Ultracapacitors Market To Reach USD 12.6 Million By 2032 | DataHorizzon Research

The ultracapacitors market size was valued at USD 2.8 Million in 2023 and is expected to reach a market size of USD 12.6 Million by 2032 at a CAGR of 18.1%.

Fort Collins, Colorado, May 06, 2024 (GLOBE NEWSWIRE) —

The growing demand from utilities for enhanced performance drives industry developments.

The industry is witnessing a surge in demand from utilities seeking enhanced performance and reliability across various domains. Advantages such as extended lifecycle, exceptional energy storage capabilities, and high reliability will increase adoption in the coming years. Ongoing technological advancements enable these components to operate at higher power levels. Features such as maintenance-free operation, safety, broad operating temperature ranges, high power, and energy density are projected to further boost demand for ultra-low power solutions during the forecast period.

Additionally, transducers’ scalable and versatile nature allows for their application in various systems, including power conversion systems, DC-to-AC inverters, and DC-to-DC boost converters. Furthermore, innovative technologies like ultrafine conductors address power quality issues and complexities in electric transmission line construction, further contributing to industry growth prospects.

Ultracapacitors are a clean technology ideal for industrial applications, as they prolong the lifespan of other energy sources, such as simple, cost-effective batteries. These lightweight, durable modules excel at delivering and absorbing high currents, making them suitable for providing energy to forklifts and automated Guided Vehicles (AGVs) and aiding in emissions reduction efforts. Given these factors, ultracapacitors will likely witness rapid adoption during the forecast period. 

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Segmentation Overview:

The ultracapacitors market has been segmented into type, power type, application, and region.

Pseudo capacitors accounted for a significant market share in 2023.

  • Based on type, the ultracapacitors market is trifurcated into electric double-layered capacitors, pseudo capacitors, and hybrid capacitors. The pseudo capacitors segment holds the majority of the ultracapacitors market share. A pseudo capacitor is an ultracapacitor that uses redox reactions at the electrode-electrolyte interface to store and release energy.

The automotive industry is the leading application segment and continues to dominate the market growth.

  • The ultracapacitors market is again segmented by application into automotive, consumer electronics, energy, industrial, and others. The automotive industry is changing dramatically by incorporating advanced technology and features. Modern vehicles have many electronic systems and components that require energy-saving solutions. 

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Ultracapacitors Market Report Highlights:

  • The ultracapacitors market growth is anticipated at a CAGR of 18.1% by 2032.
  • The ultracapacitors industry is mostly driven by the inherent advantages of ultrasonic transducers to create advanced products have led to increased use of uninterruptible power supplies (UPS), adjustable speed drives (ASD), and fuel cells by manufacturers.
  • The Asia-Pacific dominates the global ultracapacitors market, fueled by rapid industrialization, urbanization, and the growing demand for energy storage solutions. Countries like China, Japan, South Korea, and India are at the forefront of market growth, driven by their strong manufacturing capabilities and ambitious renewable energy targets. 
  • Some prominent players in the ultracapacitors market report include Panasonic Corporation, Nippon Chemi-Con Corporation, LS Mtron, Nesscap Co Ltd., Ioxus Inc., Supreme Power Solutions Co. Ltd., VINA Tech Co. Ltd., Maxwell Technologies, Inc., Cap-XX, NEC-Tokin, and Yunasko. 

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