Dublin, Oct. 13, 2023 (GLOBE NEWSWIRE) -- The "Superconducting Magnets - Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
Global Superconducting Magnets Market to Reach $4 Billion by 2030
The global market for Superconducting Magnets estimated at US$3.2 Billion in the year 2022, is projected to reach a revised size of US$4 Billion by 2030, growing at a CAGR of 2.9% over the analysis period 2022-2030.
The global market for superconducting magnets is currently experiencing steady growth, with a particular focus on applications in medical devices and equipment, as well as mass spectrometers. One key aspect of this growth is the segment related to medical devices and equipment, which is projected to achieve a Compound Annual Growth Rate (CAGR) of 3.2%.
This segment is expected to reach a market size of US$1.9 billion by the conclusion of the analysis period. The upward trajectory reflects the increasing utilization of superconducting magnets within medical devices and equipment, where these magnets can leverage their unique properties to enhance various applications.
Another prominent area of growth is the mass spectrometers segment, which is estimated to experience a CAGR of 3% over the next eight years. Mass spectrometry is a powerful analytical technique utilized in diverse fields such as chemistry, biology, and environmental science. Superconducting magnets play a pivotal role in elevating the performance of mass spectrometers, contributing to the growth of this segment.
In terms of regional trends, the United States is a significant player in the superconducting magnets market, with an estimated market value of US$620.1 million in 2022. Nevertheless, China is poised for robust growth, with a projected market size of US$999.9 million by 2030, driven by a CAGR of 3.7% during this period. Other regions, including Japan, Canada, and Germany, also exhibit positive growth trends in the superconducting magnets market.
It's worth noting that superconducting magnets find applications across a diverse range of industries beyond medical devices and mass spectrometers. They are deployed in transportation, research, and other sectors, capitalizing on their unique magnetic properties, which confer advantages in terms of energy efficiency and performance.
Overall, the market for superconducting magnets is dynamically evolving and expanding, encompassing various applications and regions, driven by the exceptional properties of superconductors and their ability to enhance the performance of various technologies and devices.
What`s New?
- Special discussions on the global economic climate and market sentiment
- Coverage on global competitiveness and key competitor percentage market shares
- Market presence analysis across multiple geographies - Strong/Active/Niche/Trivial
- Online interactive peer-to-peer collaborative bespoke updates
- Access to digital archives and trademarked research platform
- Complimentary updates for one year
- Access to curated YouTube video transcripts of market sentiments shared by CEOs, domain experts and market influencers via interviews, podcasts, press statements and event keynotes
MARKET OVERVIEW
- Impact of COVID-19 Pandemic and Looming Global Recession
- Living with COVID-19: The New Normal
- Stagflation and Risk of Recession: New Challenges Emerge for the Global Market in 2022 & 2023
- World Economic Growth Projections (Real GDP, Annual % Change) for the Years 2020, 2021, 2022 and 2023
- Pandemic Impact on Superconducting Magnets Market
- What is Superconductivity?
- Critical Temperatures of Select Superconductors
- An Introduction to Superconducting Magnets
- Major End-Use Applications of Superconducting Magnets
- Global Market Prospects & Outlook
- Medical Devices & Equipment Remain the Key Application Segment
- Asian Economies at the Forefront of Growth
- Competition
- Superconducting Magnets - Global Key Competitors Percentage Market Share in 2022 (E)
- Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)
- World Brands
- Recent Market Activity
MARKET TRENDS & DRIVERS
- Medical Devices Industry Continues to Stimulate Growth in Superconducting Magnets Market
- World Healthcare Expenditure (In US$ Billion) for the Years 2017-2023
- Global Aging Population Statistics for the 65+ Age Group in Million by Geographic Region for the Years 2019, 2025, 2035 and 2050
- Growing Applications in MRI Equipment
- Equipment Density Correlates With Number of Imaging Procedures: Magnetic Resonance Imaging (MRI) Units in Select Countries (Per Million Population): 2021
- Global MRI Market by Application (in %): 2022E
- Rising Cancer Incidence & Use of NMR Equipment in Cancer Therapy Drives Demand for Superconducting Magnets
- Global Cancer Incidence: Number of New Cancer Cases in Million for the Years 2018, 2020, 2025, 2030, 2035 and 2040
- Number of New Cancer Cases and Deaths (in Million) by Region for 2020
- Rising Significance of Superconducting Magnetic Energy Storage (SMES) Systems Supports Market Growth
- Role of Superconducting Magnets in Reducing Weight and Size of Wind Turbines Fuels Prospects
- Increase in Wind Power Deployments Present Opportunity for Superconducting Magnets: New Wind Power Installed Capacity (GW) for the Years 2012-2021
- Mass Spectrometers Market: High Growth Potential
- Global Mass Spectrometry Market Size (in US$ Billion) for the Years 2020, 2022, 2024 and 2026
- Transportation Sector Remains a Highly Promising Market for Semiconducting Magnets
- Maglev Technology to Radically Transform the World of Transportation
- Superconducting Magnets and Molecular Biology Open Up Opportunities in Drug Discovery Space
- Sophisticated High-Temperature Superconducting Magnets to Enable New Scientific and Industrial Applications
- Focus on Nuclear Fusion Research Augurs Well for the Market
- Powerful Superconducting Magnets for High-Energy Colliders
- Spectacular R&D Feats for Superconducting Magnets Accelerate Next Leap for Colliders
- Regional Efforts towards Magnet Development
- Superconducting Materials Present Numerous Opportunities and Challenges for Large-Scale Applications
- Focus on Unconventional Superconductivity Holds Potential for New Applications
- Next-Generation Superconductor Magnets Open Realms of Innovative Applications
- MIT and CFS Collaboration Develop New Superconducting Magnet for Fusion Energy
- Princeton Researchers Develop an Innovative Electromagnet for Fusion Energy
- Tokamak Energy Announces New Magnet Protection Technology
- SMARAGDI Wins Grant for Superconducting Magnet Technology
- Swedish Project Focuses on Developing Superconducting Magnets for Control of Charged Particles
- Chinese Researchers Develop New Superconducting Magnet for MRI System
- Researchers from MagLab Achieve Record Magnetic Field Intensity
- Researchers Develop and Demonstrate 32T Superconducting Magnet
- New Conducing Layer to Push Critical Temperature for Superconductivity
- Sophisticated 32T Superconducting Magnet to Open New Avenues in Technology
- Advances in Cryogenics and Superconducting Materials Enable Compact Magnets
- CERN Eyes on High-Field Superconducting Magnets for Novel Applications
- Superconducting Magnets to Find Use in Satellite Propulsion Systems
- Superconducting Transition Provides Opportunity to Exploit Quantum Information Technologies
FOCUS ON SELECT PLAYERS(Total 52 Featured)
- Agilent Technologies, Inc.
- Bruker Corporation
- Fujikura Ltd.
- American Magnetics, Inc.
- ASG Superconductors SpA
- Cryomagnetics, Inc.
- Elytt Energy
- Cryogenic Ltd.
- Advanced Magnet Lab, Inc.
- Bilfinger SE
- Bruker Energy & Supercon Technologies (BEST)
- CRYO Industries of America, Inc.
- Custom Coils
- Commonwealth Fusion
- CAEN ELS
For more information about this report visit https://www.researchandmarkets.com/r/7jm2af
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
