Worldwide sales of ultracapacitors will grow tenfold from just $28.2million in 2011 to $284.1 million by 2016, with cumulative revenue of$901.3 million during that period, according to a new market report.
With more than a 30-year history of development, the ultracapacitor isnot a new technology, but its utilization as a means for storing energyand delivering power is growing in several key application areas, PikeResearch said. The most popular segment today for ultracapacitor modules in the transportation market is for use in stop-start vehicles, andearly-stage applications for ultracapacitors also include grid-scaleenergy storage and wind turbines.
“Ultracapacitors’ greatest advantages over their primary competition,batteries, are superior cycle life and power density,” says senioranalyst John Gartner. “However, ultracapacitors are viewed as tooexpensive for most energy storage applications and the technology iscommonly viewed as not sufficiently mature for transportationapplications. That said, ultracapacitors are showing great promise inseveral niche applications, most notably the burgeoning market forstop-start vehicles.”
Gartner adds that the stop-start vehicle market is experiencing rapidgrowth in Europe due to tightening emissions reductions requirements for vehicles with diesel engines. Ultracapacitors have been tested in pilot projects in electric buses and fuel cell vehicles, though they are notbeing used commercially in large numbers in other transportation marketsegments.
Pike Research forecasts that ultracapacitor revenues in the stop-startvehicle segment will reach $355.5 million worldwide by 2020.
An Executive Summary of the report is available for free at the link below.