Global Supercapacitor Market to Generate Revenue of USD 20.12 Billion by 2030, Registering Robust Growth at 19.68% CAGR, Driven by Rising Demand Across Diverse Industries, Estimates Kings Research
DUBAI, UAE, Dec. 7, 2023 /PRNewswire/ -- According to the recent report released by Kings Research, the global Supercapacitor Market size was recorded at USD 4.78 billion in 2022 and is estimated to grow to USD 20.12 billion by 2030, exhibiting a CAGR of 19.68% through the projection period of 2023-2030. Supercapacitors are increasingly being utilized to enhance the generation of renewable energy. As the construction of clean energy facilities continues to soar, this trend is fueling the expansion of the market. Furthermore, they are emerging as a leading technology for pitch control in large wind turbines, which in turn drives the global adoption of wind power and stimulates the industry's progress.
Supercapacitors are an innovative electrochemical device that serves as a middle ground between conventional capacitors and batteries. These devices store and release energy by reversibly adsorbing and desorbing ions at the interfaces between their electrodes and electrolytes. One notable advantage is their capability to rapidly generate substantial bursts of power, making them well-suited for situations requiring high-energy output. Moreover, supercapacitors present an effective option for energy storage at the grid level, due to their ability to efficiently absorb and release energy and handle charge and discharge cycles.
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Trending Now: Abracon Announces the Launch of an All-New Line of 3.0V and 2.7V EDLC Radial Supercapacitors.
In October 2023, Abracon, a prominent supplier of Frequency Control, Timing, Power, Magnetics, RF, and Antenna solutions, introduced a brand-new range of radial supercapacitors with 2.7V and 3.0V EDLC. These supercapacitors possess exceptional performance, reliability, and versatility, making them capable of transforming energy supply and storage.
Abracon has developed and created a brand-new series of supercapacitors, which are commonly referred to as ultracapacitors in the industry. These innovative supercapacitors have been specifically designed to meet the increasing need for energy storage solutions with high capacity and fast-charging capabilities in various industries such as automotive, renewable energy, industrial automation, and consumer electronics.
Competitive Landscape
Major players operating in the global supercapacitor market are prioritizing product development in order to gain a competitive edge. For instance, in September 2022, ATX Networks introduced the ATX SCE Series Supercapacitor Energy Storage Solutions, which presented notable advancements compared to other backup power sources. This innovative solution offers suppliers an environmentally friendly, secure, space-efficient, and durable energy storage option that can easily accommodate future infrastructure expansions.
Key participants in the global supercapacitor market include:
- Abracon
- Eaton
- Maxwell Technologies
- Nippon Chemi-Con Corporation
- Sinovoltaics Group Limited
- Skeleton Technologies
- TDK Corporation
- ATX Networks
- KYOCERA AVX Components Corporation
- TTI, Inc.
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The global Supercapacitor Market is segmented as:
By Type
- Double Layer Capacitors
- Hybrid Capacitors
- Pseudo Capacitors
- Others
Rising Use of Double Layer Capacitors in Consumer Electronics to Fuel Market Progress
In terms of type, the double layer capacitor segment is anticipated to lead the global supercapacitor market through the projection period. The rise in need for advanced supercapacitor components in consumer electronics, including smartphones, computers, and laptops, has contributed to market growth. A number of battery manufacturers are expanding their product offerings to include double-layer capacitors due to their unique properties, distinguishing them from conventional batteries and positioning them as a cleaner energy source.
By End-User
- Automotive
- Electronics
- Energy
- Medical
- Aviation
- Others
Growing Demand for Supercapacitors in the Automotive Sector to Boost Supercapacitor Market Expansion
On the basis of end-user, the automotive segment accounted for the largest share of the global supercapacitors market in 2022, primarily due to its vital role in enhancing fuel efficiency, reducing waiting times, ensuring stable capacity, and improving overall vehicle performance. Electric vehicle advancements have resulted in an increased need for supercapacitors within the automotive sector. This is because supercapacitors possess exceptional capacity and can operate over a broad range of temperatures.
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Surging Need for Effective Electricity Generation to Propel Product Demand
Supercapacitors have become increasingly important in various industries, due to the growing requirement for effective electricity generation and transfer equipment. Additionally, the occurrence of power outages has also contributed to their significance. In response to environmental concerns, a growing number of government agencies are prioritizing the implementation of strict policies aimed at reducing carbon dioxide emissions and promoting the use of renewable energy sources. With the growing popularity of electric vehicles (EVs) and the integration of solar and wind energy into the grid, the demand for high-capacity devices continues to rise.
