Recovery
of economies and emergence of new ones on the backdrop of rapid
industrialization has given a fresh impetus to the global
ultracapacitors market. The ultracapacitors market is growing at a
phenomenal pace as automobile manufacturers are realizing its
advantages, which justifies the high cost. An ultracapacitor which is
also known as supercapacitor is a high-capacity electrochemical
capacitor capable of storing huge amounts of energy than a regular
capacitor. As compared to a normal capacitor, an ultracapacitor can
store 100 times more energy, they can receive and deliver charge
faster than batteries, and can take greater number of charge and
discharge cycles than normal rechargeable batteries.
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What
is Driving the Global Ultracapacitor Market?
The
global ultracapacitors market was valued at US$672.0 million in 2012
and is expected to increase to US$3,120.0 million in 2019, growing at
a CAGR of 25.2% from 2013 to 2019. The primary growth drivers
contributing to this incredible growth are alarming bells about
rising carbon emissions, high cost of cost of fossil fuels, and rapid
depletion of natural resources which is making the world look for
alternatives means of transportation. The persistent efforts taken by
public and private sector to cut down on carbon emissions and to save
fuel is also driving the global ultracapacitor market on the road to
success.
As
governments across the globe are tightening their leashes around
release of carbon emissions, at national levels, the need for
ultracapacitors by the automobile sectors and others is growing at a
rapid pace. The need to think of environmentally-friendly energy
storage methods is the crucial ingredient that is encouraging the
growth of global ultracapacitors market. In the coming years, as the
“go green” resolves pick pace, they will drive the
ultracapacitors market in various parts of the part for both, the
manufacturers and buyers.
Components
of Global Ultracapacitor Market
The
global ultracapacitors market has been segmented on the basis of
applications and geography. The applications segment includes
segments such as automotive, industrial, energy, and electronics. The
automotive segment is inclusive of buses, auto, trains, and others;
the industrial segment includes cranes, smart grid, mining, and
valves; the energy segment includes wind, solar, and energy
harvesting; and the electronics segment is inclusive of solid state
disk drive, non-volatile RAM, and UPS. Some of the applications of
ultracapacitors are seen industries such as military, aerospace, and
sensor technology. In terms of geography, the global ultracapacitors
market is broadly divided into North America, Asia Pacific, Europe,
and Rest of the World. The North American region is inclusive of
U.S., Mexico, and Canada; Europe region includes U.K., France, Italy,
Germany, and rest of European countries; Asia Pacific region is
further segmented into Japan, China, India, Australia, Hong Kong,
Singapore, and Rest of Asia Pacific; and Rest of the World includes
Middle East, Africa, and South America.
Future
of Global Ultracapacitor Market
In
terms of geography, Asia Pacific was the biggest market share holder
in the global ultracapacitors market in 2012. Some of the prominent
regions in the Asia Pacific region that have made an indelible impact
on the economy of ultracapacitors market are China, Australia, Japan,
India, and Singapore. The leading manufacturer of ultracapacitors
China as the government has been imposing strict regulatory norms
pertaining to carbon emissions of vehicles. Ultracapacitors find an
indispensable use in hybrid buses of China which is further fueling
the growth of this market in the Asia Pacific region.
Some
of the major companies making a difference in the global
ultracapacitors market are Maxwell Technologies, Nesscap Co. Ltd.
(South Korea), Panasonic, Maxwell Technologies (U.S.), VINATech
(South Korea), Nippon Chemi-Con Corp. (Japan), LS Mtron (South
Korea), Panasonic (Japan), Ioxus (U.S.), and SPS (China). Presently,
Maxwell Technologies holds the largest market share in the global
ultracapacitors market.
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