|
Forecast Period
|
2024-2028
|
|
Market Size (2022)
|
USD 704.23 Million
|
|
CAGR (2023-2028)
|
11.57%
|
|
Fastest Growing Segment
|
consumer electronics
|
|
Largest Market
|
Asia Pacific
|
Market Overview
Global Supercapacitors Market has valued at USD
704.23 Million in 2022 and is anticipated to project robust growth in the
forecast period with a CAGR of 11.57% through 2028. Supercapacitors are
replacing traditional electric car batteries with quick charging and
temperature stability. Additionally, supercapacitors are more flexible than
standard batteries. The high demand for a stable power supply for applications
such as GPS, portable media players, laptops, and mobile devices, is an
emerging trend in the market studied.
Supercapacitor charging and discharging also helps
sustain peak loads and backup power, which is significant for continuous
operation. It includes battery-powered industrial applications such as smart
meters, smoke detectors, video doorbells, and medical applications. To support
this, various vendors are launching new products. For instance, Texas
Instruments (TI) recently announced a new bidirectional buck/boost converter
with a quiescent current (IQ) of 60 nA. Additionally, compared to frequently
used hybrid-layer capacitors, the TPS61094 buck/boost converter includes a buck
mode for supercapacitor charging while delivering ultra-low IQ, allowing
engineers to extend battery life by up to 20%. (hybrid-layer capacitors
(HLCs)).
Key Market Drivers
Energy Storage and Efficiency
Energy storage and efficiency are driving forces
behind the growth of the global supercapacitors market. In an era where
sustainable energy solutions and efficient power management are paramount,
supercapacitors have emerged as a key player in the quest for better energy storage
and utilization. Several factors underscore their pivotal role in this context.
Supercapacitors, also known as ultracapacitors, are renowned for their
high-power density and rapid energy storage capabilities. They can store and
discharge energy much faster than traditional batteries, making them invaluable
in applications that require quick and efficient power delivery. This attribute
is especially critical in scenarios where energy needs fluctuate rapidly, such
as in renewable energy systems.
One of the most significant drivers for the
supercapacitor market is their application in renewable energy integration.
Solar and wind power sources, while sustainable, often produce energy
intermittently. Supercapacitors act as energy buffers, absorbing surplus power
when available and releasing it when needed. This smooths out power
fluctuations, improves grid stability, and enhances the overall reliability of
renewable energy systems. Moreover, supercapacitors are finding increasing use
in conjunction with energy storage systems, particularly in the grid, where
they provide rapid responses to grid imbalances. They help address issues like
voltage sag, frequency regulation, and peak shaving, which are crucial for
maintaining a stable and efficient electrical grid.
In the automotive sector, supercapacitors are
instrumental in energy efficiency. They can capture and store energy during
braking (regenerative braking) and deliver it when the vehicle accelerates,
reducing overall energy consumption. This energy-efficient approach is a
driving factor in the development of hybrid and electric vehicles. As
technology advances, researchers and manufacturers are continually enhancing
supercapacitor performance, aiming to increase energy density and decrease
costs. These improvements are expanding their applicability across various
industries and sectors. In a world where sustainability and efficient energy
use are at the forefront, supercapacitors are well-positioned to play a
significant role in enhancing energy storage and management. Their ability to
provide quick, efficient energy solutions aligns with the growing demand for
clean, green energy sources and will continue to drive the global
supercapacitors market for years to come.
Growing Electric Vehicle (EV) Market
The rapid expansion of the Electric Vehicle (EV)
market is playing a pivotal role in driving the global supercapacitors market.
As the world shifts towards more sustainable and eco-friendly transportation
solutions, electric vehicles have emerged as a viable alternative to
traditional internal combustion engine vehicles. Supercapacitors, also known as
ultracapacitors, are integral components in EVs, and several key factors
underline their increasing importance in this burgeoning industry. One of the
primary drivers is the need for improved energy efficiency in EVs.
Supercapacitors excel in providing rapid bursts of power, making them ideal for
regenerative braking systems. They can quickly store and release energy,
enhancing the efficiency of EVs by capturing and reusing energy during
deceleration, thereby extending the vehicle's driving range.
