Supercap market to boom, says report

Supercap market to boom, says report

Business news |
Market researchers IDTechEx estimate that the high-power energy storage market is expected to grow to $2bn a year by 2026 up from about $240m currently.  Supercapacitors could capture about $800m to $1bn of that potential market opportunity.
By Rich Pell

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After a couple of years of stagnation the supercapacitor industry is showing renewed signs of market penetration, mostly in the automotive sector with the adoption of supercapacitor technology in the US by General Motors, says Franco Gonzalez, Senior Technology Analyst at IDTechEx. Supercapacitor products are incrementally improving performance reaching 3 V and higher temperature performance as required by early adopters such as the automotive sector, where lithium titanate batteries will be the main competitor, he says.

While lithium-ion batteries increasingly capturing the market of other battery technologies, they are unable to compete with supercapacitor technology in terms of power and number of cycles. Supercapacitors are gaining traction in markets such as the rail sector and opening new possibilities in emerging sectors such as grid energy storage. This means the number of companies is set to rise from 80 in 2015 to over 200 by 2023, says the report, which will lead to companies manufacturing supercapacitors in Europe.

However, the supercapacitor market in China for western companies remains highly uncertain and western companies look to diversify in two directions, first out of the Chinese electric bus market and secondly into emerging segments such as the electricity grid, says Gonzalez. The grid market which includes wind turbines, grid energy storage and rail wayside offers opportunities for growth for all players, but supercapacitors are becoming the dominant technology in wind turbine pitch control applications and the global uptake of wind renewable energy will favour the growth of supercapacitor technology.

Current players in the supercapacitor market

This new report is available at www.IDTechEx.com/supercaps

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