Automotive Ultracapacitor Market size is set to grow by USD 239.4 million from 2024-2028, Growing EV automotive industry to boost the market growth, Technavio

NEW YORK, July 17, 2024 /PRNewswire/ -- The global automotive ultracapacitor market  size is estimated to grow by USD 239.4 million from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of  18.53%  during the forecast period.  Growing EV automotive industry is driving market growth, with a trend towards increasing focus on advanced ultracapacitors. However, high-cost burden  poses a challenge. Key market players include CAP XX Ltd., Cornell Dubilier Electronics Inc., Eaton Corp. Plc, GODI India Pvt. Ltd., Kyocera Corp., LICAP Technologies Inc., LS MTRON Ltd., Nippon Chemi Con Corp., Panasonic Holdings Corp., Shanghai Aowei Technology Development Co. Ltd., Skeleton Technologies GmbH, SPEL TECHNOLOGIES PVT. LTD., Systematic Power Manufacturing LLC, TAIYO YUDEN Co. Ltd., TDK Corp., UCAP Power Inc., VINATech Co. Ltd., Yageo Corp., Yunasko Ltd., and Zoxcell Ltd..

Get a detailed analysis on regions, market segments, customer landscape, and companies - Click for the snapshot of this report

Key Market Trends Fueling Growth

The automotive ultracapacitor market is witnessing significant advancements with the focus on manufacturing cost-effective and scalable ultracapacitors. Companies are investing in research and development of carbon nanotube and graphene-based ultracapacitors, which can store a substantial amount of energy and release it quickly. These advanced ultracapacitors offer advantages such as small form factor, lightweight properties, elasticity, mechanical strength, and eco-friendliness. The latest technology has also led to the development of fiber-based ultracapacitors, which can be used in wearable electronics and electric vehicles. These capacitors, with a large surface area and high conductivity, have the potential to store a significant amount of energy and charge and release energy faster than batteries. The integration of these ultracapacitors in the automotive industry is expected to boost their demand and market growth during the forecast period. 

The Automotive Ultracapacitor market is witnessing significant growth due to the increasing trend towards electric energy in the automotive industry. Ultracapacitors, as an energy storage solution, offer several advantages over batteries for electric and hybrid vehicles. They provide peak power assistance during regenerative braking and offer faster charging times. With the rising demand for fuel-efficient vehicles and the increasing electric vehicles market, the use of ultracapacitors in passenger cars, commercial cars, SUVs, hatchbacks, sedans, MPVs, light commercial vehicles, and large commercial vehicles is on the rise. OEMs are integrating ultracapacitors in regenerative braking systems to improve vehicle performance and reduce greenhouse gas emissions. Ultracapacitors can also store thermal energy and electrical energy, making them an attractive alternative to brake pads and wheels. As gasoline prices continue to rise and concerns over fossil fuels grow, the electrification of vehicles through electric and hybrid systems is becoming increasingly popular. Ultracapacitors play a crucial role in these systems by providing quick energy for peak power demands and extending the overall efficiency of the vehicle. 

Discover 360° analysis of this market. For complete information, schedule your consultation- Book Here!

Market Challenges

• The ultracapacitor market in the automotive industry faces significant challenges, primarily due to the high initial cost of ultracapacitors. The cost of integrating ultracapacitors in electric cars ranges from USD2,000 to USD10,000 per kWh, which is almost ten times more expensive than batteries for electric cars, priced between USD200 and USD1,000 per kWh. This substantial price difference acts as a major hindrance to the widespread adoption and commercialization of ultracapacitors. Additionally, the market has a limited supplier base, and ultracapacitors have not been extensively tested in various applications, leading to customer hesitance and reluctance to invest. These factors are anticipated to negatively impact the growth of the automotive ultracapacitor market during the forecast period. However, substantial investments in research and development are expected to bring down the cost of ultracapacitors in the near future.
• The Automotive Ultracapacitor Market is gaining traction due to the increasing electrification of vehicles. Ultracapacitors, a type of energy storage device, offer advantages over traditional batteries in automotive applications. They can provide high power output for short durations, making them ideal for regenerative braking and peak power assistance in ICE vehicles and hybrids. However, challenges exist, such as electrostatic charge separation and the need for lightweight, high-performance supercapacitors to meet the demands of electric and hybrid passenger cars and commercial vehicles. OEMs are exploring ultracapacitors as energy storage solutions for various applications, including EV fast charging, mild hybrid systems, and autonomous driving technologies. The market for ultracapacitors in the automotive sector is expected to grow significantly as emission regulations push for more sustainable, fuel-efficient propulsion types, and green technologies gain popularity. Applications include EVs, electric parking brakes, power steering, turbochargers, suspension systems, and renewable energy applications. Hybrid capacitors and EDLC radial supercapacitors are key players in this market.

