Superconductors Market
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PUBLISHED: 2022 ID: SMRC21940
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Superconductors Market Forecasts to 2028 - Global Analysis By Type (High Temperature Superconductors, Low and Medium Temperature Superconductors), Application (Magnetic Resonance Imaging , Research & Development) and By Geography

5.0 (15 reviews)
5.0 (15 reviews)
Published: 2022 ID: SMRC21940

This report covers the impact of COVID-19 on this global market
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Years Covered

2020-2028

Estimated Year Value (2022)

US $5,584.29 MN

Projected Year Value (2028)

US $10,110.73 MN

CAGR (2022 - 2028)

10.4%

Regions Covered

North America, Europe, Asia Pacific, South America, and Middle East & Africa

Countries Covered

US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa

Largest Market

North America

Fastest Growing Market

Asia Pacific


According to Stratistics MRC, the Global Superconductors Market is accounted for $5,584.29 million in 2022 and is expected to reach $10,110.73 million by 2028 growing at a CAGR of 10.4% during the forecast period. Superconductors are materials that permit the passage of electricity with zero resistance at their critical temperature. There is no loss of energy in the form of heat or sound if there is a zero resistance. It is not affected by external magnetic fields when in its superconducting state owing to the Meissner effect, which is a unique property exhibited by them. The demand for superconductors has been growing quickly owing to their extensive adoption in different applications in the medical and industrial sectors.

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.For instance, in June 2020, Festo, a German-based industrial control and automation company introduced a lab automation superconductor device that transfers materials without touching. The company stated that its SupraModule design that allows wireless control of operations with an autonomous energy generation on a magnetic, floating carrier.



Market Dynamics:

Driver:

Rising demand for electric motors

Electric motors are primarily used in applications such as compressors, fans, elevators, and pumps. Increasing consumption of electricity due to growing populations is projected to propel the market growth. Superconducting materials enhance the efficiency of electric motors and thus growing demand for electric motors is expected to augment the market growth of the superconducting materials.

Restraint:

High cost

The high manufacturing cost of it and lack of standard testing facility is anticipated to hamper the market growth. The high operating cost at low voltage (power distribution) is restraining the acceptance of superconducting materials. This is expected to hinder the market growth over the forecast period.

Opportunity:

Usage in numerous applications

As it has zero resistance owing to which it is used in various applications. It has released no heat, sound, and other elements. Due to this, it has been extensively applied in generators, motors, and power transmission lines. The superconductors are also capable of transmitting electricity. It is assumed that its densities are 7 times more than the copper lines of transmission. They are also capable of increasing powers without the application of higher voltages. Moreover, over the years there has been an increasing need for transportation, medical, and industrial processing. Due to these manufacturers in the superconductor wire industry can reap various market opportunities.

Threat:

Restriction on trade

There were restrictions on foreign trades owing to the closure of international borders, non-operational distribution channels, and various government norms to take precautionary measures for public health and safety. This is one of the factors threating the market growth.

The onset of the COVID-19 pandemic led to raw material supply chain disruptions in the initial phase of the pandemic. As a result, the market players witnessed a slowdown in production. However, by mid-2020, the companies overcame these challenges through several initiatives such as strategic partnerships and contract acquisitions. The COVID-19 pandemic negatively hampered the market share in an overall semiconductor industry due to considerable disruption in the supply chain activities and several countries sealing off their international trade in the wake of the pandemic.

The medical segment is expected to be the largest during the forecast period

The medical segment is expected to be the largest during the forecast period, owing to the rising demand for MRI and NMR devices from the medical field is the biggest driving factor of superconducting materials. The increasing health standards and awareness in numerous countries are contributing to the growth of the market. The increase in the use of superconducting materials in medical technology is set to drive the demand for the market.

The High Temperature Superconductorssegment is expected to have the highest CAGR during the forecast period

The High Temperature Superconductors segment is expected to have the highest CAGR during the forecast period, As high-temperature semiconductors need cheaper cryogenic systems for cooling the wire to attain superconductivity and are used for induction heater magnets. The technological applications of high-temperature superconducting materials in niche application areas such as bio magnetism and bullet train manufacturers are increasing the demand for high-temperature superconductors.

