Supercapacitors Market Size, Share, Industry, Forecast and outlook (2024-2031)

Global Supercapacitors Market is segmented By Type (Double Layer Capacitor, Pseudo Capacitor, Hybrid Capacitor), By Application (Consumer Electric, Industrial, Energy, Medical Electronics, Transportation), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2024-2031

Supercapacitors Market Overview

A report by DataM Intelligence estimates the global Supercapacitors market to grow at a high CAGR during the forecast period 2024-2031.

Supercapacitors are electrical devices that are used to store and release energy and are used in regenerative braking systems in which kinetic energy of the car is converted into stored potential energy while applying brakes. They also have the advantage of wide operating temperature over lithium-ion batteries which help the vehicle to work efficiently in almost every weather condition.  They are divided into Double-layer capacitors, Pseudo capacitors and Hybrid capacitors based on type.

Supercapacitors Market Summary

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Supercapacitors Market Growth Trends

The major factors driving the Global Supercapacitors Market are the increase in the sales of electric vehicles in countries such as Norway, Sweden, Netherlands etc is driving the market growth for Supercapacitors. They are also used in the wind and electric power grid sectors

The increasing demand for Supercapacitors in the automobile industry is driving the market growth of supercapacitors

The increase in sales of passenger cars and commercial vehicles in different parts of the world is driving the market growth for Supercapacitors and even the increase in the sales of electric vehicles in countries such as Norway, Sweden etc is also driving the market growth. According to the report by the International Organization of motor vehicles manufacturers (OICA), the Asia-Pacific countries like China, Japan, the USA, Germany, India and France were ranked 1, 2, 3, 4,  5, 6 with 20.17 million, 3.8 million, 3.4 million, 2.9 million, 2.433 million and 1.65 million respectively passengers cars sold in 2020 and number of passengers cars sold in China, USA, Japan, India, France and South Korea were 21.4 million, 4.7 million, 4.3 million, 2.9 million, 2.214 million and 1.497 million respectively in 2019. The number of passenger cars sold in the world was 63.7 million in 2019 and 53.5 million in 2020.

The demand for electric vehicles is increasing in several countries of the world due to government policies to reduce pollution and even countries are focussing on removing the dependency on petrol and diesel as there is a monopoly of several oil-producing countries which according to their interests and profits produce more or less crude oil which affects the price of crude oil and in turn affecting the citizens of oil-importing countries like due to the less supply and more demand issue the current price of petrol and diesel is above INR 100 and INR 85 respectively in several states of India. According to the report, the number of electric vehicles sold increased by 39% in 2020 with 3.1 million units sold and the share of electric vehicles sold among the sales of passenger cars increased to 4.5% in 2020. This increase sales of electric vehicles are driving the market growth of Supercapacitors. Tesla Model 3 and Wuling Hongguang mini EV were the most sold electric cars in 2020 with a total of 365000 units and 119000 units sold. Hybrid buses are also in demand in several parts of the world. China is currently having 42100 electric buses and is leading with the most electric buses in the world. Supercapacitors are also used in regenerative braking systems in which kinetic energy of the car is converted into stored potential energy while applying brakes. They also have the advantage of wide operating temperature over lithium-ion batteries which help the vehicle to work efficiently in almost every weather condition.

The increasing demand for supercapacitors in the wind and electric grid sector is also driving the market growth of Supercapacitors

There is an increasing demand for supercapacitors in the wind and electric grid sector. Due to the longer operating time of supercapacitors they are very useful in wind power. Supercapacitors are also used in regenerative braking systems in which kinetic energy of the car is converted into stored potential energy while applying brakes. They also have the advantage of wide operating temperature over lithium-ion batteries which help the vehicle to work efficiently in almost every weather condition. It is useful in conditions when high power/energy is needed for a short period.

The high installation cost and low awareness related to the use of supercapacitors are hampering the market growth for the Supercapacitors market

COVID-19 Impact on Supercapacitors Market 

The COVID-19 pandemic has affected many industries due to the disruption in the supply chain, as there were full or partial lockdowns in many countries of the world and restrictions across borders and closure of airports hampered world trade. The automobile sector was also severely affected due to covid-19 as there was disruption of the supply chain and people preferred health over their jobs. Companies couldn’t operate with proper covid norms. It was also difficult for staff and workers to work with social distancing norms. The economy was affected severely as many workers returned to their homes during covid-19 resulting in a massive loss for the industry. An increase in the sales of electric vehicles during the pandemic in 2020 is driving the market growth for Supercapacitors. The demand for electric vehicles is increasing in several countries of the world due to government policies to reduce pollution and even countries are focussing to remove the dependency on petrol and diesel as there is a monopoly of several oil-producing countries which according to their interests and profits produce more or less crude oil which affects the price of crude oil and in turn affecting the citizens of oil-importing countries like due to the less supply and more demand issue the current price of petrol and diesel is above INR 100 and INR 85 respectively in several states of India in 2021.  According to the report, the number of electric vehicles sold increased by 39% in 2020 with 3.1 million units sold and the share of electric vehicles sold among the sales of passenger cars increased to 4.5% in 2020. This increase sales of electric vehicles are driving the market growth of Supercapacitors. Many governments in the world are also planning and implementing schemes for the increase in sales of electric vehicles and buses like in India Fame scheme was extended by two years till 2024 which promotes the sale of electric vehicles. China sold over 61000 electric buses in 2020 during the covid-19 pandemic. This is driving the market growth for the supercapacitors.

Supercapacitors Market Segmentation Analysis

The Global Supercapacitors Market is segmented based on Type, Application and Region.

Based on the Type, the Global Supercapacitors Market is segmented into double-layer capacitors, Pseudo capacitors and Hybrid capacitors.

