Superconductor market worth $8,564.61 million, globally, by 2028 at a CAGR of 8.4%

Insight Partners

The Global Superconductors Market research report provides in-depth regional and country level analysis of 18+ countries in 5 key regions, 50+ key company profiles, detailed SWOT and PEST analysis, in-depth segmentation of the market and industry landscape to provide the latest market initiatives and competition. landscape, impact of the COVID-19 pandemic on the ecosystem.

New York, June 24, 2022 (GLOBE NEWSWIRE) — The Insight Partners has released the latest research study on “superconductor market Forecast to 2028 – Impact of COVID-19 and Global Analysis – By Type (Low-Temperature Superconductors and High-Temperature Superconductors) and Application (Medical, Electronics, Defense & Military, and Others), the global superconductor market is expected to reach US$8,564.61 million by 2028 from US$5,286.26 million in 2022; it is expected to grow at a CAGR of 8.4% from 2022 to 2028.

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Scope and Strategic Outlook of the Superconductor Market Report:

Report cover

Details

Market size Value in

US$5,286.26 million in 2022

Market Size Value by

$8,564.61 million by 2028

Rate of growth

CAGR of 8.4% from 2022 to 2028.

Forecast period

2022-2028

base year

2022

Number of pages

165

Number of tables

56

Number of graphs and figures

77

Historical data available

Yes

Segments Covered

type and application

Regional scope

North America; Europe; Asia Pacific; Latin America; AEM

Country scope

United States, United Kingdom, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina

Report cover

Revenue Forecast, Business Ranking, Competitive Landscape, Growth Factors and Trends

Superconductor Market: Competitive Landscape and Key Developments
Bruker Corporation, Furukawa Electric Co. Ltd. ; American Superconductor Society; Sumitomo Electric Industries, Ltd. ; and Hitachi Ltd. are some key players in the superconductor market. In addition, several other significant Superconductors market players have been researched and analyzed to get a comprehensive view of the global Superconductors market size and its ecosystem.

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In 2022, Cryomagnetics designed and produced the six 5 Tesla recondensation magnets that make up the Differential Pumping Section (DPS), as well as the “Pinch” and “Detector” magnets for this groundbreaking experiment.

In 2022, Hitachi developed a 1.1 m diameter superconducting magnesium diboride (MgB2) magnet that can rapidly generate a magnetic field gap as required for magnetic resonance imaging (MRI) examinations and demonstrated that MRI imaging of the head region can begin in 10 minutes from a zero-field state, compared to 1-2 hours with conventional equipment.

The term superconductor refers to materials that conduct electricity without resistance. These can carry energy for a continuous period without losing energy. Critical magnetic field, heat capacity, critical temperature and critical current density are all physical parameters of superconducting materials. Depending on the type of superconducting material, these qualities may differ. However, qualities such as resistivity are not affected by the substance. The medical sector has changed with the introduction of Magnetic Resonance Imaging (MRI) equipment that uses superconducting materials. Other industries that have benefited significantly from superconductors include transportation, military, electronics, and electric utilities. The growing applications of superconductors will help increase the penetration rate of superconductors, and hence fuel the market size of superconductors.

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Due to the growth in the medical industry, the demand for superconducting materials is expected to increase significantly over the forecast period. Superconductors have a wide range of applications in MRI technology. This technology trend is expected to continue beyond the forecast period, indicating that the market for superconducting materials is promising. Furthermore, one of the major reasons for the growth of the superconductor market is the growing need for high efficiency electric motors.

Superconductor market: impact of COVID-19
The COVID-19 pandemic has negatively hampered the market share of superconductors in a global semiconductor industry due to considerable disruption in supply chain activities and closure of several countries from their international trade at the aftermath of the pandemic. Due to the pandemic, various industries were in decline in 2020. The shutdowns impacted global manufacturing sectors. The global lockdown aimed at minimizing transmission of the virus has significantly disrupted supply chain activities and reduced the production of raw materials, goods and services. In addition, there were restrictions on foreign trade due to closed international borders, non-operational distribution channels, and various government standards to take precautionary measures for public health and safety.

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Since the onset of the COVID-19 outbreak, the superconductor market has impacted the manufacturing component of superconductors globally. Additionally, this outbreak has severely hampered the shipping and shipping industries as their workforces have been shut down for safety reasons and to prevent the spread of COVID-19. Companies operating in the superconductor market have had to make tough choices in the supply chain during the pandemic and post-pandemic recovery period. Since some companies regulating the superconductor market have been severely affected, this has further had a slightly negative effect on the growth of the superconductor market.

Superconductor Market: Application Overview
Based on application, the superconductor market is segmented into medical, electronics, military and defense, and others. The medical sector dominated the application segment in the superconductor market in 2021 and is expected to grow at the fastest CAGR over the forecast period in the superconductor market share. Magnetic resonance imaging (MRI) in strong magnetic fields, where 1.5 to 3T (7T for research) homogeneous high field superconducting magnets are used, and passive, non-invasive measurement, mapping and assessment Extremely weak biomagnetic fields, which originate from various organs in humans and animals, are the two most common applications of superconductivity in medicine. Very sensitive SQUIDs (Superconducting Quantum Interference Devices) can be used as detectors to measure such fields.

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In modern medical technology, superconductivity is becoming increasingly relevant. Compact superconducting cyclotrons are gaining popularity as efficient tools for external proton and carbon ion beam therapy, as well as cost and size reductions in isotope manufacturing. Isocentric gantries with superconducting magnets are smaller and lighter than conventional gantries. Superconducting magnets have been essential for the effective clinical use of magnetic resonance imaging in diagnostic imaging.

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About Us:
The Insight Partners is an industry-unique research provider of actionable intelligence. We help our clients find solutions to their research needs through our syndicated research and advisory services. We specialize in industries such as Semiconductors and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Health IT, Manufacturing and Construction, Medical Devices , technology, media and telecommunications, chemicals and materials.

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If you have any questions about this report or would like further information, please contact us:

Contact person: Sameer Joshi
Email: [email protected]
Phone: +1-646-491-9876
Press release: https://www.theinsightpartners.com/pr/superconductors-market

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