Global $9.5+ Billion Superconductors Markets to 2031 – Growing Demand for MRI Machines is expected to Drive Growth

DUBLIN, June 24, 2022 /PRNewswire/ — The “Global Superconductors Market Report 2022, by Type, by Material, by Product, by Application” report has been added to ResearchAndMarkets.com’s offering.

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Superconductors Global Market Report 2022 provides the strategists, marketers and senior management with the critical information they need to assess the global superconductors market.

The global superconductors market is expected to grow from $5.37 billion in 2021 to $6.54 billion in 2022 at a compound annual growth rate (CAGR) of 21.8%. The market is expected to reach $9.54 billion in 2026 at a CAGR of 9.9%.

Major players in the superconductors market are American Superconductor, Bruker, Furukawa Electric Co. Ltd., Southwire Company LLC., Sumitomo Electric Industries Ltd., Fujikura Ltd., Superconductor Technologies Inc., Cryomagnetics Inc., Deutsche Nanoschicht GmbH, and Japan Superconductor Technology Inc.

The superconductors market consists of sales of superconductors by entities (organizations, sole traders, and partnerships) that manufacture superconductors. A superconductor is a device that can transmit electricity or transfer electrons from one atom to another without resistance. Only goods and services traded between entities or sold to end consumers are included.

The main types of superconductors are type-I superconductor and type-II superconductor. Type I superconductors lose their superconductivity very quickly or abruptly when exposed to an external magnetic field. The materials used in superconductors are stainless steel, yttrium barium copper oxide, bismuth strontium calcium copper oxide and others to manufacture various products such as magnets, cables, transformers and energy storage devices. Semiconductors are used in energy, electronics, medical, research and development, industrial and other applications.

Europe was the largest region in the superconductors market in 2021. The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

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.

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 using 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 restraints the growth of the superconductors market.

Major companies working in the superconductor industry are focused on developing advanced technology solutions for superconductors. 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.

The countries covered in the superconductors market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA.

Key Topics Covered:

1. Executive Summary

2. Superconductors Market Characteristics

3. Superconductors Market Trends And Strategies

4. Impact Of COVID-19 On Superconductors

5. Superconductors Market Size And Growth
5.1. Global Superconductors Historic Market, 2016-2021, $ Billion
5.1.1. Drivers Of The Market
5.1.2. Restraints On The Market
5.2. Global Superconductors Forecast Market, 2021-2026F, 2031F, $ Billion
5.2.1. Drivers Of The Market
5.2.2. Restraints On the Market

6. Superconductors Market Segmentation
6.1. Global Superconductors Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

  • Type-I Superconductor
  • Type-II Superconductor

6.2. Global Superconductors Market, Segmentation By Material, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

  • Stainless Steel
  • Yttrium Barium Copper Oxide
  • Bismuth Strontium Calcium Copper Oxide
  • Other Materials

6.3. Global Superconductors Market, Segmentation By Product, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

  • Magnets
  • Cables
  • Transformers
  • Energy Storage Devices

6.4. Global Superconductors Market, Segmentation By Application, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

  • Energy
  • Electronics
  • Medical
  • Research and Development
  • Industrial
  • Other Applications

7. Superconductors Market Regional And Country Analysis
7.1. Global Superconductors Market, Split By Region, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
7.2. Global Superconductors Market, Split By Country, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion


 Companies Mentioned

  • American Superconductor
  • Bruker
  • 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 Dunnschichttechnik GmbH.
  • Toshiba Corporation
  • Evico Gmbh
  • Advanced Magnet Lab Inc.
  • Alstom
  • American Magnetics Inc.
  • ASG Superconductors Spa
  • Cryoelectra Gmbh
  • Cryoton Ltd.
  • Eriez Manufacturing Co.

For more information about this report visit https://www.researchandmarkets.com/r/ghbz6g

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