The global ultracapacitors market is anticipated to reach USD 8,017.7 million by 2026, according to a new research published by Polaris Market Research. Asia-Pacific is expected to grow at the highest rate during the forecast period.
The diverse applications of ultracapacitors in industries such as healthcare, automotive, and consumer goods among others are expected to support the growth of the ultracapacitors market. Other driving factors include rising demand for ultracapacitors in electric vehicles, growing use of smart meters, and rising awareness regarding use of efficient energy storage devices. However, high production costs hamper the growth of the ultracapacitors market. Growing demand from emerging economies, growing adoption of electric vehicles, and technological advancements are factors expected to provide numerous growth opportunities in the coming years.
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The growing adoption of electric vehicles, and increasing modernization of vehicles is expected to support market growth of the ultracapacitors market. The increasing requirement to reduce vehicle emissions and global carbon footprint drives the demand for electric vehicles. Use of electric vehicles offer benefits such as low maintenance costs, reduced harmful vehicle emissions, while providing comparable power.
Asia-Pacific is expected to grow at the highest rate during the forecast period owing to the presence of emerging industries such as healthcare, agriculture, construction, and automotive. The increasing use of ultracapacitors in consumer electronics, and electric vehicles, substantial initiatives in research and development, and increasing awareness regarding energy efficiency drive the market growth. Rapid industrialization and growth of manufacturing industry further support market growth in the region.
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The key players operating in the ultracapacitors markets include Maxwell Technologies, Skeleton Technologies, Nippon Chemi-Con Corporation, CAP-XX, Supreme Power Solutions Co. Ltd, VINATech Co.,Ltd., NEC-TOKIN, LS Mtron, Nesscap, and Ioxus among others. These companies launch new products and collaborate with other market leaders to innovate and launch new products to meet the increasing needs and requirements of consumers.
• Ultracapacitors Market Size and Forecast by Power, 2018-2026
o Less than 50 Volts
o 50 Volts to 100 Volts
o Above 100 Volts
• Ultracapacitors Market Size and Forecast by End-User, 2018-2026
o Automotive
o Energy
o Industrial
o Consumer Electronics
o Others
• Ultracapacitors Market Size and Forecast by Region, 2018-2026
o North America
U.S.
Canada
Mexico
o Europe
Germany
UK
France
Italy
Rest of Europe
o Asia-Pacific
China
India
Japan
Rest of Asia-Pacific
o Latin America
Brazil
o Middle East & Africa
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