PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1455667
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1455667
Graphene-Based Supercapacitors Market size was valued at USD 3,400.34 Million in 2023, expanding at a CAGR of 21.34% from 2024 to 2032.
The supercapacitor, distinguished by its capacity surpassing that of standard capacitors yet constrained by lower voltage limits, serves to bridge the gap between electrical and rechargeable capacitors. Typically capable of storing 10 to 100 times more energy per unit volume or mass, it offers faster charging and discharging rates than batteries while enduring significantly more charging and discharging cycles than rechargeable batteries. Supercapacitors find utility in applications necessitating multiple rapid charging and discharging cycles, such as regenerative braking, short-term energy storage, or power supplies in vehicles like cars, buses, trains, cranes, and lifts. Smaller units are employed for power backup in static randomaccess memory (SRAM). Rechargeable and versatile, supercapacitors find application across a wide spectrum of industries, from machinery to smart meters. While they boast advantages such as rapid charging and extended lifespans over batteries, their energy storage capacity is comparatively limited.
Graphene-Based Supercapacitors Market- Market Dynamics
Increasing demand for storage capacity across various industries to propel market demand
The Global Graphene Supercapacitors Market is predominantly steered by the escalating demand for storage capacity across various industries worldwide. Additionally, shifts in trends and burgeoning advancements in electronics and automotive sectors are poised to drive the Graphene Supercapacitors Market growth in the foreseeable future. The mounting need for graphene supercapacitors in the power and energy sector represents another significant growth driver expected to bolster market size in the coming years. Nonetheless, fluctuating prices of raw materials may impede market growth. The increasing demand for environmentally friendly energy storage devices and materials is anticipated to spur growth in the Graphene Supercapacitors Market. Technological breakthroughs aimed at developing cost-effective products are also projected to positively impact growth. Moreover, the expanding application scope of supercapacitors, encompassing advantages such as power backup supplies for industrial and residential purposes, is anticipated to drive demand for the Graphene Supercapacitors Market. The imperative to enhance the durability of machinery components to mitigate high replacement costs across various end-use industries, including energy and power, will propel the Graphene Supercapacitors Market. Furthermore, increased research and development expenditure aimed at enhancing the energy density and efficiency of supercapacitors, coupled with reductions in production expenses, will stimulate product demand.
Graphene-Based Supercapacitors Market- Key Insights
As per the analysis shared by our research analyst, the global market is estimated to grow annually at a CAGR of around 21.34% over the forecast period (2024-2032)
Based on product type segmentation, Electrical Double Layer Capacitors was predicted to show maximum market share in the year 2023
Based on End User segmentation, Wind and Solar Power was the leading type in 2023
On the basis of region, North America was the leading revenue generator in 2023
The Global Graphene-Based Supercapacitors Market is segmented on the basis of Product Type, End User, and Region.
The market is divided into three categories based on product type: Electrical Double Layer Capacitors, Faraday Quasi Capacitors, and Hybrid Capacitors. In 2023, Electrical Double Layer Capacitors emerged as the dominant force in the market. This is attributed to their utilization of carbon or its derivatives, which offer significantly higher capacity than electrochemical pseudo capacity. These capacitors function by isolating loads from an electrostatic conductive electrode located at the junction of a Helmholtz double layer and an electrolyte.
The market is divided into five categories based on End User: Wind and Solar Power, Traffic, Industrial Equipment, Consumer Electronics, and Other. In 2023, the Wind and Solar Power segment asserted its dominance in the global market by application. The escalating global demand for renewable energy sources like solar and wind, coupled with the increased usage of wireless electronics, is driving this trend. These renewable energy sources often necessitate new storage technologies, including heat storage, smart batteries, and hydrogen fuel cells, thereby intensifying the demand for storage capacity.
Graphene-Based Supercapacitors Market- Geographical Insights
Geographically, this market is widespread into the regions of North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. These regions are further divided as per the nations bringing business.
In the market, companies specializing in graphene-based supercapacitors concentrate on harnessing graphene's unique properties to develop high-performance energy storage solutions for various applications. They allocate resources to research and development initiatives aimed at optimizing electrode materials, device architectures, and manufacturing processes to enhance energy density, power density, and cycling stability. Moreover, these companies explore scalable production methods for graphene and graphene-based composites to reduce costs and facilitate commercialization. Furthermore, marketing endeavors underscore the advantages of graphene-based supercapacitors, such as rapid charging capabilities, extended cycle life, and suitability for diverse applications ranging from portable electronics to electric vehicles and renewable energy storage systems.
In February 2019, a research team led by Tohoku University in Japan unveiled new materials for supercapacitors exhibiting higher voltage and enhanced stability compared to other materials. Their findings were recently published in the journal Energy and Environmental Science.
GLOBAL GRAPHENE-BASED SUPERCAPACITORS MARKET KEY PLAYERS- DETAILED COMPETITIVE INSIGHTS
Angstron Materials
ХG Sciences
Bluestone Global Tech
Applied Graphene Materials
Graphene Technologies
Grafen
Vorbeck
Graphage
Allightec CO.
Qingdao Huagao Energy Technology
Others