Key Market Insights

"Large Benefit of Ultracapacitor over Batteries will spur the Market Growth during the Forecast Period"

The global ultracapacitor market was valued at US$ 2.24 Bn in the year 2021 and is expected to reach US$ 11.73 Bn by the year 2030, expanding at a CAGR of 16% during the forecast from 2023 to 2030.

Ultracapacitor is an electrostatic energy storage device that stores energy by polarizing the electrolytic solution. The device is gaining momentum in present and coming years due to rise in energy consumption regulations, and increasing preference for renewable energy over fossil fuels. Its benefits over traditional batteries such as high efficiency, small charging & discharging time, and capability to work in extreme temperatures make them more preferable for wind turbine, hybrid electric vehicles, and other diverse applications. As per Maxwell Technologies Inc., the company deployed more than 65 Mn ultracapacitor cells for various stationary and mobile applications globally.

Application Analysis

"Consumer Electronics led the Global Ultracapacitor Market in the year 2018"

In 2021, consumer electronics segment dominated the global ultracapacitor market with nearly 50% revenue share. The robust growth of the segment majorly attributed to proliferation of smartphones in Asian countries such as China, India, and Brazil. In addition, shifting consumer trends towards smart devices including smart watch, smart glasses, e-papers, and other smart electronics has uplifted the market growth to an impressive level.

Automotive & transportation segment seeks significant growth during the forecast period owing to increasing preference for Hybrid Electric Vehicle (HEV). Chasing problems of air pollution and other environmental concerns have proliferated the adoption of HEV. They also keep company with fuel consumption laws and regulations. In the wake of further advancement in HEV, ultracapacitor is used against batteries to improve their fuel economy by 15-30%. Furthermore, low cost of ultracapacitor is another prime factor for its profound market growth in the automotive sector.

Regional Analysis

"Asia Pacific garnered the largest revenue share of the Global Ultracapacitor Market in 2021"

The Asia Pacific accounted for majority of the revenue share in the global ultracapacitor market for 2021. In addition, the region expected to grow considerably during the forecast period. The Asia Pacific was the most dynamic region in the consumer electronics segment over 2015-2020 and the same trend continued during the forecast period from 2023-2030. This is mainly due to the overwhelming growth in percent household and annual disposable income in the region.

In addition, Asia Pacific anticipated to lead the automotive ultracapacitor market during the forecast period from 2023-2030. This is mainly due to high production rate of passenger vehicles in countries such as Japan, China, and South Korea. However, North America and Europe accounted for significant share in the global ultracapacitor market owing to pioneer developers of innovative automotive products.

Key Players & Competitive Landscape:

"Rising Investment in Ultracapacitor has boost the Competition in the Global Ultracapacitor Market"

Increasing research & development in ultracapacitor along with its increasing demand as an environment-friendly energy storage solution has spurred the competition among players significantly. In the wake of same, market players invest significantly for product development to retain their market position.

List of Companies Covered:

• Eaton Corporation Inc.
• Ioxus Inc.
• Skeleton Technologies
• Tecate Group
• Cap-XX
• LS Mtron
• Tesla Inc
• Nec-Tokin
• Nippon Chemi-Con Corporation
• Panasonic Corporation
• Supreme Power Solutions Co Ltd
• Vinatech Co Ltd
• Yunasko

Key Industry Development:

• On September 24, 2019, First Graphene Ltd. signed an agreement with the Manchester University for developing graphene-hybrid materials that are used in supercapacitors. These materials have the potential to develop new generation ultracapacitors that are frequently used in wide range of applications ranging from electric vehicles to cranes and elevators.
• On March 05, 2018, Eaton Corporation Inc. announced its new XT supercapacitor of 3.0 volts that offers 20% higher power density and 15% greater energy density. The new supercapacitor costs comparatively lower for per watt-hour compared to other available supercapacitors. It also allows to reduce weight and size for designs that implies high cell count.
• On April 28, 2017, Maxwell Technologies Inc., a subsidiary of Tesla Inc. announced to acquire Nesscap Energy Inc., a Canada-based ultracapacitor manufacturing and developing company. The acquisition will help Maxwell to extend its existing product portfolio and market capabilities in the ultracapacitor business.

Historical & Forecast Period

This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.

The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.

Research Methodology

The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Ultracapacitor market are as follows:

• Research and development budgets of manufacturers and government spending
• Revenues of key companies in the market segment
• Number of end users and consumption volume, price and value.
• Geographical revenues generate by countries considered in the report
• Micro and macro environment factors that are currently influencing the Ultracapacitor market and their expected impact during the forecast period.

Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.

Key questions answered in this report

• What are the key micro and macro environmental factors that are impacting the growth of Ultracapacitor market?
• What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
• Estimated forecast and market projections up to 2032.
• Which segment accounts for the fastest CAGR during the forecast period?
• Which market segment holds a larger market share and why?
• Are low and middle-income economies investing in the Ultracapacitor market?
• Which is the largest regional market for Ultracapacitor market?
• What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
• Which are the key trends driving Ultracapacitor market growth?
• Who are the key competitors and what are their key strategies to enhance their market presence in the Ultracapacitor market worldwide?