Supercapacitor Market Size, Share, Growth Analysis, By Application(Automotive, Energy, Consumer Electronics, Industrial), By Type(Double Layered Capacitors, Pseudo Capacitors, Hybrid Capacitors), By Region - Industry Forecast 2024-2031

Global Supercapacitor Market size was valued at USD 455.34 Billion in 2022 and is poised to grow from USD 520 Billion in 2023 to USD 1504.29 Billion by 2031, growing at a CAGR of 14.20% in the forecast period (2024-2031).

Supercapacitor batteries have a wider operating temperature range than conventional batteries, can withstand more fluctuations and discharge cycles, and supply power that is stabilised, thus boosting its sales in the global market. The Vikram Sarabhai Space Centre (VSSC) of the Indian Space Research Organisation (ISRO) has developed the technology for processing supercapacitors (2.5 V) with variable capacitance values, such as 5 F, 120 F, 350 F, and 500 F, to meet the demands of specialised applications in the field of space exploration and societal needs. Hybrid electric vehicles can be more efficient in a number of ways thanks to the usage of supercapacitors. The rise of supercapacitors in the automotive industry has been pushed by many market vendors experiencing greater sales in the electric car sector. For instance, according to EV volumes, sales of 10,6 million units were predicted for the entire year of 2022, representing a gain of 57% over 2021, with BEVs reaching 8 million units and PHEVs 2,6 million units. Additionally, it was predicted that there would be nearly 27 million EVs in use by the end of 2022, including light vehicles, 70% BEVs, and 30% PHEVs.

US Supercapacitor Market is poised to grow at a sustainable CAGR for the next forecast year.