Supercapacitors are also instrumental in addressing
a common challenge in EVs - the need for rapid charging and discharging. EV
users seek quick charging times and sustained performance. Supercapacitors meet
this need by supporting rapid energy storage and release, ensuring that EVs can
be charged more quickly, and power can be delivered for rapid acceleration when
needed. Moreover, the inherent durability and longer lifespan of
supercapacitors are crucial factors for EV manufacturers. They have a significantly
longer cycle life compared to traditional lithium-ion batteries, reducing the
frequency of replacements and the associated maintenance costs. This not only
benefits EV owners but also aligns with the industry's efforts to enhance
sustainability.
The increasing affordability and accessibility of
electric vehicles, coupled with government incentives and regulations promoting
clean transportation, are fueling the demand for EVs on a global scale. This
surge in EV adoption directly translates into a growing demand for
supercapacitors as a key enabler of EV technology. In conclusion, the expanding
Electric Vehicle market is a major catalyst for the global supercapacitors
market. Supercapacitors are at the forefront of energy efficiency, rapid
charging, and sustainability in the EV sector, making them indispensable components
in the drive towards a greener and more electrified transportation landscape.
As the EV market continues to grow, so does the demand for supercapacitors,
positioning them as a key player in the future of sustainable mobility.
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Key Market Challenges
Limited Energy Density
The limited energy density of supercapacitors
represents a significant challenge that could potentially hinder the growth of
the global supercapacitors market. Energy density is a critical parameter that
measures how much energy a device can store per unit of volume or weight.
Supercapacitors, while excelling in rapid energy discharge and recharge, lag
behind traditional batteries in terms of energy density. This limitation poses
several constraints and hampers their suitability for specific applications. One
of the most notable areas where limited energy density impacts the adoption of
supercapacitors is in electric vehicles (EVs). EVs require energy-dense storage
solutions to provide long driving ranges, and this is where lithium-ion
batteries have traditionally held an advantage. Supercapacitors, with their
lower energy density, can supplement EVs by offering rapid energy regeneration
during braking and quick bursts of power for acceleration. However, they
struggle to replace batteries as the primary energy storage system due to their
inability to store sufficient energy for extended journeys. This limitation
hampers the broader adoption of supercapacitors in the EV sector.
Another area where energy density is crucial is in
consumer electronics. While supercapacitors can deliver quick energy boosts and
support rapid charging, they cannot compete with lithium-ion batteries in terms
of energy storage capacity. This is a significant drawback in applications like
smartphones and laptops, where consumers demand longer battery life and less
frequent charging.
In renewable energy systems, limited energy density
can affect the ability of supercapacitors to efficiently store surplus energy
generated by sources like solar panels or wind turbines. This hinders their
role in addressing energy intermittency and reducing reliance on the grid. To
overcome this challenge, ongoing research and development efforts are focused
on enhancing the energy density of supercapacitors. Innovations such as hybrid
energy storage systems that combine supercapacitors with lithium-ion batteries
or other energy storage technologies are being explored to leverage the
strengths of both technologies. As supercapacitors continue to evolve and
improve in terms of energy density, they are expected to find broader
applications in various industries. However, addressing this limitation remains
a crucial focus to unlock their full potential and facilitate their widespread
adoption in the global energy storage landscape.
High Cost
The high cost of supercapacitors represents a
significant challenge that has the potential to hinder the growth of the global
supercapacitors market. Supercapacitors, also known as ultracapacitors, offer
numerous advantages, including rapid energy storage and discharge, high power
density, and longer cycle life compared to traditional batteries. However,
their relatively higher cost per unit of energy storage capacity is a limiting
factor that can impact their adoption in various applications. One of the primary
issues stemming from the high cost of supercapacitors is their competitiveness
in the energy storage market, particularly when compared to widely used
lithium-ion batteries. For applications that require a balance between
cost-efficiency and energy storage capacity, supercapacitors may be at a
disadvantage. This is especially notable in industries where margins are slim
and cost savings are a primary concern.
In the electric vehicle (EV) sector, which is a
significant market for energy storage solutions, the high cost of
supercapacitors can hinder their adoption as the primary energy storage system.
