Ultracapacitor Market, by Type (Electric Double-layered Capacitors, Pseudo Capacitors, Hybrid Capacitors), Application (Automotive, Energy, Consumer Electronics, Industrial, Others), and Region (North America, Europe, Asia-Pacific, and the Rest of the World).
Ultracapacitor Market, by Type (Electric Double-layered Capacitors, Pseudo Capacitors, Hybrid Capacitors), Application (Automotive, Energy, Consumer Electronics, Industrial, Others), and Region (North America, Europe, Asia-Pacific, and ...
"The global ultracapacitor market is estimated to grow from USD 2.3 billion in 2020 to USD 8.5 billion by 2026 at a healthy CAGR of 24.9% during the forecast period."
An ultracapacitor is an electrical component that can hold a hundred times more charge quantity in comparison to a normal capacitor. They are also referred to as supercapacitors or electric double-layer capacitors (EDLC). These capacitors are suitable electrochemical energy storage devices that bridge the gap between conventional batteries and capacitors tolerating the applications for various energy requirements.
Strong engineering innovations to advance the ultracapacitor technology are a key factor instigating the convergence of ultracapacitors and batteries. This is further anticipated to strengthen the combination of pulse power design and specific energy storage in future applications areas such as public transportation, residential power, medicine, and construction equipment. These products are being developed as an alternative to pulse batteries. In addition, surging demand for long battery lifetime and effective wear and tear properties owing to chemical reactions is likely to further augment the market growth.
The COVID-19 outbreak has moderately affected the ultracapacitor industry. Rising coronavirus cases across the globe resulted in stringent social distance and lockdown norms across the globe, which led to supply chain disruption, thus affecting the product demand.
Key Players
Key players operating in the ultracapacitor market are:
"The automotive segmentaccounted for the largest market share."
Based on application, the ultracapacitor market is classified into automotive, energy, consumer electronics, industrial, and others. The automotive segment held a significant market share in 2020 and is estimated to register a healthy CAGR during the forecast timeline. This is mainly attributed to the rising adoption of electric and hybrid electric vehicles. Moreover, supercapacitors benefit several applications which require low-power support for critical memory systems. These devices offer solutions in several high-power applications such as Uninterruptible Power Supplies (UPS), consumer electronics, industrial lasers, and electric & hybrid vehicles, which boosts segment growth.
Regional Trends
"The Asia-Pacific market accounted for the largest market share."
By region, the Asia Pacific market accounted for the largest share in 2020 and is expected to grow at a substantial CAGR in the following years. This is mainly ascribed to the need for ultracapacitors used for energy re-filling in trams, buses, and trains. In addition, rapid urbanization & industrialization in the region as well as growing product demand across the power, residential, and public transportation sectors, further proliferate regional market growth.
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Global, regional and country level historical data and forecasts
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This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact book, press release, journals, investor presentation, white papers, patents, and articles have been leveraged to gather the data. We conducted more than 10 detailed primary interviews with market players across the value chain in all four regions and with industry experts to obtain both qualitative and quantitative insights.
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An ultracapacitor is an electrical component that can hold a hundred times more charge quantity in comparison to a normal capacitor. They are also referred to as supercapacitors or electric double-layer capacitors (EDLC). These capacitors are suitable electrochemical energy storage devices that bridge the gap between conventional batteries and capacitors tolerating the applications for various energy requirements.
Panasonic Corporation (Japan), Supreme Power Solutions Co. Ltd. (Germany), VINA Tech Co. Ltd. (South Korea), Maxwell Technologies, Inc. (US), Nippon Chemi-Com Corporation (Japan), LS Mtron (South Korea), Nesscap Co Ltd. (Canada), Ioxus Inc. (US), Cap-XX (Australia), and NEC-Tokin (Japan) are among the key players in the ultracapacitors market.
