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Global Ultracapacitors Market to Grow at a CAGR of 26% in the Forecast Period of 2022-2027, Aided by the Growth in Electronics and Automotive Industry

According to a new report by EMR titled, ‘Global Ultracapacitors Market Report and Forecast 2022-2027’, the global ultracapacitors industry reached a value of about USD 2,514 million in 2020. The industry is further expected to grow at a CAGR of about 26% in the forecast period of 2022-2027.

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.

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 (2017-2021) and (2022-2027).
  • The report also offers the historical (2017-2021) and forecasted (2022-2027) 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.

About Us:

Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

EMR leverages its state-of-the-art technological and analytical tools, along with the expertise of its highly skilled team of over 100 analysts and more than 3000 consultants, to help its clients, ranging from Fortune 1000 companies to small and medium-sized enterprises, easily grasp the expansive industry data and help them in formulating market and business strategies, which ensure that they remain ahead of the curve.

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*We at Expert Market Research always strive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

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