Overview and Scope
Superconducting materials are materials that exhibit zero electrical resistance when cooled below a certain critical temperature. These have the ability to conduct electric current without any loss of energy due to resistance. This property allows for the efficient transmission of electrical power over long distances without significant energy loss.
Sizing and Forecast
The superconducting materials market size has grown rapidly in recent years. It will grow from $8.02 billion in 2023 to $8.94 billion in 2024 at a compound annual growth rate (CAGR) of 11.4%. The growth in the historic period can be attributed to research and development initiatives, government funding and support, growing demand in medical imaging, energy infrastructure development, increased manufacturing capabilities, increasing adoption in the energy sector..
The superconducting materials market size is expected to see strong growth in the next few years. It will grow to $13.05 billion in 2028 at a compound annual growth rate (CAGR) of 9.9%. The growth in the forecast period can be attributed to emerging applications in transportation, expanding renewable energy projects, advancements in healthcare devices, increasing demand in research facilities, enhancements in energy storage.. Major trends in the forecast period include advancements in research and development, superconductors in quantum computing, focus on sustainable technologies, application expansion beyond electronics, infrastructure upgrades for 5g, advancements in electronics..
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Segmentation & Regional Insights
The superconducting materials market covered in this report is segmented –
1) By Product: Low Temperature, High Temperature
2) By Sales channel: Direct, Indirect
3) By End User: Medical, Research And Development, Nuclear Fusion, Electronics, Transportation, Energy, Power, Other End Users
North America was the largest region in the superconducting materials market in 2023. The regions covered in the superconducting materials market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The robust growth in the electronic industry is expected to propel the growth of the superconducting materials market going forward. The electronics industry refers to the sector of the economy that encompasses the design, development, manufacturing, and distribution of electronic devices, components and systems. Superconducting materials enable electronic devices, with ultra-high resolution and speed, to improve the user experience and functionality of the devices. For instance, in June 2023, according to the Bureau of Economic Analysis, a US-based government agency, the electronic products manufacturing industry increased to 5.7 percent in 2021. Therefore, the robust growth in the electronic industry is driving the growth of the superconducting materials market.
Key Industry Players
Major companies operating in the superconducting materials market report are Hitachi Ltd., Sumitomo Corporation, Sumitomo Electric Industries Ltd., Toshiba Corporation, NEXANS SA, Fujikura Ltd., LS Cable & System Ltd., Furukawa Electric Co. Ltd., Delft Circuits, evico GmbH, Hyper Tech Research Inc., MetOx Technologies Inc., Super Conductor Materials Inc., Superconductor Technologies Inc., Western Superconducting Technologies Co. Ltd., Hyper Tech Research Inc., SuperPower Inc., Columbus Superconductors S.p.A, Cryomagnetics Inc., Deutsche Nanoschicht GmbH, Japan Superconductor Technology Inc., Super Inc. , SuperOx Ceramic Coating GmbH, Scientific Magnetics, Theva Dunnschichttechnik GmbH
The superconducting materials market report table of contents includes:
1. Executive Summary
2. Superconducting Materials Market Characteristics
3. Superconducting Materials Market Trends And Strategies
4. Superconducting Materials Market – Macro Economic Scenario
5. Global Superconducting Materials Market Size and Growth
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27. Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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