Supercharged Growth: Market Set to Reach $912 Million by 2027
The workhorses of energy storage, are experiencing a surge in demand, with the global market projected to reach USD 912 million by 2027, according to a recent report by MarketsandMarkets. This represents a significant jump from USD 520 million in 2023, reflecting a healthy Compound Annual Growth Rate (CAGR) of 14.1%. Let’s delve deeper into the factors driving this growth and explore the future potential of Supercapacitors . Why the Rise in Supercapacitors? Supercapacitors offer several advantages over traditional batteries, making them a compelling choice for a variety of applications: Faster Charging and Discharging: Unlike batteries, supercapacitors can be charged and discharged incredibly quickly, making them ideal for applications that require rapid bursts of energy, such as regenerative braking in electric vehicles or pulsed power delivery in medical devices. High Power Density: Supercapacitors can deliver a significant amount of power in a short period, making them suitable fo...