Global Automotive Ultracapacitor Market Growth Analysis 2024 – Forecast Market Size And Key Factors Driving Growth

Overview and Scope

An automobile ultracapacitor, also referred to as a supercapacitor or electrochemical capacitor, is a form of electrical energy storage device that uses electrostatic charge separation to store and release energy quickly. They are widely used in automotive systems to offer high-power acceleration assistance during braking and improve overall vehicle reliability and efficiency.

Sizing and Forecast

The automotive ultracapacitor market size has grown exponentially in recent years. It will grow from $1.66 billion in 2023 to $2.05 billion in 2024 at a compound annual growth rate (CAGR) of 23.3%. The growth in the historic period can be attributed to emergence of electric vehicles, growth of hybrid vehicles, efficiency in start-stop systems, rise in energy recovery systems, improvements in durability and lifespan..

The automotive ultracapacitor market size is expected to see exponential growth in the next few years. It will grow to $4.42 billion in 2028 at a compound annual growth rate (CAGR) of 21.2%. The growth in the forecast period can be attributed to focus on sustainable mobility, expansion in public transport electrification, demand for lightweight solutions, innovations in energy storage, enhanced charging infrastructure.. Major trends in the forecast period include regulatory push for lower emissions, electrification of vehicles, advancements in energy storage, demand for fast charging, integration in start-stop systems..

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Segmentation & Regional Insights

The automotive ultracapacitor market covered in this report is segmented –

1) By Type: Double-Layered Capacitors, Pseudo Capacitors, Hybrid Capacitors
2) By Vehicle Type: Passenger Vehicle, Commercial Vehicle
3) By Sales Channel: Original Equipment Manufacturer, Aftermarket
4) By Application: Start-stop Operation, Regenerative Braking System, Other Applications

Western Europe was the largest region in the automotive ultracapacitor market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the automotive ultracapacitor market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

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Major Driver Impacting Market Growth

The increasing demand for electric vehicles is expected to propel the growth of the automotive ultracapacitor market going forward. An electric vehicle (EV) is a type of vehicle that is powered by electricity rather than by internal combustion engines fueled by gasoline or diesel. Automotive ultracapacitors are used in electric vehicles to boost performance, lengthen battery life, and act as a backup power supply in case of emergency. For instance, in July 2023, according to a report published by the International Energy Agency, a France-based autonomous intergovernmental organization, sales of electric cars doubled in 2021 to set a new record of 6.6 million, and the number of electric cars on the world’s roads by the end of 2021 was about 16.5 million. Therefore, the increasing demand for electric vehicles is driving the growth of the automotive ultracapacitor market.

Key Industry Players

Major companies operating in the automotive ultracapacitor market report are Panasonic Holdings Corporation, Sumitomo Corporation, Eaton Corporation plc, TDK Corporation, Kyocera Corporation, Yageo Corporation, Taiyo Yuden Co. Ltd., Rutronik Elektronische Bauelemente GmbH, Nippon Chemi-Con Corp., LS Mtron Co. Ltd., Skeleton Technologies, Nesscap Co. Ltd., Tecate Group, Cornell Dubilier Electronics Inc., Ioxus, VINATech Co. Ltd., Systematic Power Manufacturing LLC, Yunasko Ltd., ELNA America Inc., TOKIN Corporation, Evans Capacitor Company, LICAP Technologies Inc., NAWA Technologies, Maxwell Technologies Inc., CAP-XX Limited, Seeo Inc.

The automotive ultracapacitor market report table of contents includes:

1. Executive Summary
2. Automotive Ultracapacitor Market Characteristics
3. Automotive Ultracapacitor Market Trends And Strategies
4. Automotive Ultracapacitor Market – Macro Economic Scenario
5. Global Automotive Ultracapacitor Market Size and Growth
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32. Global Automotive Ultracapacitor Market Competitive Benchmarking
33. Global Automotive Ultracapacitor Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Automotive Ultracapacitor Market
35. Automotive Ultracapacitor Market Future Outlook and Potential Analysis
36. Appendix