18 Mar 2016 10:03:03
China : Govt Regulatory Norms to use Ultracapacitors Rises Its Market Expeditiously
An ultracapacitor which is also known as supercapacitor is a high-capacity electrochemical capacitor capable of storing huge amounts of energy than a regular capacitor. As compared to a normal capacitor, an ultracapacitor can store 100 times more energy, they can receive and deliver charge faster than batteries, and can take greater number of charge and discharge cycles than normal rechargeable batteries. The application of ultracapacitors alongside batteries is expected to increase, and ultracapacitors are also expected to emerge as a replacement for batteries in the coming years. Batteries and ultracapacitors can be differentiated primarily on the basis of their functionality. Ultracapacitors are power devices whereas batteries are energy devices.
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The Global Ultracapacitors Market estimates to report an impressive CAGR of 25.20% during the period from 2013 to 2019 and reach a market value of US$3.1 bn by the end of the forecast period.The declining prices of raw materials have boosted the demand for ultracapacitors in the global arena over the past few years. Various rules and policies aimed at cutting down carbon emissions implemented by several governments across the world have also added substantially to the growth of the global ultracapacitors market, the report states.
As governments across the globe are tightening their leashes around release of carbon emissions, at national levels, the need for ultracapacitors by the automobile sectors and others is growing at a rapid pace. The need to think of environmentally-friendly energy storage methods is the crucial ingredient that is encouraging the growth of global ultracapacitors market. In the coming years, as the “go green” resolves pick pace, they will drive the ultracapacitors market in various parts of the part for both, the manufacturers and buyers.
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In terms of geography, Asia Pacific was the biggest market share holder in the global ultracapacitors market in 2012. Some of the prominent regions in the Asia Pacific region that have made an indelible impact on the economy of ultracapacitors market are China, Australia, Japan, India, and Singapore. The leading manufacturer of ultracapacitors China as the government has been imposing strict regulatory norms pertaining to carbon emissions of vehicles. Ultracapacitors find an indispensable use in hybrid buses of China which is further fueling the growth of this market in the Asia Pacific region.
Some of the major companies making a difference in the global ultracapacitors market are Maxwell Technologies, Nesscap Co. Ltd. (South Korea), Panasonic, Maxwell Technologies (U.S.), VINATech (South Korea), Nippon Chemi-Con Corp. (Japan), LS Mtron (South Korea), Panasonic (Japan), Ioxus (U.S.), and SPS (China). Presently, Maxwell Technologies holds the largest market share in the global ultracapacitors market.
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