Electric Double-layer Capacitor (EDLC) Market Analysis North America, APAC, Europe, South America, Middle East and Africa - US, China, Japan, Germany, South Korea - Size and Forecast 2024-2028

Electric Double-Layer Capacitor (EDLC) Market Size 2024-2028 

The electric double-layer capacitor (EDLC) market size is projected to increase by USD 1.21 billion at a CAGR of 18.52% between 2023 and 2028.  Electric Double-Layer Capacitors (EDLCs) have emerged as a significant player in the energy storage market, driven by their distinct advantages over traditional batteries. EDLCs boast a prolonged life cycle, which reduces replacement frequency and lowers overall costs. Moreover, their high capacitance enables faster charge-discharge rates, making them ideal for applications requiring quick power delivery. The increasing adoption of electric vehicles (EVs) and the subsequent replacement of conventional rechargeable batteries with EDLCs further bolsters the market growth. This trend is expected to continue, as EDLCs offer improved energy density, power density, and longer cycle life compared to their counterparts. Consequently, the market for EDLCs is poised for robust expansion in the coming years.

The market growth and forecasting report includes key player's detailed analyses of the competitive landscape of the market and information about key companies, including CAP XX Ltd., Eaton Corp. Plc, Kyocera Corp., LS Corp., Murata Manufacturing Co. Ltd., NICHICON Corp., Nippon Chemi Con Corp., Panasonic Holdings Corp., Samwha Electronics, Skeleton Technologies GmbH, Supreme Power Solutions Co. Ltd., Systematic Power Manufacturing LLC, Taiwan Semiconductor Manufacturing Co. Ltd., TAIYO YUDEN Co. Ltd., TDK Corp., Tecate Group, UCAP Power Inc., Vishay Intertechnology Inc., Yageo Corp., and Yunasko Ltd. Additionally, CAP XX Ltd. offers electric double-layer capacitors (EDLC) such as CAP-XX ultra-thin prismatic supercapacitors, CAP-XX small cylindrical cell supercapacitors, CAP-XX large cylindrical cells and coin cell supercapacitors for asset tracking, smart meters, wearables, wireless sensors.

What will be the Size of the Market During the Forecast Period?

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Key Companies & Market Insights

Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.

Eaton Corp. Plc: The company offers electric double-layer capacitors (EDLC) such as B supercapacitor, HB supercapacitor, HV supercapacitor, PB supercapacitor and PHB supercapacitor.

Market analysis and report of qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.

Market Segmentation 

By Product 

The market share growth by the flat style EDLC segment will be significant during the forecast period. Flat style EDLCs are known for their flat, rectangular, or square shapes. These capacitors are designed to meet the needs of applications where space efficiency is paramount. One of the main application areas of flat EDLC is in the field of consumer electronics.

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The flat style EDLC segment showed a gradual increase in the market share of USD 233.20 million in 2018. Additionally, flat style EDLC is used in a wider range of industrial and commercial applications. These are often integrated into emergency power systems, Internet of Things (IoT) devices, and various electronic control devices. Their compact size allows for flexible installation within these systems, ensuring a stable power supply and increased system reliability. Therefore, the increasing adoption of flat EDLC is expected to drive the market growth of this segment during the forecast period due to its numerous advantages.

By Application 

The global electric double-layer capacitor market in the automotive sector is expected to grow significantly as vehicles, especially passenger cars, transition from mechanically driven mobility vehicles to high-end electronic or electrically influenced vehicles. Additionally, due to high CO2 emissions from fossil fuels and increasing regulatory standards regarding environmental safety, the automotive industry tends to produce more electric vehicles each year than conventional fuel vehicles. EDLC has a very high capacitance value and is therefore used as an auxiliary power unit in electric vehicles. Owing to the increasing production and demand for electric vehicles, the demand for EDLC in this segment is expected to increase during the forecast period.

By Region

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APAC is estimated to contribute 40% to the growth of the global market during the forecast period. Technavio's analysts have provided an extensive insight into the market forecast, detailing the regional trends and drivers influencing the market's trajectory throughout the forecast period.

Another region offering significant growth opportunities to market players is North America. Energy infrastructure is a major contributor to the growth of the North American electric double-layer capacitor market. The US power grid is long-lasting and requires a lot of maintenance. The expansion of the US power grid is likely to increase the demand for low-voltage capacitors. Additionally, the reconstruction of the old power grid is expected to be completed, which is expected to increase the demand for EDLC during the forecast period.

