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Automotive Ultracapacitor Market 2024 Report By Key Companies, Regional Analysis And Forecast 2033
Automotive Ultracapacitor Market
As per the report, 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 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%.
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Surging Demand For Electric Vehicles Drives Growth In The Automotive Ultracapacitor Market
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.
Advancements In High-Performance Supercapacitors
Major companies operating in the automotive ultracapacitor market are focusing on developing innovative products, such as high-performance supercapacitors, to provide reliable services to their customers and strengthen the market position. A high-performance supercapacitor is a type of supercapacitor that has a high specific capacitance and power density. In March 2023, KEMET Corporation, a US-based capacitor technology manufacturer, launched the FMU Series, a high-performance supercapacitor for vehicle electronics. This series has an industry-leading operational temperature range of -40°C to 105°C and offers 1,000 hours at 85°C/85% RH-rated voltage. These supercapacitors have been tested following an automotive testing procedure. These capacitors are made in an ISO TS 16949-certified factory and go through PPAP ((production part approval [rocess)/PSW (part submission warrant) and change control. They are perfect for advanced driver assistance systems (ADAS), driverless cars, and central gateway electronic control units (ECUs) that require a main power system backup during a power outage.
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
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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.
Contents of the report:
1. Executive Summary
2. Automotive Ultracapacitor Market Report Structure
3. Automotive Ultracapacitor Market Trends And Strategies
4. Automotive Ultracapacitor Market - Macro Economic Scenario
5. Automotive Ultracapacitor Market Size And Growth
…..
27. Automotive Ultracapacitor Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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