Ultracapacitors Market Expected to Reach $6.6 Billion By 2031: Says Allied Market Research
Increased demand to boost grid infrastructure which for increasing access to electricity is likely to drive the growth of the global ultracapacitors market. Based on type, the pseudocapacitors segment held the major share in 2021. Based on region, Asia-Pacific would showcase the fastest CAGR by 2031.
Portland, OR, March 31, 2023 (GLOBE NEWSWIRE) — According to the report published by Allied Market Research, the global ultracapacitors market was estimated at $1.7 billion in 2021 and is expected to hit $6.6 billion by 2031, registering a CAGR of 15.3% from 2022 to 2031. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chains, regional landscapes, and competitive scenarios. The report is a helpful source of information for leading market players, new entrants, investors, and stakeholders in devising strategies for the future and taking steps to strengthen their position in the market.
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Report Coverage and Details:
|Forecast Period||2022 to 2031|
|Market Size in 2021||$1.7 Billion|
|Market Size in 2031||$6.6 Billion|
|No. of Pages in Report||297|
|Segments Covered||Type, Application, and Region|
|Drivers||Increased demand to boost grid infrastructure for an enhanced electricity accessibility|
|Opportunities||Increase in need for renewable energy industry|
|Restraints||High cost associated with ultracapacitors|
- The COVID-19 outbreak had a mixed impact on the ultracapacitors market because of the increase in demand for certain kinds of ultracapacitors, such as those used for remote monitoring and control of industrial processes. This is due to more automation and remote working capabilities being required in the pandemic situation.
- On the other hand, the COVID-19 pandemic has also caused global supply chain disruptions, which have led to a shortage of raw materials and parts required to make ultracapacitors.
- The pandemic also led to an increase in the prices of existing products and caused delays in new product launches.
The report offers a detailed segmentation of the global ultracapacitors market based on type, application, and region. The report provides an analysis of each segment and sub-segment with the help of tables and figures. This analysis helps market players, investors, and new entrants in determining the sub-segments to be tapped on to achieve growth in the coming years.
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By type, the pseudocapacitors segment accounted for the highest share in 2021, generating more than half of the global ultracapacitors market revenue and is projected to rule the roost by 2031. Simultaneously, the same segment would also showcase the fastest CAGR of 15.82% during the forecast period. The segments such as double layered capacitors and hybrid capacitors are also analyzed in the report.
By application, the automotive segment held the major share in 2021, garnering more than two-fifths of the global ultracapacitors market revenue and is projected to maintain its dominance by 2031. The same segment would also display the fastest CAGR of 16.01% during the forecast period. The consumer electronics, energy, industrial, and others segments are also studied in the report.
By region, Asia-Pacific held the major share in 2021, contributing to nearly half of the global ultracapacitors market revenue and is expected to manifest the market in terms of revenue during the forecast period. The same region would also portray the fastest CAGR of 16.21% during the forecast period. The other provinces studied in the report include North America, Europe, and LAMEA.
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The prominent market players analyzed in the global ultracapacitors market report include Ness Capacitor Co., Ltd., Skeleton Technologies, Nippon Chemi-Con Corporation, Panasonic Corporation, Eaton, Maxwell Technologies, NEC Corporation, LS MTRON LTD, and KEMET Corporation (YAGEO Group). These market players have embraced several strategies including partnership, expansion, collaboration, joint ventures, and others to highlight their prowess in the industry. The report is helpful in formulating the business performance and developments by the top players.
Key Benefits For Stakeholders:
- This study comprises analytical depiction of the ultracapacitors market share along with the current trends and future estimations to depict the imminent investment pockets.
- The overall ultracapacitor market analysis is determined to understand the profitable trends to gain a stronger foothold.
- The report presents information related to key drivers, restraints, and opportunities with a detailed impact analysis.
- The ultracapacitor market forecast is quantitatively analyzed from 2022 to 2031 to benchmark the financial competency.
- The Porter’s five forces analysis illustrates the potency of the buyers and suppliers in the ultracapacitors market growth.
- The report includes the share of key vendors and market trends.
Ultracapacitors Market Key Segments:
- Double Layered Capacitors
- Hybrid Capacitors
- Consumer Electronics
- North America (U.S., Canada, and Mexico)
- Europe (U.K., Germany, France, Italy, Spain, Russia, Netherlands, Belgium, Poland, and Rest of Europe)
- Asia-Pacific (China, Japan, India, South Korea, Australia, Malaysia, Thailand, Philippines, Indonesia, and Rest of Asia-Pacific)
- LAMEA (Latin America, Middle East and Africa)
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports“ and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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