Global Ultracapacitors Market

Global Ultracapacitors Market Research, 2031

The global Ultracapacitors Market Size was valued at $1.7 billion in 2021, and is projected to reach $6.6 billion by 2031, growing at a CAGR of 15.3% from 2022 to 2031.

Ultracapacitors are perfect electrochemical energy storage devices that span the gap between capacitors and batteries. . Supercapacitors employ large surface area electrode materials and thin electrolytic dielectrics to achieve high capacitance. An ultracapacitor is a high-capacity capacitor that has a capacitance value that is larger than standard capacitors and can store more energy. Two plates are separated by a dielectric and an electrolyte within supercapacitors. This divides its plates and stores more energy than standard capacitors by forming a double layer of separated charges between two porous, generally carbon-based plates.

Ultracapacitor is used in a wide range of capacitance applications such as telecommunications, data processing, PCs, hard disks, game PCs, DVDs, video cameras, mobile phones, general electronic circuits, and others. Enhanced frequency characteristics of ultracapacitor and high resistance of these capacitors to abnormal voltage impact the market growth.

The Covid-19 outbreak has had a mixed impact on the ultracapacitor market. On the one hand, there has been a significant increase in demand for certain types of ultracapacitors, such as those used for remote monitoring and control of industrial processes. This is due to the need for increased automation and remote working capabilities in response to the pandemic. On the other hand, the pandemic has also led to disruptions in global supply chains, which has resulted in shortages of raw materials and components needed to manufacture ultracapacitor. This, in turn, has led to delays in product launches and increased prices for existing products.

Presently, there is an increase in demand for ultracapacitors in vehicles, which allows manufactures to give drivers higher level of safety & security, reliability, and information & entertainment. Manufacturers of electronic devices are incorporating more ultracapacitors in their devices to add additional features and compete with other players in the market. 

The key ultracapacitor market leaders profiled in the report include NEC Corporation, LS MTRON LTD, Maxwell Technologies, Ness Capacitor Co., Ltd., Panasonic Corporation, KEMET Corporation (YAGEO Group), Nippon Chemi-Con Corporation, Eaton, and Skeleton Technologies. These key players have adopted several strategies such as new product launch and development, acquisition, partnership and collaboration and business expansion to increase the ultracapacitor market share during the forecast period.  

The global ultracapacitors market outlook is segmented into Type and Application.

By type, it is categorized into double layered capacitors, pseudocapacitors, and hybrid capacitors.High competition in the electronic market, steady upgrade in electronic devices, and increase in automation in the automotive industry through electronic devices are anticipated to drive the growth of the ultracapacitor industry in future. 

By application, it is divided into industrial, automotive, consumer electronics, energy, and others. Moreover, performance advantages such as high capacitance & lower impedance offered by ultracapacitors, and their compact size boost the growth of the market. In addition, increase in automotive electronics, and upsurge in demand for consumer electronics for ultracapacitors drive  the growth of the global market. These factors are anticipated to either drive or hamper market growth. 

By region, the ultracapacitors industry are analyzed across North America (U.S., Canada, and Mexico), Europe (UK, Germany, Italy, France, and rest of Europe), Asia-Pacific (China, India, Japan, South Korea, and rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa). Asia-Pacific accounted for the highest market share in 2021, owing to expansion of the electronics market and rise in sales of pseudo ultracapacitors. Europe was the second largest contributor in 2021, in terms of revenue and is expected to witness significant growth during the forecast period, owing to the rise in demand for double layered capacitors.  

Country-wise, the U.S. acquired a prime share in the ultracapacitor market in the North American region and is expected to grow at a significant CAGR during the forecast period of 2021-2031. The U.S. holds a dominant position in the electric vehicle sensor market size, owing to rise in advancements in the automotive industry and connected devices is expected to accelerate adoption of ultracapacitors. U.S. dominated the ultracapacitors market and is expected to retain its position during the forecast period.

