Ultracapacitor Market Size was valued at USD 1.8 Billion in 2022. The Ultracapacitor Market industry is projected to grow from USD 2.0 Billion in 2023 to USD 6.58 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 15.50% during the forecast period (2023 - 2032). An increase in demand for ultracapacitors due to their wide usage in electronic devices and the incorporation of ultracapacitors into any device increases its functionality, accuracy, and efficiency, which leads to an increase in its automation is expected to be a significant market driver for the Ultracapacitor Market.
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Market CAGR for Ultracapacitor is being driven by the Longer life cycle as compared to batteries and Growing Stringent Emission Regulations. Ultracapacitors, on average, offer a lifespan ranging from 8 to 15 years, which significantly surpasses the typical 3 to 4-year life expectancy of conventional automotive batteries. Furthermore, in various applications such as solid-state devices, standard batteries tend to last just 1-2 years. The relatively high cost of lithium-ion batteries contributes to the depreciation in the resale value of electric vehicles, thereby impeding the growth of electric car sales. In this context, ultracapacitors emerge as a promising alternative to batteries, offering an extended lifespan that eliminates the need for replacement every few years.
The integration of ultracapacitors in-vehicle systems enhances battery capacity and enables automobile manufacturers to achieve key advantages, including enhanced fuel efficiency, prolonged battery life, reduced vehicle weight, and diminished carbon dioxide (CO2) emissions. To align with stringent global emissions regulations, ultracapacitors are anticipated to gain broader acceptance across various vehicle types, encompassing conventional, hybrid, and electric vehicles. For instance, in the United States, carbon dioxide emissions per mile showed a steady decline from 369 grams per mile in 2013 to 352 grams per mile (preliminary) for FY 2017, as per the US Environmental Protection Agency (EPA). The European Union (EU) has also implemented emission standards to govern CO2 emissions from both passenger cars and commercial vehicles. Transport emissions have seen an uptick, constituting a quarter of the EU's overall greenhouse gas (GHG) emissions. Notably, the average carbon emission for new cars registered in the EU in 2016 was approximately 118.1 grams per kilometer (g/km), comfortably surpassing the 2015 target of 130g. These developments reflect the growing focus on reducing emissions and promoting cleaner, more efficient transportation solutions in the business landscape.
As a result, it is anticipated that throughout the projection period, demand for the Ultracapacitor Market will increase due to the Longer life cycle as compared to batteries and Growing Stringent Emission Regulations. Thus, driving the Ultracapacitor Market revenue.
The Ultracapacitor Market segmentation, based on Type includes Layered Capacitors, Pseudocapacitors, and Hybrid Capacitors. The Double Layered Capacitors segment dominated the market, accounting for 58% of market revenue (1.04 Billion). One of the primary advantages of DLCs is their exceptionally high power density. They can deliver and store energy at a much faster rate than batteries. This makes them suitable for applications where rapid energy discharge and recharge are essential, such as in electric vehicles (EVs), industrial machinery, and renewable energy systems.
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
The Ultracapacitor Market segmentation, based on Application includes Automotive, Consumer Electronics, Energy, Industrial, and Others. The Automotive segment dominated the market, accounting for 60% of market revenue (1.08 Billion). Ultracapacitors are gaining increased traction in electric vehicles and other automobile applications, either as substitutes for or in conjunction with conventional batteries. These applications encompass a range of electric vehicle types, including hybrid vehicles and fuel cell vehicles. Ultracapacitors are primarily deployed in diverse automotive scenarios, including providing support to the drivetrain in hybrid and electric vehicles, fuel cell and hydrogen-powered vehicles, electric buses, trucks, motorcycles, and more. Additionally, they are instrumental in capturing and storing renewable energy generated during braking and coasting and play a pivotal role in the efficient Stop-Start systems utilized in fuel-efficient automobiles.
By region, the study provides market insights into North America, Europe, Asia-Pacific, and Rest of the World. The anticipated expansion of the Ultracapacitor market in North America can be attributed to several key factors. In North America, there exists a substantial demand for energy storage solutions, primarily driven by the region's diverse energy landscape. Ultra-capacitors, often referred to as supercapacitors, present a valuable option for high-power, short-duration energy storage, catering to the requirements of various applications. Moreover, North America's increasing emphasis on renewable energy sources, such as wind and solar power, is noteworthy. In 2021, the United States witnessed an 11% growth rate in renewable energy production across multiple sectors. This surge has led to a cumulative installed capacity of approximately 325,391 megawatts (MW) of renewable energy as of 2021. Furthermore, the proportion of renewable energy in electricity generation is projected to ascend to 24% by 2030. In this context, ultra-capacitors offer an efficient means to store and release energy, making them exceptionally well-suited for stabilizing the intermittent energy supply stemming from renewable sources. This capability contributes significantly to enhancing grid reliability, a pivotal factor in the energy sector.
