Extensive Usage in MRI & NMR, Electronics, and R&D Sectors Drives the Global Superconductors Market

ELECTRONICS.CA PUBLICATIONS announces the availability of a comprehensive global report on Superconductors market. Global market for Superconductors is projected to exceed US$8.8 billion by 2020, driven by its extensive usage in MRI, electronics, science and R&D areas for developing environment-friendly and energy efficient solutions.

As a metallic alloy capable of allowing electrical current to flow through with zero loss of energy, superconductors represent an important electrical energy concept with utmost significance in the modern world. Superconductivity technology has been playing a vital role in the process of scientific research for applications in various commercial sectors. Superconducting materials are currently being widely used in MRI & Nuclear Magnetic Resonance (NMR), electronics, science and R&D areas for developing environment-friendly, and energy efficient solutions. However, the industry is presently focusing on developing new materials and designing new systems for expanding application possibilities for superconductors.

Low Temperature Superconductors (LTS) are the original form of superconductors that generally refer to Niobium-based alloy superconductors. These superconductors hold significant position in the global markets for various applications. Low Temperature Superconductors are also referred to as Technical Superconductors due to their applicability in engineering tasks. High Temperature Superconductors (HTS) offer ultra-low resistance instead of zero resistance. Superconductors market is poised to witness increased demand in the manufacture of electric power equipment such as generators, transformers, motors, fault current limiters (FCLs), energy storage and power cabling. HTS, in this regard, is poised to score the maximum gains, given its ability to enable the development of fault-tolerant transmission solutions.

MRI represents the most dominant end-use sector for the global superconductors market. In MRI equipment, superconducting magnets have been replacing copper magnets, because of the need for a strong magnetic field as well as stable image quality. Superconductor usage in MRI equipment] is expected to witness healthy growth, largely driven by the advancements in MRI technology and usage of MRI in newer applications such as identification of multiple sclerosis and Alzheimer’s disease, among others. There is high demand for superconducting wire in accelerators, where they are utilized in magnets for bending and focusing the particle beam and in detectors for separating the collision fragments. The use of superconductors in computers has the potential of substantially improving the performance, capacity, and speed of electronic devices and computers for household devices as well as supercomputers. Additional applications of superconductors include synchronous condensers, particle beam therapy, magnetic billet heaters, HTS filters for cellular communications systems, airborne generators, directed energy weapons and degaussing cables.

As stated by the new market research report on Superconductors, Asia-Pacific represents the largest global market of superconductors. The region is also the fastest growing regional market, exhibiting a CAGR of 5.6% over the analysis period. Emerging economies such as India and China are potential markets for the superconductor industry owing to the vast population and enormous energy consumption in these regions. Application areas such as rail transit systems in China are key potential markets for superconductors. China also ranks amongst the largest importers of advanced MRI machines owing to growing demand in the domestic healthcare sector as well as increased expenditure on public healthcare by the government.

Key players profiled in the report include Advanced Magnet Lab, American Superconductor Corp., BASF New Business, Beijing Innopower Superconductor Cable Co., Ltd., Bruker Corp., Deutsche Nanoschicht, Furukawa Electric Co., Ltd., Hyper Tech Research, Inc., Japan Superconductor Technology, Inc., LS Cable Ltd., Oxford Instruments Plc., Research Instruments GmbH, Southwire Company, Sumitomo Electric Industries, Ltd., and Superconductor Technologies, Inc., among others.

The research report titled “Superconductors: A Global Strategic Business Report”, provides a comprehensive review of market trends, issues, drivers, mergers, acquisitions and other strategic industry activities of global companies. The report provides market estimates and projections in dollars for all major geographic markets including the US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia and Rest of Europe), Asia-Pacific (China, India, and Rest of Asia-Pacific), and Rest of World. Product segments analyzed in the report include Low Temperature Superconductors, and High Temperature Superconductors. End-use applications analyzed in the report include Magnetic Resonance Imaging (MRI), Research & Development, Electronics, and Others.

Details of the new report, table of contents and ordering information can be found on Electronics.ca Publications’ web site.  View the report: SUPERCONDUCTORS – A GLOBAL STRATEGIC BUSINESS REPORT.

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