Categories: Market Research

Superconductors Market 2024 – Growth, Market Size, Analysis, Competitive Landscape | American Superconductor, Bruker Corporation., Furukawa Electric Co. Ltd., Southwire Company LLC., Sumitomo Electric Industries

The Superconductors Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

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According to The Business Research Company’s Superconductors Global Market Report 2024, The superconductors market size has grown rapidly in recent years. It will grow from $7.44 billion in 2023 to $8.26 billion in 2024 at a compound annual growth rate (CAGR) of 10.9%. 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 $12.83 billion in 2028 at a compound annual growth rate (CAGR) of 11.6%. 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..

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.

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The superconductors market covered in this report is segmented –
1) Superconductors Market By Type: Type-I Superconductor, Type-II Superconductor
2) Superconductors Market By Material: Stainless Steel, Yttrium Barium Copper Oxide, Bismuth Strontium Calcium Copper Oxide, Other Materials
3) Superconductors Market By Product: Magnets, Cables, Transformers, Energy Storage Devices
4) Superconductors Market By Application: Energy, Electronics, Medical, Research And Development, Industrial, Other Applications

Top Major Players

American Superconductor

Bruker Corporation.

Furukawa Electric Co. Ltd.

Southwire Company LLC.

Sumitomo Electric Industries

The high costs associated with superconducting products are expected to hamper the growth of the superconductors market in the forecast period. Superconducting magnets are electromagnets, constructed from superconducting wire coils, and are required to be cooled while used to lower temperatures. They can produce strong magnetic fields since the cable covering the magnet has no electrical resistance when the magnet is in its superconducting state. Although superconducting magnets are fantastic, they can be costly to operate due to the energy lost as heat in the windings. The cost of the semiconductor magnet ranges from $75 to $575 per kilogram depending on the manufacturer. Therefore, high-cost restrain the growth of the superconductors market.

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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31. Global Superconductors Market Competitive Benchmarking

32. Global Superconductors Market Competitive Dashboard

33. Key Mergers And Acquisitions In The Superconductors Market

34. Superconductors Market Future Outlook and Potential Analysis

35. Appendix