Product Code: TIPRE00004630
The Superconductors Market is projected to reach US$ 8,564.61 million by 2028; it is expected to grow at a CAGR of 8.4% from 2022 to 2028.
Superconducting technologies are esoteric systems used in laboratories, electronics, defense, hospitals, and many other places. The capacity of superconductivity to efficiently produce high magnetic fields that are otherwise exceedingly expensive to obtain with traditional materials has long been recognized by large science endeavors. The superconductors market size is segmented based on type, applications, and geography. Based on type, the superconductors market is categorized into low temperature superconductors and high temperature superconductors). By application, the superconductors market is segmented into medical, electronics, defense & military, and others. Based on geography, the superconductors market size is primarily segregated into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America.
A quantum computer's processing power is based on superconducting qubits that operate at extremely low temperatures. At room temperature, qubits are commonly operated by conventional electronics connected by electrical lines. When the number of qubits reaches the needed level of hundreds of thousands, the number of control cables becomes incapable of scaling up to match the number of qubits without causing an unacceptable heat load, thereby jeopardizing the quantum processor's low temperature. One solution is to control the quantum processor with a nearby classical processor. The single flux quantum (SFQ) technology, which follows classical computer logic but employs superconducting technology instead of semiconductors, is the most promising answer. Due to its low-temperature requirements, SFQ has only been employed in a few classical computers.
This disadvantage becomes a benefit when utilized in conjunction with superconducting quantum computers. Additionally, the extremely high-power consumption of CPUs and GPUs due to energy dissipation in silicon chips is a major restriction of supercomputers. In GPUs, replacing silicon chips with superconducting SFQ chips could significantly influence performance and power consumption. Thus, the increase in superconducting chips to scale up quantum computers and supercomputers is driving the superconductors market.
North America accounted for the largest global superconductors market share in 2021, whereas the Asia Pacific superconductors market is expected to grow with the highest CAGR during the forecast period. Based on country, the Asia Pacific superconductors market is segmented into Australia, China, India, Japan, South Korea, and the rest of Asia Pacific. Asia Pacific is the largest market for superconductor materials due to the high application of low-temperature superconductors in medical imaging applications such as Nuclear Magnetic Resonance (NMR) and Magnetic Resonance Imaging (MRI). The Asia Pacific region's large population, combined with the rise in health awareness, has fueled the expansion of the low-temperature superconductors market in the region. Because of factors such as ongoing MRI expansion and investment in strong energy storage and transmission technology, Asia Pacific is predicted to be the fastest-growing region for the superconductors market. For instance, in October 2021, SuperQ Technologies India Pvt Ltd., a subsidiary of Qpi Technology, signed a Memorandum of Understanding (MoU) with the Cryogenic Engineering Department of IIT-Kharagpur to accelerate their research in the field of Superconductors. The discoveries in superconducting-based products will pave the way for growth in many domains. Some range from healthcare, power generation, energy storage and distribution, high-energy physics, and quantum computing. Such discoveries in the superconducting-based product will boost the superconductors market share.
COVID-19 Impact on Superconductors Market
The COVID-19 pandemic negatively hampered the global superconductors market growth due to considerable disruption in the supply chain activities and several countries sealing off their international trade in the wake of the pandemic. Due to the pandemic, various industries were declining in 2020. The lockdowns impacted the global manufacturing sectors. The worldwide lockdown to minimize the transmission of the virus has significantly disrupted the supply chain activities and reduced the production of commodities, goods, and services. As a result, the superconductors market players witnessed a slowdown in production. Further, there were restrictions on foreign trades due to the closure of international borders, non-operational distribution channels, and various government norms to take precautionary measures for public health and safety.
