Automotive Ultra-capacitor Market Size (2024 - 2029)

Automotive Ultra-capacitor Market Analysis

The automotive ultra-capacitor market is valued at USD 1.50 billion in the current year. It is anticipated to grow to USD 4.27 billion by the next five years, registering a CAGR of 19% in terms of revenue during the forecast period.

Over the medium term, the enactment of stringent emissions and fuel economy norms and increasing government initiatives, in terms of subsidies and benefits for increasing the adoption rate of electric vehicles, is expected to witness major growth during the forecast period.

The use of ultra-capacitors expanded the battery load and enabled vehicle manufacturers to achieve fuel efficiency, extended battery life, reduced vehicle weight, and reduced CO2 emissions. Ultra-capacitors are likely to penetrate at a faster rate in all vehicle types, including conventional, hybrid, and electric vehicles, to meet the growing stringent emission rules across the world.

Ultra-capacitors, typically connected in tandem with vehicle batteries, support peak load demands for short intervals (which are less than 30 seconds) encountered during start/stop and regeneration braking applications. The capacity for quick recharge and discharge of high energy offered by ultra-capacitors drove the vehicle manufacturers to deploy them in the start/stop systems and regenerative braking systems. Primary energy sources, like internal combustion engines, fuel cells, and batteries in vehicles, were identified to be inefficient in handling peak power demand or recapturing energy during the applications above.

Automotive Ultra-capacitor Industry Segmentation

An ultracapacitor is a long-lasting energy storage device that is designed to store and release electrical energy faster than a battery. Ultra-capacitor is also known as supercapacitor or electric double-layer capacitor.

The automotive ultra-capacitor market is segmented by application, vehicle type, sales channel, and geography. By application, the market is segmented into start-stop operation, regenerative braking systems, and other applications. By vehicle type, the market is segmented into passenger cars and commercial vehicles. By sales channel, the market is segmented into Original Equipment Manufacturer (OEM) and Aftermarket. By geography, the market is segmented into North America, Europe, Asia-Pacific, and the rest of the world. For each segment, the market sizing and forecast are done based on the value (USD).