Market Dynamics 

The market leverages cutting-edge materials like graphene and carbon nanotubes to revolutionize energy storage for renewable energy applications. Recognized by entities such as the EU Parliament, EDLCs play a vital role in harnessing wind energy across EU sea basins, supported by initiatives like Windflix Europe and innovations from companies like Maxwell Technologies. With features like ultramicro supercapacitors, EDLCs cater to diverse sectors including consumer electronics, streetlights, and medical devices, driving the transition to electric cars with their highpower density and energy efficiency. Emphasizing performance dependability and environmental sustainability, EDLCs offer cost-effectiveness and adhere to quality standards, making them ideal for portable electronics and enabling quicker charging times and increased efficiency through features like regenerative braking, addressing environmental concerns in the pursuit of sustainable energy solutions. Our researchers analyzed the market research and growth data with 2023 as the base year, along with the key market growth analysis, trends, and challenges. A holistic analysis of drivers, trends, and challenges will help companies refine their marketing strategies to gain a competitive advantage. 

Key Market Driver

The high capacitance of EDLCs is the key factor driving the growth of the market. EDLC measures its capacity in millions of microfarads (Farads). EDLC can store large amounts of charge and release it quickly, like a  pulse discharge capacitor, or slowly, like a battery. Energy industry researchers are increasingly adopting sustainable and renewable energy technologies, increasing the demand for high-capacity storage devices.

In addition, there is an increasing reliance on power generation from renewable energy sources (wind, solar, hydropower, etc.), hybrid and electric vehicles, and large-scale energy storage systems, smart grids, whose high capacity significantly drives the demand for EDLC. Therefore, such factors will drive the growth of the global EDLC market during the forecast period.

Major Market Trends

The growing adoption of graphene and carbon nanotube EDLCs is the primary trend in the market. The EDLCs available in the market are very expensive and have restricted scalability. To overcome these limitations, companies are focusing on producing EDLCs based on carbon nanotubes and graphene. EDLCs made from a combination of nanotubes and graphene can store large amounts of energy. This energy can be released quickly, causing a surge of electricity. 

Additionally, market players are investing heavily in research and development to gain a competitive advantage in the global electric double-layer capacitor market. Companies are currently focusing on developing hybrid capacitors. Such technological developments in the EDLC market will lead to increasing use of graphene and carbon nanotubes in EDLC devices, driving the growth of the global EDLC market during the forecast period.

Significant Market Challenge

Growing penetration of Li-ion batteries is a challenge that affects the growth of the market. The global lithium-ion battery market has grown significantly over the past decade. High energy density and low self-discharge are the main reasons for the increasing use of lithium-ion batteries. Its application base is expanding and is expected to include electric vehicles, medical devices, power tools, and energy storage systems. Rising demand for electric vehicles and energy storage systems is expected to impede the growth of the electric double-layer capacitor market.

Furthermore, lithium-ion battery manufacturers are encouraged to invest in China and South Korea because raw materials and labor costs are relatively low in these countries. China's market share has expanded significantly in recent years and is expected to surpass that of South Korea in the future. Therefore, the increasing adoption of lithium-ion batteries is likely to pose major challenges that may impede the growth of the global EDLC market during the forecast period.

Market Customer Landscape

The market forecasting report includes the adoption lifecycle of the market research and growth, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market  growth and trends strategies.

Global Market Customer Landscape

Segment Overview

The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD billion" for the period 2024-2028, as well as historical data from 2018 - 2022 for the following segments.

• Product Outlook
  • Flat style EDLC
  • Button style EDLC
  • Radial style EDLC
• Application Outlook 
  • Automotive
  • Energy sector
  • Consumer electronics
  • Industrials
• Region Outlook 
  • North America
    • The U.S.
    • Canada
  • Europe
    • The U.K.
    • Germany
    • France
    • Rest of Europe
  • APAC
    • China
    • India
  • Middle East & Africa
    • Saudi Arabia
    • South Africa
    • Rest of the Middle East & Africa
  • South America
    • Chile 
    • Brazil 
    • Argentina

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Market Analyst Overview

The market is propelled by innovations like ultramicro supercapacitors and their role as a key electrical component facilitating quick charge solutions across various sectors including distribution, telecommunications, and industrial automation. Recognized for their energy efficiency, EDLCs address evolving requirements driven by stricter emission laws and advancements in material science supporting energy harvesting from sources like solar energy. As integral components of the electrical grid, EDLCs enable efficient energy storage and deployment, supported by past analysis, Present analysis, and future analysis informed by social and political factors. Companies leverage EDLCs as cutting-edge solutions, aligning product strategy  and business strategy with insights from sources like SEC filings and internal/external databases, ensuring their position as innovators in the market.

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What are the Key Data Covered in thisMarket Report?

• CAGR of the market report forecast during the forecast period
• Detailed information on factors that will drive the growth of the market  between 2024 and 2028
• Precise estimation of the size of the market  and its contribution in focus to the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the market across North America, APAC, Europe, South America, and Middle East and Africa
• Thorough market analysis and report of the market’s competitive landscape and detailed information about companies
• Comprehensive analysis of factors that will challenge the growth of Industry companies

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