According to a new report, published by KBV research, The Global Ultracapacitors/Supercapacitors Market size is expected to reach $18.3 billion by 2031, rising at a market growth of 18.7% CAGR during the forecast period.
With electric vehicles (EVs) becoming more prevalent, the demand for advanced energy storage systems is rising. While lithium-ion batteries currently dominate the EV industry, ultracapacitors are gaining attention as a complementary technology. They can provide quick bursts of power for acceleration, energy recapture through regenerative braking, and support for battery systems during peak loads, helping to extend the battery's lifespan and improve the vehicle's overall efficiency.
The 10 Volts to 25 Volts segment led the maximum revenue in the Global Ultracapacitors/Supercapacitors Market by Power in 2023, thereby, achieving a market value of $5.1 billion by 2031. This segment’s growth is primarily driven by its extensive use in consumer electronics, electric vehicles (EVs), and small industrial equipment. Ultracapacitors within this power range are highly suited for applications requiring quick energy delivery in devices like laptops, smartphones, and smaller EV systems, making it a dominant force in the market.
The Double Layered Capacitors segment is experiencing a CAGR of 18.2 % during the forecast period. These capacitors, also known as electric double-layer capacitors (EDLCs), store energy by accumulating ions on the surface of the electrode material. EDLCs are known for their excellent power density, long life cycles, and fast charge and discharge capabilities.
The Automotive segment captured the maximum revenue in the Global Ultracapacitors/Supercapacitors Market by Application in 2023, thereby, achieving a market value of $5.3 billion by 2031. In electric vehicles (EVs) and hybrid electric vehicles (HEVs), ultracapacitors are deployed more frequently in regenerative braking systems. This function not only improves vehicle efficiency but also extends the lifespan of batteries by reducing their workload.
The Carbon segment is growing at a CAGR of 18 % during the forecast period. Carbon is highly favored because of its high surface area, excellent conductivity, and cost-effectiveness, making it ideal for energy storage systems. In ultracapacitors, carbon electrodes provide fast charge-discharge cycles and long operational life, making them essential for use in automotive applications such as start-stop systems, energy recovery, and power stabilization.
Full Report: https://www.kbvresearch.com/supercapacitor-market/
The Asia Pacific region dominated the Global Ultracapacitors/Supercapacitors Market by Region in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $7.2 billion by 2031. The North America region is anticipated to grow at a CAGR of 17.9% during (2024 - 2031). Additionally, The Europe region would witness a CAGR of 18.2% during (2024 - 2031).
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