Middle East & Africa Superconductor Market Forecast to 2028 – COVID

Middle East & Africa 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 : BMIRE00026150 | Region : LAMEA | Industry : Electronics and Semiconductor | Published Date : 20/Sep/2022

The superconductor market in Middle East & Africa is expected to grow from US$ 258.23 million in 2022 to US$344.51 million by 2028. It is estimated to grow at a CAGR of 4.9% from 2022 to 2028.

Superconducting processors may become an essential component of the next generation of supercomputers. They could, for starters, assist in overcoming the major issue of scaling up quantum computers. Second, they might significantly improve the performance of classic supercomputers while drastically reducing their power usage. A multidisciplinary research initiative will address one of the primary obstacles of this approach, data transport to and from low temperatures required for superconductivity. 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 both performance and power consumption. Thus, the increase in superconducting chips to scale up quantum computers and supercomputers is driving the superconductors market.

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

iddle East & Africa Superconductor Market Revenue and Forecast to 2028 (US$ Million)

Middle East & Africa Superconductor Market Segmentation

The Middle East & Africa 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 South Africa, Saudi Arabia, the UAE, and the Rest of the MEA. In 2022, the UAE held a larger market share. On the other side, and Saudi Arabia is expected to register a higher CAGR during the forecast period.

American Superconductor; Bruker; FURUKAWA ELECTRIC CO., LTD.; Hitachi, Ltd.; Sumitomo Electric Industries, Ltd.; FUJI ELECTRIC CO., LTD.; Toshiba Corporation; and Cryomagnetics are among the leading companies in the Middle East & Africa superconductor market.

At 4.9% CAGR, the Middle East & Africa Superconductor Market is speculated to be worth US$ 344.51 million by 2028, says The Insight Partners

According to The Insight Partners’ research, the Middle East & Africa superconductor market was valued at US$ 258.23 million in 2022 and is expected to reach US$ 344.51 million by 2028, registering an annual growth rate of 4.9% from 2022 to 2028. Broadening use of MRI technology and superconducting chips to scale-up quantum computers and boost supercomputers.

MRI examinations are described as "safe" because the method is non-invasive and does not use ionizing radiation to produce the images. The MRI scan looks so benign compared to the majority of other diagnostic techniques used in hospitals and clinics that it could be regarded as harmless and safe. By setting operational limits of the scanner's hardware to such a wide safety margin that the risk of harm to a scanned patient was tiny enough to be easily controllable, any potentially dangerous side effects of MRI technology have been kept in check. The newest MRI scanners are pushing the operational characteristics of hardware in their quest for better image quality and faster imaging to the point where the safety margin is no longer large enough to permit scanning of any patient without the need for detailed inspection of safety issues for each patient, each exam, and each scanning sequence. The final section of this essay focuses on how modern technology affects preserving the security of patients who have been scanned. The hazards are actual, and they are more than most people realize for specific patients and scanning settings. The MRI market is expanding due to improvements in diagnostic methods, such as open MRI, visualization software, and superconducting magnets. Most of the recent improvements in MRI technology are related to the software. The development of MRI systems that are compatible with cardiac pacemakers is anticipated to boost the market's expansion in the cardiology sector. Furthermore, different paramagnetic contrast agents, including gadolinium-DTPA, are injected intravenously to provide clear, correct images more quickly. These advancements in MRI technology are fueling its usage in the medical industry, which is driving the superconductor's market substantially.

On the contrary, scarcity of standard testing facilities.

Based on type, the Middle East & Africa superconductor market is segmented into low temperature superconductors and high temperature superconductors. The low temperature superconductors segment held 61.9% market share in 2022, amassing US$ 159.97 million. It is projected to garner US$ 198.49 million by 2028 to expand at 3.7% CAGR during 2022–2028.

Based on application, the Middle East & Africa superconductor market is segmented into medical, electronics, defense and military, and others. The medical segment held 46.5% market share in 2022, amassing US$ 120.12 million. It is projected to garner US$ 168.88 million by 2028 to expand at 5.8% CAGR during 2022–2028.

