The Superconductors Market size was valued at USD 7.20 Billion in 2023. It is expected to grow to USD 15.00 Billion by 2031 and grow at a CAGR of 9.75% over the forecast period of 2024-2031.
The Superconductor Market is part of a global ecosystem involved in developing, manufacturing, researching, and commercializing these extraordinary materials and their related technologies.
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The superconductor market is experiencing steady growth, driven by the enormous potential of these materials, although it is still at an early stage compared to other sectors. They act like superhighways for electricity, experiencing near-zero resistance, unlike traditional cables that lose energy as heat Cryomagnetic, a maker of superconducting magnets introduced The C-Mag Vari-611-Optical, 6-1-1 Tesla 3-Axis Optical Cryogen superconducting magnet system in August 2022. Both magnets and cryostats cool a single pulse tube cryocooler, which also cools a secondary closed loop helium circuit regulating the sample temperature.
| Report Attributes | Details |
|---|---|
| Key Segments | • By Type (Low Temperature, High Temperature) • By Application (Medical, Electronics, Defense And Military, Others) |
| Regional Coverage | North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia, Rest of Latin America) |
| Company Profiles | LS Cable & System Ltd., Bruker Corporation, Fujikura Ltd., Sumitomo Electric Industries, Ltd., Furukawa Electric Co. Ltd., American Superconductor Corporation, Japan Superconductor Technology Inc., Hyper Tech Research, Inc., Hitachi Ltd., Cryomagnetics Inc. |
DRIVERS:
The growing demand for superconductors in various sectors driving market growth.
By reducing energy losses, superconductors offer important benefits in the transmission and distribution of electricity.
Superconductors are transforming how we deliver electricity. They act like superhighways for electricity, experiencing near-zero resistance, unlike traditional cables that lose energy as heat. This translates to a massive 90% reduction in energy loss during transmission Superconductors can transfer data with a relatively low energy loss, which has attracted considerable research funding. Businesses are creating new, more efficient models at higher temperatures. These cables have already undergone testing by several of the largest companies, resulting in a more secure, reliable, and effective power grid. Superconductors continue to incur early costs, but they are capable of revolutionizing the way that power is used.
RESTRAINTS:
High initial investment costs are required for the association of the new technology.
Limited availability of the basic raw material.
OPPORTUNITIES:
Integration with renewable energy.
Emerging technologies in the field of superconductors.
CHALLENGES:
Most superconducting materials require high cooling requirements.
Volatile raw material prices.
Rising demand in the electronics sector has led to a boom in superconductors, but price volatility of raw materials remains an important obstacle. The profit margins of superconductors could be reduced and their supply chains could be disturbed by variations in the cost of silicon, neon, or REE materials. This volatility of prices may sometimes be exacerbated by geopolitical conflicts, especially for minerals that are largely geographically related to the rare earth element. Businesses are adopting strategies to mitigate price volatility. All ways the industry is working towards a more stable and sustainable supply chain for continued growth are long-term contracts with raw material suppliers, diversification of sources to reduce dependency on specific regions, and investment in recycling initiatives.
The existing superconductor shortage might grow worse as a result of the conflict in Ukraine. The war is causing supply interruptions for neon and palladium, two essential raw elements used in the production of superconductors. Though short-term supply chain problems and inflation are controllable. Russia is a critical player in the battery metals market, boasting a significant presence across key materials. They hold 11% of global nickel production and export 15% worldwide, with Finland relying heavily on them (84% import share). For palladium, Russia exerts even greater dominance, controlling a whopping 43% of global production and exporting 21%. Countries like Japan (43%), the US (37%), and China (28.5%) are highly dependent on Russia for their palladium needs. Finally, Russia holds a strong position in vanadium oxides as well, accounting for 21% of production and exporting 25%. The Czech Republic stands out as the most reliant importer (88% share), while China (31%) and India (21%) are also major customers. During war the nickel market, with prices potentially surging by 20-30% and Russian production declining by 5-10% due to sanctions and logistical disruptions.
Governments may constrict their budgets, leading to a decrease in investments for new projects that employ superconductors. This could be specifically valid for big foundation projects like power grids or medical facilities. Many projects are deferred like high-speed maglev trains which demand a significant amount of cost. downturns can consistently push associations and governments to prioritize long-term cost investments. Government tactics can play a main role. Countries with powerful support for clean energy or high-tech infrastructure may be more likely to continue providing superconductor projects during a downturn.
By Type:
Low Temperature
High Temperature
By Type, the low-temperature sub-segment is dominant in the Superconductor market. The low-temperature superconductor segment is expected to hold around 50% of market revenue in 2023. It is traditionally used for specialized applications like MRI machines. This is due to its growing use in power grids, and transportation systems. it is also used in cutting-edge fields like quantum computing. This variety is throwing it to become an even more superior performer in the superconductor market.