North America was severely affected by the COVID-19 pandemic, with North American countries experiencing a drop in national GDPs, international trade, and economy. The North America electronic industry was disrupted during the first half of 2020, leading to a massive decline in the revenue of key players operating in the superconductors market analysis. The COVID-19 outbreak resulted in a decrease in component manufacturers and disruptions of supply chains across the region. Further, the US is the world's largest producer of superconductor products and one of the largest consumers of superconductors. However, the country experienced strict government regulations in the mid of 2020 due to COVID-19 safety measures, which resulted in considerable disruption in the manufacturing and supply chain of superconductors. Due to this, superconductor manufacturing companies faced revenue losses and slow growth. Meanwhile, as the economy started to revive from late Q4 of 2020 and the demand for superconductors showcased growth in adoption rate from various end-users in the superconductors market analysis.
A few players in the global superconductors market profiled in the market study include Bruker Corporation; Furukawa Electric Co. Ltd.; American Superconductor Corporation; Sumitomo Electric Industries, Ltd.; and Hitachi Ltd. The superconductors market players are highly fragmented, with several players localized in a specific region to cater to the domestic demand.
The overall superconductors market has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information about the superconductor's size. The process also obtains an overview and market forecast of the superconductor's market size with respect to all the market segments. Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data and gain more analytical insights into the topic. The participants typically involved in this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers-along with external consultants such as valuation experts, research analysts, and key opinion leaders-specializing in the superconductors market growth.
Reasons to Buy:
Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the global superconductors market
Highlights key business priorities in order to assist companies to realign their business strategies
The key findings and recommendations highlight crucial progressive industry trends in the global superconductors market, thereby allowing players across the value chain to develop effective long-term strategies
Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it
Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution
Table Of Contents
1. Introduction
- 1.1 Study Scope
- 1.2 The Insight Partners Research Report Guidance
- 1.3 Market Segmentation
2. Key Takeaways
3. Research Methodology
- 3.1 Coverage
- 3.2 Secondary Research
- 3.3 Primary Research
4. Superconductors Market Landscape
- 4.1 Market Overview
- 4.2 PEST Analysis
- 4.2.1 North America
- 4.2.2 Europe
- 4.2.3 APAC
- 4.2.4 MEA
- 4.2.5 SAM
- 4.3 Ecosystem Analysis
- 4.4 Expert Opinions
5. Superconductors Market - Key Market Dynamics
- 5.1 Market Drivers
- 5.1.1 Rising Implementation of Safety and Environmental Management System
- 5.1.2 Increasing Use of MRI Technology
- 5.1.3 Superconducting Chips to Scale-up Quantum Computers and Boost Supercomputers
- 5.2 Market Restraints
- 5.2.1 Lack of Standard Testing Facilities
- 5.3 Market Opportunities
- 5.3.1 Superconductivity Paves the Way for New Quantum Materials
- 5.4 Trends
- 5.4.1 Powerful Superconducting Magnet for Next Generation Light Sources
- 5.5 Impact Analysis of Drivers and Restraints
6. Superconductors Market - Global Market Analysis
- 6.1 Global Superconductors Market Overview
- 6.2 Global Superconductors Market Revenue Forecast and Analysis
- 6.3 Market Positioning - Five Key Players
- 6.4 Competitive Benchmarking
- 6.4.1 Bruker Corporation
- 6.4.2 Furukawa Electric Co., Ltd.
- 6.4.3 Sumitomo Electric Industries, Ltd.
- 6.4.4 Hitachi Ltd.
