Automotive Ultra-capacitor Market Size (2024 - 2029)

The automotive ultra-capacitor market is experiencing significant growth, driven by the implementation of stringent emissions and fuel economy regulations and supportive government initiatives for electric vehicle adoption. Ultra-capacitors enhance vehicle performance by improving fuel efficiency, extending battery life, and reducing weight and CO2 emissions. Their rapid integration across all vehicle types is facilitated by their ability to manage peak power demands, particularly in start/stop and regenerative braking systems, where traditional energy sources fall short. This expansion in market size reflects the increasing demand for technologies that support sustainable automotive solutions.

Market Size of Automotive Ultra-capacitor Industry

Automotive Ultra-capacitor Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
CAGR > 19.00 %
Fastest Growing Market Asia Pacific
Largest Market Europe
Market Concentration Medium

Major Players

Automotive Ultra-capacitor Market Major Players

*Disclaimer: Major Players sorted in no particular order

Automotive Ultra-capacitor Market Analysis

The automotive ultra-capacitor market is valued at USD 1.50 billion in the current year. It is anticipated to grow to USD 4.27 billion by the next five years, registering a CAGR of 19% in terms of revenue during the forecast period.

Over the medium term, the enactment of stringent emissions and fuel economy norms and increasing government initiatives, in terms of subsidies and benefits for increasing the adoption rate of electric vehicles, is expected to witness major growth during the forecast period.

The use of ultra-capacitors expanded the battery load and enabled vehicle manufacturers to achieve fuel efficiency, extended battery life, reduced vehicle weight, and reduced CO2 emissions. Ultra-capacitors are likely to penetrate at a faster rate in all vehicle types, including conventional, hybrid, and electric vehicles, to meet the growing stringent emission rules across the world.

Ultra-capacitors, typically connected in tandem with vehicle batteries, support peak load demands for short intervals (which are less than 30 seconds) encountered during start/stop and regeneration braking applications. The capacity for quick recharge and discharge of high energy offered by ultra-capacitors drove the vehicle manufacturers to deploy them in the start/stop systems and regenerative braking systems. Primary energy sources, like internal combustion engines, fuel cells, and batteries in vehicles, were identified to be inefficient in handling peak power demand or recapturing energy during the applications above.

Automotive Ultra-capacitor Industry Segmentation

An ultracapacitor is a long-lasting energy storage device that is designed to store and release electrical energy faster than a battery. Ultra-capacitor is also known as supercapacitor or electric double-layer capacitor.

The automotive ultra-capacitor market is segmented by application, vehicle type, sales channel, and geography. By application, the market is segmented into start-stop operation, regenerative braking systems, and other applications. By vehicle type, the market is segmented into passenger cars and commercial vehicles. By sales channel, the market is segmented into Original Equipment Manufacturer (OEM) and Aftermarket. By geography, the market is segmented into North America, Europe, Asia-Pacific, and the rest of the world. For each segment, the market sizing and forecast are done based on the value (USD).

By Application
Start-stop Operation
Regenerative Braking System
Other Applications
By Vehicle Type
Passenger Car
Commercial Vehicle
By Sales Channel
Original Equipment Manufacturer (OEM)
Aftermarket
By Geography
North America
United States
Canada
Rest of North America
Europe
Germany
United Kingdom
France
Spain
Rest of Europe
Asia-Pacific
India
China
Japan
South Korea
Rest of Asia-Pacific
Rest of the World
South America
Middle-East and Africa
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Automotive Ultra-capacitor Market Size Summary

The automotive ultra-capacitor market is poised for significant expansion, driven by the increasing adoption of electric vehicles and the need to meet stringent emissions and fuel economy standards. Ultra-capacitors, which enhance vehicle efficiency by supporting peak load demands and enabling quick energy recharge and discharge, are becoming integral in conventional, hybrid, and electric vehicles. This growth is further supported by government initiatives worldwide, aiming to reduce greenhouse gas emissions and promote eco-friendly vehicles. The market is witnessing a surge in demand due to the rapid advancement in battery technology, particularly lithium-ion batteries, which have improved in energy density and performance, making electric vehicles more appealing to consumers.

The Asia-Pacific region, led by China, is expected to experience the fastest growth in the ultra-capacitor market, fueled by infrastructure development and increased vehicle sales. China's aggressive policies promoting electric vehicles, such as sales quotas and restrictions on combustion engine vehicle registrations, are significantly boosting domestic demand. The market is also characterized by continuous innovation, with key players like Maxwell Technologies, Skeleton Technologies, and Panasonic Corporation expanding their manufacturing capabilities and forming strategic partnerships. These developments, along with the growing urbanization and rising living standards globally, are set to drive the automotive ultra-capacitor market's growth over the forecast period.

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Automotive Ultra-capacitor Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Market Drivers

      1. 1.1.1 Rise in demand for Electric Vehicles

    2. 1.2 Market Restraints

      1. 1.2.1 High Cost Associated With Product

    3. 1.3 Industry Attractiveness - Porter's Five Forces Analysis

      1. 1.3.1 Bargaining Power of Suppliers

      2. 1.3.2 Bargaining Power of Buyers/Consumers

      3. 1.3.3 Threat of New Entrants

      4. 1.3.4 Threat of Substitute Products

      5. 1.3.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION (Market Size in Value (USD))

    1. 2.1 By Application

      1. 2.1.1 Start-stop Operation

      2. 2.1.2 Regenerative Braking System

      3. 2.1.3 Other Applications

    2. 2.2 By Vehicle Type

      1. 2.2.1 Passenger Car

      2. 2.2.2 Commercial Vehicle

    3. 2.3 By Sales Channel

      1. 2.3.1 Original Equipment Manufacturer (OEM)

      2. 2.3.2 Aftermarket

    4. 2.4 By Geography

      1. 2.4.1 North America

        1. 2.4.1.1 United States

        2. 2.4.1.2 Canada

        3. 2.4.1.3 Rest of North America

      2. 2.4.2 Europe

        1. 2.4.2.1 Germany

        2. 2.4.2.2 United Kingdom

        3. 2.4.2.3 France

        4. 2.4.2.4 Spain

        5. 2.4.2.5 Rest of Europe

      3. 2.4.3 Asia-Pacific

        1. 2.4.3.1 India

        2. 2.4.3.2 China

        3. 2.4.3.3 Japan

        4. 2.4.3.4 South Korea

        5. 2.4.3.5 Rest of Asia-Pacific

      4. 2.4.4 Rest of the World

        1. 2.4.4.1 South America

        2. 2.4.4.2 Middle-East and Africa

Automotive Ultra-capacitor Market Size FAQs

The Automotive Ultra-capacitor Market is projected to register a CAGR of greater than 19% during the forecast period (2024-2029)

Maxwell Technologies, Skeleton Technologies, Nippon Chem-Con Corporation, Yunasko Ltd and Panasonic Corporation are the major companies operating in the Automotive Ultra-capacitor Market.

Automotive Ultra-capacitor Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)