Report : South & Central America 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 3.3% CAGR, the South & Central America Superconductor Market is speculated to be worth US$ 194.87 million by 2028, says Business Market Insights
According to Business Market Insights’ research, the South & Central America superconductor market was valued at US$ 160.03 million in 2022 and is expected to reach US$ 194.87 million by 2028, registering an annual growth rate of 3.3% from 2022 to 2028. Powerful superconducting magnet for next generation light sources and superconductivity paves the way for new quantum materials.
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. By draining the energy released by electrons as they move around inside a storage ring, light sources like the APS produce beams of photons (light particles). The devices that transform that energy into 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 of 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.
On the contrary, lack of standard testing facilities.
Based on type, the South & Central America superconductor market is segmented into low temperature superconductors and high temperature superconductors. The low temperature superconductors segment held 60.9% market share in 2022, amassing US$ 97.46 million. It is projected to garner US$ 111.95 million by 2028 to expand at 6.1% CAGR during 2022–2028.
Based on application, the South & Central America superconductor market is segmented into medical, electronics, defense and military, and others. The medical segment held 45.1% market share in 2022, amassing US$ 72.13 million. It is projected to garner US$ 92.03 million by 2028 to expand at 4.1% CAGR during 2022–2028.
Based on country, the South & Central America superconductor market has been segmented into Brazil, Argentina, and Rest of SAM. Our regional analysis states that Brazil captured 75.0% market share in 2022. It was assessed at US$ 120.03 million in 2022 and is likely to hit US$ 149.15 million by 2028, exhibiting a CAGR of 3.7% during the forecast period.
Key players dominating the South & Central America 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.
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