- 6.4.5 American Superconductor Corporation
- 6.5 Growth Matrix
7. Superconductors Market Analysis - By Type
- 7.1 Overview
- 7.2 Superconductors Market, by Type (2021 and 2028)
- 7.3 Low Temperature Superconductors (LTS)
- 7.3.1 Overview
- 7.3.2 Low Temperature Superconductors: Superconductors Market - Revenue and Forecast to 2028 (US$ Million)
- 7.4 High Temperature Superconductors (HTS)
- 7.4.1 Overview
- 7.4.2 High Temperature Superconductors: Superconductors Market - Revenue and Forecast to 2028 (US$ Million)
8. Superconductors Market - By Application
- 8.1 Overview
- 8.2 Superconductors Market, by Application (2021 and 2028)
- 8.3 Medical
- 8.3.1 Overview
- 8.3.2 Medical: Superconductors Market - Revenue and Forecast to 2028 (US$ Million)
- 8.4 Electronics
- 8.4.1 Overview
- 8.4.2 Electronics: Superconductors Market - Revenue and Forecast to 2028 (US$ Million)
- 8.5 Defense & Military
- 8.5.1 Overview
- 8.5.2 Defense & Military: Superconductors Market - Revenue and Forecast to 2028 (US$ Million)
- 8.6 Others
- 8.6.1 Overview
- 8.6.2 Others: Superconductors Market - Revenue and Forecast to 2028 (US$ Million)
9. Superconductors Market - Geographic Analysis
- 9.1 Overview
- 9.2 North America: Superconductors Market
- 9.2.1 North America: Superconductors Market - Revenue and Forecast to 2028 (US$ Million)
- 9.2.2 North America: Superconductors Market, by Type
- 9.2.3 North America: Superconductors Market, by Application
- 9.2.4 North America: Superconductors Market, by Key Country
- 9.2.4.1 US: Superconductors Market - Revenue and Forecast to 2028 (US$ Million)
- 9.2.4.1.1 US: Superconductors Market, by Type
- 9.2.4.1.2 US: Superconductors Market, by Application
- 9.2.4.2 Canada: Superconductors Market - Revenue and Forecast to 2028 (US$ Million)
- 9.2.4.2.1 Canada: Superconductors Market, by Type
- 9.2.4.2.2 Canada: Superconductors Market, by Application
- 9.2.4.3 Mexico: Superconductors Market - Revenue and Forecast to 2028 (US$ Million)
- 9.2.4.3.1 Mexico: Superconductors Market, by Type
- 9.2.4.3.2 Mexico: Superconductors Market, by Application
- 9.3 Europe: Superconductors Market
- 9.3.1 Europe: Superconductors Market - Revenue and Forecast to 2028 (US$ Million)
- 9.3.2 Europe: Superconductors Market, by Type
- 9.3.3 Europe: Superconductors Market, by Application
- 9.3.4 Europe: Superconductors Market, by Key Country
- 9.3.4.1 France: Superconductors Market - Revenue and Forecast to 2028 (US$ Million)
- 9.3.4.1.1 France: Superconductors Market, by Type
- 9.3.4.1.2 France: Superconductors Market, by Application
- 9.3.4.2 Germany: Superconductors Market - Revenue and Forecast to 2028 (US$ Million)
- 9.3.4.2.1 Germany: Superconductors Market, by Type
- 9.3.4.2.2 Germany: Superconductors Market, by Application
- 9.3.4.3 Italy: Superconductors Market - Revenue and Forecast to 2028 (US$ Million)
- 9.3.4.3.1 Italy: Superconductors Market, by Type
- 9.3.4.3.2 Italy: Superconductors Market, by Application
- 9.3.4.4 UK: Superconductors Market - Revenue and Forecast to 2028 (US$ Million)
- 9.3.4.4.1 UK: Superconductors Market, by Type
- 9.3.4.4.2 UK: Superconductors Market, by Application
- 9.3.4.5 Russia: Superconductors Market - Revenue and Forecast to 2028 (US$ Million)
