Need for Greater Energy Storage Capabilities Will Significantly Propel the Demand for Ultra Capacitors Through 2019, Says Technavio
According to the latest research study released by Technavio,
the global ultra-capacitor market is expected to grow at a CAGR of over
20% until 2019.
This research report titled ‘Global
Ultra Capacitor Market 2015-2019’, provides an in-depth analysis
of market growth in terms of revenue and emerging market trends. This
market research report also includes up to date analysis and forecasts
for various market segments, including consumer electronics,
transportation, industrial manufacturing, energy, and others.
Request sample report: http://bit.ly/1pZ7Yeb
“Ultracapacitors can work as electric energy storage devices and support
heavy applications during peak consumption. The demand for uninterrupted
power supply for long hours is increasing across segments such as
automotive, industrial applications, consumer electronics, and energy
storage sectors. From basic home appliances, computers, and
entertainment gadgets, to heavy electrical applications, there is high
demand for power backup with high-energy storage devices,” said Asif
Gani, one of Technavio’s lead analysts for embedded
systems research.
“To overcome the high cost factor and demand-supply issues concerning
the use of fossil fuels, end-users such as the industrial and transport
segments are likely to switch over to stored power supplies with the
help of ultracapacitors during the forecast period,” added Asif.
Global ultra-capacitor market by application (USD billions)
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• Consumer electronics
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0.14
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• Transportation
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0.34
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• Industrial manufacturing
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0.09
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• Energy
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0.28
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• Others
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0.0072
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Largest segment: ultra-capacitor market by consumer electronics
The global ultra-capacitor market by consumer electronics was valued at
USD 240 million in 2014. The global smart devices market has been
growing constantly over the past few years. Advances in technology have
created the demand for portable, intelligent, and sustainable devices.
Ultra-capacitors in consumer electronics are first charged using a
primary power supply. The device then provides a backup to handle power
consumption demands of electronic devices such as cellphones, cameras,
and navigation systems. They also reduce hazardous effects to the
environment caused by disposal of batteries. Another reason for using
ultra-capacitors in consumer electronics is the need for smaller and
lighter energy storage solutions that can provide the same quantity of
power as their alternatives.
Second largest segment: ultra-capacitor market by transportation
The global ultra-capacitor market by transportation was valued at close
to USD 460 million in 2014. With temperatures rising across the globe
due to carbon emissions from fossil fuels, the world is rapidly looking
for greener modes of transportation, and it is predicted to augment the
adoption of ultra-capacitors during the forecast period.
Many hybrid buses with hybrid-electric propulsion systems are also
anticipated to use ultra-capacitors to reduce emissions. The use of
regenerative brake systems in vehicles such as cars and buses will
witness a key application in the adoption of ultra-capacitors. Its
implementation helps absorb all kinetic energy, and stores it for later
use.
Global ultracapacitor market by industrial manufacturing
The global ultracapacitor market for industrial manufacturing was valued
at USD 160 million in 2014. The ultracapacitors market in industrial
manufacturing applications will grow rapidly during the forecast period.
The initial adoption will be very high due to the benefits of
ultracapacitors. The high initial cost of ultracapacitors is expected to
be offset by the productivity, consistency, and durability of these
devices. Large manufacturers, such as Caterpillar have already started
using ultracapacitors to reduce fuel costs and provide energy
recuperation. This trend will likely continue well over the forecast
period and buoy further market growth.
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About Technavio
Technavio
is a leading global technology research and advisory company. The
company develops over 2000 pieces of research every year, covering more
than 500 technologies across 80 countries. Technavio has about 300
analysts globally who specialize in customized consulting and business
research assignments across the latest leading edge technologies.
Technavio analysts employ primary as well as secondary research
techniques to ascertain the size and vendor landscape in a range of
markets. Analysts obtain information using a combination of bottom-up
and top-down approaches, besides using in-house market modeling tools
and proprietary databases. They corroborate this data with the data
obtained from various market participants and stakeholders across the
value chain, including vendors, service providers, distributors,
re-sellers, and end-users.
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at media@technavio.com.
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