Global Supply Chain Highlights, Covid Analysis and Latest Trends – Technavio

NEW YORK, January 23, 2023 /PRNewswire/ — According to Technavio, global automotive ultracapacitor market the size is expected to grow by 165.09 million US dollars from 2022 to 2027. The market is expected to grow at a CAGR of 15.52%. Moreover, the rate of growth will accelerate. APAC will account for 42% of the global market growth during the forecast period. COVID-19 has had the most negative impact on the global automotive industry in recent years, leading to a sharp drop in demand and massive supply chain disruption. It put a lot of pressure on the already stressed global auto market. Still, there are high forecasts that few countries are getting production capacity and production back on track, indicating that supply is on track for a recovery. For more information on the global automotive ultracapacitor market, request a sample report

Increasing focus on advanced ultracapacitors is the major trend in the growth of the global automotive ultracapacitor market. Recent technological advances have led to the development of fiber-based ultracapacitors that can be used to power portable electrical devices and other small electronic devices. Fiber-based ultracapacitors such as the 6.3 Wh/mm3 carbon capacitors have the highest storage capacity. Fiber-based materials offer access to a significant surface area and are highly conductive. The large surface area is said to increase the energy storage capacity of these capacitors. Such developments are expected to drive the demand for ultracapacitors in the automotive industry, which in turn will drive the growth of the focused market over the forecast period.– buy the report!

Global Automotive Ultracapacitor Market – Five Forces
The global automotive ultracapacitor market is fragmentedand five forces analysis covers –

• Bargaining power of buyers

• The threat of new entrants

• Threat of rivalry

• Bargaining power of suppliers

• Threat of substitutes

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Global Automotive Ultracapacitors Market – Customer Landscape

The report covers the lifecycle of market adoption, from the innovator stage to the laggard stage. It focuses on adoption levels in different regions based on penetration. Additionally, the report also includes key purchasing criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.

Global Automotive Ultracapacitor Market – Segmentation Assessment

Segment view
Technavio segments the market based on type (double layer capacitors, pseudo capacitors and hybrid capacitors) and application (brake regeneration, start-stop operation and active suspension).

• The double layer capacitors segment will grow at a significant rate during the forecast period. Double layer capacitors or electric double layer capacitors (EDLCs) have the energy storage properties of batteries and the power discharge characteristics of capacitors. The growth of this segment is mainly due to factors such as increasing demand for compact and energy-efficient storage devices in end-user segments such as electric vehicles and transportation. With the increasing number of vehicles adopting EDLC, its demand is expected to increase. These factors will drive the growth of the segment during the forecast period.

Geographical overview
On the basis of geography, the global automotive ultracapacitor market is segmented into APAC, Europe, North America, South Americaand Middle East and Africa. The report provides practical insights and assesses the contribution of all regions to the growth of the global automotive ultracapacitor market.

• APAC is estimated to account for 42% of the global market growth during the forecast period. Developing countries in APAC such as China and India, have high growth potential. In addition, government initiatives are expected to drive the growth of the regional market during the forecast period. For example, the New Energy Vehicle (NEV) mandate in China increased the adoption of electric vehicles across the country. Such favorable government initiatives are increasing the demand for ECVs from fleet owners in Asia Pacific and in turn are expected to drive the growth of the automotive ultracapacitor market in the region during the forecast period.

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Global Automotive Ultracapacitors Market – Market dynamics
A key factor driving market growth

• The burgeoning EV car industry driving the growth of the global automotive ultracapacitor market.

• The EV automotive industry includes many companies that design, develop, manufacture, and sell various types of vehicles, such as hybrid electric vehicles, plug-in hybrid electric vehicles, and battery electric vehicles.

• According to the International Energy Agency (IEA), by the end of 2021, the number of electric cars worldwide is about 16.5 million.

• Such factors will influence the demand for automotive ultracapacitors, which in turn will drive market growth over the forecast period.

Major challenges hindering the growth of the market

• The a burden with a high price is challenging the growth of the global automotive ultracapacitor market.

• Ultracapacitors are about ten times more expensive than available substitutes.

• Also, customers are reluctant to adopt ultracapacitors because the market has very few suppliers.

• Furthermore, ultracapacitors have not been tested in many applications, which discourages potential customers from investing in these devices.

• Such factors will limit the growth of the market during the forecast period.

Drivers and challenges impact market dynamics that can affect business. Find more information in a sample report!

What are the key data covered in this report on Automotive Ultracapacitor market?

• Market CAGR during the forecast period

• Detailed information about the factors that will drive the growth of the Automotive Ultracapacitor market between 2023 and 2027.

• An accurate estimation of the Automotive Ultracapacitors market size and its contribution to the parent market

• Accurate predictions of upcoming trends and changes in consumer behavior

• APAC Automotive Ultracapacitor Market Growth, Europe, North America, South Americaand Middle East and Africa

• In-depth analysis of the competitive landscape of the market and detailed information on suppliers

• A comprehensive analysis of the factors that will drive the growth of the vendors in the Automotive Ultracapacitor market

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Content

1 Summary

2 Market landscape

3 Sizing the market

4 Historical market size

5 Five Forces Analysis

6 Market Segmentation by Type

7 Market Segmentation by Application

8 Customer landscape

9 Geographical landscape

10 Drivers, challenges and trends

11 Supplier landscape

12 Supplier Analysis

13 Appendix

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