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The Superconductors Industry Is Driven By Demand For MRI Machines Which Use Strong Superconducting Magnets

Superconductors Market Report 2021: COVID-19 Growth And Change

Superconductors Global Market Report 2021: COVID-19 Growth And Change

The Business Research Company’s Superconductors Global Market Report 2021: COVID-19 Growth And Change

LONDON, GREATER LONDON, UK, March 3, 2021 / -- Our reports have been revised for market size, forecasts, and strategies to take on 2021 after the COVID-19 impact:

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The growing demand for MRI machines is expected to drive the growth of the superconductors market in the coming years. Magnetic resonance imaging, or MRI, employs strong superconducting magnets to generate large and even magnetic fields within the patient's body. Magnetic Resonance Imaging (MRI) devices are an example of technology used to improve the precision of the diagnosis of health issues. According to the Health System Tracker, in 2020, the USA has 40.4 MRI machines per million people, considerably more than most comparably rich countries excluding Japan (55.2). Therefore, the growing demand for MRI machines drives the growth of the superconductors market.

The superconducting materials market covered in this report is segmented by type into type-I superconductor, type-II superconductor; by material into stainless steel, yttrium barium copper oxide, bismuth strontium calcium copper oxide, others; by product into magnets, cables, transformers, energy storage devices; by application into energy, electronics, medical, research and development, industrial, others.

The global superconductors market size is expected to grow from $4.85 billion in 2020 to $5.37 billion in 2021 at a compound annual growth rate (CAGR) of 10.48%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $8.78 billion in 2025 at a CAGR of 13.08%.

The major players covered in the superconducting wire market are American Superconductor, Bruker, Furukawa Electric Co. Ltd., Southwire Company LLC., Sumitomo Electric Industries Ltd., Fujikura Ltd., Superconductor Technologies Inc., Cryomagnetics Inc., Deutsche Nanoschicht GmbH, Japan Superconductor Technology Inc., Supercon Inc., SuperOx, Ceraco Ceramic Coating GmbH, Hyper Tech Research Inc., LS Cable & System Ltd., Scientific Magnetics, Theva Dünnschichttechnik GmbH., Toshiba Corporation, Evico Gmbh, Advanced Magnet Lab Inc., Alstom, American Magnetics Inc., ASG Superconductors Spa, Cryoelectra Gmbh, Cryoton Ltd., Eriez Manufacturing Co.

Superconductors Global Market Report 2021: COVID-19 Growth And Change is one of a series of new reports from The Business Research Company that provides superconductors market overview, forecast superconductors market size and growth for the whole market, superconductors market segments, and geographies, superconductors market trends, superconductors market drivers, restraints, leading competitors’ revenues, profiles, and market shares.

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