What Has Been the Growth of the Automotive Ultracapacitor Market So Far?
The automotive ultracapacitor market has seen considerable growth due to a variety of factors.
• In recent times, there has been a significant expansion in the automotive ultracapacitor market. The market, which was valued at $2.05 billion in 2024, is projected to increase to $2.52 billion in 2025, which represents a compound annual growth rate (CAGR) of 23.0%.
Various factors have contributed to this growth during the historic period, such as the advent of electric vehicles, the rise of hybrid vehicles, enhancements in start-stop systems, increased use of energy recovery systems, as well as improvements in the longevity and resilience of the technology.
What Is the Forecasted Market Size and Growth Rate for The Automotive Ultracapacitor Market Size In The Coming Years?
The automotive ultracapacitor market is expected to maintain its strong growth trajectory in upcoming years.
• In the coming years, the automotive ultracapacitor market is projected to experience substantial expansion. The anticipated growth is to reach $5.35 billion by 2029 with a compound annual growth rate (CAGR) of 20.7%.
Factors contributing to this predicted growth span improvements in sustainable mobility, extended public transportation electrification, the pursuit of lightweight solutions, innovative energy storage approaches, and advanced charging infrastructure. The forecast period will also likely witness significant trends such as regulatory initiatives for reducing emissions, vehicle electrification, progress in energy storage technology, a need for rapid charging, and integration into start-stop systems.
What Factors Are Driving Growth In The Automotive Ultracapacitor Market?
Future growth in the automotive ultracapacitor market is expected to be fueled by a rising demand for electric vehicles (EVs). These vehicles, which operate on electricity instead of relying on gasoline or diesel engines, utilize automotive ultracapacitors to enhance performance, extend battery life, and offer emergency backup power. For example, the International Energy Agency, a France-based independent organization, reported that approximately 14 million new electric cars were registered worldwide in 2023, elevating the total to 40 million in use. The proportion of electric cars sold rose from 14% in 2022 to about 18% . Additionally, new registrations for electric cars in China reached 8.1 million, signifying a 35% surge compared to the previous year. Hence, the escalating demand for electric vehicles is propelling the growth of the automotive ultracapacitor market. As for the second driver, the evolution of stringent regulatory measures focused on emissions is anticipated to contribute to the growth of the automotive ultracapacitor market. These standards, enforced by government agencies, aim to curb the amount of pollutants and greenhouse gases, especially those emitted by industrial and transport sources. Such regulations induce the automotive sector to embrace more eco-friendly, efficient technologies aimed at reducing emissions. Ultracapacitors facilitate these endeavors by augmenting energy efficiency, fuel economy, and limiting emissions, promoting regenerative braking, start-stop systems, and empowering electric and hybrid vehicles. For instance, in April 2023, the United States Environmental Protection Agency (EPA), proposed stricter emission standards for light- and medium-duty vehicles. These standards targeted a variety of vehicle emissions, including greenhouse gases, ozone, particulates, and air toxins. The standards were envisioned to be both achievable and compatible with the industry's shift towards electrification. Therefore, the stricter emission regulations are fuelling the growth of the automotive ultracapacitor market.
What Are The Main Segments Of The Global Automotive Ultracapacitor Market?
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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How Are New Trends Impacting The Size Of The Automotive Ultracapacitor Market?
Businesses that dominate the automotive ultracapacitor market are channeling their efforts into introducing new and improved products, such as high-quality supercapacitors. These seek to deliver dependable services to consumers and secure a strong foothold in the market. A superior supercapacitor distinguished by its remarkable specific capacitance and power density. As of March 2023, the KEMET Corporation, a leading capacitor technology producer based in the U.S., unveiled the FMU Series. This series, aimed at vehicle electronics, comes with a high-performance supercapacitor and boasts an unparalleled operational temperature span of -40°C to 105°C. It also provides 1,000 hours at an 85°C/85% RH-rated voltage. These supercapacitors have undergone assessment based on the automotive testing procedure. They are produced in a factory that holds an ISO TS 16949 certification and undergo the PPAP (production part approval process)/PSW (part submission warrant), as well as change control. They are perfectly suited to advanced driver assistance systems (ADAS), autonomous vehicles, and central gateway electronic control units (ECUs) which necessitate a backup for the main power system in the event of a power loss.
Who Are the Key Players In The Automotive Ultracapacitor Market?
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.
What Is The Most Dominant Region 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
