Dublin, July 17, 2024 (GLOBE NEWSWIRE) -- The "Superconductors - Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
The global market for Superconductors is estimated at US$10.4 Billion in 2023 and is projected to reach US$19.6 Billion by 2030, growing at a CAGR of 9.5% from 2023 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions.
The growth in the superconductors market is driven by several factors. Technological advancements have led to the development of high-temperature superconductors, which can function at more practical and economically feasible temperatures, thereby broadening their range of applications and reducing operational costs. Increasing investments in infrastructure projects, especially in the energy and transportation sectors, are propelling the demand for superconducting materials.
The expansion of the healthcare industry, particularly in developing countries, is driving the need for advanced MRI systems and other medical equipment that utilize superconductors. As healthcare infrastructure improves and access to advanced diagnostic tools becomes more widespread, the demand for superconducting technologies in medical applications is set to rise.
Furthermore, the global push for more efficient and sustainable energy solutions is boosting the adoption of superconducting technologies in power grids and renewable energy systems. Superconductors enable the efficient transmission of electricity over long distances and the integration of renewable energy sources into the grid, addressing some of the key challenges in modern energy distribution.
The growing interest in research and development of quantum computing and advanced scientific instruments is also a significant factor contributing to market growth. Quantum computing, which relies on the principles of quantum mechanics, requires superconducting materials to build qubits, the fundamental units of quantum information. As research in quantum computing progresses, the demand for superconductors is expected to increase.
Key Insights:
- Market Growth: Understand the significant growth trajectory of the Low & Medium Temperature Superconductors segment, which is expected to reach US$10.6 Billion by 2030 with a CAGR of a 9.0%. The High Temperature Superconductors segment is also set to grow at 10.1% CAGR over the analysis period.
- Regional Analysis: Gain insights into the U.S. market, estimated at $2.8 Billion in 2023, and China, forecasted to grow at an impressive 8.9% CAGR to reach $3.0 Billion by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.
Report Features:
- Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2023 to 2030.
- In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
- Company Profiles: Coverage of major players such as American Superconductor Corporation, Bruker Corporation, Ceraco Ceramic Coating GmbH, and more.
- Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 184 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value (USD) in 2023 | $10.4 Billion |
| Forecasted Market Value (USD) by 2030 | $19.6 Billion |
| Compound Annual Growth Rate | 9.5% |
| Regions Covered | Global |
MARKET OVERVIEW
- Influencer Market Insights
- Global Economic Update
- Superconductors - Global Key Competitors Percentage Market Share in 2024 (E)
- Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2024 (E)
MARKET TRENDS & DRIVERS
- High-Temperature Superconductors Expand Addressable Market Opportunity
- Advancements Propel Growth in Superconducting Applications
- Increasing Investments in Energy Infrastructure Drives Adoption of Superconductors
- Rising Demand for Efficient Power Transmission Spurs Market Growth
- Advances in Medical Imaging Technologies Strengthen Business Case for Superconductors
- Expansion of Maglev Transportation Systems Generates Demand for Superconducting Materials
- Innovations in Particle Accelerators and Fusion Reactors Propel Growth in Scientific Research
- Development of Quantum Computing Drives Demand for Superconductors
- Growth in Renewable Energy Integration Expands Market Reach for Superconductors
- Increasing Use in High-Performance Materials Generates New Opportunities
- Emergence of Superconducting Technologies in Aerospace and Defense Sectors
- Advances in Cooling Technologies Ensures Cost Reduction and Efficiency
- Growing Emphasis on Sustainable and Green Technologies Strengthens Market Position
- Development of Custom and Application-Specific Superconductors Drives Adoption
- Evolution of Smart Grid Technologies Expands Market Applications
- Breakthroughs in Superconducting Magnet Technologies Accelerate Demand
FOCUS ON SELECT PLAYERS (Total 23 Featured)
- American Superconductor Corporation
- Bruker Corporation
- Ceraco Ceramic Coating GmbH
- Cryomagnetics Inc.
- Deutsche Nanoschicht GmbH
- Fujikura Ltd.
- Furukawa Electric Co. Ltd.
- Hyper Tech Research Inc.
- Japan Superconductor Technology Inc.
- LS Cable & System Ltd.
- Scientific Magnetics
- Southwire Company
- Sumitomo Electric Industries Ltd.
- Supercon Inc.
- Superconductor Technologies Inc.
- SuperOx
For more information about this report visit https://www.researchandmarkets.com/r/cfjqxf
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