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The automotive ultracapacitor market size is forecast to increase by USD 239.4 million, at a CAGR of 18.53% between 2023 and 2028. The market is witnessing significant growth due to the expanding electric vehicle (EV) industry. Ultracapacitors, also known as supercapacitors, offer advantages such as high power density, long life cycles, and fast charging capabilities, making them an ideal advanced energy storage system for EVs. Moreover, the increasing focus on advanced ultracapacitors with improved energy density and efficiency is driving market growth. However, the high-cost burden associated with ultracapacitors compared to batteries remains a major challenge. Despite this, the market is expected to grow steadily due to the rising demand for cleaner and more efficient transportation solutions. The adoption of ultracapacitors in hybrid electric vehicles and buses is also contributing to market growth. Overall, the market is poised for significant growth in the coming years, driven by the rise of electric vehicles, advanced technology, and the need for cleaner transportation solutions.
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The market is experiencing significant growth due to the increasing demand for energy storage solutions in the automotive industry. Ultracapacitors, also known as supercapacitors, are advanced energy storage devices that utilize electrostatic charge separation to store energy. They offer several advantages over traditional batteries, including faster charging times, longer lifespan, and higher power density. Automotive applications for ultracapacitors include automotive regenerative braking systems, peak power assistance, and start-stop systems in internal combustion engine vehicles (ICEVs) and electrified vehicles (EVs). Ultracapacitors are particularly useful in hybrid cars, where they help improve vehicle performance and sustainability by storing energy generated during regenerative braking and releasing it during acceleration.
Moreover, the trend towards electrification and the integration of autonomous driving technologies in the automobile market is further boosting the demand for ultracapacitors. EDLC radial supercapacitors, a type of ultracapacitor, are gaining popularity due to their lightweight and high performance characteristics. Ultracapacitors also contribute to fuel efficiency and reduce greenhouse gas emissions, making them an essential component in the electric vehicles market. In summary, the market is poised for growth due to its role in enhancing vehicle performance, sustainability, and fuel efficiency.
The automotive ultracapacitor market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD Million" for the period 2024-2028, as well as historical data from 2018 - 2022 for the following segments.
The double-layered capacitors segment is estimated to witness significant growth during the forecast period. The market experienced significant growth in 2023, with the double-layered capacitors or electric double-layered capacitors (EDLCs) segment leading in market size. EDLCs, which offer the energy storage capabilities of batteries and the power discharge characteristics of capacitors, are increasingly preferred for their compactness and energy efficiency in end-use sectors such as electric vehicles (EVs) and transportation. The International Energy Agency (IEA) reported that global electric car sales reached an all-time high in 2023, with EVs accounting for 18% of total electric car sales, up from 4% in 2020. This trend is driven by the electrification of vehicles, including mild hybrid vehicles and electric passenger cars, as well as the adoption of green technologies such as EV fast charging and mild hybrid systems.
OEMs are integrating ultracapacitors into various automotive applications, including regenerative braking, peak power assistance, electric parking brakes, power steering, turbocharger, suspension system, and electrification of autonomous driving technologies. EDLC radial supercapacitors, which are lightweight and high-performance, are gaining popularity due to their ability to deliver high power and sustainability. Ultracapacitors also offer improved fuel efficiency and are suitable for renewable energy applications and hybrid capacitors in the active suspension segment.
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The double-layered capacitors segment was valued at USD 65.50 million in 2018 and showed a gradual increase during the forecast period.
APAC is estimated to contribute 42% to the growth of the global automotive ultracapacitor market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
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The automotive ultracapacitor market is experiencing significant growth due to increasing emission regulations and electrification initiatives worldwide. Ultracapacitors, also known as supercapacitors, are gaining popularity in the automobile market as they provide electric energy to supplement batteries in hybrid cars and improve vehicle performance. With the rise of electric vehicles (EVs) and fuel-efficient vehicles, ultracapacitors offer a solution to reduce greenhouse gas emissions and decrease reliance on fossil fuels. These energy storage devices are particularly useful in regenerative braking systems, where they help recover thermal energy during deceleration and convert it into electrical energy. Ultracapacitors are being integrated into various vehicle types, including passenger cars, commercial cars, SUVs, hatchbacks, sedans, multi-purpose vehicles, light commercial vehicles, and large commercial vehicles.
