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Ultracapacitors Market: Rising Demand from Automotive Sector to Drive Growth
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The declining prices of raw materials have boosted the demand for ultracapacitors in the global arena over the past few years. Various rules and policies aimed at cutting down carbon emissions implemented by several governments across the world have also added substantially to the growth of the global ultracapacitors market, the report states.
Apart from this, various benefits of ultracapacitors, such as a longer lifespan compared to batteries, have also worked in the favor of the worldwide market for ultracapacitors. However, the high cost associated with ultracapacitors has restricted the growth of this market to a certain extent.
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Analysts at TMR estimate the global market for ultracapacitors to experience robust growth over the forecast period, owing to the increased applications of ultracapacitors in vehicles such as cars and buses. The rise of the industrial and electronics sectors is also projected to fuel the demand for ultracapacitors in the coming years, states the study.
According to the report, the global ultracapacitors market is spread across North America, Asia Pacific, Europe, and the Rest of the World. Asia Pacific, among these, achieved the leadership in 2012, holding a share of 35.1% in the overall market.
Transparency Market Research (TMR) is a next-generation provider of syndicated research, customized research, and consulting services. TMR’s global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations
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