Asia Pacific Superconductor Market Forecast to 2028 – COVID

Asia Pacific Superconductor Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Type (Low-Temperature Superconductors and High-Temperature Superconductors) and Application (Medical, Electronics, Defense & Military, and Others)

Report Code : BMIRE00025974 | Region : Asia Pacific | Industry : Electronics and Semiconductor | Published Date : 16/Sep/2022

The superconductor market in Asia Pacific is expected to grow from US$ 1,699.81 million in 2022 to US$ 3,014.48 million by 2028. It is estimated to grow at a CAGR of 10.0% from 2022 to 2028.

These previously thought these things impossible with a powerful enough light source. Large-scale light source facilities produce this strong light, and scientists use it to develop stronger materials, make computers and batteries more effective, and understand the natural world. When it comes to building these massive facilities, space is money. If you can get higher-energy beams of light out of smaller devices, they can save millions on construction costs. Additionally, they have created a brand-new, cutting-edge, half-meter-long prototype magnet that satisfies the standards for usage in the present and future light source facilities and has been extensively tested. This material is ideal for creating what is known as undulator magnets because it can produce strong magnetic fields while remaining in a superconducting condition, which means it offers no resistance to the current flowing through it.

Draining the energy electrons release as they move around inside a storage ring, light sources, such as the APS, produce beams of photons (light particles). The devices that transform that energy into the light are known as undulator magnets, and the higher the magnetic field you can produce with them, the more photons you can produce from a given size device. However, Scientists at DOE national laboratories have created and tested an enhanced, more powerful superconducting magnet built of niobium and tin for use in the next generation of light sources after more than 15 years of development. Thus, the growing trend of the powerful superconducting magnet for next-generation light sources is expected to aid the growth of the superconductors market during the forecast period.

With new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the Asia Pacific superconductor market at a substantial CAGR during the forecast period.

Asia Pacific Superconductor Market Revenue and Forecast to 2028 (US$ Million)

Asia Pacific Superconductor Market Segmentation

The Asia Pacific superconductor market is segmented on the basis of type, application, and country. Based on type, the market is segmented into low-temperature superconductors and high-temperature superconductors. In 2022, the low-temperature superconductors segment held a larger market share. On the other hand, the high temperature superconductors are expected to register a higher CAGR during the forecast period.

Based on application, the market is segmented into medical, electronics, defense and military, and others. The medical segment held the largest market share in 2022 and is also expected to register the highest CAGR in the market during the forecast period.

Based on country, the market is segmented into Australia, China, India, Japan, South Korea, and the Rest of APAC. In 2022, China held a larger market share. On the other side, and it is also expected to register a higher CAGR during the forecast period.

Caterpillar Inc.; CNH Industrial N.V.; Komatsu Ltd.; Liebherr; Terex Corporation; Zoomlion Heavy Industry Science & Technology Co., Ltd.; J C Bamford Excavators Ltd. (JCB); Deere & Company; AB Volvo; and Hitachi Construction Machinery Co., Ltd. are the leading companies in the Asia Pacific superconductor market.

At 10.0% CAGR, the Asia Pacific Superconductor Market is speculated to be worth US$ 3,014.48 million by 2028, says The Insight Partners

According to The Insight Partners’ research, the Asia Pacific superconductor market was valued at US$ 1,699.81 million in 2022 and is expected to reach US$ 3,014.48 million by 2028, registering an annual growth rate of 10.0% from 2022 to 2028. Superconductivity paves the way for new quantum materials and powerful superconducting magnet for next generation light sources.