By Application
Medical
Electronics
Defense and Military
Others
The Medical sub-segment is the dominant segment of the market and is expected to grow at around 40% in 2031. Besides their use in MRI scanners, superconducting materials are a major component of scientific research facilities and experimentation settings. Given their potential to produce clean energy, they are also essential for a small but very promising sector of nuclear fusion. These materials are also used in sensors and detectors by the electronics industry in order to increase their market share.
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Asia Pacific dominated the superconductor market. China and India are projected to experience significant growth in demand for superconductor materials. China is anticipated to become a prominent market for the superconductor industry. There are several factors contributing to China's prominence in this market. North America region, is the fastest growing region superconductor market. The U.S. acquired a prime market share. The US market for superconducting materials is divided by application, with a wide variety of industries that benefit from this advanced material.
REGIONAL COVERAGE:
North America
US
Canada
Mexico
Europe
Eastern Europe
Poland
Romania
Hungary
Turkey
Rest of Eastern Europe
Western Europe
Germany
France
UK
Italy
Spain
Netherlands
Switzerland
Austria
Rest of Western Europe
Asia Pacific
China
India
Japan
South Korea
Vietnam
Singapore
Australia
Rest of Asia Pacific
Middle East & Africa
Middle East
UAE
Egypt
Saudi Arabia
Qatar
Rest of the Middle East
Africa
Nigeria
South Africa
Rest of Africa
Latin America
Brazil
Argentina
Colombia
Rest of Latin America
LS Cable & System Ltd., Bruker Corporation, Fujikura Ltd., Sumitomo Electric Industries, Ltd., Furukawa Electric Co. Ltd., American Superconductor Corporation, Japan Superconductor Technology Inc., Hyper Tech Research, Inc., Hitachi Ltd., Cryomagnetics Inc., and other market players.
LS Cable & System Ltd-Company Financial Analysis
In December 2022 Bruker Corporation and RI Research Instruments GmbHRI were awarded multiyear contracts for the supply of key technology components for major fusion projects in Europe and Asia, amounting to approximately $50 million. Key Benefits For Stakeholders.
In May 2021, By acquiring Neeltran, Inc., AMSC expanded its product offering in the field of energy power systems. The acquisition of Neeltran directly aligns with AMSC’s strategic priority to achieve sustainable profitability independent of its wind business, broaden its product offerings, and expand both total available market share and content-per-sale for the industrial sector.
| Report Attributes | Details |
|---|---|
| Market Size in 2023 | US$ 7.20 Billion |
| Market Size by 2031 | US$ 15.00 Billion |
| CAGR | CAGR of 9.75 % From 2024 to 2031 |
| Base Year | 2023 |
| Forecast Period | 2024-2031 |
| Historical Data | 2020-2022 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Drivers | • The growing demand for superconductors in various sectors driving market growth. • By reducing energy losses, superconductors offer important benefits in the transmission and distribution of electricity. |
| Restraints | • High initial investment costs are required for the association of the new technology. • Limited availability of the basic raw material. |
Ans: The Superconductors Market is expected to grow at a CAGR of 9.75%
Ans: Superconductors Market size was USD 7.20 billion in 2023 and is expected to Reach USD 15.00 billion by 2031.
Ans: increasing implementation of superconducting wire over conventional wires.
Ans: High Implementation and Maintenance Costs to hinder the market growth.
Ans: Asia-Pacific dominates in superconductors market.
