The North America Ultracapacitors/Supercapacitors Market is expected to 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 is expected to continue to be a dominant market till 2031; thereby, achieving a market value of $3.91 billion 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.
The US market dominated the North America Ultracapacitors/Supercapacitors Market by Country in 2023, and is expected to continue to be a dominant market till 2031; thereby, achieving a market value of $3.91 billion 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.
List of Key Companies Profiled
- Maxwell Technologies
- Skeleton Technologies
- NEC Corporation
- Panasonic Holdings Corporation
- Hitachi, Ltd. (Hitachi Energy Ltd.)
- Kemet Corporation
- Nichicon Corporation
- XS Power Batteries(Loxus)
- Eaton Corporation plc
- Sumitomo Corporation
Market Report Segmentation
By Power- 10 Volts to 25 Volts
- 25 Volts to 50 Volts
- Less than 10 Volts
- 50 Volts to 100 Volts
- Above 100 Volts
- Double Layered Capacitors
- Pseudocapacitors
- Hybrid Capacitors
- Automotive
- Consumer Electronics
- Energy
- Industrial
- Aerospace
- Medical
- Other Application
- Carbon
- Metal Oxide
- Conducting Polymers
- Composites
- US
- Canada
- Mexico
- Rest of North America
Table of Contents
Chapter 1. Market Scope & Methodology
Chapter 2. Market at a Glance
Chapter 3. Market Overview
Chapter 5. North America Ultracapacitors/Supercapacitors Market by Power
Chapter 6. North America Ultracapacitors/Supercapacitors Market by Type
Chapter 7. North America Ultracapacitors/Supercapacitors Market by Application
Chapter 8. North America Ultracapacitors/Supercapacitors Market by Electrode Material
Chapter 9. North America Ultracapacitors/Supercapacitors Market by Country
Chapter 10. Company Profiles
Companies Mentioned
Some of the key companies profiled in this North America Ultracapacitors/Supercapacitors Market include:- Maxwell Technologies
- Skeleton Technologies
- NEC Corporation
- Panasonic Holdings Corporation
- Hitachi, Ltd. (Hitachi Energy Ltd.)
- Kemet Corporation
- Nichicon Corporation
- XS Power Batteries(Loxus)
- Eaton Corporation plc
- Sumitomo Corporation
Methodology
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