- 9.3.4.5.1 Russia: Superconductors Market, by Type
- 9.3.4.5.2 Russia: Superconductors Market, by Application
- 9.3.4.6 Rest of Europe: Superconductors Market - Revenue and Forecast to 2028 (US$ Million)
- 9.3.4.6.1 The Rest of Europe Rest of Europe: Superconductors Market, by Type
- 9.3.4.6.2 Rest of Europe: Superconductors Market, by Application
- 9.4 Asia Pacific: Superconductors Market
- 9.4.1 APAC: Superconductors Market - Revenue and Forecast to 2028 (US$ Million)
- 9.4.2 APAC: Superconductors Market, by Type
- 9.4.3 APAC: Superconductors Market, by Application
- 9.4.4 APAC: Superconductors Market, by Key Country
- 9.4.4.1 Australia: Superconductors Market - Revenue and Forecast to 2028 (US$ Million)
- 9.4.4.1.1 Australia: Superconductors Market, by Type
- 9.4.4.1.2 Australia: Superconductors Market, by Application
- 9.4.4.2 China: Superconductors Market - Revenue and Forecast to 2028 (US$ Million)
- 9.4.4.2.1 China: Superconductors Market, by Type
- 9.4.4.2.2 China: Superconductors Market, by Application
- 9.4.4.3 India: Superconductors Market - Revenue and Forecast to 2028 (US$ Million)
- 9.4.4.3.1 India: Superconductors Market, by Type
- 9.4.4.3.2 India: Superconductors Market, by Application
- 9.4.4.4 Japan: Superconductors Market - Revenue and Forecast to 2028 (US$ Million)
- 9.4.4.4.1 Japan: Superconductors Market, by Type
- 9.4.4.4.2 Japan: Superconductors Market, by Application
- 9.4.4.5 South Korea: Superconductors Market - Revenue and Forecast to 2028 (US$ Million)
- 9.4.4.5.1 South Korea: Superconductors Market, by Type
- 9.4.4.5.2 South Korea: Superconductors Market, by Application
- 9.4.4.6 Rest of APAC: Superconductors Market - Revenue and Forecast to 2028 (US$ Million)
- 9.4.4.6.1 Rest of APAC: Superconductors Market, by Type
- 9.4.4.6.2 Rest of APAC: Superconductors Market, by Application
- 9.5 MEA: Superconductors Market
- 9.5.1 MEA: Superconductors Market - Revenue and Forecast to 2028 (US$ Million)
- 9.5.2 MEA: Superconductors Market, by Type0
- 9.5.3 MEA: Superconductors Market, by Application1
- 9.5.4 MEA: Superconductors Market, by Key Country1
- 9.5.4.1 South Africa: Superconductors Market - Revenue and Forecast to 2028 (US$ Million)2
- 9.5.4.1.1 South Africa: Superconductors Market, by Type3
- 9.5.4.1.2 South Africa: Superconductors Market, by Application3
- 9.5.4.2 Saudi Arabia: Superconductors Market - Revenue and Forecast to 2028 (US$ Million)4
- 9.5.4.2.1 Saudi Arabia: Superconductors Market, by Type5
- 9.5.4.2.2 Saudi Arabia: Superconductors Market, by Application5
- 9.5.4.3 UAE: Superconductors Market - Revenue and Forecast to 2028 (US$ Million)6
- 9.5.4.3.1 UAE: Superconductors Market, by Type7
- 9.5.4.3.2 UAE: Superconductors Market, by Application7
- 9.5.4.4 Rest of MEA: Superconductors Market - Revenue and Forecast to 2028 (US$ Million)8
- 9.5.4.4.1 Rest of MEA: Superconductors Market, by Type9
- 9.5.4.4.2 Rest of MEA: Superconductors Market, by Application9
- 9.6 SAM: Superconductors Market0
- 9.6.1 SAM: Superconductors Market - Revenue and Forecast to 2028 (US$ Million)0
- 9.6.2 SAM: Superconductors Market, by Type1
- 9.6.3 SAM: Superconductors Market, by Application2