Table of Contents
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Industry Flowchart
3. Research Methodology
4. Market Dynamics
4.1 Drivers
4.2 Restraints
4.3 Opportunities
4.4 Challenges
5. Impact Analysis
5.1 Impact Of Russia Ukraine Crisis
5.2 Impact of Economic Slowdown on Major Countries
5.2.1 Introduction
5.2.2 United States
5.2.3 Canada
5.2.4 Germany
5.2.5 France
5.2.6 UK
5.2.7 China
5.2.8 Japan
5.2.9 South Korea
5.2.10 India
6. Value Chain Analysis
7. Porter’s 5 Forces Model
8. Pest Analysis
9. Superconductors Market Segmentation, By Type
9.1 Introduction
9.2 Trend Analysis
9. 3 Low Temperature
9.4 High Temperature
10. Superconductors Market Segmentation, By Application
10.1 Introduction
10.2 Trend Analysis
10.3 Medical
10.4 Electronics
10.4 Defense and Military
10.5 Others
11. Regional Analysis
11.1 Introduction
11.2 North America
11.2.1 Trend Analysis
11.2.2 North America Superconductors Market by Country
11.2.3 North America Market By Type
11.2.4 North America Superconductors Market By Application
11.2.5 USA
11.2.5.1 USA Superconductors Market By Type
11.2.5.2 USA Superconductors Market By Application
11.2.6 Canada
11.2.6.1 Canada Superconductors Market By Type
11.2.6.2 Canada Superconductors Market By Application
11.2.7 Mexico
11.2.7.1 Mexico Superconductors Market By Type
11.2.7.2 Mexico Superconductors Market By Application
11.3 Europe
11.3.1 Trend Analysis
11.3.2 Eastern Europe
11.3.2.1 Eastern Europe Superconductors Market by Country
11.3.2.2 Eastern Europe Superconductors Market By Type
11.3.2.3 Eastern Europe Superconductors Market By Application
11.3.2.4 Poland
11.3.2.4.1 Poland Superconductors Market By Type
11.3.2.4.2 Poland Superconductors Market By Application
11.3.2.5 Romania
11.3.2.5.1 Romania Superconductors Market By Type
11.3.2.5.2 Romania Superconductors Market By Application
11.3.2.6 Hungary
11.3.2.6.1 Hungary Superconductors Market By Type
11.3.2.6.2 Hungary Superconductors Market By Application
11.3.2.7 Turkey
11.3.2.7.1 Turkey Superconductors Market By Type
11.3.2.7.2 Turkey Superconductors Market By Application
11.3.2.8 Rest of Eastern Europe
11.3.2.8.1 Rest of Eastern Europe Superconductors Market By Type
11.3.2.8.2 Rest of Eastern Europe Superconductors Market By Application
11.3.3 Western Europe
11.3.3.1 Western Europe Superconductors Market by Country
11.3.3.2 Western Europe Superconductors Market By Type
11.3.3.3 Western Europe Superconductors Market By Application
11.3.3.4 Germany
11.3.3.4.1 Germany Superconductors Market By Type
11.3.3.4.2 Germany Superconductors Market By Application
11.3.3.5 France
11.3.3.5.1 France Superconductors Market By Type
11.3.3.5.2 France Superconductors Market By Application
11.3.3.6 UK
11.3.3.6.1 UK Superconductors Market By Type
11.3.3.6.2 UK Superconductors Market By Application
11.3.3.7 Italy
11.3.3.7.1 Italy Superconductors Market By Type
11.3.3.7.2 Italy Superconductors Market By Application
11.3.3.8 Spain
11.3.3.8.1 Spain Superconductors Market By Type
11.3.3.8.2 Spain Superconductors Market By Application
11.3.3.9 Netherlands
11.3.3.9.1 Netherlands Superconductors Market By Type
11.3.3.9.2 Netherlands Superconductors Market By Application
11.3.3.10 Switzerland
11.3.3.10.1 Switzerland Superconductors Market By Type
11.3.3.10.2 Switzerland Superconductors Market By Application
11.3.3.11 Austria
11.3.3.11.1 Austria Superconductors Market By Type
11.3.3.11.2 Austria Superconductors Market By Application
11.3.3.12 Rest of Western Europe
11.3.3.12.1 Rest of Western Europe Superconductors Market By Type
11.3.2.12.2 Rest of Western Europe Superconductors Market By Application
11.4 Asia-Pacific
11.4.1 Trend Analysis
11.4.2 Asia Pacific Superconductors Market by Country
11.4.3 Asia Pacific Superconductors Market By Type
11.4.4 Asia Pacific Superconductors Market By Application
11.4.5 China
11.4.5.1 China Superconductors Market By Type
11.4.5.2 China Superconductors Market By Application
11.4.6 India
11.4.6.1 India Superconductors Market By Type
11.4.6.2 India Superconductors Market By Application
11.4.7 Japan
11.4.7.1 Japan Superconductors Market By Type
11.4.7.2 Japan Superconductors Market By Application
11.4.8 South Korea
11.4.8.1 South Korea Superconductors Market By Type
11.4.8.2 South Korea Superconductors Market By Application
11.4.9 Vietnam
11.4.9.1 Vietnam Superconductors Market By Type
11.4.9.2 Vietnam Superconductors Market By Application