The double-layer capacitors segment within Global Supercapacitors Market was valued at USD  billion in 2020 and a growth in market size is predicted leading to a market size worth USD billion by 2028, growing at a CAGR of % during the forecast period (2021-2028). The double-layer capacitors segment has the highest market share as it uses a carbon-based technology or carbon electrodes that use an organic electrolyte. This technology is preferred more compared to other types as it is easier to manufacture than the other types of technologies. It undergoes charge storage electrostatically. Pseudo capacitors undergo charge storage electrochemically. Pseudo capacitors use electrodes of metal oxide.

The hybrid type capacitors such as lithium-ion capacitors provide both high power and high energy density which means that the battery can achieve a longer operating time and high power. They are a good alternative to lithium-ion batteries due to the longer operating time which helps the vehicles to work efficiently in any weather condition and due to this, the market for hybrid capacitors is expected to grow in the future. It undergoes charge storage both electrochemically and electrostatically.

Based on the Application, the Global Supercapacitors Market is segmented into Consumer Electric, Industrial, Energy, Medical Electronics and Transportation.

Supercapacitors Market Geographical Share

Based on the Region, Global Supercapacitors Market is segmented as - North America, Europe, Asia-Pacific, The Middle East, Africa and South America.

The European region had a market share of % in 2020 and is expected to hold % by 2028. The Europe region has one of the highest market shares among all the regions as the demand from countries like Norway, Sweden and many other countries for electric vehicles is increasing. The demand for electric vehicles is increasing in several countries of the world due to government policies to reduce pollution and even countries are focussing to remove the dependency on petrol and diesel as there is a monopoly of several oil-producing countries which according to their interests and profits produce more or less crude oil which affects the price of crude oil and in turn affecting the citizens of oil-importing countries like due to the less supply and more demand issue the current price of petrol and diesel is above INR 100 and INR 85 respectively in several states of India. According to the report, the number of electric vehicles sold increased by 39% in 2020 with 3.1 million units sold and the share of electric vehicles sold among the sales of passenger cars increased to 4.5% in 2020. This increase sales of electric vehicles are driving the market growth of Supercapacitors. Tesla Model 3 and Wuling Hongguang mini EV were the most sold electric cars in 2020 with a total of 365000 units and 119000 units sold.

Hybrid buses are also in demand in several parts of the region. According to the reports, Hybrid buses had a market share of 9.5% among all the buses in the European Union. Supercapacitors are also used in regenerative braking systems in which kinetic energy of the car is converted into stored potential energy while applying brakes. They also have the advantage of wide operating temperature over lithium-ion batteries which help the vehicle to work efficiently in almost every weather condition.

Supercapacitors Market Companies

The Global Supercapacitors Market is fragmented with key global players in the market and there are many large companies in the market. Some of the major companies contributing to the market's growth are - Cap- Limited, Panasonic Corporation, Nesscap Energy Inc., Maxwell Technologies, Inc., Axion Power International, Inc., Nippon Chemi-Con Corporation, Graphene Energy, FastCAP Systems, Inc., Nesscap Energy Inc., Seiko Instruments Inc. and many others.

Mergers and Acquisitions, agreements, expansions, joint ventures etc increases competition in the market like the Panasonic Corporation announced the acquisition of an American company called Blue Yonder in March 2021. CAP- acquired the supercapacitor production lines of Murata in December 2019.

New Innovations, New products, services launched also increase competition between companies and many companies are developing innovative technologies. Partnerships and Collaborations between companies are also making the market more competitive. Divestments and investments by the company and split of companies are also making the market quite competitive.

Panasonic Corporation

Overview:

Panasonic Corporation is a Japanese multinational company dealing with electronics. The headquarters of the company is located in Kadoma, Osaka, Japan. The company also deals with industrial systems, rechargeable batteries, automotive systems, real estate and construction. The company is also listed on the Tokyo Stock Exchange and is also a part of the Nikkei 225. Some of the subsidiaries of the company are Panasonic Avionics Corporation, Anchor Electricals, Panasonic Electric Works etc. The company was earlier known as Matsushita Electric Industrial and was later renamed Panasonic Corporation in October 2008. The company announced the acquisition of Blue Yonder in 2021. The company was ranked 153 in the fortune 500 global rankings in 2020. The market value of the company as of 13th March 2021 is USD 30.1 billion. The company was also ranked 239 in the Forbes global 2000 ranking of 2021. The company was founded by Konosuke Matsushita in 1918 in Osaka, Japan. The current CEO/president of the company is Yuki Kusumi.

Product Portfolio

• HZ Electric Double Layer Capacitors
• EDLC Gold Capacitors
• ZSU-A Polymer Hybrid Electrolytic Capacitors
• EEH-ZU Hybrid Aluminium Electrolytic Capacitors
• SVPG OS-CON Solid Aluminium Capacitors
• EEH-ZT Hybrid Aluminum Electrolytic Capacitors

Key Development

• The Panasonic Corporation announced the acquisition of an American company called Blue Yonder in March 2021.
• The company commercialised the SVPT Series of conductive-polymer aluminium electrolytic capacitors in August 2019.
• Panasonic announced that it is planning to increase the energy density in the Tesla batteries by 20%.
• Panasonic launched 2170 lithium-ion cells for the Tesla Model 3 in 2017.

Financial Overview

The major shareholders of the company are Fisher Asset Management LLC, Accrued Equities, Inc., Dimensional Fund Advisors LP, Envestnet Asset Management, Inc. with market shares of 0.3%, 0.01%, 0.01%, 0.01% respectively. The company was ranked 153 in the fortune 500 global rankings in 2020. The market value of the company as of 13th March 2021 is USD 30.1 billion. The company was also ranked 239 in the Forbes global 2000 ranking of 2021.