While supercapacitors excel in quick energy regeneration during regenerative
braking and rapid acceleration, the cost factor may make them less appealing
for automakers compared to lithium-ion batteries, which have seen significant
cost reductions over the years. Furthermore, in renewable energy systems, the
cost-effectiveness of energy storage solutions is crucial. Solar and wind power
systems benefit from energy storage to mitigate intermittency issues, but the
high cost of supercapacitors can be a limiting factor when considering
large-scale installations.
Addressing the cost challenge is essential for the
wider adoption of supercapacitors. Ongoing research and development efforts are
focused on reducing the cost of supercapacitor materials and manufacturing
processes. As production scales up and economies of scale come into play, it's
anticipated that the cost of supercapacitors will gradually decrease. Hybrid
energy storage systems, combining supercapacitors with lower-cost technologies
like lithium-ion batteries, are also being explored to balance the advantages
of both systems while mitigating the cost issue. Government incentives and
subsidies can play a role in offsetting the higher cost of supercapacitor
adoption, particularly in applications that benefit from their rapid energy
storage and discharge capabilities. In conclusion, the high cost of
supercapacitors is a valid concern, especially in cost-sensitive industries and
applications. However, ongoing efforts to reduce costs and the growing
recognition of their unique strengths in terms of rapid energy management
continue to drive innovation and create opportunities for their broader
adoption in the global energy storage market.
Environmental Concerns
Environmental concerns pose a challenge to the
global supercapacitors market, impacting their widespread adoption and growth.
While supercapacitors offer many advantages in terms of energy storage and
efficiency, certain environmental aspects have raised questions about their
sustainability and long-term environmental impact. One significant
environmental concern is the materials used in supercapacitor construction.
Some supercapacitors employ materials that are not eco-friendly, and their extraction
and disposal can have adverse environmental effects. For instance, the use of
activated carbon as an electrode material in supercapacitors raises concerns
due to the energy-intensive process of producing it and the potential for
carbon emissions during manufacturing.
Another issue is recycling and disposal. Like other
electronic components, supercapacitors have a finite lifespan, and their
disposal can lead to electronic waste (e-waste) concerns. Safely recycling
supercapacitors, especially those containing potentially hazardous materials,
is essential to minimize environmental impact. Additionally, the energy
efficiency of supercapacitors, while a strength in some contexts, can be seen
as a potential drawback from an environmental perspective. Supercapacitors are
highly efficient in terms of energy storage and discharge, but their low energy
density often necessitates combining them with traditional batteries,
increasing the overall complexity of energy storage systems and potentially
leading to more materials being used.
Addressing these environmental concerns requires
innovations in supercapacitor materials and construction methods. Researchers
are exploring sustainable alternatives to replace certain materials and
investigating more environmentally friendly electrode materials. Efforts are
also being made to improve the recycling processes for supercapacitors,
ensuring that materials can be recovered and reused efficiently. Proper
recycling infrastructure is essential to prevent the accumulation of
supercapacitor waste and its potential environmental harm.
Furthermore, as environmental regulations and
sustainability considerations continue to gain prominence, manufacturers are
likely to adopt more eco-friendly practices, further reducing the environmental
impact of supercapacitor production. In summary, while environmental concerns
do present challenges to the global supercapacitors market, ongoing research
and industry developments are aimed at mitigating these issues. As sustainable
alternatives and recycling practices are integrated into the supercapacitor
manufacturing process, these concerns may become less of an impediment to their
growth and adoption, allowing supercapacitors to continue making positive
contributions to energy storage and efficiency without significantly harming
the environment.
Key Market Trends
Growing Demand in Electric Vehicles (EVs)
The growing demand for electric vehicles (EVs) is
emerging as a powerful driver of the global supercapacitors market. As the
world pivots toward cleaner and more sustainable transportation solutions, EVs
have gained prominence, and supercapacitors are playing a pivotal role in
enhancing their performance and efficiency. Supercapacitors, also known as
ultracapacitors, are exceptionally well-suited for EVs due to their ability to
rapidly store and release energy. They are used in EVs to capture and store
energy during regenerative braking, a process where the vehicle's kinetic
energy is converted into electrical energy and stored for later use. When the
driver accelerates, this stored energy is released to provide quick and
powerful bursts of power. This improves the overall efficiency of the EV by
reducing energy waste and extending its driving range.