Superconductors are materials with zero electrical resistance, commonly requiring extremely low temperatures. They are applied in various domains, from medical applications to a central role in quantum computers. Superconductivity is caused by especially linked pairs of electrons known as cooper pairs. So far, the occurrence of Cooper pairs has been measured indirectly macroscopically in bulk, but a new technique developed by researchers can detect their occurrence with atomic precision. They studied the electrical current flowing between an atomically sharp metallic tip and a superconductor and how the current changed depending on how far apart the tip and superconductor were from one another. They could do so while preserving imaging resolution that was on par with that of individual atoms, enabling them to measure the quantity of Andreev's reflection returning to the superconductor. Further, this strategy creates a crucial new methodology for comprehending the internal quantum structure of unusual superconductors, also known as unconventional superconductors. It may enable us to address several important issues in quantum materials. The development of superconductivity at room temperature may be made possible by unconventional superconductors, which are also a potential fundamental building block for quantum computers. In unusual superconductors, cooper pairs feature unique internal structures that have proven difficult to comprehend. As a result, the new quantum material is likely to create new opportunities for the superconductors market over the forecast period.

On the contrary, inadequacy of standard testing facilities.

Based on type, the Asia Pacific superconductor market is segmented into low temperature superconductors and high temperature superconductors. The low temperature superconductors segment held 64.2% market share in 2022, amassing US$ 1,091.33 million. It is projected to garner US$ 1,754.27 million by 2028 to expand at 8.2% CAGR during 2022–2028.

Based on application, the Asia Pacific superconductor market is segmented into medical, electronics, defense and military, and others. The medical segment held 49.5% market share in 2022, amassing US$ 840.97 million. It is projected to garner US$ 1,591.08 million by 2028 to expand at 11.2% CAGR during 2022–2028.

Based on country, the Asia Pacific superconductor market has been segmented into Australia, China, India, Japan, South Korea, and Rest of APAC. Our regional analysis states that China captured 30.9% market share in 2022. It was assessed at US$ 525.38 million in 2022 and is likely to hit US$ 997.79 million by 2028, exhibiting a CAGR of 11.3% during the forecast period.

Key players dominating the Asia Pacific superconductor market are American Superconductor; Bruker; FURUKAWA ELECTRIC CO., LTD.; Hitachi, Ltd.; Japan Superconductor Technology, Inc.; Sumitomo Electric Industries, Ltd.; FUJI ELECTRIC CO., LTD.; Toshiba Corporation; and Cryomagnetics among others.

In November 2018, Allegheny Technologies Inc., Pittsburgh, and Bruker Energy & Supercon Technologies (BEST), a fully owned subsidiary of Bruker Corp., have announced a cooperative technological development agreement to enhance cutting-edge niobium-based superconductors. These include those used in medical magnetic resonance imaging and preclinical MRI magnets in the life-science instruments business. In March 2021, Hitachi has developed a 1.1-m-diameter magnesium diboride (MgB2) superconducting magnet that can rapidly generate a magnetic field space as required for magnetic resonance imaging (MRI) examinations and has demonstrated that MRI imaging of the head region can begin in 10 minutes from a zero-field state, compared to 1 to 2 hours using conventional equipment.

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. Asia Pacific Superconductors Market Landscape

4.1 Market Overview

4.2 PEST Analysis

4.3 Ecosystem Analysis

4.4 Expert Opinions

5. Asia Pacific Superconductors Market – Key Market Dynamics

5.1 Market Drivers

5.1.1 Surging Implementation of Safety and Environmental Management System

5.1.2 Heighten Use of MRI Technology

5.2 Market Restraints

5.2.1 Inadequacy 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. Asia Pacific Superconductors Market Analysis

6.1 Asia Pacific Superconductors Market Overview

6.2 Asia Pacific Superconductors Market Revenue Forecast and Analysis

7. Asia Pacific Superconductors Market Analysis – By Type

7.1 Overview

7.2 Asia Pacific Superconductors Market, by Type

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. Asia Pacific Superconductors Market – By Application

8.1 Overview

8.2 Asia Pacific Superconductors Market, by Application

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. Asia Pacific Superconductors Market – Country Analysis

