Download Sample, Rising Adoption of Supercapacitors in the Automotive Sector is Propelling the Market Expansion
Concerns about the environment and the sustainability of resources are pushing a shift away from internal combustion engines and towards electrically powered alternatives. This is expected to have the largest impact on companies associated with road transport, which have depended largely on internal combustion engines for almost a century. As a result, there is a significant growth in demand for electric vehicles. According to the International Energy Agency, electric vehicles are anticipated to account for 60% of the new car sales by 2050. At the same time, the internal combustion engine market share will be reduced, resulting in a lower return on investment, forcing auto manufacturers to boost the production of electric vehicles.
In addition, the market for supercapacitors is expected to expand as a consequence of rising demand for electric vehicles. As a result, manufacturers are focusing on developing supercapacitors in order to necessitate the rising demand for electric vehicles. For example, in March 2023, KEMET, a member of the YAGEO Group and a prominent global supplier of electronic components, unveiled the FMU Series, a new high-performance supercapacitor for automotive electronics. This series has an industry-leading operational temperature range of -40°C to 105°C and offers 1,000 hours at 85°C/85% RH-rated voltage. Moreover, these supercapacitors are optimal for ADAS, self-driving vehicles, and central gateway ECUs that require a main power system backup during a power outage.
In addition, the market for supercapacitors is expected to expand as a consequence of rising demand for electric vehicles. As a result, manufacturers are focusing on developing supercapacitors in order to necessitate the rising demand for electric vehicles. For example, in March 2023, KEMET, a member of the YAGEO Group and a prominent global supplier of electronic components, unveiled the FMU Series, a new high-performance supercapacitor for automotive electronics. This series has an industry-leading operational temperature range of -40°C to 105°C and offers 1,000 hours at 85°C/85% RH-rated voltage. Moreover, these supercapacitors are optimal for ADAS, self-driving vehicles, and central gateway ECUs that require a main power system backup during a power outage.
Increasing Demand for Renewable Energy is Driving the Market Growth
As the globe shifts towards clean energy sources, there is a considerable increase in the construction of renewable energy power plants across the world. The growing need for sustainable energy solutions is propelling the supercapacitor industry forward. Supercapacitors are utilized in a variety of energy storage devices since they have a greater power density than batteries and a higher energy density than regular capacitors. Supercapacitors are also suited for microgrids because of their high specific capacitance and electrical stability. They are used extensively in solar and wind power facilities.
These capacitors are often utilized in power microgrids that produce renewable energy. Moreover, they can also be employed as a reliable energy storage solution in solar photovoltaic (PV) panels and solar lights. In addition to this, the increasing adoption of wind energy is likely to boost the market expansion for supercapacitors. Thus, the rising adoption of supercapacitors in wind turbines and grid energy storage systems is driving the market development for supercapacitors over the forecast period.
These capacitors are often utilized in power microgrids that produce renewable energy. Moreover, they can also be employed as a reliable energy storage solution in solar photovoltaic (PV) panels and solar lights. In addition to this, the increasing adoption of wind energy is likely to boost the market expansion for supercapacitors. Thus, the rising adoption of supercapacitors in wind turbines and grid energy storage systems is driving the market development for supercapacitors over the forecast period.
Recent Trends in the Supercapacitors Industry
- Exploration of novel electrode materials to improve supercapacitor performance.
- Advancements in hybrid supercapacitor-battery systems for automotive applications.
- Development of flexible and thin-film supercapacitors for wearable technology.
- Adoption of supercapacitors in grid stabilization and energy management systems.
- Focus on improving supercapacitor durability and cycle life for long-term usage.
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Partnerships and Acquisitions Provide Traction to the Supercapacitors Market Development
Major industry players are focusing their efforts on research and development in order to develop products in order to expand their product offerings. They are also strengthening their market position using a variety of market strategies, including product launches, mergers, partnerships, and acquisitions. For instance, in October 2023, Abracon, a leading provider of Frequency Control, Timing, Power, Magnetics, RF, and Antenna solutions, announced the launch of an all-new line of 2.7V & 3.0V EDLC radial supercapacitors that have the capacity to revolutionize energy supply and energy storage with their unmatched performance, reliability, and versatility. In February 2022, CAP-XX Limited, the leading manufacturer of ultra-thin prismatic and high-power cylindrical supercapacitors, announced that it has signed a Sourcing Agreement with Continental Automotive GmbH, a Tier 1 automotive supplier, to supply CAP-XX DMT220 prismatic supercapacitors for one of Continental's key automotive programs. The Sourcing Agreement for this design award covers the anticipated volumes for model years 2024 through 2030.
