The North America Ultracapacitors/Supercapacitors Market would witness market growth of 17.9% CAGR during the forecast period (2024-2031).
The US market dominated the North America Ultracapacitors/Supercapacitors Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $3,916.2 million by 2031. The Canada market is experiencing a CAGR of 19.3% during (2024 - 2031). Additionally, The Mexico market would exhibit a CAGR of 19.1% during (2024 - 2031).
This market has emerged as a critical component of the energy storage landscape, offering a unique solution to various power-related challenges across multiple industries. Also known as supercapacitors, ultracapacitors differ from traditional batteries because they store energy in an electric field rather than through chemical reactions.
One of the primary drivers of this market is their ability to complement or surpass traditional batteries in specific high-demand applications. Unlike lithium-ion batteries, which degrade over time due to chemical reactions, ultracapacitors have a much longer lifespan and can endure more charge and discharge cycles without significant wear.
Mexico’s growing automotive industry and its position as a major exporter of auto parts, including energy storage components, contribute significantly to the rising demand for ultracapacitors. The Mexican Automotive Industry Association (AMIA) highlights that Mexico is one of the largest auto parts producers globally, with much of its production exported to the United States. According to the International Trade Administration (ITA), Mexico produced 3.5 million vehicles annually, and 88% of these vehicles are exported. With the production of electric vehicles (EVs) and hybrids growing by 8.5% in 2022, ultracapacitors are increasingly being integrated into the energy systems of these vehicles to support rapid energy delivery and enhance overall vehicle performance. Hence, these trends are expected to continue throughout the forecast period, making the region a critical hub for ultracapacitor innovation and deployment.
Free Valuable Insights: The Ultracapacitors/Supercapacitors Market is Predict 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 U.S., Mexico, Canada, and Rest of North America.
By Power
By Type
By Application
By Electrode Material
By Country
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