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$ 4.75 Billion Incremental Growth Expected in Global Superconductor Market During 2020-2024 | 62% Growth to Come From APAC | Technavio

December 17, 2020 GMT

LONDON--(BUSINESS WIRE)--Dec 17, 2020--

The superconductor market is expected to grow by USD 4.75 billion, progressing at a CAGR of almost 11% during the forecast period.

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Technavio has announced its latest market research report titled Global Superconductor Market 2020-2024 (Graphic: Business Wire)

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The development of smart grids is one of the major factors propelling market growth. However, factors such as the high cost of HTS wires will hamper market growth.

More details: https://www.technavio.com/report/superconductor-market-industry-analysis

Superconductor Market: Product Landscape

Based on the product, the market saw maximum growth in the superconducting magnets segment in 2019. The growth of this segment can be attributed to the extensive use of superconducting magnets in MRI systems. Besides, continuous R&D efforts in superconducting materials and magnets are further driving the growth of the segment. The market growth in the segment will be significant over the forecast period.

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Superconductor Market: Geographic Landscape

By geography, APAC is going to witness lucrative growth during the forecast period. About 62% of the market’s overall growth is expected to originate from APAC. Factors such as rising investments in the development of power grids, grid expansion and modernization activities, and the increasing focus on renewable energy sources are driving the growth of the market in APAC. China and Japan are the key markets for superconductors in APAC.

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Companies Covered:

  • American Superconductor Corp.
  • BASF SE
  • Bruker Corp.
  • Furukawa Electric Co. Ltd.
  • Hitachi Ltd.
  • Kobe Steel Ltd.
  • Mitsubishi Corp.
  • Siemens AG
  • Southwire Co. LLC
  • Sumitomo Electric Industries Ltd.

What our reports offer:

  • Market share assessments for the regional and country-level segments
  • Strategic recommendations for the new entrants
  • Covers market data for 2019, 2020, until 2024
  • Market trends (drivers, opportunities, threats, challenges, investment opportunities, and recommendations)
  • Strategic recommendations in key business segments based on the market estimations
  • Competitive landscaping mapping the key common trends
  • Company profiling with detailed strategies, financials, and recent developments
  • Supply chain trends mapping the latest technological advancements

Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio’s in-depth research has direct and indirect COVID-19 impacted market research reports.

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Key Topics Covered:

Executive Summary

Market Landscape

  • Market ecosystem
  • Value chain analysis

Market Sizing

  • Market definition
  • Market segment analysis
  • Market size 2019
  • Market outlook: Forecast for 2019 - 2024

Five Forces Analysis

  • Five forces summary
  • Bargaining power of buyers
  • Bargaining power of suppliers
  • Threat of new entrants
  • Threat of substitutes
  • Threat of rivalry
  • Market condition

Market Segmentation by Product

  • Comparison by Product
  • Magnets - Market size and forecast 2019-2024
  • Cables - Market size and forecast 2019-2024
  • Transformers - Market size and forecast 2019-2024
  • Energy storage devices - Market size and forecast 2019-2024
  • Market opportunity by Product

Customer landscape

Geographic Landscape

  • Geographic segmentation
  • Geographic comparison
  • APAC - Market size and forecast 2019-2024
  • North America - Market size and forecast 2019-2024
  • Europe - Market size and forecast 2019-2024
  • South America - Market size and forecast 2019-2024
  • MEA - Market size and forecast 2019-2024
  • Key leading countries
  • Market opportunity by geography
  • Market drivers
  • Market challenges
  • Market trends

Vendor Landscape

  • Overview
  • Landscape disruption

Vendor Analysis

  • Vendors covered
  • Market positioning of vendors
  • American Superconductor Corp.
  • BASF SE
  • Bruker Corp.
  • Furukawa Electric Co. Ltd.
  • Hitachi Ltd.
  • Kobe Steel Ltd.
  • Mitsubishi Corp.
  • Siemens AG
  • Southwire Co. LLC
  • Sumitomo Electric Industries Ltd.

Appendix

  • Scope of the report
  • Currency conversion rates for US$
  • Research methodology
  • List of abbreviations

About Us

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

View source version on businesswire.com:https://www.businesswire.com/news/home/20201216005970/en/

CONTACT: Technavio Research

Jesse Maida

Media & Marketing Executive

US: +1 844 364 1100

UK: +44 203 893 3200

Email:media@technavio.com

Website:www.technavio.com/ 

KEYWORD:

INDUSTRY KEYWORD: TECHNOLOGY SEMICONDUCTOR

SOURCE: Technavio Research

Copyright Business Wire 2020.

PUB: 12/17/2020 02:00 AM/DISC: 12/17/2020 02:01 AM

http://www.businesswire.com/news/home/20201216005970/en