Earlier, in December 2020, Cornell Dubilier Electronics, Inc. announced that its subsidiary, CD Snow Hill, LLC, had completed the acquisition of NWL, Inc.'s capacitor manufacturing assets. Owing to this acquisition, the firm is positioned to extend its solutions for industrial, military, and medical clients now that it has expanded its capabilities in specialized high-voltage film capacitors for pulsed power and power conversion applications. Furthermore, in April 2023, Skeleton Technologies and Siemens signed an agreement to develop a fully automated, digital manufacturing technique for making supercapacitors in Germany. This agreement was anticipated to enable Skeleton Technologies to expand supercapacitor manufacturing and create the largest supercapacitor factory in the world.
Earlier, in December 2020, Cornell Dubilier Electronics, Inc. announced that its subsidiary, CD Snow Hill, LLC, had completed the acquisition of NWL, Inc.'s capacitor manufacturing assets. Owing to this acquisition, the firm is positioned to extend its solutions for industrial, military, and medical clients now that it has expanded its capabilities in specialized high-voltage film capacitors for pulsed power and power conversion applications. Furthermore, in April 2023, Skeleton Technologies and Siemens signed an agreement to develop a fully automated, digital manufacturing technique for making supercapacitors in Germany. This agreement was anticipated to enable Skeleton Technologies to expand supercapacitor manufacturing and create the largest supercapacitor factory in the world.
High Raw Material Costs and Technical Limitations of Supercapacitors are Likely to Pose Threat to the Market Growth
Supercapacitors are not appropriate for long-term energy storage applications since they have a far greater discharge rate than lithium-ion batteries. As a result, they might lose up to 10% of their charge every day due to self-discharge. While batteries produce a practically constant voltage output until they are depleted, the voltage output of supercapacitors decreases linearly with charge. As a result, supercapacitors are unstable for applications that demand consistent energy delivery over a lengthy period of time. This is a major impediment where long-term energy storage is required, particularly in energy applications where long-term storage is necessary for the successful functioning of microgrids.
Additionally, even though supercapacitors have been employed in commercial applications for roughly two decades, they are still in their early phases. As a result of their high discharge and leakage rates, these capacitors are currently only suitable for short-term high-energy applications. They are continuously in need of electrical parameter optimization to maintain optimal operation. As a result, supercapacitor maintenance is a major priority. Furthermore, supercapacitors are very expensive due to the high costs of raw materials necessary to manufacture supercapacitors. In addition to this, supercapacitor manufacturers are dealing with difficulty in obtaining highly efficient electrodes at low cost. As a result, the high cost of materials necessary to manufacture supercapacitors raises their total expenses.
Murata Manufacturing Co. Ltd., Eaton, Maxwell Technologies, KEMET Corporation, Panasonic Corporation, CAP-XX, AVX Corporation, Nippon Chemi-Con, Blue Solutions, LOXUS Inc., LS Mtron, FastCAP Ultracapacitors Corporation, Tecate Group, VINATech Co. Ltd. are some of the prominent market players operating in the global supercapacitors market.
Additionally, even though supercapacitors have been employed in commercial applications for roughly two decades, they are still in their early phases. As a result of their high discharge and leakage rates, these capacitors are currently only suitable for short-term high-energy applications. They are continuously in need of electrical parameter optimization to maintain optimal operation. As a result, supercapacitor maintenance is a major priority. Furthermore, supercapacitors are very expensive due to the high costs of raw materials necessary to manufacture supercapacitors. In addition to this, supercapacitor manufacturers are dealing with difficulty in obtaining highly efficient electrodes at low cost. As a result, the high cost of materials necessary to manufacture supercapacitors raises their total expenses.
Murata Manufacturing Co. Ltd., Eaton, Maxwell Technologies, KEMET Corporation, Panasonic Corporation, CAP-XX, AVX Corporation, Nippon Chemi-Con, Blue Solutions, LOXUS Inc., LS Mtron, FastCAP Ultracapacitors Corporation, Tecate Group, VINATech Co. Ltd. are some of the prominent market players operating in the global supercapacitors market.
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Rapid Industrialisation, Increasing Demand for Electric Vehicles and Government Regulations are Impacting the Market Expansion
Asia Pacific is likely to witness substantial growth in the supercapacitors market owing to the rapid industrialization and infrastructural development in countries like China and India. The rising industrialization is also fuelling the rise of the consumer electronics and automotive sectors, which is likely to enhance the demand for supercapacitors in these regions. Furthermore, an increasing number of manufacturing facilities in Japan and South Korea are anticipated to create lucrative business opportunities for the supercapacitors market. As a result, the manufacturing activities in these regions are likely to increase to a significant extent thus increasing the demand for supercapacitors.
