Global Ultracapacitor Market Garnered US$ 1.52 Bn In The Year 2018
According to a new market research report published by Brisk Insights, “Ultracapacitor Market (By Application (Consumer Electronics, Telecommunication, Industrial, Energy & Utilities, Automotive & Transportation, and Others), By Geography (North America, Europe, Asia Pacific, and Rest of the World)) - Growth, Future Prospects, and Competitive Landscape, 2019 -2027”, the global ultracapacitor market was valued at US$ 1.52 Bn in the year 2018 and expected to reach US$ 7.93 Bn by year 2027, expanding at a CAGR of 20.2% during the forecast from 2019 to 2027.
"Rising Research on Advanced Ultrcapacitors spur the Market Growth"
Ultracapacitor is the fastest emerging technology and is frequently applied for thousands of energy storage applications. Their quick charging & discharging capability, high power, high reliability, greater safety, and efficient operation in adverse temperature are some of the major benefits over batteries that contribute significantly to its robust market growth.
Moreover, research on ultracapacitor is continued for decades but the technology has gained momentum after the advancements in nanomaterials. National Aeronautics and Space Administration (NASA) is also researching on the novel nanomaterials that can be used as a dielectric material in solid-state ultracapacitor to enhance the energy storage applications in aerospace. As per a report published by NASA in August 2017, ultracapacitor behavior has been reported in various oxides including reduced barium titanate (BaTiO3) ferroelectric ceramics. The research has prime motive to develop an Internal Barrier Layer Capacitor (IBLC) using a novel dielectric that offers low mass-to-weight ratio, on-demand pulse power, and environment friendliness, low stand-by time without maintenance, longer life, and rapid charging speed.
The global ultracapacitor market is highly competitive in nature with the presence of significant number of players globally. Players also adopt merger & acquisition strategy of startups or other established companies to enter or retain their position in the market.
• On August 29, 2019, Eaton Corporation Inc. announced its release of the latest supercapacitor module XLR-51. The new module offers voltage and capacitor of 51.3V and 188 Farads respectively. The module is designed to work in rugged and harsh environment such as marine, transportation, material handling, and grid storage.
• On April 02, 2019, IOXUS Inc. announced to offer a 24V uSTART battery support system as a drop-in replacement for heavy equipment industry. The new product was designed with smart power electronics based on ultracapacitor technology to help in starting engines of large off-road equipment.
• On September 13, 2018, Nanoramic Laboratories closed a US$ 5 Mn investment round by two Japan-based manufacturers Marubun Corporation and NGK SPARK PLUG Co. Ltd. The fund was declared to be used for the development of next breakthrough products including thermal interface materials, ultracapacitors, EMI/RFI shielding materials, and others.
• On February 05, 2019, Tesla Inc. announced its acquisition of Maxwell Technologies Inc. The acquisition helped the company to extend its business profile in ultracapacitor and energy storage solutions.
Key Market Movements:
• Globally, the ultracapacitor market projected to witness a CAGR of 20.2% during the forecast period from 2019 to 2027
• Consumer electronics held the majority of revenue share in the global ultracapacitor market. The market growth is mainly attributed to the shifting trends in consumer preference towards smart electronic products. Robust growth in smart home devices has also contributed significantly to drive the market.
• Energy & utilities segment projected to witness the highest growth of nearly 20% over the forecast period. The robust growth of the segment is mainly due to increasing application of ultracapacitor in renewable energies and grid storage.
• The Asia Pacific led the global ultrcapacitor market in the year 2018 owing to increasing research activities in graphene supercapacitors. In 2018, China dominated the world in applications filed and patents granted for graphene supercapacitors.
List of Companies Covered:
• Eaton Corporation Inc.
• Ioxus Inc.
• Skeleton Technologies
• Tecate Group
• LS Mtron
• Tesla Inc.
• Nippon Chemi-Con Corporation
• Panasonic Corporation
• Supreme Power Solutions Co Ltd
• Vinatech Co Ltd
Browse the full report at https://www.briskinsights.com/report/ultracapacitor-market
The Global Ultracapacitor Market is Segmented into:
By Application Segment (2017–2027; US$ Bn)
By Geography Segment (2017–2027; US$ Bn)
*Complete segmentation list is on report page