9.1 Overview

9.1.1 Asia Pacific: Superconductors Market, by Key Country

9.1.1.1 Australia: Superconductors Market – Revenue and Forecast to 2028 (US$ Million)

9.1.1.1.1 Australia: Superconductors Market, by Type

9.1.1.1.2 Australia: Superconductors Market, by Application

9.1.1.2 China: Superconductors Market – Revenue and Forecast to 2028 (US$ Million)

9.1.1.2.1 China: Superconductors Market, by Type

9.1.1.2.2 China: Superconductors Market, by Application

9.1.1.3 India: Superconductors Market – Revenue and Forecast to 2028 (US$ Million)

9.1.1.3.1 India: Superconductors Market, by Type

9.1.1.3.2 India: Superconductors Market, by Application

9.1.1.4 Japan: Superconductors Market – Revenue and Forecast to 2028 (US$ Million)

9.1.1.4.1 Japan: Superconductors Market, by Type

9.1.1.4.2 Japan: Superconductors Market, by Application

9.1.1.5 South Korea: Superconductors Market – Revenue and Forecast to 2028 (US$ Million)

9.1.1.5.1 South Korea: Superconductors Market, by Type

9.1.1.5.2 South Korea: Superconductors Market, by Application

9.1.1.6 Rest of APAC: Superconductors Market – Revenue and Forecast to 2028 (US$ Million)

9.1.1.6.1 Rest of APAC: Superconductors Market, by Type

9.1.1.6.2 Rest of APAC: Superconductors Market, by Application

10. Industry Landscape

10.1 Overview

10.2 Market Initiative

10.3 New Product Development

11. Company Profiles

11.1 American Superconductor

11.1.1 Key Facts

11.1.2 Business Description

11.1.3 Products and Services

11.1.4 Financial Overview

11.1.5 SWOT Analysis

11.1.6 Key Developments

11.2 Bruker

11.2.1 Key Facts

11.2.2 Business Description

11.2.3 Products and Services

11.2.4 Financial Overview

11.2.5 SWOT Analysis

11.2.6 Key Developments

11.3 FURUKAWA ELECTRIC CO., LTD.

11.3.1 Key Facts

11.3.2 Business Description

11.3.3 Products and Services

11.3.4 Financial Overview

11.3.5 SWOT Analysis

11.3.6 Key Developments

11.4 Hitachi, Ltd.

11.4.1 Key Facts

11.4.2 Business Description

11.4.3 Products and Services

11.4.4 Financial Overview

11.4.5 SWOT Analysis

11.4.6 Key Developments

11.5 Japan Superconductor Technology, Inc.

11.5.1 Key Facts

11.5.2 Business Description

11.5.3 Products and Services

11.5.4 Financial Overview

11.5.5 SWOT Analysis

11.5.6 Key Developments

11.6 Sumitomo Electric Industries, Ltd.

11.6.1 Key Facts

11.6.2 Business Description

11.6.3 Products and Services

11.6.4 Financial Overview

11.6.5 SWOT Analysis

11.6.6 Key Developments

11.7 Toshiba Corporation

11.7.1 Key Facts

11.7.2 Business Description

11.7.3 Products and Services

11.7.4 Financial Overview

11.7.5 SWOT Analysis

11.7.6 Key Developments

11.8 Cryomagnetics

11.8.1 Key Facts

11.8.2 Business Description

11.8.3 Products and Services

11.8.4 Financial Overview

11.8.5 SWOT Analysis

11.8.6 Key Developments

11.9 FUJI ELECTRIC CO., LTD.

11.9.1 Key Facts

11.9.2 Business Description

11.9.3 Products and Services

11.9.4 Financial Overview

11.9.5 SWOT Analysis

11.9.6 Key Developments

12. Appendix

12.1 About The Insight Partners

12.2 Word Index

LIST OF TABLES.

