Ultracapacitor Energy Storage: Introduction

  • In ultracapacitor energy storage, ultracapacitor, also called super capacitor, is used to deliver quick bursts of energy at the time of peak power demands. It quickly stores energy and captures excess power that could be otherwise lost.
  • Ultracapacitor energy storage systems are deployed as stand-alone assets or integrated with batteries to provide quick real time frequency, power firming, voltage, and smoothing of power
  • Ultracapacitor energy storage is used to complement a primary energy source, as it is not possible for the conventional energy storage system to repeatedly provide quick bursts of power for specific application
  • Ultracapacitor energy storage devices meet the ever increasing pulsed power and transient loads and also provide the highest level of reliability in supporting a number of utility microgrids such as industrial and commercial microgrids.

For Right Perspective & Competitive Insights on Automotive Brake Override System Market, Request for a Sample

Key Drivers of Global Ultracapacitor Energy Storage Market

  • Key drivers of the global market for ultracapacitor energy storage include increase in usage of smart grid services, aging electricity grid infrastructure, and rise in need for digitization of the power sector
  • Developing economies need to offer reliable access to electricity in remote areas. Traditional centralized grids are not capable of providing cost-effective basic electricity supply to underserved areas in a reasonable amount of time. Remote and distributed power systems have the potential to supply electricity across the world. Hence, deployment of ultracapacitor energy storage systems is anticipated to boost the market in developing economies across the world during the forecast period.
  • Growth in concerns about emissions of CO2 and greenhouse gases across the world has led to substantial investments in renewable energy generation. Ultracapacitor energy storage is largely used for storage of renewable energy. Thus, the technological shift toward renewable electricity generation is estimated to promote the ultracapacitor energy storage market during the forecast period.
  • Rise in awareness about energy conservation is also estimated to boost the global ultracapacitor energy storage market during the forecast period

Are you a start-up willing to make it big in the business? Grab an exclusive PDF Brochure of this report

Restraints of Global Ultracapacitor Energy Storage Market

  • Lack of awareness among developing economies about the utility of ultracapacitor energy storage to reduce energy costs is a key restraint of the global market. Most companies are not fully aware of the costing structure as well as benefits of ultracapacitor energy storage.
  • Financing of initial cost is another challenge, as vendors are unable to provide upfront costs and equity leasing firms are reluctant to enter the marketplace

Major Developments

  • In February 2020, Skeleton Technologies announced the launch of a 17V ultracapacitor module for wind turbine pitch control. The company also revealed that the ‘SkelMod 17V 533F’ ultracapacitor module is the latest addition to its growing ultracapacitor product family. The module is well-suited for voltage hold applications, and has been specifically developed for wind turbine pitch control and UPS applications.
  • In May 2019, Tesla, Inc. announced that it had acquired Maxwell Technologies, Inc., which was involved in development and manufacture of energy storage and power delivery products

Asia Pacific to Hold Major Share of Global Ultracapacitor Energy Storage Market

  • Based on region, the global ultracapacitor energy storage can be classified into North America, Asia Pacific, Europe, Latin America, and Middle East & Africa.
  • Asia Pacific is expected to dominate the global ultracapacitor energy storage market between 2020 and 2030, due to advancements in the renewable energy sector in the region, especially in developing economies such as China and India. An article published by the United Nations Environment Program on total renewable energy investments in 2018 states that China leads the global investment in renewable energy (US$ 91.2 Bn) and that investments in the country are anticipated to increase further, with a larger number of renewable energy projects planned during the forecast period.
  • The ultracapacitor energy storage market in Europe is expected to expand rapidly during the forecast period, owing to use of large numbers of hybrid electric vehicles (HEVs) and electric vehicles (EVs) in the region. The total investment in the renewable energy sector in the region was valued at US$ 61.2 Bn in 2018.
  • North America is likely to hold vital share of the global ultracapacitor energy storage market from 2020 to 2030, owing to high electricity consumption, stringent federal policy directives and regulations concerning greenhouse gas emissions, rising energy costs, and increasing awareness about benefits of ultracapacitor energy storage in the region

Key Players Operating in Global Market

Major players operating in the global ultracapacitor energy storage market are:

  • Skeleton Technologies
  • Tesla Inc. 
  • Others

Global Ultracapacitor Energy Storage Market, by Product

  • Standalone Ultracapacitor
  • Battery Integrated Ultracapacitor

Global Ultracapacitor Energy Storage Market, by Application

  • Industrial
  • Residential
  • Commercial

Global Ultracapacitor Energy Storage Market, by Region

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • France
    • U.K.
    • Italy
    • Spain
    • Russia & CIS
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

Custom Market Research Services

TMR offers custom market research services that help clients to get information on their business scenario required where syndicated solutions are not enough.

REQUEST CUSTOMIZATION

Ultracapacitor Energy Storage Market

Pre Book