Automotive Supercapacitors Market Size - Global Industry, Share, Analysis, Trends and Forecast 2024 - 2032

Automotive Supercapacitors Market Highlights

• Global automotive supercapacitors market revenue is poised to garner USD 7.5 billion by 2032 with a CAGR of 22.0% from 2024 to 2032
• Asia-Pacific automotive supercapacitors market value occupied around USD 566.3 million in 2023
• Asia-Pacific automotive supercapacitors market growth will record a CAGR of more than 23.5% from 2024 to 2032
• Among product type, the electrochemical double layer capacitor sub-segment generated more than USD 836.5 million revenue in 2023
• Based on application, the passenger vehicle sub-segment generated notable automotive supercapacitors market share in 2023
• Ongoing R&D investments promise further improvements in performance and cost-efficiency is a popular automotive supercapacitors market trend that fuels the industry demand

Automotive supercapacitors are novel energy storage technologies that, unlike conventional batteries, charge and discharge quickly. They store electrical energy utilizing electrochemical double-layer capacitance or pseudocapacitance, allowing for short bursts of power and quick energy recovery. These supercapacitors are employed in a range of automotive systems, such as start-stop systems, kinetic energy recovery systems, and auxiliary power applications, resulting in higher overall energy efficiency and performance. Their capacity to absorb and release energy quickly makes them suitable for regenerative braking in hybrid and electric automobiles. Despite having a lower energy density than conventional batteries, automotive supercapacitors have longer life cycles, better thermal stability, and a higher power density, making them a suitable complement to modern vehicle energy management systems.

Global Automotive Supercapacitors Market Dynamics

Market Drivers

• Increasing demand for hybrid and electric vehicles drives the need for rapid energy storage solutions
• Technological advancements in supercapacitor design enhance power density and efficiency
• Growing emphasis on regenerative braking systems boosts automotive supercapacitor integration
• Supportive government policies and incentives for sustainable mobility accelerate market growth

Market Restraints

• High production costs and limited economies of scale restrict broader market adoption
• Lower energy density compared to conventional batteries limits some automotive applications
• Integration challenges with existing vehicle architectures slow down deployment

Market Opportunities

• Expansion into emerging markets with rising electric vehicle penetration offers significant growth potential
• Strategic partnerships with automotive OEMs facilitate technology integration and market acceptance
• Development of hybrid energy storage systems combining supercapacitors and batteries can unlock new application areas

Automotive Supercapacitors Market Report Coverage

Automotive Supercapacitors Market Insights

With the advent of electric or hybrid vehicle technology on global level the demand for supercapacitors is increasing. Changing government regulations and rising environmental concern is forcing auto manufactures across the globe to focus on development and introducing new electric vehicles and hybrid vehicles that are reliable. Supercapacitors are capable of releasing high amount of energy in order to power the vehicle along with advantage for multiple charging without degradation. These factors are responsible to drive the growth of the global market.

Deployment of supercapacitors in premium electric vehicles in order to supply high power for acceleration with lighter weight is expected to support the growth of the target market. The Italian automotive sport vehicle manufacturer Automobili Lamborghini S.p.A introduced its first supercapacitor-based hybrid vehicle Sián. The vehicle has 48-V e-motor and delivers 34 hp at low-voltage. High spending by the public and private players for research and development activities and introduction of new innovative products is expected to further support the growth of target market to a certain extent.

Moreover, availability of various subsidies on electric vehicles, rising adoption of hybrid vehicles in developed and developing countries such as US, China, UK, etc. is expected to impact the market growth. However, factors such as limitations to power storage as compared to batteries is a major factor expected to hamper the market growth. In addition, lack of infrastructural facilities for effective deployment is expected to limit the market growth.

Technological advancements by major players and collaboration with various institutes for R&D activities in order to introduce new products are expected to create new revenue opportunities over the forecast period. Lamborghini and Massachusetts Institute of Technology (MIT) have patented a new technological advanced synthetic material for auto makers for a new generation of supercapacitors that is able to improve the energy density of the material up to 100% as compared to technology currently on the market.

Automotive Supercapacitors Market Segmentation

The worldwide market for automotive supercapacitors is split based on product type, system type, application, and geography.