- 9.6.4 SAM: Superconductors Market, by Key Country3
- 9.6.4.1 Brazil: Superconductors Market - Revenue and Forecast to 2028 (US$ Million)3
- 9.6.4.1.1 Brazil: Superconductors Market, by Type4
- 9.6.4.1.2 Brazil: Superconductors Market, by Application4
- 9.6.4.2 Argentina: Superconductors Market - Revenue and Forecast to 2028 (US$ Million)5
- 9.6.4.2.1 Argentina: Superconductors Market, by Type5
- 9.6.4.2.2 Argentina: Superconductors Market, by Application6
- 9.6.4.3 Rest of SAM: Superconductors Market - Revenue and Forecast to 2028 (US$ Million)7
- 9.6.4.3.2 Rest of SAM: Superconductors Market, by Type8
- 9.6.4.3.3 Rest of SAM: Superconductors Market, by Application8
10. Superconductors Market - Covid-19 Impact Analysis9
- 10.1 Overview9
- 10.2 North America: Impact Assessment of COVID-19 Pandemic9
- 10.3 Europe: Impact Assessment of COVID-19 Pandemic1
- 10.4 APAC: Impact Assessment of COVID-19 Pandemic2
- 10.5 MEA: Impact Assessment of COVID-19 Pandemic3
- 10.6 South America Impact Assessment of COVID-19 Pandemic4
11. Industry Landscape5
- 11.1 Overview5
- 11.2 Market Initiative5
- 11.3 New Product Development5
12. Company Profiles6
- 12.1 American Superconductor6
- 12.1.1 Key Facts6
- 12.1.2 Business Description6
- 12.1.3 Products and Services6
- 12.1.4 Financial Overview7
- 12.1.5 SWOT Analysis9
- 12.1.6 Key Developments9
- 12.2 Bruker0
- 12.2.1 Key Facts0
- 12.2.2 Business Description0
- 12.2.3 Products and Services0
- 12.2.4 Financial Overview1
- 12.2.5 SWOT Analysis2
- 12.2.6 Key Developments3
- 12.3 FURUKAWA ELECTRIC CO., LTD.3
- 12.3.1 Key Facts4
- 12.3.2 Business Description4
- 12.3.3 Products and Services4
- 12.3.4 Financial Overview5
- 12.3.5 SWOT Analysis7
- 12.3.6 Key Developments7
- 12.4 Hitachi, Ltd.8
- 12.4.1 Key Facts8
- 12.4.2 Business Description8
- 12.4.3 Products and Services8
- 12.4.4 Financial Overview9
- 12.4.5 SWOT Analysis1
- 12.4.6 Key Developments2
- 12.5 Hyper Tech Research, Inc.3
- 12.5.1 Key Facts3
- 12.5.2 Business Description3
- 12.5.3 Products and Services3
- 12.5.4 Financial Overview4
- 12.5.5 SWOT Analysis4
- 12.5.6 Key Developments4
- 12.6 Japan Superconductor Technology, Inc.5
- 12.6.1 Key Facts5
- 12.6.2 Business Description5
- 12.6.3 Products and Services5
- 12.6.4 Financial Overview6
- 12.6.5 SWOT Analysis7
- 12.6.6 Key Developments7
- 12.7 Sumitomo Electric Industries, Ltd.8
- 12.7.1 Key Facts8
- 12.7.2 Business Description8
- 12.7.3 Products and Services8
- 12.7.4 Financial Overview9
- 12.7.5 SWOT Analysis0
- 12.7.6 Key Developments0
- 12.8 Toshiba Corporation1
- 12.8.1 Key Facts1
- 12.8.2 Business Description1
- 12.8.3 Products and Services1
- 12.8.4 Financial Overview2
- 12.8.5 SWOT Analysis4
- 12.8.6 Key Developments5
- 12.9 Cryomagnetics6
- 12.9.1 Key Facts6
- 12.9.2 Business Description6
- 12.9.3 Products and Services6
- 12.9.4 Financial Overview7
- 12.9.5 SWOT Analysis8
- 12.9.6 Key Developments8
- 12.10 FUJI ELECTRIC CO., LTD.9
- 12.10.1 Key Facts9
- 12.10.2 Business Description9
- 12.10.3 Products and Services9
- 12.10.4 Financial Overview0
- 12.10.5 SWOT Analysis1
- 12.10.6 Key Developments1
13. Appendix2
- 13.1 About The Insight Partners2
- 13.2 Word Index2