The supercapacitor market is projected to witness a compound annual growth rate of 17.24% to reach US$1,294.905 million by 2024, from US$498.628 million in 2018. High power pulse, broadened battery life, and lower battery cost for consumers is the significant driving elements impelling the development of the supercapacitor market. Another factor adding to the development of this market is the integration of renewable power with the supercapacitor.