For more insights on driver and challenges - Download a Sample Report

Segment Overview 

This automotive ultracapacitor market report extensively covers market segmentation by

1. Type 
• 1.1 Double-layered capacitors
• 1.2 Pseudo capacitors
• 1.3 Hybrid capacitors
2. Application 
• 2.1 Brake regeneration
• 2.2 Start-stop operation
• 2.3 Active suspension
3. Geography 
• 3.1 APAC
• 3.2 Europe
• 3.3 North America
• 3.4 South America
• 3.5 Middle East and Africa

1.1 Double-layered capacitors-  The automotive ultracapacitor market experienced significant growth in 2023, with the double-layered capacitors or electric double-layered capacitors (EDLCs) segment leading the way. EDLCs offer the energy storage capabilities of batteries and the power discharge characteristics of capacitors, making them ideal for compact and energy-efficient storage devices. The surge in demand for such devices, particularly in the electric vehicle (EV) and transportation sectors, drove the growth of this segment. According to the International Energy Agency (IEA), global sales of electric cars reached an all-time high in 2023, accounting for 18% of electric car sales, up from 4% in 2020. This trend is expected to continue, fueling the demand for EDLCs in the automotive industry. Additionally, the increasing popularity of electric buses and hybrid buses, along with the adoption of regenerative braking systems and start-stop systems, will further boost the demand for EDLCs. These developments are poised to propel the growth of the automotive ultracapacitor market during the forecast period.

For more information on market segmentation with geographical analysis including forecast (2024-2028) and historic data (2017 - 2021)  - Download a Sample Report

Learn and explore more about Technavio's in-depth research reports

The global Automotive Adaptive Front Lighting System market is witnessing robust growth, driven by rising demand for enhanced safety and visibility in vehicles. Key players focus on advanced technologies to improve driver assistance systems.

Similarly, the global Automotive Active Safety System market is expanding rapidly due to increased awareness about vehicle safety and stringent regulations. Innovations in collision avoidance and driver assistance systems are key growth drivers.

The global Automotive Digital Key market is also booming, with growing adoption of smart technologies and convenience features. Leading automakers are integrating digital key solutions to enhance user experience and security.

Research Analysis

The Automotive Ultracapacitor market refers to the use of ultracapacitors as energy storage devices in the automotive industry. Ultracapacitors, also known as supercapacitors, differ from batteries as they store energy through electrostatic charge separation instead of chemical reactions. They offer several advantages in automotive applications, including regenerative braking, peak power assistance, and improved vehicle performance. Ultracapacitors are increasingly being adopted in the electrification of Internal Combustion Engine (ICE) vehicles and the growing Electric Vehicle (EV) and Hybrid Cars market. They provide lightweight, high-performance energy storage solutions for automotive electronics, autonomous driving technologies, and sustainability initiatives. Ultracapacitors offer fuel efficiency, reduce greenhouse gas emissions, and complement the role of batteries in electric energy storage. EDLC radial supercapacitors are a popular choice due to their high power density and fast charging capabilities. The automotive ultracapacitor market is expected to grow significantly as the demand for fuel-efficient vehicles and sustainable transportation solutions continues to rise.

Market Research Overview

The automotive ultracapacitor market refers to the use of ultracapacitors as energy storage devices in the automotive industry. Ultracapacitors, also known as supercapacitors, utilize electrostatic charge separation to store energy, making them ideal for providing high power output in automotive applications. They offer several advantages over traditional batteries, such as faster charging times, longer life cycle, and higher power density. Automotive ultracapacitors find applications in various systems of both ICE vehicles and electrified vehicles, including regenerative braking systems, peak power assistance, electric parking brakes, power steering, turbochargers, suspension systems, and autonomous driving technologies. The electrification of vehicles, driven by factors such as emission regulations, electrification initiatives, and sustainability concerns, is expected to boost the demand for ultracapacitors in the automotive industry. Ultracapacitors can be used in conjunction with batteries, such as lithium-ion batteries, to form hybrid energy storage systems, providing high power output during peak demand while batteries provide long-term energy storage. Ultracapacitors are also used in renewable energy applications, such as EV fast charging stations, and can be found in various types of vehicles, including passenger cars, commercial vehicles, SUVs, hatchbacks, sedans, MPVs, light commercial vehicles, and large commercial vehicles. The use of ultrcapacitors in automotive applications offers several benefits, including improved vehicle performance, increased fuel efficiency, reduced greenhouse gas emissions, and lower reliance on fossil fuels. The automotive ultracapacitor market is expected to grow significantly in the coming years, driven by the increasing electrification of vehicles and the need for lightweight, high-performance energy storage solutions.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

• Type
• Double-layered Capacitors
• Pseudo Capacitors
• Hybrid Capacitors
• Application
• Brake Regeneration
• Start-stop Operation
• Active Suspension
• Geography
• APAC
• Europe
• North America
• South America
• Middle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/

SOURCE Technavio