The world market for Superconductors is projected to reach US$8.8 billion by the year 2017
MONTREAL, May 14, 2012 /ATR-Newswire/ ELECTRONICS.CA PUBLICATIONS, the electronics industry market research and knowledge network, announces the availability of a new report entitled "Superconductors - Global Strategic Business Report".
The world market for Superconductors is projected to reach US$8.8 billion by the year 2017. Growth will be primarily driven by encouraging technology developments and breakthroughs in applications in the power sector and the ensuing successful commercialization and widespread adoption of superconducting magnetic energy storage systems (SMES). Robust demand from Asian countries, particularly China, Korea and India, also augurs well for the market.
As a metallic alloy capable of allowing electrical current to flow through with zero loss of energy, superconductors represent an important electrical energy concept of utmost significance in the modern world. The importance of superconductors comes to the fore against the backdrop of growing focus on energy conversation, given the technology’s ability to revolutionize the world of electronics, power and transportation by enabling the development of energy efficient superconducting products/solutions. Superconductors have long been used widely in niche applications, such as, in healthcare (MRI imaging and Nuclear Magnetic Resonance (NMR)), medical instrumentation, research labs, wireless communications and computing.
In the upcoming years, growth will be driven by innovations and breakthroughs in the field of applied superconductivity in electric energy generation, transmission, transformation and storage. The market is poised to witness increased demand for superconductors in the manufacture of electric power equipment such as generators, transformers, motors, fault current limiters, energy storage and power cabling. High-temperature superconducting (HTS), in this regard, is poised to score the maximum gains, given its ability to enable the development of fault-tolerant transmission solutions. Against a backdrop of expanding utility applications of superconductors, upgradation and modernization of the electric utility infrastructure in both developed and developing countries will provide opportunities on a platter. Growing energy consumption, rising energy prices and subsequent need for sustainable energy production and energy conservation will also drive gains in the marketplace.
Given its proven ability in reducing resistance-based energy losses, which allows designers to create highly power-efficient and cost-effective devices, superconductors are also finding increased use in a growing base of superconductor electronic devices. For instance, high-temperature superconductor (HTS) filters are now being widely used in cellular communications systems, by virtue of their ability to enhance signal-to-noise ratios. Similarly, low temperature superconducting (LTS) chips are also forecast to find expanded application possibilities in numerous commercial and military applications.
The future of superconducting technology depends largely on continued government support for R&D projects geared at developing new superconducting materials. This is primarily because materials-based technology developments have higher risk levels and longer leads times running into 15 to 20 years and are massively capital and investment intensive. In the immediate future, growing awareness over the significant long term benefits offered by superconductors to society and businesses at large will however help increase tolerance for risk among venture capitalists, thus enabling the private sector to play a more stable and consistent role in project funding.
As stated by the market research report on Superconductors, Asia-Pacific is the most prominent regional market worldwide. Growth in the market is primarily driven by robust demand from industrialized countries such as China, India and Korea. High Temperature Superconductors (HTS) market represents the fastest growing product segment projected to wax at a CAGR of 28.1% over the analysis period.
Key players in the marketplace include American Superconductor Corporation, Bruker Energy & Supercon Technologies Inc.., Furukawa Electric Co., Ltd., Hyper Tech Research Inc., Japan Superconductor Technology Inc., and LS Cable Ltd., among others.
The research report provides a comprehensive review of industry outlook, overview, global research institutes, market trends, product overview, recent industry activity, and profiles of market players worldwide. Analysis and overview is presented for major geographic markets such as US, Japan, Europe (France, Germany, Italy, UK and Rest of Europe), Asia-Pacific and Rest of World. Market estimates and projections are provided in US$ million for product segments including Low Temperature Superconductors (LTS) and High Temperature Superconductors (HTS). The report also analyzes the market by end-use segments including Magnetic Resonance Imaging (MRI), R&D, Electronics, and Others.
Details of the new report, table of contents and ordering information can be found on Electronics.ca Publications' website. View the report: Superconductors - Global Strategic Business Report