Report : 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)
At 10.0% CAGR, the Asia Pacific Superconductor Market is speculated to be worth US$ 3,014.48 million by 2028, says Business Market Insights
According to Business Market Insights’ 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.
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