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Manufacturers Exploring New Verticals to Drive Growth
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The ultracapacitor market faces challenges such as high prices and lack of adoption due to low awareness about the technology and its benefits. However, the market is growing led by keen interest for environmentally friendly alternatives to traditional energy storage methods. Ultracapacitors, which have high power density, provide ample energy storage for niche applications. A combination of primary and secondary research has been used. Primary research was conducted with manufacturers, distributors, and original equipment manufacturers (OEMs). Information provided through primary research was corroborated using secondary methods and in-house Frost & Sullivan resources. Final data was presented to an internal team for strategic review and suggestions. The study identifies drivers, restraints, and other macroeconomic factors influencing the ultracapacitor market. It has focused on three verticals - transportation, industrial, and consumer electronics. The base year is 2013 and the forecast period is from 2014 to 2020. Historical years are from 2010 through 2013.
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