Global Ultracapacitors Market to Grow at a CAGR of 26% in the Forecast Period of 2024-2032, Aided by the Growth in Electronics and Automotive Industry

The global ultracapacitors industry is driven by the rapid demand for electronics products such as laptops and smartphones, and automotive applications. The use of micro ultracapacitor increases the opportunity for the ultracapacitor market. The use of ultracapacitors in solar and wind energy applications increases the opportunity for ultracapacitor market growth. The ultracapacitor is a critical part of the irrigation system. The demand for irrigation systems is fueling the use of capacitors. Innovation in the storage technology extended life period of ultracapacitors compared to conventional capacitors is anticipated to boost the growth of the global ultracapacitors industry. The market is also witnessing the need for ultracapacitors used for energy re-filling in buses, trams, and trains, owing to a vigorous demand for energy-efficient products. During the forecast period, regenerative braking systems are expected to drive the adoption of ultracapacitors in automobiles. Ultracapacitors are expected to play a significant role in future vehicles, absorbing kinetic energy and later using it for propulsion. The demand is thus expected to grow further as more prominent automobile manufacturers adopt this technology.

To accelerate the research and development programmes, ultracapacitors companies are increasingly collaborating with research institutes, universities, technology companies, and other market players. For example, Versarien (OTCMKTS: VRSRF) signed a Memorandum of Understanding with Warwick Manufacturing Group in April 2016 to produce power storage devices such as supercapacitors using Versarien's graphene nanoplatelets.

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Market Analysis by Power Type, Application, and Regions:

• Based on power type, the market is categorised into less than 10 volts, 10 volts to 25 volts modules, 25 volts to 50 volts modules, 50 volts to 100 volts modules, and above 100 volts modules.

• The applications of the ultracapacitors market can be segmented into automotive, industrial, energy, and electronics.

• The regional markets for ultracapacitors include North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

• Widespread adoption of product usage will boost the growth of the ultracapacitor market.

• Advancement in technology is expected to further increase the demand for ultracapacitors.

• The rising demand for supercapacitor import-export will propel the industry's growth.

• The development of ultracapacitors for robotics modules will boost market growth in the coming years.

Key Offerings of the report:

• The EMR report gives an overview of the global ultracapacitors market for the periods (2018-2023) and (2024-2032).

• The report also offers the historical (2018-2023) and forecasted (2024-2032) markets for power type, application, and major regions of ultracapacitors.

• The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global ultracapacitors industry are Maxwell Technologies Inc., Supreme Power Solutions Co. Ltd., SECH SA, Skeleton Technologies, and LICAP Technologies, Inc., among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

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