On the other hand, North America is anticipated to hold a significant share of the supercapacitors market owing to the rising demand for supercapacitors from large and medium-sized enterprises. Moreover, the increasing focus on renewable energy in the region is also driving the demand for supercapacitors which in turn boosts the market expansion. Furthermore, Europe is expected to experience significant growth in the supercapacitors market during the forecast period. This growth can be attributed to the expanding automobile sector and the rising demand for electric vehicles. In addition to this, the increasing government initiatives for reducing the carbon emissions are anticipated to propel the supercapacitors market over the forecast period.
On the other hand, North America is anticipated to hold a significant share of the supercapacitors market owing to the rising demand for supercapacitors from large and medium-sized enterprises. Moreover, the increasing focus on renewable energy in the region is also driving the demand for supercapacitors which in turn boosts the market expansion. Furthermore, Europe is expected to experience significant growth in the supercapacitors market during the forecast period. This growth can be attributed to the expanding automobile sector and the rising demand for electric vehicles. In addition to this, the increasing government initiatives for reducing the carbon emissions are anticipated to propel the supercapacitors market over the forecast period.
The report provides a detailed overview of the supercapacitors market insights in regions including North America, Latin America, Europe, Asia-Pacific, Oceania, and the Middle East and Africa. The country-specific assessment for the supercapacitors market has been offered for all regional market share, along with forecasts, market scope estimates, price point assessment, and impact analysis of prominent countries and regions. Throughout this market research report, Y-o-Y growth and CAGR estimates are also incorporated for every country and region, to provide a detailed view of the supercapacitors market. These Y-o-Y projections on regional and country-level markets brighten the political, economic, and business environment outlook, which are anticipated to have a substantial impact on the growth of the supercapacitors market. Some key countries and regions included in the supercapacitors market report are as follows:
| North America | United States, Canada |
| Latin America | Brazil, Mexico, Argentina, Colombia, Chile, Rest of Latin America |
| Europe | Germany, United Kingdom, France, Italy, Spain, Russia, Netherlands, Switzerland, Poland, Belgium, Sweden, Austria, Norway, Denmark, Finland, Rest of Europe |
| Asia Pacific | China, India, Japan, South Korea, Australia & New Zealand, Indonesia, Malaysia, Singapore, Thailand, Vietnam, Philippines, Rest of Asia Pacific |
| Middle East and Africa | GCC Countries, South Africa, Nigeria, Egypt, Turkey, Morocco, Ethiopia, Algeria, Israel, Iran, Kenya, Rest of MEA |
Supercapacitors Market Research Report Covers In-depth Analysis on:
- Supercapacitors market detailed segments and segment-wise market breakdown
- Supercapacitors market dynamics (Recent industry trends, drivers, restraints, growth potential, opportunities in supercapacitors industry)
- Current, historical, and forthcoming 10 years market valuation in terms of supercapacitors market size (US$ Mn), volume (Units), share (%), Y-o-Y growth rate, CAGR (%) analysis
- Supercapacitors market demand analysis
- Supercapacitors market pricing analysis over the forecast period (by key segment and by region)
- Supercapacitors market regional insights with a region-wise market breakdown
- Competitive analysis – key companies profiling including their market share, product offerings, and competitive strategies.
- Latest developments and innovations in supercapacitors market
- Regulatory landscape by key regions and key countries
- Supply chain and value chain analysis in supercapacitors market
- Supercapacitors market sales and distribution strategies
- A comprehensive overview of the parent market
- A detailed viewpoint on supercapacitors market forecast by countries
- Mergers and acquisitions in supercapacitors market
- Essential information to enhance market position
- Robust research methodology
- Frequently Asked Questions -
What are the key applications driving the demand for supercapacitors?
Supercapacitors are widely used in energy storage, automotive, consumer electronics, renewable energy systems, and industrial automation due to their high power density, fast charging, and long cycle life.
What are the latest technological trends in the supercapacitors market?
Emerging trends include hybrid supercapacitors, graphene-based materials, miniaturized designs for wearable devices, and advancements in energy storage integration for electric vehicles and renewable systems.
What are the challenges faced by the supercapacitors market?
Challenges include high initial costs, lower energy density compared to batteries, limited awareness in emerging markets, and competition from alternative energy storage technologies.
