The Latin America, Middle East and Africa Ultracapacitors/Supercapacitors Market would witness market growth of 21.3% CAGR during the forecast period (2024-2031).
The Brazil market dominated the LAMEA Ultracapacitors/Supercapacitors Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $387.9 million by 2031. The Argentina market is showcasing a CAGR of 22% during (2024 - 2031). Additionally, The UAE market would register a CAGR of 20.1% during (2024 - 2031).
A further factor that is contributing to the rise in demand for ultracapacitors is the growing emphasis placed on environmentally friendly technology and renewable energy sources. According to the IEA, the yearly capacity additions for renewable energy sources climbed by about fifty percent to nearly 510 gigawatts (GW) in 2023. This achievement is the highest growth rate in the last twenty years.
Ultracapacitors can play a critical role in stabilizing renewable energy systems by providing rapid bursts of power during periods of high demand or when the energy supply fluctuates due to weather conditions. For instance, ultracapacitors are already being used in wind turbines to smooth out the power output, helping to manage the variability in energy production and improve the system's overall efficiency. The increasing demand for ultracapacitors in these applications is anticipated to coincide with the expansion of the renewable energy sector.
Countries across this region are seeing increased production and consumption of consumer devices such as smartphones, laptops, and wearables, pushing manufacturers to adopt more advanced energy storage solutions like ultracapacitors. Governments in these nations are supporting the growth of their electronics industries through initiatives that encourage innovation, local production, and infrastructure development. Adopting ultracapacitors is vital in addressing consumer devices' demand for efficient, fast-charging, and long-lasting power sources. The tech-savvy population and the growing emphasis on locally produced products have made Brazil one of the largest markets in Latin America for smartphones and electronics. The Brazilian government’s National Strategy for Science, Technology, and Innovation encourages the technology sector's growth, which includes investments in energy storage solutions for electronics. Thus, as the market continues to grow, ultracapacitors are expected to play a critical role in meeting the energy storage needs of the rapidly evolving electronics sector across LAMEA.
Free Valuable Insights: The Worldwide Ultracapacitors/Supercapacitors Market is Projected to reach USD 18.3 Billion by 2031, at a CAGR of 18.7%
Based on Power, the market is segmented into 10 Volts to 25 Volts, 25 Volts to 50 Volts, Less than 10 Volts, 50 Volts to 100 Volts, and Above 100 Volts. Based on Type, the market is segmented into Double Layered Capacitors, Pseudocapacitors, and Hybrid Capacitors. Based on Application, the market is segmented into Automotive, Consumer Electronics, Energy, Industrial, Aerospace, Medical, and Other Application. Based on Electrode Material, the market is segmented into Carbon, Metal Oxide, Conducting Polymers, and Composites. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
By Power
By Type
By Application
By Electrode Material
By Country
Our team of dedicated experts can provide you with attractive expansion opportunities for your business.
Unique Offerings 