Automotive Ultra-Capacitor Market Estimated to Flourish at by 2019 – 2027

Automotive ultra-capacitors are equipped into vehicles in order to carry out the start-stop function, which shuts off the vehicle’s engine during a stop and restarts the engine when the brake is released, which saves fuel. An ultra-capacitor can also be termed as super capacitor.

Scarcity of energy resources is prompting measures to save energy, which is the need of the hour for the current generation. An ultra-capacitor enables the recycle of specific amount of energy in the automobile. Therefore, energy saving is a key factor driving the automotive ultra-capacitor market. Stringent regulations on carbon emissions of vehicles enacted by regulatory bodies all over globe are also likely to boost the automotive ultra-capacitor market.

The global automotive ultra-capacitor market can be segmented based on application, end-user, vehicle type, electric vehicle type, and region.

Based on application, the automotive ultra-capacitor market can be classified into start-stop operation, regenerative braking system (RBS), and others. RBS is an energy regaining appliance incorporated in the braking system of the vehicle, which is used to convert heat energy into electrical energy. This generated energy in the form of electricity is again employed to carry out numerous functions in the vehicle. The ultra-capacitor is used to store that energy. Friction between the brake pads and wheels leads to generation of heat. The RBS utilizes the motor-generator to convert the generated heat into electrical energy, which is stored with help of ultra-capacitor. This is estimated to boost the RBS segment of the market at a significant CAGR during the forecast period.

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In terms of vehicle type, the automotive ultra-capacitor market can be bifurcated into passenger vehicles and commercial vehicles. The passenger vehicles segment can be further sub-segmented into hatchback cars, sedans, multi- purpose vehicles, and sport utility vehicles (SUVs). The SUVs sub-segment held a significant share of the passenger vehicles segment of the market, owing to the higher production of the SUVs. The commercial vehicles segment can be further split into light-weight commercial vehicles and heavy commercial vehicles.

Based on electric vehicle, the automotive ultra-capacitor market can be divided into battery electric vehicles, plug-in electric vehicles, and hybrid vehicles. A battery electric vehicle utilizes the on-board rechargeable energy storage system such as battery and motors. A hybrid engine vehicle comprises an internal combustion (IC) and electric battery; however, the electric battery is recharged completely by waste heat and energy from the conventional engine when the car is decelerating.

In terms of sales channel, the automotive ultra-capacitor market can be bifurcated into OEM and aftermarket. The OEM segment held a major share of the market, owing to more number of vehicle manufacturers incorporating ultra-capacitors in their vehicle models.

In terms of region, the automotive ultra-capacitor market can be segmented into North America, Latin America, Asia Pacific, Middle East & Africa, and Europe. Asia Pacific is likely to lead the market during forecast period, owing to the high production of vehicles in developed countries, such as China, Japan, and South Korea, in the region and increasing demand for vehicles in countries such as India and those in ASEAN. Countries in Latin America are developing at a rapid pace, post the economic and political shutdown. Brazil and Mexico are likely to be major manufacturers of vehicles in the region in the near future. The U. S. being a pioneer in the manufacturing of innovative automotive products is likely to account for a significant share of the global market during the forecast period.

Key players operating in the global automotive ultra-capacitor market include Maxwell Technologies, Panasonic, Nesscap, NEC Tokin, Yunasko, LS Mtron, Skeleton Technologies, Nippon Chemi-Con, CAP-XX, and Ioxus.

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