Automotive Supercapacitor Market By Product Type

• Electrochemical Double Layer Capacitor (EDLC)
• Hybrid Capacitor
• Pseudocapacitors

According to automotive supercapacitors industry analysis, the electrochemical double layer capacitor (EDLC) category is predicted to account for the largest percentage. This dominance stems from the EDLC's particular features, which perfectly fulfill the requirements of modern automobiles. EDLCs excel in delivering high power density, allowing for rapid charge and discharge. This makes them ideal for applications such as regenerative braking, which necessitate rapid energy capture and release. Furthermore, EDLCs have an extraordinarily long cycle life, withstanding several charge-discharge cycles without significant degradation. This hardness is significant in automotive applications where dependability and longevity are essential. While hybrid capacitors and pseudocapacitors have distinct advantages, the EDLC's balance of power density, cycle life, and proven technology makes it the best choice for automotive supercapacitor applications.

Automotive Supercapacitor Market By System Type

• Battery Propulsion System
• Start Stop System
• Kinetic Energy Recovery System
• Starting Lighting and Ignition System

Among the system types in the automotive supercapacitors market, the kinetic energy recovery system (KERS) segment is expected to be particularly relevant. KERS allows vehicles to catch and store energy that is generally lost during braking, which is subsequently redeployed to improve acceleration and overall economy. This method is particularly useful in hybrid and electric vehicles, where energy efficiency and environmental sustainability are critical. Supercapacitors, with their rapid charge and discharge characteristics, are ideal for these applications because they provide effective energy recovery and fast power delivery. As supercapacitor design and integration improve, the KERS segment is likely to gain traction, contributing to the expansion of modern, energy-efficient vehicle technology. This steady increase is expected to drive global market expansion.

Automotive Supercapacitor Market By Application

• Passenger Vehicle
• Commercial Vehicle

The sorts of automobiles that use energy storage devices have a significant impact on the automotive supercapacitors market.  Currently, the passenger vehicle sector dominates this industry. This is partly owing to an increasing number of passenger automobiles featuring features that greatly benefit from supercapacitor technology. Consider systems like start-stop, which enhance fuel efficiency by turning off the engine when it's idle. Supercapacitors excel at supplying the small bursts of power needed for frequent restarts. Regenerative braking is a major use in addition to start-stop systems.  Supercapacitors in electric and hybrid vehicles may store energy while braking and quickly return it to the motor, enhancing overall efficiency.  As the number of electric vehicles increases, so will the demand for supercapacitors.

Automotive Supercapacitors Market Regional Outlook

North America

• U.S.
• Canada

Europe

• U.K.
• Germany
• France
• Spain
• Rest of Europe

Asia-Pacific

• India
• Japan
• China
• Australia
• South Korea
• Rest of Asia-Pacific

Latin America

• Brazil
• Mexico
• Rest of LATAM

The Middle East & Africa

• South Africa
• GCC Countries
• Rest of the Middle East & Africa (ME&A)

Automotive Supercapacitors Market Regional Analysis

Asia-Pacific market is expected to be the largest and witness faster growth due to high passenger vehicle sale in developing countries and inclination towards adoption of electric vehicles from consumers. In addition, high government spending on developing electric vehicle infrastructure in order to facilitate the adoption of hybrid vehicles is expected to support the growth of regional market. Moreover, easy availability of raw material and low cost labor is attracting major players towards developing countries along with introduction of new electric vehicles is expected to further impact the market growth.

The market in North America is expected to account of notable revenue share in the automotive supercapacitors market forecast period due to presence of large number of auto players and rising demand for supercapacitors. Government focus of deploying reliable and high power electric and hybrid vehicles along with introduction of new passenger vehicles is expected to further support the regional market growth.

In addition, business development activities through strategic merger and acquisitions in order to increase customer base are expected to further support the market growth. Tesla and electric auto manufacturer acquired Maxwell Technologies for US$ 200 Mn. This acquisition will help the auto maker in deploying supercapacitors in the upcoming vehicles.

Automotive Supercapacitors Market Players

Some of the top automotive supercapacitors companies offered in our report include Tesla Inc., Skeleton Technologies GmbH, Eaton Corporation, Targray Technology International, Hitachi, Ltd., Murata Manufacturing Co., Ltd., AVX Corporation, Samsung SDI Co Ltd, Panasonic Corporation, and Nippon Chemical Industrial Co., Ltd.