Ultracapacitor Market anticipated to reach USD
8.88 billion by 2024
The global Ultracapacitors Market is expected to value at USD 8.049 billion by 2024. The ultracapacitor
industry is subject to witness a substantial growth due to its capability to rapidly charge and discharge quickly
up to zero charge level. Ultracapacitor offers safety of operation by eliminating potential risk of explosion or
Ultracapacitors offer advantages such as higher transient response time and minimum maintenance. These
factors are expected to fuel market demand of ultra-capacitors over the forecast period. Globally, the
ultracapacitor market is predicted to grow at CAGR of 25.0% in the forecast period, providing numerous
opportunities for market players to invest for research and development in the market.
Increasing demand for the ultra-capacitors market from wearable and wireless devices is anticipated to stimulate
market growth over the coming years. Increasing adoption of ultra-capacitors for production of portable
devices, which requires ingenious features and compact space, are expected to favor market growth as well.
Shifting trend toward enhanced power supply solutions is propelling market demand for devices with extended
shelf life as compared to batteries. Replacement of pulse batteries with ultra-capacitors owing to its extended
shelf life is predicted to boost market growth as well.
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Other factors such as longer battery lifetime, efficient wear & tear protection, and resistance from chemical
reactions are driving market progress in the last few years. However, higher initial cost and minimum
availability are expected to hamper industry growth to a certain extent. Yet, introduction of compact and
inexpensive super-capacitors with higher performance capability and enhanced conductivity are estimated to
play major role in the future market growth.