Global Automotive Ultracapacitor Market Size, Share & Trends Analysis Report By Application, By Propulsion Type (Electric, and ICE), By Vehicle Type (Passenger Car, and Commercial Vehicles), By Regional Outlook and Forecast, 2023 - 2030

Global Automotive Ultracapacitor Market Size, Share & Trends Analysis Report By Application, By Propulsion Type (Electric, and ICE), By Vehicle Type (Passenger Car, and Commercial Vehicles), By Regional Outlook and Forecast, 2023 - 2030

The Global Automotive Ultracapacitor Market size is expected to reach $8.9 billion by 2030, rising at a market growth of 21.6% CAGR during the forecast period.

Ultracapacitors are engineered to withstand many charge and discharge cycles without experiencing substantial performance degradation. This extended lifespan is crucial, especially in applications where components are subjected to frequent and repetitive cycling. Consequently, the start/stop function would generate approximately 54.7% share of the market by 2030. In automotive stop-start systems, where the engine is turned off during idle periods and restarted when needed, ultracapacitors play a vital role.

Ultracapacitors can deliver high power output quickly, providing an immediate boost during acceleration. This is especially important for achieving optimal performance in electric and hybrid vehicles where quick acceleration is desired. Ultracapacitors can quickly capture and store the energy generated during regenerative braking, which can then be efficiently released during the next acceleration phase. The capacity to promptly adapt to fluctuations in power requirements renders them well-suited for driving conditions characterized by changeability. Therefore, the aforementioned factors will result in a surge in market demand. Moreover, Traditional batteries and ultracapacitors have complementary characteristics. Batteries excel at providing sustained energy over longer durations, while ultracapacitors offer high power density and rapid charge/discharge capabilities for short bursts of intense activity. Combining batteries and ultracapacitors allows for a more balanced and optimized power performance. Owing to these aspects, the market will grow rapidly in the upcoming years.

However, The materials used in ultracapacitors, such as activated carbon electrodes and advanced electrolytes, can be more expensive than those used in traditional batteries. The manufacturing processes for ultracapacitors can be more intricate compared to traditional batteries. The complexity of production can lead to higher manufacturing costs. Innovations that could address energy density or cost issues may be hampered by limited technology investment. Thus, these factors will restrain the growth of the market.

By Application Analysis

Based on application, the market is divided into start/stop function, regenerative braking, and others. The start/stop function segment recorded the maximum revenue share in the market in 2022. Start-stop systems are installed to prevent the engine from operating when the vehicle reaches a complete halt, such as at traffic lights or while idling. Ultracapacitors play a vital role in this application by providing quick and reliable energy storage for restarting the engine. As fuel efficiency and emission reduction become critical concerns, the adoption of start-stop systems will likely grow, driving the demand for ultracapacitors. Therefore, the segment will witness increased demand in the coming years.

By Propulsion Type Analysis

On the basis of propulsion type, the market is divided into electric and ICE. In 2022, the ICE segment witnessed a substantial revenue share in the market. Ultracapacitors can be integrated into internal combustion vehicles to capture and store energy during braking events. This regenerative braking system allows the vehicle to recover energy that would otherwise be dissipated as heat, improving overall energy efficiency. Hence, the segment will expand rapidly in the coming years.

By Vehicle Type Analysis

Based on vehicle type, the market is segmented into passenger cars and commercial vehicles. The passenger car segment held the largest revenue share in the market in 2022. The global automotive industry is witnessing a substantial shift towards electrification, with many automakers investing in electric and hybrid vehicle technologies. As passenger car manufacturers focus on reducing reliance on traditional internal combustion engines, ultracapacitors are vital in optimizing energy management systems in electric and hybrid vehicles. Thus, these factors will boost the demand in the segment.

By Regional Analysis

By region, the market is segmented into North America, Europe, Asia Pacific, and LAMEA. The North America segment procured a considerable revenue share in the market in 2022. The North American automotive sector has seen a growing interest in electric and hybrid vehicles. As governments and consumers prioritize sustainability, the demand for energy-efficient technologies, including ultracapacitors, has risen. Ultracapacitors are crucial in enhancing the performance and efficiency of electric and hybrid vehicles. Thus, these factors will pose lucrative growth prospects for the segment.

Recent Strategies Deployed in the Market

• May-2023: Skeleton Technologies Collaborated with Effenco, a subsidiary of Martinrea International Inc., to supply SuperBattery technology and the Effenco Hybrid Electric solution for refuse collection vehicles in major cities like New York City and Paris.
• Mar-2023: Kemet Corporation introduced the FMU Series, a high-performance supercapacitor for automotive electronics, offering a market-leading operational temperature range from -40°C to 105°C and 1,000 hours at 85°C/85% RH-rated voltage.
• Oct-2022: Skeleton Technologies officially launched its SuperBattery and unveiled Shell as a partner. Alongwith, the company had joined a Shell-led consortium to provide electrification solutions for mining sites.
• Jul-2022: Skeleton Technologies partnered with Siemens, a German multinational technology conglomerate, to develop and implement a fully automated manufacturing plant for supercapacitors in Germany, to be used in Skeleton's new factory in Markranstädt, Leipzig.
• Jun-2022: Skeleton Technologies signed an €11.6 million agreement with Class8 Energy, a Skeleton Technologies' authorized distributor in North America, to supply supercapacitor modules to the North American trucking and retail industry, expanding its presence in the region's heavy vehicles market.

List of Key Companies Profiled

• Maxwell Technologies (UCAP Powers, INC.)
• Skeleton Technologies
• Yunasko Ltd
• Panasonic Holdings Corporation
• Hitachi, Ltd (Hitachi Energy Ltd.)
• Kemet Corporation
• XS Power Batteries (Loxus)
• Nichicon Corporation
• Nippon Chemi-Con Corp.
• Sumitomo Corporation

Global Automotive Ultracapacitor Market Report Segmentation

By Application

• Start/Stop Function
• Regenerative Braking
• Others

By Propulsion Type

• Electric
• ICE

By Vehicle Type

• Passenger Car
• Commercial Vehicles

By Geography

• North America
• US
• Canada
• Mexico
• Rest of North America
• Europe
• Germany
• UK
• France
• Russia
• Netherlands
• Norway
• Rest of Europe
• Asia Pacific
• China
• Japan
• India
• South Korea
• Taiwan
• Malaysia
• Rest of Asia Pacific
• LAMEA
• Brazil
• Argentina
• UAE
• Saudi Arabia
• South Africa
• Nigeria
• Rest of LAMEA