Superconductors Market
PUBLISHED: 2022 ID: SMRC21940
SHARE
SHARE

Superconductors Market

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
Loading...

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)

 

List of Figures

RESEARCH METHODOLOGY


Research Methodology

We at Stratistics opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.

Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.

Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.

Data Mining

The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.

Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.

Data Analysis

From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:

  • Product Lifecycle Analysis
  • Competitor analysis
  • Risk analysis
  • Porters Analysis
  • PESTEL Analysis
  • SWOT Analysis

The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.


Data Validation

The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.

We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.

The data validation involves the primary research from the industry experts belonging to:

  • Leading Companies
  • Suppliers & Distributors
  • Manufacturers
  • Consumers
  • Industry/Strategic Consultants

Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.


For more details about research methodology, kindly write to us at info@strategymrc.com

Frequently Asked Questions

In case of any queries regarding this report, you can contact the customer service by filing the “Inquiry Before Buy” form available on the right hand side. You may also contact us through email: info@strategymrc.com or phone: +1-301-202-5929

Yes, the samples are available for all the published reports. You can request them by filling the “Request Sample” option available in this page.

Yes, you can request a sample with your specific requirements. All the customized samples will be provided as per the requirement with the real data masked.

All our reports are available in Digital PDF format. In case if you require them in any other formats, such as PPT, Excel etc you can submit a request through “Inquiry Before Buy” form available on the right hand side. You may also contact us through email: info@strategymrc.com or phone: +1-301-202-5929

We offer a free 15% customization with every purchase. This requirement can be fulfilled for both pre and post sale. You may send your customization requirements through email at info@strategymrc.com or call us on +1-301-202-5929.

We have 3 different licensing options available in electronic format.

  • Single User Licence: Allows one person, typically the buyer, to have access to the ordered product. The ordered product cannot be distributed to anyone else.
  • 2-5 User Licence: Allows the ordered product to be shared among a maximum of 5 people within your organisation.
  • Corporate License: Allows the product to be shared among all employees of your organisation regardless of their geographical location.

All our reports are typically be emailed to you as an attachment.

To order any available report you need to register on our website. The payment can be made either through CCAvenue or PayPal payments gateways which accept all international cards.

We extend our support to 6 months post sale. A post sale customization is also provided to cover your unmet needs in the report.

Request Customization

We provide a free 15% customization on every purchase. This requirement can be fulfilled for both pre and post sale. You may send your customization requirements through email at info@strategymrc.com or call us on +1-301-202-5929.

Note: This customization is absolutely free until it falls under the 15% bracket. If your requirement exceeds this a feasibility check will be performed. Post that, a quote will be provided along with the timelines.

WHY CHOOSE US ?

Assured Quality

Assured Quality

Best in class reports with high standard of research integrity

24X7 Research Support

24X7 Research Support

Continuous support to ensure the best customer experience.

Free Customization

Free Customization

Adding more values to your product of interest.

Safe and Secure Access

Safe & Secure Access

Providing a secured environment for all online transactions.

Trusted by 600+ Brands

Trusted by 600+ Brands

Serving the most reputed brands across the world.

Testimonials