Press release
Global Automotive Ultracapacitor Market Projected to Surpass $5.35 Billion by 2029 with 20.7% Annual Growth
Automotive Ultracapacitor Market
As the demand for electric vehicles continues to rise, the automotive ultracapacitor market is expected to flourish. Electric vehicles (EVs), powered by electricity instead of conventional combustion engines, rely on automotive ultracapacitors for improved performance, extended battery life, and as a safety measure in emergencies. Data from the International Energy Agency in April 2024 indicates that in 2023, about 14 million new electric cars were registered worldwide, totaling 40 million on roads. Electric vehicles accounted for approximately 18% of all car sales, a significant rise from 14% in the previous year. The new registrations of electric cars in China alone were 8.1 million, a 35% increase from last year. This growing trend for electric vehicles is catalyzying the expansion of the automotive ultracapacitor market. As stricter emission regulations become prevalent, the automotive ultracapacitor market is anticipated to further grow. Set by governments, these emission regulations aim to control pollutants and greenhouse gases discharged into the environment from industries and transportation. The automotive sector is thus pushed to adopt greener and more efficient technologies for emission reduction. Ultracapacitors are key in this process as they enhance energy efficiency and fuel economy while decreasing emissions. They are incorporate in regenerative braking, start-stop systems, and powering electric and hybrid vehicles. According to the United States Environmental Protection Agency (EPA) in April 2023, stricter emission standards for light and medium duty vehicles are being proposed. These rules target emissions of greenhouse gases, ozone, particulate matter, and air toxics. They are designed to be achievable and align with the industry's move toward electrification, thus propelling the automotive ultracapacitor market.
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How will the growth rate of the automotive ultracapacitor market shape industry trends by 2034?
The market size for automotive ultracapacitors has experienced exponential growth in the past few years. Projected to increase from $2.05 billion in 2024 to $2.52 billion in 2025 with a compound annual growth rate (CAGR) of 23.0%. The significant expansion during the historical period is due to factors such as the rise of electric vehicles, development of hybrid models, effectiveness of start-stop systems, surge in energy recovery systems, and advancements in durability and lifespan.
The market size of automotive ultracapacitors is predicted to exponentially increase in the upcoming years, eventually hitting $5.35 billion in 2029 with a compound annual growth rate (CAGR) of 20.7%. The expected growth during this period is due to the emphasis on sustainable mobility, the broadening of electric public transportation, the requirement for lightweight solutions, advances in energy storage, and improved charging infrastructure. Noteworthy trends for the forecasted period include legislative pressure for diminished emissions, vehicle electrification, advancements in energy storage, the need for swift charging, and incorporation into start-stop systems.
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How are the latest trends influencing the growth of the automotive ultracapacitor market?
Prominent businesses in the automotive ultracapacitor market are concentrating on creating cutting-edge products, such as high-performance supercapacitors, to offer dependable services to their clients and cement their position in the market. High-performance supercapacitors are distinguished by their superior specific capacitance and power density. In March 2023, KEMET Corporation, an American capacitor technology producer, introduced the FMU Series. This high-performance supercapacitor designed for vehicle electronics boasts an unparalleled operational temperature range from -40°C to 105°C and provides 1,000 hours at 85°C/85% RH-rated voltage. It has undergone rigorous testing based on automotive testing protocols. Manufactured in an ISO TS 16949-certified facility, these capacitors undergo PPAP (production part approval process)/PSW (part submission warrant) and change control. Their suitability for advanced driver assistance systems (ADAS), autonomous vehicles, and central gateway electronic control units (ECUs) that need a primary power system backup during power failures is unquestionable.
Which primary segments of the automotive ultracapacitor market are driving growth and industry transformations?
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, After market
4) By Application: Start-Stop Operation, Regenerative Braking System, Other Applications
Subsegments:
1) By Double-Layered Capacitors: Electric Double-Layer Capacitors (EDLCs), Supercapacitors
2) By Pseudo Capacitors: Conducting Polymer Capacitors, Transition Metal Oxide Capacitors
3) By Hybrid Capacitors: Hybrid Supercapacitors, Lithium-Ion Capacitor (LIC) Technologies
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Which geographical regions are pioneering growth in the automotive ultracapacitor market?
Western Europe was the largest region in the automotive ultracapacitor market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the automotive ultracapacitor market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Who are the influential players reshaping the automotive ultracapacitor market landscape?
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.
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What Is Covered In The Automotive Ultracapacitor Global Market Report?
• Market Size Forecast: Examine the automotive ultracapacitor market size across key regions, countries, product categories, and applications.
• Segmentation Insights: Identify and classify subsegments within the automotive ultracapacitor market for a structured understanding.
• Key Players Overview: Analyze major players in the automotive ultracapacitor market, including their market value, share, and competitive positioning.
• Growth Trends Exploration: Assess individual growth patterns and future opportunities in the automotive ultracapacitor market.
• Segment Contributions: Evaluate how different segments drive overall growth in the automotive ultracapacitor market.
• Growth Factors: Highlight key drivers and opportunities influencing the expansion of the automotive ultracapacitor market.
• Industry Challenges: Identify potential risks and obstacles affecting the automotive ultracapacitor market.
• Competitive Landscape: Review strategic developments in the automotive ultracapacitor market, including expansions, agreements, and new product launches.
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