As gasoline prices continue to fluctuate, ultracapacitors offer a cost-effective alternative to traditional battery systems and brake pads. By storing electrical energy and releasing it when needed, ultracapacitors can enhance vehicle efficiency and reduce overall emissions.
Our automotive ultracapacitor market researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The electric vehicle (EV) automotive industry is experiencing significant growth, with innovative companies continually developing and improving technologies to enhance the efficiency and appeal of EVs. The automotive industry's shift towards electrification, including the production of electric vehicles (EVs) and hybrid vehicles, is driving the demand for energy storage solutions, particularly ultracapacitors. Ultracapacitors, also known as electrostatic energy storage devices, utilize the principle of electrostatic charge separation to store energy. They offer several advantages over traditional lithium-ion batteries, including faster charging times, longer life cycle, and higher power density. Automotive ultracapacitors find extensive applications in various systems of both internal combustion engine (ICE) and electrified vehicles. In ICE vehicles, they are used for regenerative braking, peak power assistance for start-stop systems, electric parking brakes, power steering, turbochargers, and suspension systems.
In electric and hybrid vehicles, they are used for energy recovery during braking, peak power assistance during acceleration, and as energy storage solutions for mild hybrid systems. The growing popularity of green technologies and sustainability in the automotive industry, coupled with the increasing focus on fuel efficiency and high performance, is further fueling the demand for ultracapacitors. The electrification trend is not limited to passenger cars but is also gaining momentum in commercial vehicles. The use of ultracapacitors in autonomous driving technologies, such as active suspension systems, is another emerging application area. EDLC radial supercapacitors and high performance supercapacitors are the most commonly used types of ultracapacitors in the automotive industry.
They offer lightweight, high power, and excellent energy storage capabilities, making them ideal for automotive applications. The increasing adoption of renewable energy applications in the automotive sector is also expected to create new opportunities for ultracapacitors in the future. Overall, the market is expected to grow significantly during the forecast period, driven by the increasing demand for energy storage solutions in the electrification of vehicles.
The growing emphasis on the development and implementation of advanced ultracapacitors in various industries due to their ability to charge quickly and deliver high power output efficiently is a major automotive ultracapacitor market trend. Ultracapacitors, also known as supercapacitors, are a type of energy storage device that offer several advantages over traditional batteries, including faster charging times and longer lifespan. These capacitors are gaining popularity in sectors such as transportation, renewable energy, and telecommunications, where high power and quick energy delivery are essential. The integration of ultracapacitors in these applications can lead to improved system performance, increased reliability, and reduced overall energy consumption. Ultracapacitors, as energy storage devices, have gained significant attention in the automotive industry due to their ability to provide high power output in short durations. These devices utilize the principle of electrostatic charge separation to store energy. In automotive applications, ultracapacitors find use in regenerative braking systems, peak power assistance for internal combustion engine (ICE) vehicles, and mild hybrid systems. With the electrification of vehicles, including electric passenger cars (EPCs), hybrid electric vehicles (HEVs), and commercial vehicles (CVs), the demand for energy storage solutions has surged. Advanced ultracapacitors, such as EDLC radial supercapacitors, offer high performance and lightweight properties, making them suitable for various propulsion types.
These ultracapacitors are also used in automotive electronics, including electric parking brake, power steering, turbocharger, and suspensionsystems. The integration of ultracapacitors in electrification, autonomous driving technologies, and renewable energy applications further enhances their importance. Companies are exploring the use of carbon nanotubes and graphene in ultracapacitor manufacturing to improve energy density and scalability. These green technologies contribute to sustainability, fuel efficiency, and the development of high power supercapacitors for EVs and hybrid capacitors for the active suspension segment.
