Global Superconducting Magnets Industry is expected to be worth US$ US$ 4.3 Billion at a CAGR of 2.6% by forecast period 2033 end

The United States is anticipated to continue its position as a prominent player in the superconducting magnets business, with a predicted market size of US$ 776.3 million by 2033. One of the main drivers fueling development in the area is the increasing need for superconducting magnets in medical and research applications.

/EIN News/ — NEWARK, Del, May 18, 2023 (GLOBE NEWSWIRE) — The superconducting magnets industry is expected to be worth US$ 3.3 Billion in 2023. The market is anticipated to reach US$ 4.3 Billion at a CAGR of 2.6% by 2033. Increased use of superconducting magnets in MRI machines, particle accelerators, and nuclear magnetic resonance systems has led to robust expansion in the superconducting magnets market.

The creation of high-performance superconducting magnets has attracted increased investment in research and development, which is contributing to the industry’s expansion. The market is likely to expand as a result of the increasing demand for these magnets due to their special qualities, such as their capacity to produce strong magnetic fields.

Superconducting magnets have not caught on for several reasons despite their usefulness. The high price of these magnets is the key problem confronting the business. This is mostly because of the high cost of niobium-titanium and niobium-tin as well as the intricate manufacturing procedure required to produce them.

Get an overview of the market from industry experts to evaluate and develop growth strategies. Get your sample report here @ 
https://www.futuremarketinsights.com/reports/sample/rep-gb-17204

It is also challenging to run superconducting magnets in a practical context since their performance is so sensitive to temperature. These obstacles are stifling expansion in the market.

Increasing demand from end-use sectors including healthcare, research, and energy has created enough room for expansion in the superconducting magnets market. In addition, manufacturers have a great deal of room to expand due to factors such as:

  • Rising demand in many developing nations.
  • Increasing expenditures on research and development of high-performance superconducting magnets.

Future demand for superconducting magnets is anticipated to be driven by the proliferation of electric cars and the expanding market for renewable energy.

There have been several recent developments in the superconducting magnets sector. The need for high-temperature superconducting magnets is rising, which is a huge development. Because of their increased temperature tolerance, these magnets may be used in a wide range of applications.

Magnesium diboride and other novel materials are predicted to dramatically alter the market by lowering the price of superconducting magnets. Superconducting magnets are in high demand, and their popularity is projected to continue to rise in the future years.

Key Takeaways:

  • The United States is anticipated to continue its position as a prominent player in the superconducting magnets industry, with a predicted market size of US$ 776.3 Million by 2033.
  • By 2033, the demand for superconducting magnets in the United Kingdom is projected to reach a value of US$ 160.1 Million, expanding at a CAGR of 2.3%.
  • By 2033, the superconducting magnets market is likely to increase significantly in China, reaching a projected value of US$ 894.9 Million.
  • With a projected CAGR of 2.6% throughout the forecast period, Japan’s superconducting magnet market is expected to reach a market value of US$ 763.2 Million by 2033.
  • South Korea is anticipated to have consistent expansion in the superconducting magnets sector, with a predicted market value of US$ 183 Million by 2033.
  • With a market share of 57% in 2023, low-temperature superconducting magnets are likely to dominate the superconducting magnets industry.
  • With a market share of 36% in 2023, medical devices & equipment are expected to be the popular application segment.

Grow your profit margins – Buy this report now at a discounted price @ https://www.futuremarketinsights.com/checkout/17204

Competitive Landscape:

  • Agilent Technologies, Inc.
  • Bruker Corporation
  • Fujikura Ltd.
  • American Magnetics, Inc.
  • ASG Superconductors SpA

How Players are Revolutionizing the Industry with Their Developments?

The superconducting magnets industry is highly competitive, with several key players vying for dominance in the market. These key players are constantly innovating and investing in research and development to stay ahead of the competition.

Key players are focusing on expanding their product offerings, improving their distribution networks, and engaging in strategic partnerships and collaborations to maintain their position in the market. They are also investing considerably in developing new technologies and enhancing their existing ones to provide better performance and value to their customers. The industry also faces several challenges such as:

  • High costs associated with research and development
  • Stringent government regulations
  • The limited availability of rare earth materials needed to produce superconducting magnets.

These challenges can limit the growth and profitability of companies in the industry. New entrants in the market can take advantage of the opportunities presented by the increasing demand for superconducting magnets in various industries, including healthcare, energy, and transportation. They can also leverage advancements in technology to develop innovative products and gain a foothold in the market.

