Ultracapacitors Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2013 - 2019
Press Release :
Global Ultracapacitor Market: Snapshot
The global ultracapacitors market is growing significantly and is likely to observe a high growth in the next few years. The increasing research and development activities, along with the rising innovations are likely to support the growth of the market in the near future. The increasing awareness among people regarding the benefits of reducing the carbon emission is projected to encourage the growth of the global ultracapacitors market in the next few years. In addition to this, the increasing support from private and public organizations for saving fuels and reducing pollution are predicted to propel the global ultracapacitors market in the next few years.
As per the market intelligence study by Transparency Market Research, in 2012, the global capacitors market was worth US$0.7 bn. The market is further expected to reach a value of US$3.1 bn by the end of 2019, registering a strong 25.20% CAGR between 2013 and 2019.
Growing Demand from Automotive Sector to Accelerate Market Growth
The increasing trend of green technology has resulted in a high demand for environment-friendly energy storage solutions, thus encouraging the growth of the overall market in the next few years. The strict rules and regulations that have been imposed by the governments concerning the carbon emission, which is likely to accelerate the growth of the global ultracapacitors market in the near future. On the other hand, the lack of awareness among consumers, especially in emerging economies and the high cost of ultracapacitors are estimated to restrict the growth of the overall market in the near future.
The global ultracapacitors market has been classified on the basis of application into industrial, automotive, energy, electronics, and others. Among these, the automotive segment is anticipated to register a promising growth rate in the next few years. The growing demand for ultracapacitors in buses and cars is projected to accelerate the growth of this segment in the near future.
Asia Pacific to Lead Global Ultracapacitors Market in Coming Few Years
The global ultracapacitors market has been categorized on the basis of geography into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. Among these, Asia Pacific held a large share of the global ultracapacitors market and is predicted to witness a promising growth in the near future. The increasing contribution from Japan and China and the stringent government regulations concerning the carbon emission are some of the key factors that are estimated to accelerate the growth of the ultracapacitors market across Asia Pacific in the next few years. Furthermore, the increasing use of ultracapacitors in hybrid buses, especially in China is likely to support market growth in the near future.
The global ultracapacitors market is moderately competitive in nature with a few number of players operating in it across the globe. At present, the global ultracapacitors market is at a developing stage and is projected to witness a healthy growth in the next few years. In order to enhance their business horizon, the key players are putting emphasis on the development of new products and innovations. In addition to this, the rise in the investments by the leading players is projected to support the market and enhance the competitive environment of the market in the coming few years. Some of the key players operating in the ultracapacitors market across the globe are Nippon Chemi-Con Corp., Panasonic, Maxwell Technologies, LS Mtron, and VINATech.
High Demand by Energy Storage Applications to Boost Ultracapacitors Market
Ultracapacitors are free from the features of conventional battery such as critical rates of charging, short lifestyle, and cold intolerance. Engineering developments continue to progress the technology of ultracapacitors and are projected to be a major factor causing batteries and supercapacitors to converge. In future application areas, including construction equipment, medicine, public transportation, and residential power, is anticipated further strengthen the combination of pulse power design and specific energy storage. Growing importance of these capacitors is estimated to support development of the global ultracapacitors market in the years to come.
Ultracapacitor is one of the fastest emerging technologies and extensively utilized by thousands of energy storage applications. Their operational efficiency, greater protection, high reliability, high capacity, and ability to charge and discharge rapidly in unfavorable temperatures are amongst some of the major advantages over batteries. These benefits are expected to contribute to the robust growth of global ultracapacitors market in the near future.
Technological Advancements and Rising Demand for Pulse Batteries to Support Market Growth
As the market for supercapacitors attempts for portable and wireless devices with innovative features packed into a compact space, key businesses are working on the creation of enhanced solutions for power supply. These products are being developed as a substitute to pulse batteries. However, manufacturers need to make sure that these devices come with an extended shelf-life as compared to batteries accomplish this feat. The increasing demand for effective wear and tear properties due to chemical reactions and long battery life is forecasted to propel growth of the global ultracapacitors market in the near future.
Over the past few years, price, a long-considered enigma, has adversely affected the market; however, the emergence of lightweight, affordable supercapacitors accompanied by high conductivity, high surface area and outstanding chemical and physical stability, signifies an epoch for novel apps. In particular, the manufacturers of fuel cells, Adjustable-Speed Drives (ASDs), and Uninterruptible Power Supplies (UPS), have increased their adoption of ultracapacitors for the development of enhanced products.
Ultracapacitors also known as supercapacitors or Electrical double-layer capacitors (EDLC) is expected to see a robust growth in next six years. This is due to its increasing demand across various application sectors such as automotive, wind, electronics, industrial and military. Currently, driven by its several applications in the automotive sector in HEVs and trains, this market is expected to emerge as a supplement and replacement to conventional batteries. The application of ultracapacitors alongside batteries is expected to increase, and ultracapacitors are also expected to emerge as a replacement for batteries in the coming years. Batteries and ultracapacitors can be differentiated primarily on the basis of their functionality. Ultracapacitors are power devices whereas batteries are energy devices.
This report has been segmented by application and by geography and also includes the drivers, restraints and opportunities (DROs), Porter’s five forces analysis and value chain of the ultracapacitors market. The study highlights current market trends and also provides the forecast from 2013 to 2019. We have also covered the current market scenario for ultracapacitors and highlighted its future trends that will impact demand.
By geography, the market has been segmented into North America, Europe, Asia Pacific and RoW. In given regions, major countries such as U.S., UK, China, Japan, and Germany are covered extensively.
The report also analyzes macro economic factors influencing and inhibiting the growth of ultracapacitors market. Porter’s five forces analysis offers insights on market competition throughout its value chain. In addition, the market attractiveness analysis provided in the report highlights key investing areas in this industry. The report will help manufacturers, suppliers and distributors to understand the present and future trends in this market and formulate their strategies accordingly.
The global ultracapacitors market here refers to the market, by application and by geography, and is categorized into the following segments:
Ultracapacitors Market by Applications
- Smart Grid
- Energy Harvesting
- Solid State Disk Drive
- Non-volatile RAM
- Others (Aerospace/Military and Sensor Technology)
Ultracapacitors Market by Geography
- North America
- Rest of Europe
- Hong Kong
- Rest of Asia Pacific
- Rest of the World
- South America
- Middle East
The in-depth research and high level analysis will allow ultracapacitors market vendors and research and development agencies to make informed decisions about the ultracapacitors market, formulate growth strategies and gain competitive advantage.