Table 1.             Asia Pacific Superconductors Market Revenue and Forecast to 2028 (US$ Million)

Table 2.             Australia: Superconductors Market, by Type – Revenue and Forecast to 2028 (US$ Million)

Table 3.             Australia: Superconductors Market, by Application– Revenue and Forecast to 2028 (US$ Million)

Table 4.             China: Superconductors Market, by Type – Revenue and Forecast to 2028 (US$ Million)

Table 5.             China: Superconductors Market, by Application– Revenue and Forecast to 2028 (US$ Million)

Table 6.             India: Superconductors Market, by Type– Revenue and Forecast to 2028 (US$ Million)

Table 7.             India: Superconductors Market, by Application– Revenue and Forecast to 2028 (US$ Million)

Table 8.             Japan: Superconductors Market, by Type– Revenue and Forecast to 2028 (US$ Million)

Table 9.             Japan: Superconductors Market, by Application– Revenue and Forecast to 2028 (US$ Million)

Table 10.          South Korea: Superconductors Market, by Type – Revenue and Forecast to 2028 (US$ Million)

Table 11.          South Korea: Superconductors Market, by Application– Revenue and Forecast to 2028 (US$ Million)

Table 12.          Rest of APAC: Superconductors Market, by Type– Revenue and Forecast to 2028 (US$ Million)

Table 13.          Rest of APAC: Superconductors Market, by Application – Revenue and Forecast to 2028 (US$ Million)

Table 14.          List of Abbreviation

LIST OF FIGURES.

Figure 1.           Asia Pacific Superconductors Market Segmentation

Figure 2.           Asia Pacific Superconductors Market Segmentation – By Country

Figure 3.           Asia Pacific Superconductors Market Overview

Figure 4.           Asia Pacific Superconductors Market, by Type

Figure 5.           Asia Pacific Superconductors Market, by Country

Figure 6.           Asia Pacific – PEST Analysis

Figure 7.           Asia Pacific Superconductors Market- Ecosystem Analysis

Figure 8.           Asia Pacific Superconductors Market: Impact Analysis of Drivers and Restraints

Figure 9.           Asia Pacific Superconductors Market Revenue Forecast and Analysis (US$ Million)

Figure 10.        Asia Pacific Superconductors Market Revenue Share, by Type (2021 and 2028)

Figure 11.        Low Temperature Superconductors: Superconductors Market – Revenue and Forecast to 2028 (US$ Million)

Figure 12.        High Temperature Superconductors: Superconductors Market – Revenue and Forecast to 2028 (US$ Million)

Figure 13.        Asia Pacific Superconductors Market Revenue Share, by Application (2021 and 2028)

Figure 14.        Medical: Superconductors Market – Revenue and Forecast to 2028 (US$ Million)

Figure 15.        Electronics: Superconductors Market – Revenue and Forecast to 2028 (US$ Million)

Figure 16.        Defense & Military: Superconductors Market – Revenue and Forecast to 2028 (US$ Million)

Figure 17.        Others: Superconductors Market – Revenue and Forecast to 2028 (US$ Million)

Figure 18.        Geographic Overview of Asia Pacific Superconductors Market

Figure 19.        Asia Pacific: Superconductors Market Revenue Share, by Key Country (2021 and 2028)

Figure 20.        Australia: Superconductors Market – Revenue and Forecast to 2028 (US$ Million)

Figure 21.        China: Superconductors Market – Revenue and Forecast to 2028 (US$ Million)

Figure 22.        India: Superconductors Market – Revenue and Forecast to 2028 (US$ Million)

Figure 23.        Japan: Superconductors Market – Revenue and Forecast to 2028 (US$ Million)

Figure 24.        South Korea: Superconductors Market – Revenue and Forecast to 2028 (US$ Million)

Figure 25.        Rest of APAC: Superconductors Market – Revenue and Forecast to 2028 (US$ Million)

The List of Companies - Asia Pacific Superconductor Market

● American Superconductor

● Bruker

● FURUKAWA ELECTRIC CO., LTD.

● Hitachi, Ltd.

● Sumitomo Electric Industries, Ltd.            

● Toshiba Corporation

● Cryomagnetics

● FUJI ELECTRIC CO., LTD.                                         

● Japan Superconductor Technology, Inc.

● Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the Asia Pacific superconductor 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 Asia Pacific superconductor 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 Asia Pacific market trends and outlook coupled with the factors driving the superconductor 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

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