Ultracapacitors: Key market research findings
- Increased adoption of ultracapacitors across various industries
- Shift towards carbon nanotubes and graphene-based ultracapacitors
Technavio has released a new market research report on the global ultracapacitor market, which is expected to grow at a healthy CAGR of 21% between 2015 and 2019. Growing demand for compact and efficient energy storage devices is the primary growth driver of this market. APAC is expected to lead the global market for ultracapacitors, with a market share of 38% over the next four years. Rising adoption of e-vehicles and electric power storage for industrial applications have boosted this market in the APAC region.
The new industry research report from Technavio discusses in detail the key drivers and trends responsible for the growth of this market and its sub-segments.
“Ultracapacitors offer significant advantages over regular batteries. Consequently, the segments that require instant, reliable, and constant power supply are increasingly using this technology. The traditional lead-acid batteries lack capabilities need for rapid and deep-cycle power demands. Ultracapacitors have a specific surface and charge separation which enables high power density. Besides being lightweight and long-lasting, they function efficiently over millions of charge and discharge cycles. They have no mechanical parts hence no maintenance charges,” says Navin Rajendra, Industry Manager, Hardware & Semiconductor, Technavio Research.
Of late, the manufacturers are developing carbon nanotubes and graphene-based ultracapacitors, with a focus on their portability and scalability. Such a combination enables ultracapacitor to store a high quantity of energy that can be released quickly to create a power surge. These ultracapacitors are expected to gain prominence in consumer electronics, electric vehicles, and many more applications.
The key players in the global ultracapacitor market include Maxwell Technologies, NEC Tokin, NessCap, Nippon Chemi-Con, Panasonic and Skeleton Technologies. The market is moderately fragmented with a handful of vendors in the market. The adoption of this technology is largely restricted to developed regions such as Western Europe and North America and the developed regions of Asia such as Japan, South Korea, and China. Vendors have started offering devices based on non-toxic electrolytes, which make these devices non-flammable. Some other vendors are also using organic electrolytes and solid electrolytes to make them resistant to heat and fire.
A more detailed analysis is available in the Technavio report, Global Ultracapacitor Market 2015-2019.
We can customize reports by other regions and specific segments upon request.
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