Region with highest share:

North America is projected to hold the largest market share during the forecast period. TThe province has experienced a significant increase in medical infrastructure investment and the procurement of medical equipment across these infrastructures. Thus, the rising demand for magnetic resonance imaging (MRI) equipment across the province is predictable to impact the demand for superconductors among medical device manufacturers directly. Moreover, countries such as the US and Canada have experienced a rise in military expenditure over the last five years, influencing the demand for power railguns and coil guns. Defense manufacturers are highly adopting superconductors to increase the resistance and efficiency of weapons. Thus, the rise in demand for power railguns and coil guns across the region is further expected to contribute to the North American superconductor’s market growth.

Region with highest CAGR:

Asia Pacific is projected to have the highest CAGR over the forecast period countries such as China, India, and Malaysia have increased spending on developing and modernizing their medical infrastructure. This positively impacts the demand for superconductors across the province from the medical device manufacturers. This rise in military spending is used in procuring advanced weapons for their defense forces. China has been actively investing in developing advanced rail guns, which is expected to propel the demand for the market across the country.



Key players in the market

Some of the key players profiled in the SuperconductorsMarket include Superconductors market include Furukawa Electric Co., Ltd., Toshiba Corporation, Fujikura Ltd.,Superconductor Technologies Inc., Bruker Corporation, American Superconductor Corporation, ThevaDünnschichttechnik GmbH, Sumitomo Electric Industries, Ltd., Supercon Inc., Evico GmbH, Superox, Japan Superconductor Technology, Inc., Hyper Tech Research, Inc., Deutsche NanoschichtGmbh and Conductus, Inc, Hitachi,Ltd.

Key Developments:

In 2021: Hitachi,Ltd. Has announced that it had developed a 1.1-m-diameter magnesium diboride (MgB2) superconducting magnet that can rapidly generate a magnetic field space as required for magnetic resonance imaging (MRI) examinations and has demonstrated that MRI imaging of the head region can begin in 10 minutes from a zero-field state, compared to 1 to 2 hours using conventional equipment.

In July 2019: Fujikura Ltd. announced successful development of novel technology for mass production of world’s highest performance second generation rare earth high temperature superconducting wires.

Types Covered:
• High Temperature Superconductors
• Low and Medium Temperature Superconductors

Applications Covered:
• Magnetic Resonance Imaging
• Research & Development
• Energy
• Electronics
• Computer
• Generator
• Conductive Material
• Medical

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025 and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances

Table of Contents

1 Executive Summary

2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions

3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Application Analysis
3.7 Emerging Markets
3.8 Impact of Covid-19

4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry

5 Global Superconductors Market, By Type
5.1 Introduction
5.2 High Temperature Superconductors
5.2.1 Second Generation HT Superconductors
5.2.2 First Generation HT Superconductors
5.3 Low and Medium Temperature Superconductors

6 Global Superconductors Market, By Application
6.1 Introduction
6.2 Magnetic Resonance Imaging
6.3 Research & Development
6.4 Energy
6.5 Electronics
6.6 Computer
6.7 Generator
6.8 Conductive Material
6.9 Medical

7 Global Superconductors Market, By Geography
7.1 Introduction
7.2 North America
7.2.1 US
7.2.2 Canada
7.2.3 Mexico
7.3 Europe
7.3.1 Germany
7.3.2 UK
7.3.3 Italy
7.3.4 France
7.3.5 Spain
7.3.6 Rest of Europe
7.4 Asia Pacific
7.4.1 Japan
7.4.2 China
7.4.3 India
7.4.4 Australia
7.4.5 New Zealand
7.4.6 South Korea
7.4.7 Rest of Asia Pacific
7.5 South America
7.5.1 Argentina
7.5.2 Brazil
7.5.3 Chile
7.5.4 Rest of South America
7.6 Middle East & Africa
7.6.1 Saudi Arabia
7.6.2 UAE
7.6.3 Qatar
7.6.4 South Africa
7.6.5 Rest of Middle East & Africa

8 Key Developments
8.1 Agreements, Partnerships, Collaborations and Joint Ventures
8.2 Acquisitions & Mergers
8.3 New Product Launch
8.4 Expansions
8.5 Other Key Strategies

9 Company Profiling
9.1 Furukawa Electric Co., Ltd.
9.2 Toshiba Corporation
9.3 Fujikura Ltd.
9.4 Superconductor Technologies Inc.
9.5 Bruker Corporation
9.6 American Superconductor Corporation
9.7 Theva Dünnschichttechnik GmbH
9.8 Sumitomo Electric Industries, Ltd.
9.9 Supercon Inc.
9.10 Evico GmbH
9.11 Hitachi,Ltd
9.12 Japan Superconductor Technology, Inc.
9.13 Hyper Tech Research, Inc.
9.14 Deutsche Nanoschicht Gmbh
9.15 Conductus, Inc.