Supercapacitors possess the ability to generate a restricted amount of energy, making them well-suited for handling power requirements. They are particularly useful in scenarios that involve acceleration, regenerative braking, or sudden shifts in load, as they can swiftly deliver the necessary power. With the increasing demand for electricity, supercapacitors are becoming a pivotal tool for supporting the advancement of a sustainable energy future.
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Asia Pacific to Lead Supercapacitor Market due to Rising Adoption in Military and Defence Sector
Asia Pacific region is likely to hold the dominant position in the supercapacitor market by the end of the forecast period, due to the growth in electric vehicle sales and the utilization of electronic double layer capacitors. Moreover, there is an increase in the adoption of supercapacitors by the military and defense sector for the production of equipment such as laser weapons, rail weapons, and heavy mobile vehicles. Additionally, the region is witnessing significant investments by numerous government agencies, further driving market expansion.
Supercapacitors find applications in various fields, such as electric vehicles, renewable energy systems, and consumer electronics, among others, throughout the region. With continual advancements, supercapacitors are expected to become even more effective and versatile in the future. Factors such as the increasing integration of supercapacitors with batteries, the emphasis on reducing pollution, and the decreasing cost of automobiles are also contributing to the growing demand for supercapacitors across the Asia Pacific.
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Key Points from TOC:
Chapter 1 Introduction of the Global Supercapacitor Market
1.1 Market Definition
1.2 Market Segmentation
1.3 Research Timelines
1.4 Limitations
1.5 Assumptions
Chapter 2 Executive Summary
Chapter 3 Research Methodology
3.1 Data Collection
3.2 Subject Matter Expert Advice
3.3 Quality Check
3.4 Final Review
3.5 Bottom-Up Approach
3.6 Top-down Approach
Chapter 4 Global Supercapacitor Market Outlook
4.1 Market Evolution
4.2 Overview
4.3 Market Dynamics
4.4 Pricing Analysis
4.5 Porter's Five Forces Analysis
4.6 Value Chain Analysis
4.7 Macroeconomic Analysis
Chapter 5 Impact of Russia-Ukraine War
Chapter 6 Global Supercapacitor Market, By Type
Chapter 7 Global Supercapacitor Market, By End-User
Chapter 8 Global Supercapacitor Market, By Geography
Chapter 9 North America
Chapter 10 Europe
Chapter 11 Asia Pacific
Chapter 12 Middle East & Africa
Chapter 13 Latin America
Chapter 14 Global Supercapacitor Market Competitive Landscape
14.1 Overview
14.2 Key Developments
14.3 Key Strategic Developments
14.4 Company Market Ranking
14.5 Regional Footprint
14.6 Industry Footprint
Chapter 15 Company Profiles
15.1 Abracon
15.1.1 Key Facts
15.1.2 Financial Overview
15.1.3 Type Benchmarking
15.1.4 Recent Developments
15.1.5 Winning Imperatives
15.1.6 Current Focus & Strategies
15.1.7 Threat from competition
15.1.8 SWOT Analysis
15.2 Eaton
15.2.1 Key Facts
15.2.2 Financial Overview
15.2.3 Type Benchmarking
15.2.4 Recent Developments
15.2.5 Winning Imperatives
15.2.6 Current Focus & Strategies
15.2.7 Threat from competition
15.2.8 SWOT Analysis
15.3 Maxwell Technologies
15.3.1 Key Facts
15.3.2 Financial Overview
15.3.3 Type Benchmarking
15.3.4 Recent Developments
15.3.5 Winning Imperatives
15.3.6 Current Focus & Strategies
15.3.7 Threat from competition
15.3.8 SWOT Analysis
15.4 Nippon Chemi-Con Corporation
15.4.1 Key Facts
15.4.2 Financial Overview
15.4.3 Type Benchmarking
15.4.4 Recent Developments
15.4.5 Winning Imperatives
15.4.6 Current Focus & Strategies
15.4.7 Threat from competition
15.4.8 SWOT Analysis
15.5 Sinovoltaics Group Limited
15.5.1 Key Facts
15.5.2 Financial Overview
15.5.3 Type Benchmarking
15.5.4 Recent Developments
15.5.5 Winning Imperatives
15.5.6 Current Focus & Strategies
15.5.7 Threat from competition
15.5.8 SWOT Analysis
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