- Wide utilization in alternative energy source in numerous devices in consumer electronics and energy & utilities propelling abundant opportunities in ultracapacitors market
- Rise in utilization in key automotive applications to unlock massive revenue streams during forecast period; companies leveraging synergistic partnerships to capture steady revenues from North America market
ALBANY, N.Y., May 18, 2022 /PRNewswire/ -- Transparency Market Research: The ultracapacitor technologies have been massively commercialized as an effective alternative resource in myriad applications, increasingly in public transportation, power stabilization applications, and hybrid supercapacitor batteries. The salient features of ultracapacitors arising out of fast charging and discharging cycles have made an attractive technology in automotive and energy and utilities industries. The global ultracapacitors market valuation is projected to surpass US$ 11.22 Bn by the end of 2031.
Due to higher power density than batteries, innovators and pioneers in the ultracapacitors market are showing considerable interest toward developing the technology for unlocking innovative applications of the products. A growing body of research has focused on ultracapacitors that can replace batteries in future electric vehicles, since they are proving to be effective as go-to power source for electric cars. The authors of the TMR study have taken a closer look at trends enriching aerospace ultra-capacitors market share.
Prominent electric vehicle manufacturers, the TMR study observed, are keenly tapping into this game-changing potential of ultracapacitors. A granular assessment on ultracapacitor market overview found that new applications for ultracapacitors will likely emerge from harnessing the remarkable power density of these in miniaturized electronic devices such as in wearables. Rising use in diverse range of automotive and aerospace applications is constantly expanding the revenue potential of the ultracapacitors market. A case in point is the use of ultracapacitors in regenerative braking systems.
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Key Findings of Ultracapacitors Market Study
- Utilization in Diverse Range of Energy Storage Applications Underpins Ample Opportunities: The use of ultracapacitors to complement a primary energy source in scores of applications is spurring the revenue growth. The ultracapacitors market prospects have been enriched by rise in use of compact consumer electronic devices worldwide. Of note, rise in demand for miniaturized devices is catalyzing revenue generation in multiple end-use industries such as in energy and utilities. End-use industries are keen on reaping the advantages offered by ultracapacitors over batteries. Stakeholders in the are expected to benefit from growing number of strategic partnerships between the players. The trend has been evident in the North America ultracapacitors market. Continuing research on capacitors is expected to spur the use in emerging applications in construction equipment, public transportation, energy grids, and residential power.
- Automotive Industry to Generate Stable Lucrative Revenues: Growing adoption of ultracapacitors in hybrid and other vehicles in range of key automotive applications, notably in regenerative braking, has fueled the sales of products in the ultracapacitors market. The incorporation of ultracapacitors for trucks and buses is expected to rise, where the technology is likely to gather popularity for providing energy during peak power demands. A growing number of premium vehicles in recent years have found supercapacitor-powered e-motors suitable for their hybrid vehicles.
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Ultracapacitors Market: Key Drivers
- Growing R&D of capacitor technology has focused on developing economic and clean alternatives for batteries. Ultracapacitors are gaining currency as an economical choice over the latter in a number of applications that require short bursts of energy and high current. This has been broadening the canvas for exploring new applications, thus driving the ultracapacitors market.
- Rise in demand for energy storage solutions for automotive sector has propelled the prospects of the ultracapacitors market
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Ultracapacitors Market: Key Players
Some of the key players in the ultracapacitors market are Maxwell Technologies, Panasonic, LS Mtron, and CAP-XX Limited.
Ultracapacitors Market - Segmentation
Type
- Electric Double-layered Capacitors
- Pseudo Capacitors
- Hybrid Capacitors
Power Type
- Less than 10 Volts Modules
- 10 Volts to 25 Volts Modules
- 25 Volts to 50 Volts Modules
- 50 Volts to 100 Volts Modules
- Above 100 Volts Modules
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End-use Industry
- Automotive
- Industrial
- Consumer Electronics
- Energy & Utilities
- Others
Region
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- South America
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