The Global Automotive Ultra-Capacitor Market is Driving on the Back of Growing Adoption of Electric Vehicles
The global automotive ultra-capacitor market is segmented into application such as brake regeneration, start-stop operation and active suspension. Among these segments, start-stop operation segment is believed to capture a notable CAGR by the end of 2024. The factors augmenting the demand for start-stop operation segment includes it reduce the fuel consumption and emission by shutting down and restarting the engine in stop and go traffic. Likely, growing penetration of electric vehicles over the globe is expected to flourish the growth of global automotive ultra-capacitor market. Global automotive ultra-capacitor market is anticipated to attain a remarkable CAGR of 18.3% over the forecast period i.e. 2017-2024. Additionally, the market is riding on the back of growing adoption of hybrid vehicles and electric vehicles for e.g. in 2016, according to International Energy Agency (IEA) around 2 million electric cars are on the road and 750 000 electric vehicles are sold globally in 2016...