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Overview and Scope
A superconductor is a device that can transmit electricity or transfer electrons from one atom to another without resistance.
Sizing and Forecast
The superconductors market size has grown rapidly in recent years. It will grow from <b>$7.44 billion in 2023 to $8.26 billion in 2024 at a compound annual growth rate (CAGR) of 10.9%. </b> The growth in the historic period can be attributed to research and development, energy efficiency, medical imaging, particle accelerators, superconducting magnets.
The superconductors market size is expected to see rapid growth in the next few years. It will grow to <b>$12.83 billion in 2028 at a compound annual growth rate (CAGR) of 11.6%. </b> The growth in the forecast period can be attributed to renewable energy integration, quantum computing, high-speed transportation, smart grids, semiconductor industry.. Major trends in the forecast period include high-temperature superconductors (hts),cryogen-free superconducting systems, superconducting fault current limiters, space exploration, rising demand for smart devices.
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Segmentation & Regional Insights
The superconductors market covered in this report is segmented –
1) By Type: Type-I Superconductor, Type-II Superconductor
2) By Material: Stainless Steel, Yttrium Barium Copper Oxide, Bismuth Strontium Calcium Copper Oxide, Other Materials
3) By Product: Magnets, Cables, Transformers, Energy Storage Devices
4) By Application: Energy, Electronics, Medical, Research And Development, Industrial, Other Applications
<b>Europe</b> was the largest region in the superconductors market share in 2023. The regions covered in the superconductors market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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Major Driver Impacting Market Growth
The growing demand for MRI machines is expected to drive the growth of the superconductors market in the coming years. Magnetic resonance imaging, or MRI, employs strong superconducting magnets to generate large and even magnetic fields within the patient’s body. Magnetic Resonance Imaging (MRI) devices are an example of technology used to improve the precision of the diagnosis of health issues. According to the Health System Tracker, in 2020, the USA has 40.4 MRI machines per million people, considerably more than most comparably rich countries excluding Japan (55.2). Therefore, the growing demand for MRI machines drives the growth of the superconductors market.
Key Industry Players
Major companies operating in the superconductors market include <b> American Superconductor, Bruker Corporation., Furukawa Electric Co. Ltd., Southwire Company LLC., Sumitomo Electric Industries Ltd., Fujikura Ltd., Superconductor Technologies Inc., Cryomagnetics Inc., Deutsche Nanoschicht GmbH, Japan Superconductor Technology Inc., Supercon Inc., SuperOx, Ceraco Ceramic Coating GmbH, Hyper Tech Research Inc., LS Cable & System Ltd., Scientific Magnetics, Theva Dünnschichttechnik GmbH., Toshiba Corporation, Evico Gmbh, Advanced Magnet Lab Inc., Alstom SA, American Magnetics Inc., ASG Superconductors Spa, Cryoelectra Gmbh, Cryoton Ltd., Eriez Manufacturing Co., Siemens AG, ABB Group, SuperPower Inc., Nexans S.A., Oxford Instruments plc, Hypres Inc., General Electric Company, Mitsubishi Electric Corporation., Trivitron Healthcare, Magnatech LLC., Neocera LLC., Agilent Technologies, Northrop Grumman Corporation, SC Solutions Inc., Tokyo Denkai Co. Ltd. </b>
The superconductors market report table of contents includes:
1. Executive Summary
2. Superconductors Market Characteristics
3. Superconductors Market Trends And Strategies
4. Superconductors Market – Macro Economic Scenario
5. Global Superconductors Market Size and Growth
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26. South America Superconductors Market
27. Brazil Superconductors Market
28. Middle East Superconductors Market
29. Africa Superconductors Market
30. Superconductors Market Competitive Landscape And Company Profiles
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