According to a new report, published by KBV research, The Global Automotive Ultracapacitor Market size is expected to reach $8.9 billion by 2030, rising at a market growth of 21.6% CAGR during the forecast period.
The Regenerative Braking segment is anticipated to have a CAGR of 22.4% during (2023 - 2030). Ultracapacitors excel in rapid charge and discharge cycles, making them well-suited for the quick bursts of energy associated with regenerative braking. Their ability to capture and release energy rapidly enhances the efficiency of the regenerative braking system, contributing to overall energy savings in the vehicle. Thus, these aspects will boost the demand in the segment.
The Electric segment is leading the Global Automotive Ultracapacitor Market, By Propulsion Type in 2022 thereby, achieving a market value of $7 billion by 2030. Electric vehicles, especially those designed for high-performance applications, have high power demands during acceleration and regenerative braking. Ultracapacitors provide quick bursts of power, making them ideal for addressing these instantaneous energy requirements. The capacity of electric vehicles to capture and discharge energy efficiently contributes to their overall energy efficiency. As a result, the segment will grow rapidly in the coming years.
The Commercial Vehicles segment is experiencing a CAGR of 23% during (2023 - 2030). The commercial vehicle industry is pursuing more energy-efficient solutions in response to a greater concern for environmental regulations and sustainability. Ultracapacitors, with their ability to provide quick bursts of power for acceleration and efficient energy recovery during braking, align well with the energy demands of commercial vehicles. Thus, these factors will assist in the expansion of the segment.
Full Report: https://www.kbvresearch.com/automotive-ultracapacitor-market/
The Asia Pacific region dominated the Global Automotive Ultracapacitor Market, By Region in 2022 thereby, achieving a market value of $3.5 billion by 2030, growing at a CAGR of 22 % during the forecast period. The Europe region would witness a CAGR of 20.8% during (2023 - 2030). Additionally, The North America region is experiencing a CAGR of 21% during (2023 - 2030).
By Application
By Propulsion Type
By Vehicle Type
By Geography
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