PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1064969
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1064969
During the projected period, the ultracapacitor market is expected to rise at a strong CAGR of 24.9%, from USD 1,405.8 million in 2020 to USD 7,221.8 million by the end of 2027.
An ultracapacitor is an electrical component that can store a hundred times the amount of charge that a regular capacitor can. Supercapacitors or electric double-layer capacitors are other names for them (EDLC). These capacitors are appropriate electrochemical energy storage devices that bridge the gap between traditional batteries and capacitors and can be used for a variety of energy applications.
Market Dynamics
Strong engineering innovations to advance ultracapacitor technology are a critical factor driving the convergence of ultracapacitors and batteries. It is also expected that this will strengthen the combination of pulse power design and specific energy storage in future applications such as public transportation, residential power, medicine, and construction equipment. These items are being developed as a replacement for pulse batteries. Furthermore, rising demand for long battery life and effective wear and tear properties as a result of chemical reactions is expected to drive market growth even further.
The COVID-19 outbreak has had a minor impact on the ultracapacitor market. Rising coronavirus cases around the world resulted in stringent social distance and lockdown norms, causing supply chain disruption and affecting product demand.
Segmentation Analysis:
Ultracapacitors market is segmented on the basis of product type, application, end-user, and region.
Further considering the product type ultracapacitors market is divided into Pseudocapacitors, Double-layer capacitors, Hybrid capacitors (Asymmetric Hybrids, Composite Hybrids, Battery- type Hybrids). The pseudocapacitors segment contributed the most in 2020, accounting for nearly two-fifths of the global ultracapacitors market, and is expected to maintain its dominance throughout the forecast period.
On the basis of application Ultracapacitors market is segmented as Camera, Electronic Device, Power System, audio system, Laptop, Solar Watch, Smoke Detector, Power Backup, Energy Storage, Defibrillators, Buses, EV/HEV, Energy Storage, Trains and Locomotives, Aircraft, among others. Further based on the end-user market is segmented into Aerospace & Defense, Industrial, Energy, Medical, Automotive, Consumer Electronics, among others.
Competitive Landscape:
The market for ultracapacitors is moderately competitive, with several major players. There are long-standing established players in the market who have made significant investments. Considering the market share, a few major players currently dominate the market. With a sizable market share, these major players are concentrating their efforts on expanding their customer base in foreign countries. These businesses are leveraging strategic collaborative initiatives to grow their market share and profitability.
For instance, According to CAP-XX Limited, Xtel Wireless, independent development business and leader in IoT product development, chose the ultra-thin CAP-XX DMF470 supercap for its Smart Batteries in November 2021. Xtel reportedly chose the CAP-XX ultracapacitors for their small form factor and low ESR, allowing the battery pack to wirelessly communicate diagnostic data for troubleshooting and battery maintenance.
Key features of the study:
This proposed research study on ultracapacitors market provides market size (US$ million), compound annual growth rate (CAGR %) and forecast estimation (2021-2027), considering 2020 as the base year
The research report elucidates potential growth opportunities across different segments/countries and explains attractive investment proposition matrix for ultracapacitors market
The overall report identifies new investment opportunities, challenges faced by established players, and growth factors to sustain in the ultracapacitors market
Impact of COVID-19 on ultracapacitors market size, forecast, CAGR, and market dynamics are discussed in detail under the research scope. Detailed insight on ultracapacitors market post-COVID will also be covered.
In order to give the users of this report a comprehensive view on the ultracapacitors market, we have also included competitive landscape and key innovator analysis for the ultracapacitors market.
The study encompasses a growth prospect mapping analysis, wherein all the industry segments are benchmarked based on their market size, growth rate and attractiveness.
The report offers detailed company profiling featuring major market participants which will help users to understand their financial information and strategic initiatives of players operating in the ultracapacitors market.
In addition, the report also unveil the important acquisitions & mergers, collaborations & joint ventures, new launch, research & development, regional expansion of major participants involved in the market on global as well as regional level.
The global ultracapacitors market report primarily caters to various stakeholders in this industry including suppliers, investors, new entrants, distributors, and financial analysts
SCOPE OF THE REPORT
The scope of this report covers the market by its major segments, which include as follows:
THE GLOBAL ULTRACAPACITORS MARKET KEY PLAYERS
Eaton Corporation PLC
Skeleton Technologies Inc.
Cap-XX Limited
Maxwell Technologies Inc. (Tesla Inc.)
Panasonic Corporation
THE GLOBAL ULTRACAPACITORS MARKET, BY PRODUCT TYPE
Double layer capacitors
Pseudocapacitors
Hybrid capacitors
THE GLOBAL ULTRACAPACITORS MARKET, BY APPLICATION
Energy Storage
Power System
Electronic Device
Laptop
Audio system
Camera
Solar Watch
Smoke Detector
Power Backup
Engine
UPS
Buses
EV/HEV
Trains and Locomotives
Defibrillators
Aircraft
THE GLOBAL ULTRACAPACITORS MARKET, BY END-USER
Consumer Electronics
Industrial
Automotive
Energy
Medical
Aerospace & Defence
THE GLOBAL ULTRACAPACITORS MARKET, BY REGION
North America
The U.S.
Canada
Europe
Germany
France
Italy
Spain
United Kingdom
Rest of Europe
Asia Pacific
India
China
South Korea
Japan
Singapore
Rest of APAC
Latin America
Brazil
Mexico
Argentina
Rest of LATAM
The Middle East and Africa
Saudi Arabia
United Arab Emirates
Rest of MEA