Ultra-capacitor Market Demand Analysis by 2027
Ultra-capacitor are also referred as super capacitor, or double-layer capacitor, is an electrical component that has the capacity to carry a hundred times more electric charge than a conventional capacitor. Ultra-capacitor for electric bus possess high energy density and high capacitance, as compared to standard capacitors, and are considered highly suitable for electric and hybrid buses. Ultra-capacitor was developed and introduced in 1957 on a dual layer mechanism and is utilized for high power applications and applications where batteries are used. It can last for more than a million charging and discharging cycles with a very high rate of charge and discharge.
Rising demand for green public transport and necessity to curb transportation pollution are major factors that are expected to augment the ultra-capacitor market for electric bus during the forecast period. Electric bus is a growing trend boosting public transportation, as it is expected to be highly preferred rolling stock coupled with government tax credits and incentives and tax credit on purchase of electric bus across the globe. This is projected to drive the ultra-capacitor market for electric bus in the near future. Furthermore, ultra-capacitor offers numerous benefits such as long life, good reversibility, high efficiency, very low internal resistance, maintenance-free operation, safety, high power output, and simple loading methods. This, in turn, is anticipated to propel the ultra-capacitor market for electric bus during the forecast period. Another important advantage of ultra-capacitor for electric bus is that it can work well in a wide temperature range and can be recharged without degrading. These factors supplemented with surging sales of zero-emission buses around the world are anticipated to boost the ultra-capacitor market for electric bus during the forecast period. However, inability of the ultra-capacitor to withstand high voltage is projected to hamper the market during the forecast period.
The global ultra-capacitor market for electric bus can be segmented based on construction type, propulsion, sales channel, and region. Based on construction type, ultra-capacitor market for electric bus can be bifurcated into electrochemical double layer capacitor (EDLC), hybrid capacitor, and pseudo capacitor. The electrochemical double layer capacitor (EDLC) segment leads the ultra-capacitor market for electric bus. It contains two carbon-based capacitors, a separator, and an electrolyte. The segment is projected to expand during the forecast period.
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In terms of propulsion, the ultra-capacitor market for electric bus can be divided into fully electric bus and hybrid bus. The fully electric bus segment leads the ultra-capacitor market for electric bus as compared to the hybrid bus segment. Rise in demand for zero-emission public transportation is a key factor that is anticipated to drive the segment of the market during the forecast period.
Based on sales channel, the ultra-capacitor market for electric bus can be classified into original equipment manufacturer (OEM) and aftermarket. The OEM segment dominates the ultra-capacitor market for electric bus primarily due to the longer life span of the ultra-capacitor and increasing production and sales of electric bus around the world.
Based on region, the global ultra-capacitor market for electric bus can be segregated into Europe, North America, Asia Pacific, Middle East & Africa, and Latin America. Asia Pacific accounts for a prominent share of the global ultra-capacitor market for electric bus. This is majorly attributed to the higher rate of adoption of electric buses in the region. Furthermore, countries such as China, Japan, India, and South Korea are planning on to replace their public transport systems with zero emission transport systems. This is a prominent factor that is anticipated to drive the ultra-capacitor market for electric bus in the region.
Prominent players operating in the global ultra-capacitor market for electric bus include Cellergy, AVX Corporation, Hitachi, Ltd., Eaton, SAMSUNG SDI CO., LTD., MAXWELL TECHNOLOGIES, INC., Panasonic Corporation, Nippon Chemical Industrial CO., LTD., Murata Manufacturing Co., Ltd., NICHIA CORPORATION, and Skeleton Technologies.
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