Analysts from IDTechEx estimate that the global supercapacitor market is around $1.5 billion in annual sales, following several years of decline. IDTechEx, however, believes the market bottomed out in 2018-2019 and is set now for a sustained period of strong growth.
IDTechEx explains that the market is expected to grow quickly in the coming years, as companies are expected to increase the use of supercapacitors over batteries in electric and hybrid cars as the customers are seeking faster charging and safer transport. Allied Market Research estimates that the Supercapacitor market will grow at a CAGR of 28.7% from 2016 to 2022 and will reach $6.3 billion in 2022, while India-based also sees a fast growth rate of 22% from 2016 to 2022, and estimates a $4 billion market in 2022. Both market research companies did not see the down year in 2016-2019, but it is still interesting to note these market forecasts.