NEW
YORK, July 17, 2024 /PRNewswire/ -- The global
automotive ultracapacitor market size is estimated to grow by
USD 239.4 million from 2024-2028,
according to Technavio. The market is estimated to grow at a CAGR
of 18.53% during the forecast
period. Growing EV automotive industry is
driving market growth, with a trend towards increasing
focus on advanced ultracapacitors. However, high-cost burden
poses a challenge. Key market players include 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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Forecast
period
|
2024-2028
|
Base Year
|
2023
|
Historic
Data
|
2017 - 2021
|
Segment
Covered
|
Type (Double-layered
capacitors, Pseudo capacitors, and Hybrid capacitors), Application
(Brake regeneration, Start-stop operation, and Active suspension),
and Geography (APAC, Europe, North America, South America, and
Middle East and Africa)
|
Region
Covered
|
APAC, Europe, North
America, South America, and Middle East and Africa
|
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.
|
Key Market Trends Fueling Growth
The automotive ultracapacitor market is witnessing significant
advancements with the focus on manufacturing cost-effective and
scalable ultracapacitors. Companies are investing in research and
development of carbon nanotube and graphene-based ultracapacitors,
which can store a substantial amount of energy and release it
quickly. These advanced ultracapacitors offer advantages such as
small form factor, lightweight properties, elasticity, mechanical
strength, and eco-friendliness. The latest technology has also led
to the development of fiber-based ultracapacitors, which can be
used in wearable electronics and electric vehicles. These
capacitors, with a large surface area and high conductivity, have
the potential to store a significant amount of energy and charge
and release energy faster than batteries. The integration of these
ultracapacitors in the automotive industry is expected to boost
their demand and market growth during the forecast
period.
The Automotive Ultracapacitor market is witnessing significant
growth due to the increasing trend towards electric energy in the
automotive industry. Ultracapacitors, as an energy storage
solution, offer several advantages over batteries for electric and
hybrid vehicles. They provide peak power assistance during
regenerative braking and offer faster charging times. With the
rising demand for fuel-efficient vehicles and the increasing
electric vehicles market, the use of ultracapacitors in passenger
cars, commercial cars, SUVs, hatchbacks, sedans, MPVs, light
commercial vehicles, and large commercial vehicles is on the rise.
OEMs are integrating ultracapacitors in regenerative braking
systems to improve vehicle performance and reduce greenhouse gas
emissions. Ultracapacitors can also store thermal energy and
electrical energy, making them an attractive alternative to brake
pads and wheels. As gasoline prices continue to rise and concerns
over fossil fuels grow, the electrification of vehicles through
electric and hybrid systems is becoming increasingly popular.
Ultracapacitors play a crucial role in these systems by providing
quick energy for peak power demands and extending the overall
efficiency of the vehicle.
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Market Challenges
- The ultracapacitor market in the automotive industry faces
significant challenges, primarily due to the high initial cost of
ultracapacitors. The cost of integrating ultracapacitors in
electric cars ranges from USD2,000 to
USD10,000 per kWh, which is almost
ten times more expensive than batteries for electric cars, priced
between USD200 and USD1,000 per kWh. This substantial price
difference acts as a major hindrance to the widespread adoption and
commercialization of ultracapacitors. Additionally, the market has
a limited supplier base, and ultracapacitors have not been
extensively tested in various applications, leading to customer
hesitance and reluctance to invest. These factors are anticipated
to negatively impact the growth of the automotive ultracapacitor
market during the forecast period. However, substantial investments
in research and development are expected to bring down the cost of
ultracapacitors in the near future.
- The Automotive Ultracapacitor Market is gaining traction
due to the increasing electrification of vehicles. Ultracapacitors,
a type of energy storage device, offer advantages over traditional
batteries in automotive applications. They can provide high power
output for short durations, making them ideal for regenerative
braking and peak power assistance in ICE vehicles and hybrids.
However, challenges exist, such as electrostatic charge separation
and the need for lightweight, high-performance supercapacitors to
meet the demands of electric and hybrid passenger cars and
commercial vehicles. OEMs are exploring ultracapacitors as energy
storage solutions for various applications, including EV fast
charging, mild hybrid systems, and autonomous driving technologies.
The market for ultracapacitors in the automotive sector is expected
to grow significantly as emission regulations push for more
sustainable, fuel-efficient propulsion types, and green
technologies gain popularity. Applications include EVs, electric
parking brakes, power steering, turbochargers, suspension systems,
and renewable energy applications. Hybrid capacitors and EDLC
radial supercapacitors are key players in this market.
