Global Supercapacitor Market to Grow at 19.5% During 2024-2032, Impelled by Significant Growth in Electronics Industry

October 23, 2020 | Electronics and Semiconductors

According to the latest report by IMARC Group, titled "Supercapacitor Market Report by Product Type (Electric Double-Layered Capacitors, Pseudocapacitors, Hybrid Capacitors), Module Type (Less than 25V, 25-100V, More than 100V), Material Type (Carbon and Metal Oxide, Conducting Polymer, Composite Materials), End Use Industry (Automotive and Transportation, Consumer Electronics, Power and Energy, Healthcare, and Others), and Region 2024-2032," the global supercapacitor market size reached US$ 5.3 Billion in 2023. The supercapacitor, or ultracapacitor, refers to an electrochemical energy device used to store and release large amounts of energy with a static charge. They include two metal foils coated with activated carbon that acts as a power connection between the electrode material and external terminals of the capacitor. As compared to traditional batteries,supercapacitors offer higher energy density, lower resistance, faster operation, higher power, and excellent high- and low-temperature charge and discharge capabilities. As a result, they find extensive applications in smartphones, automobiles, laptops, buses, trains, and other electronic devices that operate on batteries.

Global Supercapacitor Market Trends:

The global supercapacitor market is primarily being driven by the rising application of the device in the renewable energy sector as it is energy-efficient andcompatible with solar and wind power systems. Apart from this, supercapacitors are widely adopted in the automotive industry to facilitate a smooth charge and discharge cycle, which is supporting the market growth. Additionally, the increasing sales of electric vehicles (EVs) and hybrid-electric vehicles (HEVs) are catalyzing the market growth. Moreover, the escalating demand for stabilized power supply in consumer electronic applications, such as computers, portable media players, and handheld devices, is creating a positive outlook for the market. The utility sector is increasingly employing supercapacitors for generator bridging, primary frequency response, and ramping and regulation, which is further propelling the market growth. Looking forward, the market is expected to grow at a CAGR of 19.5% during 2024-2032.

Market Summary:

  • On the basis of the product type, the market has been divided into electric double-layered capacitors, pseudocapacitors and hybrid capacitors.
  • Based on the module type, the market has been classified into less than 25V, 25-100V and more than 100V.
  • On the basis of the material type, the market has been categorized into carbon and metal oxide, conducting polymer, and composite materials.
  • Based on the end use industry, the market has been segmented into automotive and transportation, consumer electronics, power and energy, healthcare, and others.
  • On the geographical front, the market has been segregated into North America (the United States and Canada), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Latin America (Brazil, Mexico and others), and Middle East and Africa.
  • The competitive landscape of the market has also been examined, with some of the key players being AVX Corporation, Cap-XX Limited (Kyocera), Eaton Corporation plc, Elna Co. Ltd. (Taiyo Yuden), Ioxus, Inc. (XS Power Batteries), KEMET Corporation (Yageo Corporation), LS Mtron Ltd., Nippon Chemi-Con Corporation, Panasonic Corporation, Seiko Instruments Inc., Skeleton Technologies GmbH, and Tesla, Inc.

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Global Supercapacitor Market to Grow at 19.5% During 2024-2032, Impelled by Significant Growth in Electronics Industry
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