Global Ultracapacitor Market is Estimated to Reach $8 Billion by 2025, Says Accurize Market Research
Global Ultracapacitor Market report published by Accurize Market Research forecast that the global market is expected to reach $8 billion by 2025; growing at a CAGR of 17.2% from 2017 to 2025. By geography, Asia Pacific and North America are expected to grow at a CAGR of XX% and XX%, respectively, during the forecast period.
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Increasing electrification in vehicles to drive the global market
Major factors driving the growth of the global ultracapacitor market include increasing electrification in vehicles and growing demand for ultracapacitors in hybrid power train systems and generative braking. However, high cost of production would hamper the market growth. Additionally, rising demand for ultracapacitor in electric turbocharger would create several opportunities in the coming years.
Market Segmentation
Application and geography are the major segments considered in the global ultracapacitor market. Application is further sub-segmented into automotive (bus, auto, train, and others), industrial (cranes, valves, mining, and smart grid), energy (wind, solar, and energy harvesting), electronics (solid state disk drive, non-volatile RAM, and UPS), and others (aerospace/military).
North America, Europe, Asia-Pacific and rest of the world (RoW) are the geographical segments of the market. North America is further bifurcated into countries namely; U.S., Canada and Mexico. Europe covers countries like Russia, U.K., Germany, France, Italy and Rest of Europe. Asia-Pacific countries include China, India, Japan, South Korea and Rest of Asia Pacific. Rest of the World (RoW) covers South America, Africa and Middle East.
"Automotive accounted for the largest market share in the application segment", says Accurize
Automotive and electronics dominated the segment with largest market share. While, others segment would attain fastest CAGR during the forecast period.
"Asia-Pacific dominated the global market with the highest market share over the forecast period", says Accurize
Asia-Pacific dominated the market with largest market share of 35.5% in 2017, and is anticipated to attain fastest CAGR during the forecast period, owing to rising popularity of hybrid vehicles, and upsurge in demand for alternative to traditional energy storage devices. North America accounted the second largest market share with 26.2%, in 2017.
Top players in the market
Major companies operating in the market include Maxwell Technologies Inc., Tokin Corporation, Nesscap Co. Ltd., Vinatech Co. Ltd., Cap-XX, Ioxus Inc., LS Mtron Ltd., Nippon Chemi-Con Corporation, Panasonic Corporation, and Supreme Power Solutions Co. Ltd., among others.
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