Supercapacitor Market is Expected to Gain Popularity Across the Globe by 2027

Backed by the robust growth of the automotive sector and accelerating industrial automation, the global supercapacitor market may record a valuation of USD 5 billion by 2027, suggests a research report by GMI Inc.


Ravi Bankar

9 months ago | 3 min read

Backed by the robust growth of the automotive sector and accelerating industrial automation, the global supercapacitor market may record a valuation of USD 5 billion by 2027, suggests a research report by GMI Inc.

Supercapacitors are critical for various industrial applications, including automobiles, electronics, batteries, etc., that require numerous immediate charge or discharge cycles instead of long-term energy storage. The increasing emphasis on using clean energy sources driven by the rising global concerns towards environmental sustainability has significantly pushed the adoption of electric vehicles over recent years. The constant evolution of technology and consistent efforts by the leading tech players has paved the way for automation and innovations in enterprises across the globe.

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The growth of the supercapacitor market is primarily attributed to the immense proliferation of robotics and other advanced technologies like Automated Guided Vehicles in the last few years. As per the recent statistics by the Association for Advancing Automation, the overall robot sales increased by 28% between 2020–21. Escalating government investments to advance the automobile sector and increasing product integration across rechargeable devices like laptops, tablets, smartphones, etc., driven by high energy storage requirements, will fuel the supercapacitor industry trends in the forthcoming years.

Advancing electric vehicle sales

As per the data by the International Energy Agency, the sales of electric cars reached 6.6 million in 2021, representing nearly 9% of the global car market. The number is almost twice the cars sold last year and more than thrice in the year earlier.

The report estimates there are around 16 million electric cars on the road across the globe consuming nearly 30TWh of electricity per year.

These rising sales are driven by the increasing focus on using clean and renewable energy and growing concerns towards reducing harmful emissions and carbon footprints. Further, constantly inflating prices of fossil fuels has positively influenced the sales of these vehicles in the last few years, thus pushing the supercapacitor market outlook.

Increasing adoption of AGVs

AGVs or Automated Guided Vehicles have been used for manufacturing, distribution, and warehousing applications across automobile, pharmaceutical, food and beverages, chemical, plastics, printing industries. Tech players across the globe are focusing on leveraging the benefits of AGVs exceeding the ongoing manual handling applications to assess the processing facility uses of these vehicles.

With a similar intent, in February 2022, the Australian Meat Processing firm advanced a program “Spot the dog” to test the uses of AGV for the meat processing market. The spot is a prototype that commutes on four legs with exceptional mobility, enabling fully autonomous AI-driven tasks on the plant.

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Such innovations are likely to boost the supercapacitor market forecast in the times to come.

Extended government support to the automobile sector

Recently, the Indian government launched a Production linked Incentive scheme with a view to facilitating foreign establishments to discover the workforce in the country and thereby induce employment opportunities while encouraging domestic and local production to produce micro-jobs. The PIL scheme for automobile and auto components has attracted an additional 76% investment committing Rs 74850 Cr funding which is 29,834 Cr more than the planned outlay of Rs 42,500 Cr.

Such initiatives will help the automobile industry overcome cost disabilities, develop economies of scale, build a strong supply chain in regions of Advanced Automotive Technologies and gain traction not only in the domestic market but also internationally. With expansive deployment across a spate of verticals, supercapacitors market share is anticipated to depict an upsurge in the years to come.

Partial Chapter of the Table of Content

Chapter 1 Methodology and Scope

1.1 Scope & definition

1.2 Methodology & forecast

1.3 Impact of COVID-19, by region

1.3.1 North America

1.3.2 Europe

1.3.3 Asia Pacific

1.3.4 Latin America

1.3.5 MEA

1.4 Data Sources

1.4.1 Primary

1.4.2 Secondary

Chapter 2 Executive Summary

2.1 Supercapacitor market 3600 synopsis, 2016–2027

2.1.1 Business trends

2.1.2 Regional trends

2.1.3 Type trends

2.1.4 Electrode material trends

2.1.5 Application trends

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Created by

Ravi Bankar







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