Further, the major countries studied in the market report are the US, Canada, Germany, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Europe's Ultracapacitor Market accounts for the second-largest market share as the industrial sector in Europe utilizes ultra-capacitors for various applications, including uninterruptible power supplies (UPS) and grid stabilization. They provide a reliable source of power in critical industrial processes and help ensure grid stability. European governments have been proactive in supporting clean energy technologies. Subsidies, incentives, and regulations encouraging the adoption of electric vehicles and clean energy solutions have boosted the ultra-capacitors market. Further, the German Ultracapacitor Market held the largest market share, and the UK Ultracapacitor Market was the fastest-growing market in the European region
The Asia-Pacific Ultracapacitor Market is expected to grow at the fastest CAGR from 2023 to 2032. This is due to substantial investments from major industry players and government institutions, as well as a focus on new product developments. Furthermore, the region's well-established electronics industry and its proclivity for embracing cutting-edge technologies have conferred a competitive advantage upon organizations operating in this market. According to BizVibe's analysis, China's manufacturing output in the consumer electronics sector accounts for over a third of the global production. Research conducted by the European Council reveals that between 2012 and 2017, China's share of worldwide production in this industry increased from 36% to 38%. This growth significantly outpaced other major electronics manufacturing regions, including North America (15%), Europe (14%), and Japan (12%). China also holds the distinction of being the largest exporter of consumer electronics globally, with estimated revenues of $557 billion. This constitutes 24% of the total $2 trillion worth of consumer electronics exports worldwide. This confluence of factors underscores the dynamic business landscape in the Asia-Pacific ultracapacitor market. Moreover, China’s Ultracapacitor Market held the largest market share, and the Indian Ultracapacitor Market was the fastest-growing market in the Asia-Pacific region.
Leading market players are investing heavily in research and development to expand their product lines, which will help the Ultracapacitor market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their global footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, the Ultracapacitor industry must offer cost-effective items.
Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the global Ultracapacitor industry to benefit clients and increase the market sector. In recent years, the Ultracapacitor industry has offered some of the most significant advantages to the energy storage sector. Major players in the Ultracapacitor Market, including Maxwell Technologies, Nippon Chemi-Con Corporation, Eaton, LS MTRON LTD, Ness Capacitor Co., Ltd., NEC Corporation, Skeleton Technologies, KEMET Corporation (YAGEO Group), Panasonic Corporation are attempting to increase market demand by investing in research and development operations.
Panasonic Corporation is a diversified company engaged in the development, manufacturing, sales, and servicing of a wide range of electric and electronic products. Their product lineup includes various items such as room air-conditioners, televisions, landline phones, digital cameras, video equipment, home audio systems, rice cookers, lighting fixtures, wiring devices, air conditioning systems, air purifiers, and even bicycles. Furthermore, Panasonic offers electronic components, manufacturing equipment, welding machinery, personal computers, tablets, projectors, batteries, electric motors, electronic materials, semiconductors, and LCD panels. Panasonic provides comprehensive solutions across multiple sectors, catering to consumer electronics, logistics, automotive, aviation, entertainment, manufacturing, and housing industries, among others. The company operates and manages facilities and research and development centers across Japan, Asia, the Americas, and Europe. Panasonic is headquartered in Kadoma-shi, Osaka, Japan. In November 2021, Panasonic Corporation introduced the JX series of SP-Cap conductive polymer aluminum electrolytic capacitors, setting a new industry benchmark for reliability. These capacitors are designed for use in power circuits, particularly in advanced communication base stations like those used in 5G technology and servers that handle increasing data traffic. This development aligns with Panasonic's commitment to providing cutting-edge solutions for the ever-evolving demands of the technology and communication sectors.
Eaton is a prominent player in power management. The company specializes in designing, developing, and marketing energy-efficient products, technologies, and services that empower customers to effectively and sustainably manage electrical, aerospace, hydraulic, and mechanical power. Eaton's clientele spans various industries, including utilities, government, industrial, information technology, residential, institutional, machine tools, marine, material handling, commercial, construction, agriculture, renewable energy, oil and gas, mining, forestry, automotive, molding, primary metals, power generation, and aerospace. Their operations extend across regions in North America, Europe, Latin America, Asia Pacific, Africa, and the Middle East. Eaton maintains an extensive global manufacturing presence, and its corporate headquarters are located in Dublin, Ireland.
Maxwell Technologies
Nippon Chemi-Con Corporation
Eaton
LS MTRON LTD
Ness Capacitor Co., Ltd.
NEC Corporation
Skeleton Technologies
KEMET Corporation (YAGEO Group)
Panasonic Corporation
Panasonic Corporation announced the launch of a KX series of conductive polymer aluminum electrolytic capacitors (also called SP-Cap) in February 2022, which they say have the highest level of reliability in the industry, up to 5,500 hours of endurance at 125°C. This series can be applied to server and communication base station power circuits, among other things.