Based on country, the Middle East & Africa superconductor market has been segmented into South Africa, Saudi Arabia, the UAE, and Rest of MEA. Our regional analysis states that the UAE captured 36.5% market share in 2022. It was assessed at US$ 94.24 million in 2022 and is likely to hit US$ 123.64 million by 2028, exhibiting a CAGR of 4.6% during the forecast period.

Key players dominating the Middle East & Africa superconductor market are American Superconductor; Bruker; FURUKAWA ELECTRIC CO., LTD.; Hitachi, Ltd.; 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. Contact Us

Contact Person: Sameer Joshi

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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. Middle East & Africa Superconductors Market Landscape

4.1 Market Overview

4.2 PEST Analysis

4.3 Ecosystem Analysis

4.4 Expert Opinions

5. Middle East & Africa Superconductors Market – Key Market Dynamics

5.1 Market Drivers

5.1.1 Boosting Use of MRI Technology

5.1.2 Superconducting Chips to Scale-up Quantum Computers and Boost Supercomputers

5.2 Market Restraints

5.2.1 Scarcity 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. Middle East & Africa Superconductors Market Analysis

6.1 Middle East & Africa Superconductors Market Overview

6.2 Middle East & Africa Superconductors Market Revenue Forecast and Analysis

7. Middle East & Africa Superconductors Market Analysis – By Type

7.1 Overview

7.2 Middle East & Africa 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. Middle East & Africa Superconductors Market – By Application

8.1 Overview

8.2 Middle East & Africa 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. Middle East & Africa Superconductors Market – Country Analysis

9.1 Overview

9.1.1 MEA: Superconductors Market, by Key Country

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

9.1.1.1.1 South Africa: Superconductors Market, by Type

9.1.1.1.2 South Africa: Superconductors Market, by Application

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

9.1.1.2.1 Saudi Arabia: Superconductors Market, by Type

9.1.1.2.2 Saudi Arabia: Superconductors Market, by Application

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

9.1.1.3.1 UAE: Superconductors Market, by Type

9.1.1.3.2 UAE: Superconductors Market, by Application

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

9.1.1.4.1 Rest of MEA: Superconductors Market, by Type

9.1.1.4.2 Rest of MEA: 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 Sumitomo Electric Industries, Ltd.

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 Toshiba Corporation

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 Cryomagnetics

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 FUJI ELECTRIC CO., LTD.

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

12. Appendix

12.1 About The Insight Partners

12.2 Word Index

LIST OF TABLES.

Table 1.             Middle East & Africa Superconductors Market Revenue and Forecast to 2028 (US$ Million)

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

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

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

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

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

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

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

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

Table 10.          List of Abbreviation

LIST OF FIGURES.

Figure 1.           Middle East & Africa Superconductors Market Segmentation

Figure 2.           Middle East & Africa Superconductors Market Segmentation – By Country

Figure 3.           Middle East & Africa Superconductors Market Overview

Figure 4.           Middle East & Africa Superconductors Market, by Type

Figure 5.           Middle East & Africa Superconductors Market, by Country

Figure 6.           Middle East & Africa – PEST Analysis

Figure 7.           Middle East & Africa Superconductors Market- Ecosystem Analysis

Figure 8.           Middle East & Africa superconductors Market: Impact Analysis of Drivers and Restraints

Figure 9.           Middle East & Africa Superconductors Market Revenue Forecast and Analysis (US$ Million)

Figure 10.        Middle East & Africa 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.        Middle East & Africa 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 Middle East & Africa Superconductors Market

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

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

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

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

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

The List of Companies - Middle East & Africa Superconductor Market

● American Superconductor

● Bruker

● FURUKAWA ELECTRIC CO., LTD.

● Hitachi, Ltd.

● Sumitomo Electric Industries, Ltd.            

● Toshiba Corporation

● Cryomagnetics

● FUJI ELECTRIC CO., LTD.

● Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the Middle East & Africa 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 Middle East & Africa 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 Middle East & Africa 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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