Key Segments Profiled:

By Type:

  • Low-temperature superconducting magnets
  • High-temperature superconducting magnets

By Application:

  • Medical Devices & Equipment
  • Mass Spectrometers
  • Transportation
  • Others

By Region:

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia
  • Oceania
  • The Middle East & Africa

Expand operations in the future – ask for a customized report @ https://www.futuremarketinsights.com/customization-available/rep-gb-17204

Table of Content (ToC):

1. Executive Summary

    1.1. Global Market Outlook

    1.2. Demand-side Trends

    1.3. Supply-side Trends

    1.4. Technology Roadmap Analysis

    1.5. Analysis and Recommendations

2. Market Overview

    2.1. Market Coverage / Taxonomy

    2.2. Market Definition / Scope / Limitations

3. Market Background

    3.1. Market Dynamics

    3.2. Scenario Forecast

    3.3. Opportunity Map Analysis

    3.4. Product Life Cycle Analysis

    3.5. Supply Chain Analysis

    3.6. Investment Feasibility Matrix

    3.7. Value Chain Analysis

    3.8. PESTLE and Porter’s Analysis

    3.9. Regulatory Landscape

    3.10. Regional Parent Market Outlook

    3.11. Production and Consumption Statistics

    3.12. Import and Export Statistics

4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033

    4.1. Historical Market Size Value (US$ Million) & Volume (Units) Analysis, 2018 to 2022

    4.2. Current and Future Market Size Value (US$ Million) & Volume (Units) Projections, 2023 to 2033

5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Type

    5.1. Introduction / Key Findings

    5.2. Historical Market Size Value (US$ Million) & Volume (Units) Analysis By Type, 2018 to 2022

    5.3. Current and Future Market Size Value (US$ Million) & Volume (Units) Analysis and Forecast By Type, 2023 to 2033

    5.4. Y-o-Y Growth Trend Analysis By Type, 2018 to 2022

    5.5. Absolute $ Opportunity Analysis By Type, 2023 to 2033

6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Application

    6.1. Introduction / Key Findings

    6.2. Historical Market Size Value (US$ Million) & Volume (Units) Analysis By Application, 2018 to 2022

    6.3. Current and Future Market Size Value (US$ Million) & Volume (Units) Analysis and Forecast By Application, 2023 to 2033

    6.4. Y-o-Y Growth Trend Analysis By Application, 2018 to 2022

    6.5. Absolute $ Opportunity Analysis By Application, 2023 to 2033

Explore FMI’s Extensive Coverage in Industrial Automation Domain:

Industrial Robotics Market Review: The global industrial robotics market is estimated to surpass US$ 220 Billion by the end of 2033. The market is rising at a CAGR of 18.9% during the forecast period 2023 to 2033.

Collaborative Robots Market Size: The global collaborative robots demand is subjected to register a CAGR of 25.1%. The market revenue is likely to be valued at US$ 2.2 Billion in 2023 and exhibit a revenue growth of US$ 20.5 Billion by 2033.

Carbide Tools Market Share: Sales in the global carbide tools market are slated to top US$ 7.6 Billion in 2023. Expanding at a healthy 7.1% CAGR, the market size is projected to total US$ 15 Billion by 2033.

Polymer Seals Market Overview: The global polymer seals market was estimated to have reached a value of US$ 11.3 Billion in 2022. From 2022 to 2032, the market is projected to expand at a CAGR of 5.1% to reach a valuation of US$ 18.7 Billion in 2032.

Gaskets and Seals Market Keytrends: The gaskets and seals market has witnessed a CAGR of 5.4%, from 2018 to 2022 to achieve US$ 86.6 billion by 2023. The gaskets and seals market has been driven by the surging demand for optimization of friction, sealing function, and abrasion resistance.

Auger Filler Market Research: According to Future Market Insights research, during the projected period, the global Auger Filler market is set to enjoy a valuation of US$ 1,723.2 Million in 2023, and register a robust CAGR of 5.4% from 2023 to 2033.

Run Flat Tire Inserts Market Forecast: According to Future Market Insights, the global run-flat tire inserts market will be valued at US$ 505.4 Million in 2023 and will increase at a CAGR of 5.8% from 2023 to 2033.

Unmanned Aerial Vehicle Market Growth: The Global Unmanned Aerial Vehicles Market is projected to reach US$ 76,083.5 Million in 2033. The rapid technological advancement of defense technologies, increased demand for military applications, demand for advanced surveillance solutions, and rise in commercial applications.

High Pressure Processing Equipment Market Analysis: The global high-pressure processing equipment market size is valued at US$ 333.9 Million in 2023 and is expected to reach a valuation of US$ 1.1 Billion by 2033. The market is likely to register a growth rate of 12.8% through the forecast period.

Plucker Machine Market Demand: The plucker machine market has a worth of US$ 1,593 Million in 2023 and is projected to reach US$ 2,474 Million by 2033, with a CAGR of 4.5% during the forecast period.

About Future Market Insights, Inc.

Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization, and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel, and End Use over the next 10 years.

Contact Us:

Future Market Insights, Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
LinkedInTwitter | Blogs | YouTube
For Sales Enquiries: [email protected]


Primary Logo



Originally published at https://www.einpresswire.com/article/634587202/global-superconducting-magnets-industry-is-expected-to-be-worth-us-us-4-3-billion-at-a-cagr-of-2-6-by-forecast-period-2033-end-future-market