SAN FRANCISCO, July 26, 2016 /PRNewswire/ -- The global Ultracapacitor Market is expected to reach $8,049.1 million by 2024, according to a new report by Grand View Research, Inc. These capacitors have the ability to rapidly charge to their maximum capacity and also discharge quickly up to zero-charge level. It also ensures safety of operation as it eliminates potential risk of explosion or self-ignition. Ultracapacitors have a high transient response time of 20 microseconds and are also maintenance free, which can result in increasing adoption over the coming years.
The inherent characteristics of ultracapacitors makes it suitable for use in consumer electronics including audio/video systems and digital cameras owing to low power and energy, and long life back-up offered by these modules. Further, ultracapacitors also possess high power and energy density which makes it an ideal match for use in industrial and automotive applications, which may further escalate growth over the forecast period
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- The electronics segment accounted for over 50% of the overall revenue in 2015 and is estimated to witness considerable growth over the forecast period. This is primarily attributed to the smartphone proliferation particularly in developing countries including India, China, and Brazil coupled with increasing demand for smart glasses, e-books, smart watches, and e-papers worldwide.
- The energy segment is expected to grow at a CAGR exceeding 20% over the period of 2016 to 2024. Utilization of energy storing technology in ultracapacitors delivers a considerable amount of energy at high power. This makes these modules suitable for supplying high power in multi-functional devices. In addition, the advances in material science and electronics sector have enabled new developments in the energy storage field.
- Type Outlook (Revenue, USD Million; 2014 - 2024)
- Less than 10 volts Modules
- 10 volts to 25 volts Modules
- 25 volts to 50 volts Modules
- 50 volts to 100 volts Modules
- Above 100 volts Modules
- Application Outlook (Revenue, USD Million; 2014 - 2024)
- Smart Grid
- Solid State Disk Drive
- Non-volatile RAM
- Energy Harvesting
- Regional Outlook (Revenue, USD Million; 2014 - 2024)
- North America
- Asia Pacific
- South America
- Middle East & Africa
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services.
SOURCE Grand View Research, Inc.