The automotive ultra-capacitor market has been segmented by applications into brake regeneration, start-stop operation and active suspension. Among these segments, start-stop operation segment is expected to capture notable compound annual growth rate by the end of 2024 owing to its capability to reduce fuel consumption and emission by shutting down and restarting the engine in intermittent traffic. Further, growing penetration of electric vehicles is expected to fuel the automotive ultra-capacitor market over the forecast period.
The Automotive Ultra-Capacitor Market is expected to witness robust growth by the end of 2024 by expanding at a compound annual growth rate of around 18.3% over the period 2017-2024. Factors such as increasing production and sales of automobiles combined with rapid technological advancement are estimated to boom the automotive ultra-capacitor market by noteworthy revenue by the end of 2024.
In the regional segment, Europe has the largest market share in terms of revenue in automotive ultra-capacitor market followed by North America. Due to increasing demand for hybrid and electric vehicles, the Europe market is expected to grow with significant share in automotive ultra-capacitor market over the forecast period. Further, North-America is estimated to witness substantial growth due to rising demand for automotive ultra-capacitor over the forecast period whereas high demand for hybrid vehicles in India, China and Japan are expected to drive Asia Pacific automotive ultra-capacitor market at a very significant pace.
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Rising Penetration of Electric Vehicles Reflects Significant Opportunities
Factors such as increasing government regulations and growing sale of hybrid and electric vehicles due to fuel efficiency and CO2 emission are expected to benefit the expansion of automotive ultra-capacitor market. Further, rising disposable income of the population in developed regions combined with initiatives taken by government officials to curb greenhouse gas emission is believed to supplement the growth of the market across the globe.
However, high cost and low energy density of ultra-capacitors as compared to high energy density alternatives present in the market are likely to dampen the growth of the automotive ultra-capacitor market in the near future.
The report titled “Automotive Ultra-Capacitor Market: Global Demand Analysis & Opportunity Outlook 2024” delivers detailed overview of the automotive ultra-capacitor market in terms of market segmentation by application, end user and by region.
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Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
This report also provides the existing competitive scenario of some of the key players of the automotive ultra-capacitor market which includes company profiling of Maxwell Technologies, NEC Tokin, Ioxus, Panasonic, LS Mtron, CAP-XX, Skeleton Technologies, Nesscap, Yunasko and Nippon Chemi-Con. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the automotive ultra-capacitor market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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