In Europe, the UK, dominated the electric vehicle sensor market share, in terms of revenue, in 2021 and is expected to follow the same trend during the forecast period.  Germany is expected to emerge as the fastest-growing country in Europe's ultracapacitor with a notable CAGR, due to advancement in the automotive industry which drives the usage of ultracapacitor in the country and thus creates lucrative opportunities for the ultracapacitor market growth in Germany.

In Asia-Pacific, China is expected to emerge as a significant market for the ultracapacitor market, owing to new product developments and a significant rise in investment by prime players and government institutions. The well-established electronics industry in the Asia-Pacific region and the adoption of innovative technologies have given organizations in the region a competitive edge in the market. 

In the LAMEA region, Middle East countries garner significant market share in 2021 due to the adoption of new technologies, digital transformation, and connectivity are reshaping the future of the automotive and consumer electronics industry in the Middle East. Moreover, the Latin America region is expected to grow at a significant CAGR from 2022 to 2031, owing to the developments of the oil & gas sectors in Brazil, South Africa, and Saudi Arabia drive the growth of the ultracapacitors market in LAMEA.

Top Impacting Factors

Significant factors impacting the growth of the ultracapacitors market trends include an increased demand to boost grid infrastructure for increasing electricity accessibility and propelling demand for ultracapacitors. However, the high development cost associated with ultracapacitors may hamper market growth. Furthermore, the increase in need for renewable energy solutions provides lucrative ultracapacitors market opportunity.

Competitive Analysis

The global ultracapacitor market is highly competitive, owing to the strong presence of existing vendors. Vendors of the ultracapacitor market with extensive technical and financial resources are expected to gain a competitive advantage over their competitors because they can cater to market demands. The competitive environment in this market is expected to increase as product launches, and different strategies adopted by key vendors increase. Competitive analysis and profiles of the major global electric vehicle sensor market players that have been provided in the report include NEC Corporation, LS MTRON LTD, Maxwell Technologies, Ness Capacitor Co., Ltd., Panasonic Corporation, KEMET Corporation (YAGEO Group), Nippon Chemi-Con Corporation, Eaton, and Skeleton Technologies. 

Key Developments/ Strategies

According to the latest ultracapacitors market forecast, the top 5 key players in the electric vehicle sensor market are Eaton, Panasonic, Nippon Chemi-Con Corporation, NEC Corporation., and Skeleton Technologies. Top market players have adopted various strategies, such as product launch, collaboration, innovation, acquisition, and others to expand their foothold in the ultracapacitors market analysis.

• In February 2022, Panasonic Corporation announced launch of KX series of SP-Cap conductive polymer aluminum electrolytic capacitors with the highest level of reliability in the industry – up to 5,500 hours of endurance at 125°C. This  series of capacitors is suitable for use in power circuits for servers and communication base stations, etc.
• In November 2021, Panasonic Corporation announced the JX series of SP-Cap conductive polymer aluminum electrolytic capacitors with the highest level of reliability in the industry. This series of capacitors is suitable for use in power circuits for increasingly sophisticated communication base stations such as 5G and servers with increasing data traffic.
• In August 2021, KEMET announced its high-performance supercapacitors for automotive electronics, the FMD and FU0H series. These series deliver 1,000 hours at 85°C/85% RH-rated voltage and operational temperature ranging from -40°C to 85°C. The FMD series offers the highest lifetime with up to 4,000 hours. These supercapacitors are qualified to an automotive testing protocol.

Key Benefits for Stakeholders

• This study comprises analytical depiction of the ultracapacitors market share along with the current trends and future estimations to depict the imminent investment pockets.
• The overall ultracapacitor market analysis is determined to understand the profitable trends to gain a stronger foothold.
• The report presents information related to key drivers, restraints, and opportunities with a detailed impact analysis.
• The ultracapacitor market forecast is quantitatively analyzed from 2022 to 2031 to benchmark the financial competency.
• The Porter’s five forces analysis illustrates the potency of the buyers and suppliers in the ultracapacitors market growth.
• The report includes the share of key vendors and market trends.

 Global Ultracapacitors Market Report Highlights