge and discharge quickly, alongside their
long lifecycle and durability, makes them an ideal complement to traditional
lithium-ion batteries in electric vehicles, improving overall vehicle
efficiency and performance. Moreover, the Indian government's initiatives to
promote clean and sustainable transportation, including subsidies and
incentives for EV manufacturers and consumers under programs like FAME (Faster
Adoption and Manufacturing of Hybrid and Electric Vehicles), are significantly boosting
the growth of the automotive segment. This shift towards electric mobility,
combined with the growing number of electric two-wheelers and four-wheelers in
the market, further drives the demand for supercapacitors. Additionally, the
increasing interest in hybrid vehicles, which combine internal combustion
engines with electric powertrains, also benefits from supercapacitor technology
for optimized energy management. As the Indian automotive industry accelerates
its transition to electric vehicles, supercapacitors are expected to remain a
crucial component for improving energy efficiency, reducing charging time, and
extending the overall life of EVs. With the growing focus on sustainable
transportation and the expansion of EV infrastructure, the automotive segment
will continue to dominate the India Supercapacitors Market, contributing to
long-term market growth and technological innovation in the sector.

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Regional Insights
In 2024, the southern region of India
dominated the Supercapacitors Market and is expected to maintain its leadership
throughout the forecast period. The dominance of South India can be attributed
to several key factors, including its strong industrial base, rapid adoption of
electric vehicles (EVs), and significant presence of renewable energy projects.
Cities like Bengaluru, Chennai, and Hyderabad are key hubs for automotive and
technology industries, driving the demand for advanced energy storage solutions
like supercapacitors. South India has witnessed a significant rise in electric
vehicle manufacturing, particularly in Tamil Nadu and Karnataka, which are home
to major EV manufacturers and suppliers. The demand for supercapacitors in the
automotive sector, particularly for electric vehicles and hybrid vehicles, is a
key driver in this region. Additionally, South India has seen substantial
investments in renewable energy projects, particularly solar and wind power,
where supercapacitors are used to enhance grid stability and manage energy
fluctuations. Government initiatives such as the state-level support for
renewable energy adoption and electric vehicle manufacturing have further
accelerated market growth in the region. The region's robust infrastructure for
manufacturing and R&D in clean energy and automotive technologies also
makes it a focal point for supercapacitor adoption. Furthermore, South India’s
advanced transportation networks and logistics sectors, which require
high-performance energy storage solutions for fleet management, are contributing
to the increased demand for supercapacitors. With the continued focus on
sustainable development, electric mobility, and renewable energy, the southern
region of India is expected to maintain its dominance in the Supercapacitors
Market, solidifying its position as a critical driver of growth in the
country’s energy transition.
Recent Developments
- In Jan 2025, Panasonic
announced the launch of its new automotive battery technology aimed at
enhancing the performance and efficiency of electric vehicles (EVs). The
innovative batteries, incorporating advanced cell technologies, are designed to
increase driving range and reduce charging times. With a focus on
sustainability, Panasonic's new solution aligns with global efforts to
accelerate the adoption of electric mobility. The company aims to strengthen
its position in the growing EV market, meeting the increasing demand for
high-performance, reliable automotive energy storage systems.
- In Jan 2025, Panasonic has
unveiled its new high-capacity lithium-ion batteries designed to support the
growing demand for energy storage in renewable energy systems. The innovative
batteries are intended to enhance grid stability and energy efficiency, making
them ideal for both residential and commercial use. With a focus on
sustainability, Panasonic aims to contribute to the global transition to
renewable energy by providing advanced storage solutions that optimize power
management. This move strengthens the company’s position in the energy storage
market.
- In Dec 2023, CAP-XX has
secured two new international patents for its advanced supercapacitor
technology, further strengthening its intellectual property portfolio. These
patents focus on innovations that enhance the performance, energy density, and
durability of supercapacitors, positioning CAP-XX as a leader in the energy
storage sector. The company's cutting-edge technology is expected to support
the growing demand for efficient energy solutions in industries such as
automotive, consumer electronics, and renewable energy. This development
reinforces CAP-XX’s commitment to driving innovation in supercapacitor
applications.
- In Dec 2023, CAP-XX has
announced a joint venture with Ionic Industries, an Australian graphene
technology specialist, to enhance its supercapacitor products. This
collaboration aims to integrate advanced graphene materials into CAP-XX’s
energy storage solutions, improving their performance, energy density, and
efficiency. By leveraging Ionic Industries' expertise in graphene, CAP-XX plans
to accelerate the development of next-generation supercapacitors for
applications across automotive, consumer electronics, and renewable energy
sectors. This strategic partnership underscores CAP-XX’s commitment to
innovation and market leadership in energy storage technology.
Key Market Players
- Maxwell Technologies Korea Co., Ltd.
- Panasonic Holdings Corporation
- Murata Manufacturing Co., Ltd.
- Cap-XX Limited
- Eaton Corporation
- Seiko Instruments Inc.
- KEMET Corporation
- Rubycon Corporation
By End User
|
By Type
|
By Capacitance
|
By Region
|
- Consumer Electronics
- Energy
- Industrial
- Automotive
- Others
|
- Double-Layer Capacitor
- Pseudo capacitors
- Hybrid Capacitors
|
- Less Than 1F
- 1F to 100F
- More than 100F
|
- North India
- South India
- West India
- East India
|
Report Scope:
In this report, the India Supercapacitors Market
has been segmented into the following categories, in addition to the industry
trends which have also been detailed below:
- India Supercapacitors Market,
By End User:
o Consumer Electronics
o Energy
o Industrial
o Automotive
o Others
- India Supercapacitors Market,
By Type:
o Double-Layer Capacitor
o Pseudo capacitors
o Hybrid Capacitors
- India Supercapacitors Market,
By Capacitance:
o Less Than 1F
o 1F to 100F
o More than 100F
- India Supercapacitors Market,
By Region:
o North India
o South India
o West India
o East India
Competitive Landscape
Company Profiles: Detailed analysis of the major companies
present in the India Supercapacitors Market.
Available Customizations:
India Supercapacitors Market report with the
given market data, TechSci Research offers customizations according to a
company's specific needs. The following customization options are available for
the report:
Company Information
- Detailed analysis and
profiling of additional market players (up to five).
India Supercapacitors Market is an upcoming report
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confirm the date of release, please contact us at [email protected]