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challenges - Download a Sample Report
Segment Overview
This automotive ultracapacitor market report extensively covers
market segmentation by
- Type
- 1.1 Double-layered capacitors
- 1.2 Pseudo capacitors
- 1.3 Hybrid capacitors
- Application
- 2.1 Brake regeneration
- 2.2 Start-stop operation
- 2.3 Active suspension
- Geography
- 3.1 APAC
- 3.2 Europe
- 3.3 North America
- 3.4 South America
- 3.5 Middle East and
Africa
1.1 Double-layered capacitors- The automotive
ultracapacitor market experienced significant growth in 2023, with
the double-layered capacitors or electric double-layered capacitors
(EDLCs) segment leading the way. EDLCs offer the energy storage
capabilities of batteries and the power discharge characteristics
of capacitors, making them ideal for compact and energy-efficient
storage devices. The surge in demand for such devices, particularly
in the electric vehicle (EV) and transportation sectors, drove the
growth of this segment. According to the International Energy
Agency (IEA), global sales of electric cars reached an all-time
high in 2023, accounting for 18% of electric car sales, up from 4%
in 2020. This trend is expected to continue, fueling the demand for
EDLCs in the automotive industry. Additionally, the increasing
popularity of electric buses and hybrid buses, along with the
adoption of regenerative braking systems and start-stop systems,
will further boost the demand for EDLCs. These developments are
poised to propel the growth of the automotive ultracapacitor market
during the forecast period.
For more information on market segmentation with geographical
analysis including forecast (2024-2028) and historic data (2017 -
2021) - Download a Sample Report
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reports
The global Automotive Adaptive Front Lighting System market is
witnessing robust growth, driven by rising demand for enhanced
safety and visibility in vehicles. Key players focus on advanced
technologies to improve driver assistance systems.
Similarly, the global Automotive Active Safety System market is
expanding rapidly due to increased awareness about vehicle safety
and stringent regulations. Innovations in collision avoidance and
driver assistance systems are key growth drivers.
The global Automotive Digital Key market is also booming, with
growing adoption of smart technologies and convenience features.
Leading automakers are integrating digital key solutions to enhance
user experience and security.
Research Analysis
The Automotive Ultracapacitor market refers to the use of
ultracapacitors as energy storage devices in the automotive
industry. Ultracapacitors, also known as supercapacitors, differ
from batteries as they store energy through electrostatic charge
separation instead of chemical reactions. They offer several
advantages in automotive applications, including regenerative
braking, peak power assistance, and improved vehicle performance.
Ultracapacitors are increasingly being adopted in the
electrification of Internal Combustion Engine (ICE) vehicles and
the growing Electric Vehicle (EV) and Hybrid Cars market. They
provide lightweight, high-performance energy storage solutions for
automotive electronics, autonomous driving technologies, and
sustainability initiatives. Ultracapacitors offer fuel efficiency,
reduce greenhouse gas emissions, and complement the role of
batteries in electric energy storage. EDLC radial supercapacitors
are a popular choice due to their high power density and fast
charging capabilities. The automotive ultracapacitor market is
expected to grow significantly as the demand for fuel-efficient
vehicles and sustainable transportation solutions continues to
rise.
Market Research Overview
The automotive ultracapacitor market refers to the use of
ultracapacitors as energy storage devices in the automotive
industry. Ultracapacitors, also known as supercapacitors, utilize
electrostatic charge separation to store energy, making them ideal
for providing high power output in automotive applications. They
offer several advantages over traditional batteries, such as faster
charging times, longer life cycle, and higher power density.
Automotive ultracapacitors find applications in various systems of
both ICE vehicles and electrified vehicles, including regenerative
braking systems, peak power assistance, electric parking brakes,
power steering, turbochargers, suspension systems, and autonomous
driving technologies. The electrification of vehicles, driven by
factors such as emission regulations, electrification initiatives,
and sustainability concerns, is expected to boost the demand for
ultracapacitors in the automotive industry. Ultracapacitors can be
used in conjunction with batteries, such as lithium-ion batteries,
to form hybrid energy storage systems, providing high power output
during peak demand while batteries provide long-term energy
storage. Ultracapacitors are also used in renewable energy
applications, such as EV fast charging stations, and can be found
in various types of vehicles, including passenger cars, commercial
vehicles, SUVs, hatchbacks, sedans, MPVs, light commercial
vehicles, and large commercial vehicles. The use of ultrcapacitors
in automotive applications offers several benefits, including
improved vehicle performance, increased fuel efficiency, reduced
greenhouse gas emissions, and lower reliance on fossil fuels. The
automotive ultracapacitor market is expected to grow significantly
in the coming years, driven by the increasing electrification of
vehicles and the need for lightweight, high-performance energy
storage solutions.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
- Type
-
- Double-layered Capacitors
- Pseudo Capacitors
- Hybrid Capacitors
- Application
-
- Brake Regeneration
- Start-stop Operation
- Active Suspension
- Geography
-
- APAC
- Europe
- North America
- South America
- Middle East And Africa
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory
company. Their research and analysis focuses on emerging market
trends and provides actionable insights to help businesses identify
market opportunities and develop effective strategies to optimize
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Fortune 500 companies. This growing client base relies on
Technavio's comprehensive coverage, extensive research, and
actionable market insights to identify opportunities in existing
and potential markets and assess their competitive positions within
changing market scenarios.
Contacts
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UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
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