11.4.10 Singapore
11.4.10.1 Singapore Superconductors Market By Type
11.4.10.2 Singapore Superconductors Market By Application
11.4.11 Australia
11.4.11.1 Australia Superconductors Market By Type
11.4.11.2 Australia Superconductors Market By Application
11.4.12 Rest of Asia-Pacific
11.4.12.1 Rest of Asia-Pacific Superconductors Market By Type
11.4.12.2 Rest of Asia-Pacific Superconductors Market By Application
11.5 Middle East & Africa
11.5.1 Trend Analysis
11.5.2 Middle East
11.5.2.1 Middle East Superconductors Market by Country
11.5.2.2 Middle East Superconductors Market By Type
11.5.2.3 Middle East Superconductors Market By Application
11.5.2.4 UAE
11.5.2.4.1 UAE Superconductors Market By Type
11.5.2.4.2 UAE Superconductors Market By Application
11.5.2.5 Egypt
11.5.2.5.1 Egypt Superconductors Market By Type
11.5.2.5.2 Egypt Superconductors Market By Application
11.5.2.6 Saudi Arabia
11.5.2.6.1 Saudi Arabia Superconductors Market By Type
11.5.2.6.2 Saudi Arabia Superconductors Market By Application
11.5.2.7 Qatar
11.5.2.7.1 Qatar Superconductors Market By Type
11.5.2.7.2 Qatar Superconductors Market By Application
11.5.2.8 Rest of Middle East
11.5.2.8.1 Rest of Middle East Superconductors Market By Type
11.5.2.8.2 Rest of Middle East Superconductors Market By Application
11.5.3 Africa
11.5.3.1 Africa Superconductors Market by Country
11.5.3.2 Africa Superconductors Market By Type
11.5.3.3 Africa Superconductors Market By Application
11.5.2.4 Nigeria
11.5.2.4.1 South Africa Superconductors Market By Type
11.5.2.4.2 South Africa Superconductors Market By Application
11.5.2.5 South Africa
11.5.2.5.1 South Africa Superconductors Market By Type
11.5.2.5.2 South Africa Superconductors Market By Application
11.5.2.6 Rest of Africa
11.5.2.6.1 Rest of Africa Superconductors Market By Type
11.5.2.6.2 Rest of Africa Superconductors Market By Application
11.6 Latin America
11.6.1 Trend Analysis
11.6.2 Latin America Superconductors Market by Country
11.6.3 Latin America Superconductors Market By Type
11.6.4 Latin America Superconductors Market By Application
11.6.5 Brazil
11.6.5.1 Brazil Superconductors Market By Type
11.6.5.2 Brazil Superconductors Market By Application
11.6.6 Argentina
11.6.6.1 Argentina Superconductors Market By Type
11.6.6.2 Argentina Superconductors Market By Application
11.6.7 Colombia
11.6.7.1 Colombia Superconductors Market By Type
11.6.7.2 Colombia Superconductors Market By Application
11.6.8 Rest of Latin America
11.6.8.1 Rest of Latin America Superconductors Market By Type
11.6.8.2 Rest of Latin America Superconductors Market By Application
12. Company Profiles
12.1 LS Cable & System Ltd
12.1.1 Company Overview
12.1.2 Financial
12.1.3 Products/ Services Offered
12.1.4 SWOT Analysis
12.1.5 The SNS View
12.2 Bruker Corporation, Fujikura Ltd.
12.2.1 Company Overview
12.2.2 Financial
12.2.3 Products/ Services Offered
12.2.4 SWOT Analysis
12.2.5 The SNS View
12.3. Sumitomo Electric Industries
12.3.1 Company Overview
12.3.2 Financial
12.3.3 Products/ Services Offered
12.3.4 SWOT Analysis
12.3.5 The SNS View
12.4 SICK AG Ltd.
12.4.1 Company Overview
12.4.2 Financial
12.4.3 Products/ Services Offered
12.4.4 SWOT Analysis
12.4.5 The SNS View
12.5 Furukawa Electric Co. Ltd
12.5.1 Company Overview
12.5.2 Financial
12.5.3 Products/ Services Offered
12.5.4 SWOT Analysis
12.5.5 The SNS View
12.6 American Superconductor Corporation
.12.6.1 Company Overview
12.6.2 Financial
12.6.3 Products/ Services Offered
12.6.4 SWOT Analysis
12.6.5 The SNS View
12.7 Japan Superconductor Technology Inc
12.7.1 Company Overview
12.7.2 Financial
12.7.3 Products/ Services Offered
12.7.4 SWOT Analysis
12.7.5 The SNS View
12.8 Hyper Tech Research, Inc.
12.8.1 Company Overview
12.8.2 Financial
12.8.3 Products/ Services Offered
12.8.4 SWOT Analysis
12.8.5 The SNS View
12.9 Hitachi Ltd.
12.9.1 Company Overview
12.9.2 Financial
12.9.3 Products/ Services Offered
12.9.4 SWOT Analysis
12.9.5 The SNS View
12.10 Cryomagnetics Inc
12.14.1 Company Overview
12.14.2 Financial
12.14.3 Products/ Services Offered
12.14.4 SWOT Analysis
12.14.5 The SNS View
13. Competitive Landscape
13.1 Competitive Benchmarking
13.2 Market Share Analysis
13.3 Recent Developments
13.3.1 Industry News
13.3.2 Company News
13.3.3 Mergers & Acquisitions
14. USE Cases And Best Practices
15. Conclusion
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