List of Tables
1 Global Superconductors Market Outlook, By Region (2020-2028) (US $MN)
2 Global Superconductors Market Outlook, By Type (2020-2028) (US $MN)
3 Global Superconductors Market Outlook, By High Temperature Superconductors (2020-2028) (US $MN)
4 Global Superconductors Market Outlook, By Second Generation HT Superconductors (2020-2028) (US $MN)
5 Global Superconductors Market Outlook, By First Generation HT Superconductors (2020-2028) (US $MN)
6 Global Superconductors Market Outlook, By Low and Medium Temperature Superconductors (2020-2028) (US $MN)
7 Global Superconductors Market Outlook, By Application (2020-2028) (US $MN)
8 Global Superconductors Market Outlook, By Magnetic Resonance Imaging (2020-2028) (US $MN)
9 Global Superconductors Market Outlook, By Research & Development (2020-2028) (US $MN)
10 Global Superconductors Market Outlook, By Energy (2020-2028) (US $MN)
11 Global Superconductors Market Outlook, By Electronics (2020-2028) (US $MN)
12 Global Superconductors Market Outlook, By Computer (2020-2028) (US $MN)
13 Global Superconductors Market Outlook, By Generator (2020-2028) (US $MN)
14 Global Superconductors Market Outlook, By Conductive Material (2020-2028) (US $MN)
15 Global Superconductors Market Outlook, By Medical (2020-2028) (US $MN)
16 North America Superconductors Market Outlook, By Region (2020-2028) (US $MN)
17 North America Superconductors Market Outlook, By Type (2020-2028) (US $MN)
18 North America Superconductors Market Outlook, By High Temperature Superconductors (2020-2028) (US $MN)
19 North America Superconductors Market Outlook, By Second Generation HT Superconductors (2020-2028) (US $MN)
20 North America Superconductors Market Outlook, By First Generation HT Superconductors (2020-2028) (US $MN)
21 North America Superconductors Market Outlook, By Low and Medium Temperature Superconductors (2020-2028) (US $MN)
22 North America Superconductors Market Outlook, By Application (2020-2028) (US $MN)
23 North America Superconductors Market Outlook, By Magnetic Resonance Imaging (2020-2028) (US $MN)
24 North America Superconductors Market Outlook, By Research & Development (2020-2028) (US $MN)
25 North America Superconductors Market Outlook, By Energy (2020-2028) (US $MN)
26 North America Superconductors Market Outlook, By Electronics (2020-2028) (US $MN)
27 North America Superconductors Market Outlook, By Computer (2020-2028) (US $MN)
28 North America Superconductors Market Outlook, By Generator (2020-2028) (US $MN)
29 North America Superconductors Market Outlook, By Conductive Material (2020-2028) (US $MN)
30 North America Superconductors Market Outlook, By Medical (2020-2028) (US $MN)
31 Europe Superconductors Market Outlook, By Region (2020-2028) (US $MN)
32 Europe Superconductors Market Outlook, By Type (2020-2028) (US $MN)
33 Europe Superconductors Market Outlook, By High Temperature Superconductors (2020-2028) (US $MN)
34 Europe Superconductors Market Outlook, By Second Generation HT Superconductors (2020-2028) (US $MN)
35 Europe Superconductors Market Outlook, By First Generation HT Superconductors (2020-2028) (US $MN)
36 Europe Superconductors Market Outlook, By Low and Medium Temperature Superconductors (2020-2028) (US $MN)
37 Europe Superconductors Market Outlook, By Application (2020-2028) (US $MN)
38 Europe Superconductors Market Outlook, By Magnetic Resonance Imaging (2020-2028) (US $MN)
39 Europe Superconductors Market Outlook, By Research & Development (2020-2028) (US $MN)
40 Europe Superconductors Market Outlook, By Energy (2020-2028) (US $MN)
41 Europe Superconductors Market Outlook, By Electronics (2020-2028) (US $MN)
42 Europe Superconductors Market Outlook, By Computer (2020-2028) (US $MN)
43 Europe Superconductors Market Outlook, By Generator (2020-2028) (US $MN)
44 Europe Superconductors Market Outlook, By Conductive Material (2020-2028) (US $MN)
45 Europe Superconductors Market Outlook, By Medical (2020-2028) (US $MN)
46 Asia Pacific Superconductors Market Outlook, By Region (2020-2028) (US $MN)
47 Asia Pacific Superconductors Market Outlook, By Type (2020-2028) (US $MN)