The demand for EVs is on the rise due to increasing
environmental awareness, government incentives, and advancements in EV
technology. Supercapacitors are a critical component in this growth, as they
address several key challenges faced by EV manufacturers and users. For
instance, they offer quick energy regeneration, enabling rapid charging of the
energy storage system, which is crucial for the widespread adoption of EVs. Supercapacitors
also contribute to the longevity and reliability of EVs. With a longer cycle
life and greater durability compared to traditional batteries, supercapacitors
reduce the frequency of replacements and maintenance, which is an attractive
feature for EV owners and manufacturers alike.
Moreover, in the commercial and public
transportation sectors, where electric buses and trams are gaining popularity,
supercapacitors are being used to store and release energy during stops,
enhancing energy efficiency and reducing emissions. As the global automotive
industry continues its transition towards electrification, the demand for
supercapacitors in the EV market is set to surge. Research and development
efforts are also underway to further improve supercapacitor performance, energy
density, and cost-effectiveness. This will likely solidify supercapacitors as
an integral and growing component of the EV ecosystem, contributing to a more
sustainable and energy-efficient future in the transportation sector.
Renewable Energy Integration
The integration of renewable energy sources, such
as solar and wind power, is driving the global supercapacitors market. As the
world shifts towards sustainable energy solutions and reduces reliance on
fossil fuels, the need for efficient energy storage and management in renewable
energy systems has become increasingly evident. Supercapacitors, with their
rapid energy storage and discharge capabilities, play a vital role in
addressing the intermittent and variable nature of renewable energy sources,
thereby accelerating the transition to clean energy.
One of the key drivers is the ability of
supercapacitors to provide quick and high-power bursts when energy production
exceeds demand, or when there are fluctuations in energy supply. In renewable
energy systems, energy generation is often irregular, with surges during sunny
or windy periods and lulls during inclement weather or at night.
Supercapacitors capture and store excess energy during surplus periods and
release it rapidly when needed, ensuring a stable and consistent power supply.
This enhances the reliability of renewable energy systems, reducing the need
for backup power sources and grid stabilization infrastructure.
Supercapacitors are particularly valuable in
smoothing out power fluctuations in grid-tied renewable energy installations.
They provide fast response times to balance energy supply and demand, improve
grid stability, and mitigate issues like voltage sag and frequency regulation,
contributing to the overall quality of electrical power. Additionally,
supercapacitors support microgrid systems, which are becoming more prevalent in
remote areas and in regions with unreliable grid connections. In these setups,
supercapacitors are crucial for storing and releasing energy efficiently,
reducing the reliance on conventional energy sources and making microgrids more
resilient and sustainable.
The continued growth of the renewable energy
sector, driven by environmental concerns and government incentives, is expected
to further boost the demand for supercapacitors. Ongoing research and
development efforts are also focused on enhancing the energy density and
efficiency of supercapacitors to make them even more suitable for renewable
energy integration. In conclusion, the integration of renewable energy sources
is a key driver for the global supercapacitors market. Supercapacitors play a
vital role in making renewable energy systems more reliable and efficient, and
as the world continues to prioritize clean energy solutions, their demand is
likely to surge, further cementing their place in the sustainable energy
landscape.
Segmental Insights
End-User Insights
consumer
electronics is expected to hold the largest share of Supercapacitors market for
during the forecast period, Supercapacitor charging and discharging also helps
sustain peak loads and backup power, which is significant for continuous
operation. It includes battery-powered industrial applications such as smart
meters, smoke detectors, video doorbells, and medical applications. To support
this, various vendors are launching new products. For instance, Texas
Instruments (TI) recently announced a new bidirectional buck/boost converter
with a quiescent current (IQ) of 60 nA. Additionally, compared to frequently
used hybrid-layer capacitors, the TPS61094 buck/boost converter includes a buck
mode for supercapacitor charging while delivering ultra-low IQ, allowing
engineers to extend battery life by up to 20%. (hybrid-layer capacitors
(HLCs)).
