The superconductor market will register a CAGR of over 11% by 2023

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LONDON, March 19, 2019 — About this market

The increased adoption of superconductor devices in medical applications is the key factors driving the global superconductor market growth. Many medical devices such as MRI imaging devices are integrated with HTS cables and superconducting magnets to generate high magnetic fields. Therefore, several manufacturers are focusing on advances in superconducting technologies to improve the overall performance of their systems. This will fuel the growth of the global superconductor market during the forecast period. Analysts have predicted that the superconductor market will register a CAGR of over 11% by 2023.

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Market Overview

Development of smart grids

One of the growth drivers of the global superconductor market is the development of smart grids. Smart grids are reliable in providing real-time information and are also helpful in efficiently managing the power supply during an emergency.

The high cost of HTS wires

One of the challenges in the growth of the market is the high cost of HTS wires. HTS wires signify more than half the cost of the device into which it is incorporated. This will hamper the superconductor market growth during the forecast period.

For the detailed list of factors that will drive and challenge the growth of the superconductor market during 2019-2023, view our report.

Competitive Landscape

The market appears to be highly concentrated and with the presence of few vendors. The vendors in the market are focusing on developing core technology for superconductor devices. This market research report will help clients identify new growth opportunities and design unique growth strategies by providing a comprehensive analysis of the market’s competitive landscape and offering information on the products offered by companies.

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