48 Asia Pacific Superconductors Market Outlook, By High Temperature Superconductors (2020-2028) (US $MN)
49 Asia Pacific Superconductors Market Outlook, By Second Generation HT Superconductors (2020-2028) (US $MN)
50 Asia Pacific Superconductors Market Outlook, By First Generation HT Superconductors (2020-2028) (US $MN)
51 Asia Pacific Superconductors Market Outlook, By Low and Medium Temperature Superconductors (2020-2028) (US $MN)
52 Asia Pacific Superconductors Market Outlook, By Application (2020-2028) (US $MN)
53 Asia Pacific Superconductors Market Outlook, By Magnetic Resonance Imaging (2020-2028) (US $MN)
54 Asia Pacific Superconductors Market Outlook, By Research & Development (2020-2028) (US $MN)
55 Asia Pacific Superconductors Market Outlook, By Energy (2020-2028) (US $MN)
56 Asia Pacific Superconductors Market Outlook, By Electronics (2020-2028) (US $MN)
57 Middle East & Africa Superconductors Market Outlook, Computer (2020-2028) (US $MN)
58 Middle East & Africa Superconductors Market Outlook, Generator (2020-2028) (US $MN)
59 Middle East & Africa Superconductors Market Outlook, Conductive Material (2020-2028) (US $MN)
60 Asia Pacific Superconductors Market Outlook, By Medical (2020-2028) (US $MN)
61 South America Superconductors Market Outlook, By Region (2020-2028) (US $MN)
62 South America Superconductors Market Outlook, By Type (2020-2028) (US $MN)
63 South America Superconductors Market Outlook, By High Temperature Superconductors (2020-2028) (US $MN)
64 South America Superconductors Market Outlook, By Second Generation HT Superconductors (2020-2028) (US $MN)
65 South America Superconductors Market Outlook, By First Generation HT Superconductors (2020-2028) (US $MN)
66 South America Superconductors Market Outlook, By Low and Medium Temperature Superconductors (2020-2028) (US $MN)
67 South America Superconductors Market Outlook, By Application (2020-2028) (US $MN)
68 South America Superconductors Market Outlook, By Magnetic Resonance Imaging (2020-2028) (US $MN)
69 South America Superconductors Market Outlook, By Research & Development (2020-2028) (US $MN)
70 South America Superconductors Market Outlook, By Energy (2020-2028) (US $MN)
71 South America Superconductors Market Outlook, By Electronics (2020-2028) (US $MN)
72 Middle East & Africa Superconductors Market Outlook, Computer (2020-2028) (US $MN)
73 Middle East & Africa Superconductors Market Outlook, Generator (2020-2028) (US $MN)
74 Middle East & Africa Superconductors Market Outlook, Conductive Material (2020-2028) (US $MN)
75 South America Superconductors Market Outlook, By Medical (2020-2028) (US $MN)
76 Middle East & Africa Superconductors Market Outlook, By Region (2020-2028) (US $MN)
77 Middle East & Africa Superconductors Market Outlook, By Type (2020-2028) (US $MN)
78 Middle East & Africa Superconductors Market Outlook, By High Temperature Superconductors (2020-2028) (US $MN)
79 Middle East & Africa Superconductors Market Outlook, By Second Generation HT Superconductors (2020-2028) (US $MN)
80 Middle East & Africa Superconductors Market Outlook, By First Generation HT Superconductors (2020-2028) (US $MN)
81 Middle East & Africa Superconductors Market Outlook, By Low and Medium Temperature Superconductors (2020-2028) (US $MN)
82 Middle East & Africa Superconductors Market Outlook, By Application (2020-2028) (US $MN)
83 Middle East & Africa Superconductors Market Outlook, By Magnetic Resonance Imaging (2020-2028) (US $MN)
84 Middle East & Africa Superconductors Market Outlook, By Research & Development (2020-2028) (US $MN)
85 Middle East & Africa Superconductors Market Outlook, By Energy (2020-2028) (US $MN)
86 Middle East & Africa Superconductors Market Outlook, By Electronics (2020-2028) (US $MN)
87 Middle East & Africa Superconductors Market Outlook, Computer (2020-2028) (US $MN)
88 Middle East & Africa Superconductors Market Outlook, Generator (2020-2028) (US $MN)
89 Middle East & Africa Superconductors Market Outlook, Conductive Material (2020-2028) (US $MN)
90 Middle East & Africa Superconductors Market Outlook, By Medical (2020-2028) (US $MN)

 

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