The North America Supercapacitor Market would witness market growth of 13.6% CAGR during the forecast period (2022-2028).
Rising government regulations and demand for renewable energy sources are anticipated to promote market expansion. Governments have established policies that support ecologically friendly and fuel-efficient modes of transportation as a result of the long-term rise in gasoline prices.
The automobile industry's widespread use of these capacitors is boosting the country's market expansion. For a smooth charge/discharge cycle needed for on/off switching in the car, they are widely employed in vehicles. Accordingly, a shift in consumer demands in favor of electric as well as hybrid electric (HEV) vehicles is advantageous to market expansion. Another aspect spurring growth is the utility industry's rising demand for electrical components.
The expansion of the market in the North America region is anticipated to be fueled by increasing new construction and rising worldwide demand for electricity consumption. Increased population expansion will be supported by new infrastructure built in response to rapid urbanization. In the region, various launches of unique products are being conducted for various automotive applications. The outlook for the regional automotive industry includes information on the region's rising demand for passenger cars, trucks, and two-wheelers as well as investments made by OEMs to establish a presence there.
The US market dominated the North America Supercapacitor Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $200.1 million by 2028. The Canada market is poised to grow at a CAGR of 16.2% during (2022 - 2028). Additionally, The Mexico market would witness a CAGR of 15.2% during (2022 - 2028).
Based on Type, the market is segmented into Double Layered Capacitors, Pseudo capacitors and Hybrid Capacitors. Based on Application, the market is segmented into Automotive, Consumer Electronics, Energy, Industrial, Aerospace, Medical and Others. 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.
Free Valuable Insights: The Global Supercapacitor Market is Estimated to reach $952.9 Million by 2028, at a CAGR of 14.3%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Panasonic Corporation, Eaton Corporation PLC, Cornell Dubilier Electronics, Inc., CAP-XX Ltd, Nippon Chemi-Con Corp., Ioxus (XS Power Batteries), Kilowatt labs, Inc., Targray Technology International Inc., and Skeleton Technologies.
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