Global market for ultracapacitors to grow at 22 percent CAGR over 2010-2014

DUBLIN, IRELAND: Research and Markets has announced the addition of the "Global Market for Ultracapacitors 2010-2014" report to its offering.

Research conducted by Technavio reveals, that the global Ultracapacitors market is expected to grow at a CAGR of 22 percent. The report, which focuses on Americas, EMEA and APAC indicates, that the market is currently driven by the growing demand for solar energy systems.

Solar energy is being widely accepted as an alternate source of energy. Ultracapacitors are used in solar energy systems as they can store large amounts of energy in a relatively small space. Given the increasing adoption of Ultracapacitors in solar panels, the growing demand for these panels will be a key driver for the Ultracapacitors market, reports Technavio analyst.

In spite of the need, concerns about overheating hinder the growth of this market. However, the increased demand from the electric vehicle market is expected to drive growth.

The global Ultracapacitors market is marked by steadily decreasing prices. This makes the study an important one for companies to fully understand the potential in the market and formulate its own strategy.

The report, Global Market for Ultracapacitors 2010-2014, is based on an extensive research from inputs by industry experts, vendors and end-users. It examines the factors including the key trends, drivers and challenges, impacting the evolution of this market. Further, it contains an in-depth understanding of the key vendors including their SWOT analysis.

TechNavio's analysts forecast the global market for Ultracapacitors to grow at a CAGR of 22 percent over the period of 2010-2014. One of the key factors contributing to this market growth is the demand for cost-effective fuel. The Ultracapacitors market has also been witnessing increasing awareness of electric vehicles. However, the lack of infrastructure could challenge the growth of this market.

Key vendors dominating this market space include Panasonic Electronic Devices, Maxwell Technologies, NIPPON CHEMI-CON, Nesscap Energy and batScap.