Global Automotive Ultracapacitor Market Size Study & Forecast, By Vehicle Type (Passenger Car and Commercial Vehicle), By Propulsion Type (Electric Vehicle and Internal Combustion Engine), By Application (Start /Stop Function, Regenerative Breaking, and O

Global Automotive Ultracapacitor Market Size Study & Forecast, By Vehicle Type (Passenger Car and Commercial Vehicle), By Propulsion Type (Electric Vehicle and Internal Combustion Engine), By Application (Start /Stop Function, Regenerative Breaking, and Others), and Regional Analysis, 2023-2030

Global Automotive Ultracapacitor Market is valued at approximately USD 2.02 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 21.8% over the forecast period 2023-2030. An automotive ultracapacitor, also referred to as an automotive supercapacitor or electric double-layer capacitor (EDLC), is a specialized energy storage device designed for automotive use. It operates by storing and releasing electric energy through electrostatic charge separation. Specifically tailored for automotive applications, ultracapacitors offer energy storage and discharge capabilities, making them ideal for tasks like regenerative braking, peak power support, and short-term energy storage in electric and hybrid vehicles. These ultracapacitors complement conventional batteries by providing high power density and a longer lifecycle. This contributes significantly to enhanced energy efficiency and overall performance, particularly in internal combustion engine (ICE) vehicles. The growing emphasis on vehicle electrification, efficiency improvements, and the adoption of regenerative braking systems are the key factors that are expected to stimulate the growth of the automotive ultracapacitor market in the anticipated years.

In addition, the market for automotive ultracapacitors is significantly influenced by the growing trend of vehicle electrification, which includes hybrid and electric cars. Ultracapacitors are essential to these cars because they provide quick energy storage and release for features like peak power assistance and regenerative braking. As per the data from Statista, the global production of hybrid electric vehicles (HEVs) reached 2.9 million units in 2020. It is projected that this production trend will continue to increase, with estimates indicating a rise to around 5.4 million units by the year 2025. Thus, these aforementioned factors are propelling the growth of the Automotive Ultracapacitor Market during the estimated period. Moreover, the rising adoption of ultracapacitors in EV fast charging and mild hybrid systems, as well as increasing advancement in the technology of ultracapacitors present various lucrative opportunities over the forecast years. However, the limited adoption rate over traditional batteries and the high cost associated with the product are challenging the market growth throughout the forecast period of 2023-2030.

The key regions considered for the Global Automotive Ultracapacitor Market study include Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. Asia Pacific dominated the market in 2022 owing to the rapid surge of electric vehicles in countries like India, Japan, South Korea, and others, supported by favorable government policies, which are fueling the need for energy storage solutions. The rise in urbanization and population has led to a surge in the demand for automobiles. Moreover, the Asia-Pacific market is projected to experience rapid growth in the forecast period, driven by infrastructure advancements and heightened vehicle purchases. Whereas Europe is expected to grow at a significant CAGR over the forecast years. The OEMs are making substantial investments in electric vehicle (EV) production leading to a rise in the adoption of EV components such as converters, ultracapacitors/supercapacitors, and other innovations, along with the growing hybrid and electric vehicle sales are significantly propelling the market demand across the region. European companies are actively researching and developing advanced technologies, while ongoing R&D efforts and collaborations between technology firms and manufacturers have resulted in advancements in ultracapacitor technology, stimulating market growth in the region.

Major market players included in this report are:
Maxwell Technologies (South Korea)
Skeleton Technologies (Estonia)
Yunasko Ltd (U.K.)
Panasonic Corporation (Japan)
Hitachi AIC Inc. (Japan)
ELNA America Inc. (U.S.)
LOXUS Inc. (U.S.)
Nichicon Corporation (Japan)
LS Mtron Ltd (South Korea)
SPEL Technologies (India)

Recent Developments in the Market:
 In October 2023, NICHICON CORPORATION introduced the UTH series of tiny aluminum electrolytic capacitors in response to the need for extended life and compactness in the power supply industry. The combined technologies form the basis of the UTH series. The capacitor realizes high capacitance and compactness using newly designed high-capacity electrode foil and sealing rubber.

Global Automotive Ultracapacitor Market Report Scope:
 Historical Data – 2020 - 2021
 Base Year for Estimation – 2022
 Forecast period - 2023-2030
 Report Coverage - Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
 Segments Covered - Vehicle Type, Propulsion Type, Application, Region
 Regional Scope - North America; Europe; Asia Pacific; Latin America; Middle East & Africa

The objective of the study is to define the market sizes of different segments & countries in recent years and to forecast the values for the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters to detailed information about the crucial aspects such as driving factors & challenges that will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with a detailed analysis of the competitive landscape and product offerings of key players.

The detailed segments and sub-segment of the market are explained below:

By Vehicle Type:
Passenger Car
Commercial Vehicle

By Propulsion Type:
Electric Vehicle
Internal Combustion Engine

By Application:
Start /Stop Function
Regenerative Breaking
Others

By Region:

North America
U.S.
Canada

Europe
UK
Germany
France
Spain
Italy
ROE

Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC

Latin America
Brazil
Mexico

Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

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