LONDON—Technavio analysts forecast the global automotive ultracapacitor market to grow at a CAGR of more than 19% during the forecast period, according to their latest report.
The research study covers the present scenario and growth prospects of the global automotive ultracapacitor market for 2016-2020. To calculate the market size, Technavio analysts consider the application of ultracapacitor in the start-stop system, regenerative braking system, and active suspension.
Automakers are focusing on fuel-efficient cars because of strict regulatory push. Hence, the analysts at Technavio expect more number of electric and hybrid vehicles to be included in the product portfolios of OEMs. This will open new opportunities for ultracapacitors as they are ideal for the regenerative braking mechanism of such vehicles and will contribute to increased efficiency as well.
Typically, batteries were used as the most common means of power storage in vehicles. However, they suffer few limitations in terms of limited economic life and power delivery capacity. The use of ultra-capacitors has overcome these limitations due to their robust electric performance. Thus, they find use in many applications, such as regenerative braking, start-stop, and active suspension systems, in the automotive industry.
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Technavio automotive analysts highlight the following three factors that are contributing to the growth of the global automotive ultracapacitor market:
- Regulatory push toward efficient vehicles leading to new application areas within automotive industry
- Rapid electrification in vehicles
- Ultracapacitor ideal for hybrid powertrain systems
Regulatory push toward efficient vehicles leading to new application areas within automotive industry
There are strict standards set by the governments of different countries worldwide to curb carbon emissions. The use of ultracapacitors is gaining popularity due to their environment-friendly energy storage. As the increased emission of carbon dioxide results in global warming, governments are enforcing stricter rules to reduce the same. Although the complete elimination of emissions is not possible, a significant reduction is, however, possible. Automotive manufacturers are shifting from ICE-propelled vehicles to electric energy. Replacing electrolyte batteries in cars by ultracapacitor reduces the carbon emission to the environment significantly.
Siddharth Jaiswal, a lead automotive electronics analyst at Technavio, says, “As per the European Commission, road transportation contributes to almost one-fifth of the total CO₂ emission in Europe. Light-duty vehicles contribute 15% of the emissions, while heavy-duty vehicles contribute 6% of emissions.”
Rapid electrification in vehicles
The automotive industry is undergoing a shift toward electrification from mechanical subsystems. One such example is the start/stop ignition system that does not require a mechanical key to start the vehicle. The ultracapacitor is an ideal solution for energy storage in such applications. It stores energy in an electric field that allows the quick recharge/discharge of the system, which is vital for the functioning of the start/stop system.
“Both OEMs and Tier-1 players prefer using new more advanced features in their vehicles, but fuel efficiency remains a major concern for manufacturers. The ultracapacitor proves useful in this regard, as it can store a large amount of electric charges, which can be used later to reduce fuel consumption in vehicles,” adds Siddharth.
Ultracapacitor ideal for hybrid powertrain systems
In past five years, the cost of electronics has increased rapidly by almost 8% for cars. The hike in prices is due to the installation of various functions such as front window defogger, park distance control, electric seat adjustment, communication system, heating seat, electric steering, electric braking system, electric pumping system, and electromagnetic valve gear. With the passage of time, it is observed that the electrical power consumption in cars has increased from 100 W to 150 W.
With the rise in energy requirement in cars, the energy storage capacity also needs to be increased. Ultracapacitors are used in hybrid powertrains as a unit of power for electric peak as powertrains require high power outburst in a short time. Also, they find application in vehicle propulsion systems and broad net stabilization because of their inherent features, such as high power capability, fast response time, efficiency in charge/discharge, long lifetime, and tolerance to high temperatures.
Top vendors:
- Maxwell Technologies
- NEC Tokin
- Nesscap
- Nippon Chemi-Con
- Skeleton Technologies
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