According to the research report titled ‘Global Automotive Ultra-Capacitor Market Size study, by Application (Start-stop Operation, Regenerative Braking System, Others), by Vehicle Type (Passenger Car, Commercial Vehicles) and Regional Forecasts 2020-2027’, available with Market Study Report, global automotive ultra-capacitor market is predicted to register 5.5% CAGR over 2020-2027.
 

As per the report findings, increasing production and sale of commercial and passenger vehicles, growing environmental concerns, and rising penetration of hybrid and electric cars are warranting global automotive ultra-capacitor market growth. Moreover, growing efforts towards reducing overall carbon footprint are positively swaying the industry dynamics.
 

For those unaware, automotive ultra-capacitors refer to the primary energy source in automobiles which provide rapid bursts of energy during peak power requirements. They are typically outfitted into vehicles for enabling the start-stop function which essentially shuts the engine off when the during a stop and starts it when the brake is released.
 

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Ultra-capacitors enhance fuel-efficiency, extend battery life, and facilitate higher power consumption by the engine, which in turn is stimulating product demand. Apart from this, the remuneration scope of global automotive ultra-capacitor market is further increasing as preferences of vehicle manufacturers are shifting towards these capacitors from conventional batteries, due to their environmental-friendly nature and comparatively lesser weight.
 

Speaking of the restraints, high costs of automotive ultra-capacitor is expected to impede market growth over the forecast period.
 

From a geographical perspective, North America, Asia-Pacific, Latin America, and Europe are the prominent contributors of global automotive ultra-capacitor market value. Among these, the Europe marketplace captures a significant portion of the overall market share and is set to showcase strong growth trends throughout 2020-2027. Strong presence of leading market vendors and surging demand for premium electric vehicles are propelling the regional industry growth.
 

Meanwhile, Asia-Pacific automotive ultra-capacitor market is touted to amass substantial returns over 2020-2027, owing to imposition of stringent government regulations regarding emission and vehicle safety, along with increasing production of luxury cars and passenger vehicles in developing countries like China and India.
 

Leading companies operating in this business space are Skeleton Technologies OÜ, Maxwell Technologies, Inc., Panasonic Corp., Nichicon Corp., Nippon Chemi-Con Corp., Nesscap Co., Ltd., Hitachi AIC, Inc., Ioxus, Inc., Elna America, Inc., and Yunasko Ltd.