Despite a high degree of fragmentation in the global supercapacitor market, a handful of key players namely Maxwell, Panasonic, Nesscap, Nippon, Ioxus, and LS Mtron display dominance with some of them enjoying more than 10% share of the market. With increasing number of players, prominent participants such as Maxwell are losing their share in the supercapacitor market. As a result, competitive rivalry is expected to remain high as new players enter this market to serve the rising demand for supercapacitors.

First and foremost longer life of supercapacitors as compared to batteries and their declining prices are driving the sales of supercapacitors. On an average, lifespan of supercapacitors is from 8 to 15 years, which is much higher than lifespan of conventional battery used for automobiles and other convention devices. In addition, replacement cost of conventional battery used in automobiles is also very high, which is a reason for the high resale price of used vehicles and inhibition among consumers to own electric cars. 

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Supercapacitors serve as better substitutes for batteries due to their long-life and they do not need to be replaced within short time intervals. Furthermore, declining price of supercapacitor which has dropped to one-tenth in the last one decade is also boosting their uptake.

Go green drive in several regions of the world promoting eco-friendly means of storing electrical energy has been trending in recent years. Rising cost of fossil fuels, depletion of natural resources and excessive carbon emissions are necessitating the adoption of electrical energy for numerous applications. This is boosting the demand for supercapacitors.