In November 2021, Panasonic Corporation announced the JX series; these are SP-Cap conductive polymer aluminum electrolytic capacitors with the highest level of reliability in this industry. Today, this range is suitable for use in demanding power circuits such as those found in increasingly sophisticated communication base stations, e.g., 5G, and servers experiencing more and more data traffic.
KEMET announced its high-performance supercapacitors for automotive electronics –the FMD and FU0H series- in August 2021. The latter has an operational temperature range from -40 °C to +85 °C and delivers 1,000 hours at 85°C/85% RH-rated voltage. Specifically, FMD has a maximum duration time of roughly 4k hours while operating under these conditions. These supercapacitors meet an automotive testing protocol.
Richardson Electronics, Ltd., a global provider of engineered solutions for renewable energy and other power management applications, hit a significant milestone when it shipped and installed over fifty thousand patented ultracapacitors ULTRA3000® pitch energy modules (“PEMs”) in March 2024.
EnyGy is a Melbourne-based start-up that originated from Monash University’s research by Prof. Dan Li and Dr. Yufei Wang; they launched an ultracapacitor based on graphene technology in November 2023.
Skeleton Technologies is a Tallinn-based company that manufactures and develops high-energy & power-density ultracapacitors. Under new funding announced this October, the company collected €108M.
Estonia Invest and Skeleton Technologies received USD 53.74 million from the German government and the state of Saxony in March 2023 for a second production unit that will be built in Leipzig. Through this fund, it expanded its products, including ultra-capacitor.
Double Layered Capacitors
Pseudocapacitors
Hybrid Capacitors
Automotive
Consumer Electronics
Energy
Industrial
Others
North America
US
Canada
Europe
Germany
France
UK
Italy
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
South Korea
Australia
Rest of Asia-Pacific
Rest of the World
Middle East
Africa
Latin America
| Report Attribute/Metric | Details |
| Market Size 2022 | USD 1.8 Billion |
| Market Size 2023 | USD 2.0 Billion |
| Market Size 2032 | USD 6.58 Billion |
| Compound Annual Growth Rate (CAGR) | 15.50% (2023-2032) |
| Base Year | 2022 |
| Market Forecast Period | 2023-2032 |
| Historical Data | 2018- 2022 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Type, Application, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and the Rest of the World |
| Countries Covered | The US, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | Maxwell Technologies, Nippon Chemi-Con Corporation, Eaton, LS MTRON LTD, Ness Capacitor Co., Ltd., NEC Corporation, Skeleton Technologies, KEMET Corporation (YAGEO Group), Panasonic Corporation. |
| Key Market Opportunities | Growing demand from newer applications such as wind and solar |
| Key Market Dynamics | The rising use of renewable energy sources and electric vehicles (EVs) |
Ultracapacitor Market Highlights:
Frequently Asked Questions (FAQ) :
The Ultracapacitor Market size was valued at USD 1.8 Billion in 2022.
The Ultracapacitor Market is projected to grow at a CAGR of 15.50% during the forecast period, 2023-2032.
North America had the largest share of the global market
The key players in the market are Maxwell Technologies, Nippon Chemi-Con Corporation, Eaton, LS MTRON LTD, Ness Capacitor Co., Ltd., NEC Corporation, Skeleton Technologies, KEMET Corporation (YAGEO Group), and Panasonic Corporation.
The Double Layered Capacitors dominated the market in 2022.
The Automotive segment had the largest share in the global market.
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Research Analyst Level II With a technical background in information technology & semiconductors, shubham has 4.5+ years of experience in market research and analytics with the tasks of data mining, analysis, and project execution. he is the poc for our clients, for their consulting projects running under the ict/semiconductor domain. shubham holds a bachelor’s in information and technology and a master of business administration (mba). shubham has executed over 150 research projects for our clients under the brand name market research future in the last 2 years. his core skill is building the research respondent relation for gathering the primary information from industry and market estimation for niche markets. he is having expertise in conducting secondary & primary research, market estimations, market projections, competitive analysis, analysing current market trends and market dynamics, deep-dive analysis on market scenarios, consumer behaviour, technological impact analysis, consulting, analytics, etc. he has worked on fortune 500 companies' syndicate and consulting projects along with several government projects. he has worked on the projects of top tech brands such as ibm, google, microsoft, aws, meta, oracle, cisco systems, samsung, accenture, vmware, schneider electric, dell, hp, ericsson, and so many others. he has worked on metaverse, web 3.0, zero-trust security, cyber-security, blockchain, quantum computing, robotics, 5g technology, high-performance computing, data centers, ai, automation, it equipment, sensors, semiconductors, consumer electronics and so many tech domain projects.
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