Global Ultracapacitors Market Size Is Projected To Exceed USD 8,017.7 Million by 2026 says a new report by Polaris Market Research.
The global Ultracapacitors Market generated USD 1,402.8 million in 2017 and is anticipated to grow at a CAGR of 21.5% during the forecast period.
Ultracapacitors are electrical energy storage devices with the ability to store a large amount of electrical charge. Ultracapacitors offer high power density, instant recharging and long lifetimes. They offer several benefits such as wide range of operating temperatures, from -40 °C to 70 °C, improved efficiencies as compared to batteries, low maintenance requirements, and no use of toxic materials among others. Some applications of ultracapacitors include automotive, aerospace, heavy industry, heavy transportation, maritime, and renewables and grid among others.
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The demand for ultracapacitors has increased over the years owing to increasing industrialization, and rising energy consumption. There has been a significant growth in the demand of ultracapacitors from consumer goods, automotive, healthcare, and agriculture among others, supporting the ultracapacitors market growth. The increasing use of ultracapacitors in electric and hybrid vehicles, and smart meters support the growth of the market. The increasing awareness regarding use of energy efficient energy storage devices, and growing adoption of electric vehicles is expected to support market growth during the forecast period. Rising demand of ultracapacitors from emerging economies, growing use of nanomaterials, increasing concerns regarding fuel efficiency and technological advancements further boost the growth of the ultracapacitors market.
The report provides an extensive qualitative and quantitative analysis of the market trends and growth prospects of the Global Ultracapacitors Market, 2017-2026. This report comprises a detailed geographic distribution of the market across North America, Europe, Asia-Pacific, Latin America, and MEA. North America is further segmented into U.S., Canada, and Mexico. Europe is divided into Germany, UK, Italy, France, and Rest of Europe. Asia-Pacific is bifurcated into China, India, Japan, and Rest of Asia-Pacific.
Asia-Pacific is expected to grow at the highest rate during the forecast period owing to increasing demand of ultracapacitors from industries such as healthcare, automotive, electronics, and manufacturing. Growing industrialization along with rising environmental concerns has resulted in increasing adoption of efficient ultracapacitors in the region.
Competitive Landscape and Key Vendors
The global ultracapacitors market is characterized by the presence of well-diversified international and small and medium-sized vendors. These companies are consistently launching new products to enhance their offerings in the market. With the advancement of technologies, companies are innovating and introducing new customized products to cater the growing needs of the customers. Leading companies are also acquiring other companies, and enhancing their product offerings to improve their market reach. Acquisitions enable key players to increase their market potential in terms of geographic expansion and expansion of customer base.
The operating in the ultracapacitors market include Maxwell Technologies, Skeleton Technologies, Nippon Chemi-Con Corporation, CAP-XX, Supreme Power Solutions Co. Ltd, VINATech Co.,Ltd., NEC-TOKIN, LS Mtron, Nesscap, and Ioxus.
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- Less than 50 Volts
- 50 Volts to 100 Volts
- Above 100 Volts
- Consumer Electronics
• North America
o Rest of Europe
o Rest of Asia-Pacific
• Latin America
o Rest of Latin America
• Middle East and Africa
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