Further research is underway in developing affordable and innovative
solutions built on existing supercapacitor technology. It offers a more
affordable and ecological alternative to present models and emphasizes the need
to reduce the carbon-based electrode production cost and the dependency on
crucial components. For instance, researchers from Imperial College London and
University College London (UCL) recently developed a more sustainable and
energy-dense electrode material for supercapacitors, paving the way for further
market use of high-power, quick-charging electric vehicle technology.
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Regional Insights
Asia Pacific is expected to dominate the market
during the forecast period. In China, the demand for supercapacitors is
expected to grow by one of the highest growth rates in the world for a long
time to meet the carbon neutrality targets by 2060. Benefiting from the
increased demand in downstream markets, such as electric vehicles, the overall
market share of supercapacitors in China would continue to rise. With policy
support from the government, many new players have positioned themselves in the
market.
Prominent market players include the state-owned
CRRC (China Railroad Rolling Stock Corporation), Nantong Jianghai, Shanghai
Aowei, and Jinzhou Kaimei. There are new players in supercapacitor
manufacturing, such as Beihai Sence Carbon Materials Technology, Jiangsu
Zhongtian Technology Group, and Tianjin Plannano Energy Technologies. Research
institutions and universities, including Donghua University, Jiangsu
University, South Central University, and Tsinghua University, have been
involved in innovation in the supercapacitors sector through patent filing,
among other things.
China's automotive industry is overgrowing, and the
country plays an increasingly important role in the global automotive market.
The government views the automotive industry, including the auto parts sector,
as one of its country's pillar industries. The Central Government of China
estimates that China's automobile output shall reach 35 million units by 2025,
which caters to supercapacitors' demand. Electric vehicles are becoming more
popular, and China is considered one of the leading adopters. For developments
in China's transportation industry, the 13th Five-Year Plan encourages the
development of green mobility alternatives such as hybrid and electric
vehicles.
Recent Developments
- September 2022 - Godi India announced the
development of supercapacitors to improve battery life in EVs. The company is
the first to manufacture 3000F (farads) high-power supercapacitors at its
Hyderabad facility. The company is also planning to commission 200 kWh of the
supercapacitors production facility to cater to various local requirements and
export markets.
- July 2022 - Skeleton Technologies and Siemens
announced entering a technology partner to develop, plan, and implement a fully
automated, digitalized manufacturing plant to produce supercapacitors in
Germany. The collaboration aims to digitize Skeleton’s entire value chain, from
supercapacitor cell design to production and services, and scale up the
next-generation supercapacitors production.
Key Market Players
- Eaton
Corporation PLC
- Maxwell
Technologies Inc. (Tesla Inc.)
- Skeleton
Technologies Inc.
- Cap-XX
Limited
- Kyocera
Corporation
- Supreme
Power Solutions
- LS Mtron
Ltd
- TOKIN
Corporation
- Shanghai
Aowei Technology Development Co. Ltd
- Loxus
Inc.
|
By End-user
|
By Region
|
|
- consumer electronics
- energy
- utilities
- industrial
|
- North America
- Europe
- South America
- Middle East & Africa
- Asia Pacific
|
|
Report Scope:
In this report, the Global Supercapacitors Market has
been segmented into the following categories, in addition to the industry
trends which have also been detailed below:
- Global Supercapacitors
Market, By
End-user:
o consumer electronics
o energy
o utilities
o industrial
- Global Supercapacitors Market,
By Region:
o North America
§ United States
§ Canada
§ Mexico
o Asia-Pacific
§ China
§ India
§ Japan
§ South Korea
§ Indonesia
o Europe
§ Germany
§ United Kingdom
§ France
§ Russia
§ Spain
o South America
§ Brazil
§ Argentina
o Middle East & Africa
§ Saudi Arabia
§ South Africa
§ Egypt
§ UAE
§ Israel
Competitive Landscape
Company Profiles: Detailed analysis of the major companies presents
in the Global Supercapacitors Market.
Available Customizations:
Global Supercapacitors Market report with the given
market data, Tech Sci 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).
Global Supercapacitors Market is an upcoming report
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