Automotive Ultracapacitor Market is to grow at 21.6% CAGR, with the United States leading the market through 2030

Automotive Ultracapacitor Market to Hit USD 7.88 Bn by 2030

The Automotive Ultracapacitor Market was USD 2 Bn in 2023 and is expected to expand at a compound annual growth rate (CAGR) of 21.6 % from 2023 to 2030, reaching USD 7.88 Bn by 2030. Ultracapacitors are perfect for regenerative braking systems in cars because of their tremendous efficiency in quickly storing and releasing energy. Because of this, ultracapacitors are an essential technology for lowering pollutants and fuel consumption, which is consistent with the worldwide movement towards greener automotive technologies. The adaptability and application are also being improved by innovations like hybrid capacitors, which combine the characteristics of batteries and ultracapacitors.

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Automotive Ultracapacitor Market Segmentation

By Vehicle Type: Passenger Vehicles are further sub-segmented into Hatchbacks' small size and fuel efficiency make them desirable. MPVs are frequently utilized for businesses or bigger families. Sedans are frequently utilized in both the premium and budget markets. Commercial Vehicles, due to the growth of e-commerce and last-mile delivery services there is a rise in energy-efficient commercial vehicles. Heavy Commercial Vehicles provide quick power during acceleration and preserve energy during braking.

By Application: Start-Stop Operation, When the car is idle, the start-stop system automatically turns off the engine, whether it be an electric or hybrid powertrain. The kinetic energy that is normally wasted as heat during braking is recovered by regenerative braking systems and transformed into electrical energy.

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Automotive Ultracapacitor Market Regional Analysis

In the United States, Ultracapacitors are being used extensively by the rapidly increasing number of electric and hybrid electric vehicles (HEVs). The US government aimed to improve fuel efficiency and lower pollution in the vehicle industry. Federal subsidies for EVs and California's Zero Emission Vehicle (ZEV) policies put forth by the government.

Germany is one of Europe's top markets for hybrid and electric cars. The German Ultracapacitor market is projected to grow at a CAGR of 20-22 % between 2023 and 2030. German Vehicle revolution is driven by manufacturers like Volkswagen, BMW, Mercedes-Benz, and Audi.

The Chinese market for automotive ultracapacitors is anticipated to grow to a value of over USD 1.2 billion by 2025. China intends to have 20% of all new car sales be electric by 2025. The Chinese government-initiated programs such as New Energy Vehicle (NEV) for the adoption of electric vehicles.

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Automotive Ultracapacitor Market Competitive Landscape

Murata Manufacturing: Murata acquired VTI Technologies, Murata also acquired Plessey Semiconductors a UK-based company for approximately £300 million. The acquisition of Fujitsu Components was also completed by Murata.

Nesscap Energy Inc.: Nesscap Energy Inc. was purchased by Maxwell Technologies, a world leader in ultracapacitor technology, for about USD 23 million. Nesscap Energy's parent firm, Maxwell Technologies, was purchased by Tesla, Inc. for about USD 218 million.

Panasonic: Panasonic acquired Sanyo Electric for approximately $4.6 Bn USD. Panasonic also acquired Blue Yonder for USD 7.1 billion in 2022. Acquisition of Princeton Power Systems was also completed by Panasonic.

Conclusion

Ultracapacitors will play an increasingly important part in the automobile sector as their cost continues to decline and their efficiency increases.
Ultracapacitors continue to be a crucial technology for allowing the next generation of electric vehicles and sophisticated automotive power systems, despite competition from battery technologies.

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