EV WORLDwire: Growth of Hybrid Cars to Drive Demand for Ultracapacitors

EV WORLDwire: Growth of Hybrid Cars to Drive Demand for Ultracapacitors: "Ultracapacitors, with their quick charging and discharging capabilities, are best-suited for short duration boost power applications in hybrid vehicles. Advancements in ultracapacitor technology are expected to displace the lithium-ion battery as the dominant automotive battery technology. The expected takeoff in hybrid electric vehicles sales will drive the demand for ultracapacitors in the automotive sector. Revenues from ultracapacitor applications in the transportation sector are expected to grow at a CAGR of 42.5% during the forecast period of six years, from 2009 to 2015. From 2010 onwards, in automotive sector applications, ultracapacitors are expected to experience an annual revenue growth of 50% or higher.

R&D initiatives for hybrid battery/fuel cell automobiles are gathering pace with automotive majors such as Honda and Toyota testing prototypes of hybrid fuel vehicles. Ultracapacitors, due to their higher energy efficiency and power density features, are ideally suited for fuel-cell based vehicles.

Utilities are looking for alternatives for battery banks as they move ahead with the modernization of the power grid. Battery banks have been the traditional choice of utilities for the short-term electricity supply needs during power outages. However, Utilities are increasingly using modern storage devices such as ultracapacitors to ensure the continuous supply of power during the period between a power blackout and the resumption of back-up power. The deployment of ultracapacitors in the power grid is expected to gain momentum with smart grid initiatives forging ahead in key economies of the globe.

The substantial increase in the peak power needs of modern vehicles, industrial applications, and consumer electronic gadgets is expected to offer opportunity for sales growth of ultracapacitors. Ultracapacitors provide quick, short-duration energy spurts for peak power applications such as elevators, forklifts, consumer electronic gadgets and robotics applications."