The significant financial obligation associated with certain situations hampers automotive ultracapacitor market growth. Ultracapacitors, an energy storage device that utilizes electrostatic charge separation, have gained significant attention in the automotive industry due to their potential in various applications. In automotive systems, ultracapacitors offer benefits such as regenerative braking, peak power assistance, and energy recovery in mild hybrid systems. However, their high initial cost is a major barrier to their widespread adoption in the electrification of vehicles, including electric passenger cars and commercial vehicles. The cost of integrating ultracapacitors in an automobile ranges from USD 2,000 to USD 10,000 per kWh, which is almost ten times more expensive than lithium-ion batteries. The high cost is a significant challenge for original equipment manufacturers (OEMs) seeking energy storage solutions for electric and hybrid vehicles.
Despite the high cost, the decline in manufacturing costs is anticipated due to substantial investments in research and development. However, the limited number of ultracapacitor suppliers and lack of extensive testing in various applications hinder their market penetration. Ultracapacitors have potential applications in propulsion types such as electric vehicles, internal combustion engines, and autonomous driving technologies. Additionally, ultracapacitors offer advantages in lightweight, high-performance supercapacitor technology, making them suitable for automotive electronics, renewable energy applications, and hybrid capacitors in the active suspension segment. The sustainability, fuel efficiency, and high power supercapacitors make them a viable alternative for EV fast charging and powering various automotive systems, including electric parking brakes, power steering, turbochargers, and suspension systems.
The automotive ultracapacitor market forecasting report includes the adoption lifecycle of the market, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the automotive ultracapacitor market growth analysis report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
CAP XX Ltd. - The company provides a range of automotive ultracapacitors, including CAP-XX supercapacitors, for integration into the automotive industry.
The automotive ultracapacitor market research and growth report includes detailed analyses of the competitive landscape of the market and information about key companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market for ultracapacitors in the automotive industry is experiencing notable expansion due to the escalating need for energy storage systems in various automotive applications. Ultracapacitors, or electrostatic energy storage devices, present several advantages over conventional batteries. They offer greater power density, extended cycle life, and quicker charging times. These energy storage solutions are progressively being integrated into automotive applications such as regenerative braking systems, peak power assistance, and mild hybrid vehicles. The electrification of vehicles, including electric cars and hybrid vehicles, is a significant factor fueling automotive ultracapacitor market growth. In electric passenger cars and commercial vehicles, ultracapacitors serve as energy storage solutions for hybrid systems, delivering power for electric parking brakes, power steering, turbochargers, and suspension systems.
Moreover, ultracapacitors offer advantages in internal combustion engine vehicles, powering start-stop systems and energy recovery during deceleration. High-performance supercapacitors, such as EDLC radial supercapacitors, are gaining traction in the automotive sector due to their lightweight and high power capabilities. These supercapacitors are suitable for use in automotive electronics, autonomous driving technologies, and renewable energy applications. The automotive ultracapacitor market is projected to witness substantial growth in the coming years, fueled by the trend towards sustainability, fuel efficiency, and the increasing adoption of electrification technologies.
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Market Scope |
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Report Coverage |
Details |
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Page number |
170 |
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Base year |
2023 |
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Historic period |
2018-2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 18.53% |
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Market Growth 2024-2028 |
USD 239.4 million |
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Market structure |
Fragmented |
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YoY growth 2023-2024(%) |
15.17 |
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Regional analysis |
APAC, Europe, North America, South America, and Middle East and Africa |
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Performing market contribution |
APAC at 42% |
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Key countries |
China, US, Germany, Japan, and India |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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Key companies profiled |
CAP XX Ltd., Cornell Dubilier Electronics Inc., Eaton Corp. Plc, GODI India Pvt. Ltd., Kyocera Corp., LICAP Technologies Inc., LS MTRON Ltd., Nippon Chemi Con Corp., Panasonic Holdings Corp., Shanghai Aowei Technology Development Co. Ltd., Skeleton Technologies GmbH, SPEL TECHNOLOGIES PVT. LTD., Systematic Power Manufacturing LLC, TAIYO YUDEN Co. Ltd., TDK Corp., UCAP Power Inc., VINATech Co. Ltd., Yageo Corp., Yunasko Ltd., and Zoxcell Ltd. |
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Market dynamics |
Parent market analysis, market growth inducers and obstacles, market forecast, fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, market condition analysis for the forecast period |
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Customization purview |
If our automotive ultracapacitor market forecast report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this automotive ultracapacitor market research report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Market Segmentation by Application
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
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