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US $2BN | Superconducting Materials Market Report By Regional Revenue & Growth Forecast 2019-2024

Author : Rahul Varpe | Published Date : 2019-08-19 

According to Global Market Insights, Inc., “Superconducting materials industry revenue is expected to surpass USD 2 billion by 2024, registering a cumulative growth rate of 17% over the coming seven years.”

Government bodies are undertaking efforts to improve the operational efficiency of MRI equipment, which will spur Superconducting Materials Market growth. MRI equipment make use of superconducting materials to help display clear images of internal body parts. Global MRI equipment sector size is expected to record a CAGR of 10% over the coming timeframe, thereby favorably influencing superconducting materials market. Escalated product usage across the healthcare, electronics, medical, transportation, research & development, telecommunications, and power generation sectors, subject to the properties of high power conductivity & low energy losses will stimulate the market demand.

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Considering the geographical trends, Asia Pacific superconducting materials market value, which was estimated at USD 250 million in 2016, is anticipated to witness a striking growth over the next few years. Rising use of the product across the research & development, electronics, and medical equipment sectors will drive the regional growth. India and China are projected to be the key regional growth drivers.

Superconducting materials market size in the medical sector, estimated at USD 640 million in 2015, is projected to witness a significant expansion over the next few years. The growth can be credited to the mounting product utility in the medical devices such as MRI, MEG (Magnetoencephalography), and NMR (nuclear magnetic resonance) equipment, which are used for detecting various diseases. Electronic applications are expected to grow substantially over the years ahead and will contribute considerably towards superconducting materials market revenue.

High product preference by the manufacturers of the electronic goods such as air conditioners, televisions, fans, refrigerators, pumps, and machines will push the revenue. Enhanced customer spending on highly advanced electronic gadgets along with the rising trend among automobile manufacturers to maintain green environment, contributing towards the popular use of electric vehicles, will further push superconducting materials industry development.

Low temperature and high temperature superconducting materials are the major products of the industry. Low temperature superconducting materials market, which collected a revenue of USD 400 million in 2016, is expected to experience a huge surge over the years ahead, owing to its cost-effective nature and stable operational capability. It also possesses exceptional & flexible transformation characteristics which assist in resistance free electron conductivity and provide highly critical electric current densities, thereby increasing its demand across the electronics sector.

High temperature superconducting materials industry is slated to observe a substantial expansion over the years to come. The growth can be attributed to its heavy demand across the commercial sector subject to its ability to produce a strong magnetic field for emerging technologies such as fast trains, wind turbines, bio magnetism, power transformers, cryogenics, and electric motors.

Partial Chapter of the Table of Content:

Chapter 2.  Executive Summary

2.1.  Superconducting materials industry 360° synopsis, 2013 – 2024

2.1.1.    Business trends

2.1.2.    Product trends

2.1.3.    End-user trends

2.1.4.    Regional trends

Chapter 3.  Superconducting Materials Industry Insights

3.1.  Industry segmentation

3.2.  Industry size and forecast, 2013 - 2024

3.3.  Industry ecosystem analysis

3.3.1.    Vendor matrix

3.3.2.    Distributor channel analysis

3.4.  Industry impact forces

3.4.1.    Growth drivers

3.4.1.1.    Robust growth in medical industry

3.4.1.2.    Robust product demand in electronics industry

3.4.1.3.    Strong superconducting materials demand from R&D industry

3.4.2.    Industry pitfalls & challenges

3.4.2.1.    Volatile raw material prices

3.4.2.2.    Limited availability of raw material

3.5.  Growth potential analysis

3.6.  Regulatory trends

3.6.1.    U.S.

3.6.2.    Europe

3.6.3.    China

3.7.  Porter’s analysis

3.8.  Competitive landscape, 2016

3.8.1.    Strategy dashboard

3.9.  PESTEL analysis

3.10.  Regional price trends

3.10.1.   Cost structure analysis

3.10.2.   Raw material trends

Chapter 4.  Superconducting Materials Market, By Product

4.1.  Superconducting materials market share by product, 2016 & 2024

4.2.  Low temperature

4.2.1.    Market estimates and forecasts, 2013 - 2024

4.2.2.    Market estimates and forecasts by region, 2013 – 2024

4.3.  High temperature

4.3.1.    Market estimates and forecasts, 2013 - 2024

4.3.2.    Market estimates and forecasts by region, 2013 – 2024

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Market players will try to increase their ROI and global presence through joint ventures, strategic alliances, product benchmarking, and product differentiation. Super Conductor Materials Incorporation, Siemens AG, Western Superconducting Technologies Company Limited, Sumitomo Electric Industries Limited, Evico GMBH, Japan Superconductor Technology Incorporation, Hyper Tech Research Incorporation, SuperPower Incorporation, Hitachi Limited, AML Superconductivity and Magnetics, American Superconductor Company, Metal Oxide Technologies Incorporation, CAN SUPERCONDUCTORS, Superconductor Technologies Incorporation, and Nexans S.A. are  the key participants of superconducting materials industry.

About Author

Rahul Varpe

Rahul Varpe

Rahul Varpe currently writes for fractovia. A communication Engineering graduate by education, Rahul started his journey in as a freelancer writer along with regular jobs. Rahul has a prior experience in writing as well as marketing of services and products online. Apart from being an avid reader, his other hobbies include music and sketching. He can be contacted at- [email protected] | https://twitter.com/varperahul

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