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This market research report identifies Siemens, Sumitomo Electric Industries, and Columbus Superconductors as the key vendors in the global superconducting magnets market. This report also presents a detailed analysis of the market by application (medical devices and equipment, mass spectrometers, transportation, and others) and by geography (the Americas, APAC, and EMEA).
Technavio’s market research report predicts that the global superconducting magnets market will grow steadily during the next four years and post an impressive revenue of almost USD 4 billon by 2021. Th trend of energizing the large-scale wind power with compact superconductor-based generators will be one of the primary drivers for market growth. The development of taller and more powerful wind turbines offer a larger return on investments (ROI). For instance, a 10% raise in tower height leads to a 33% growth in available energy. Off-shore wind turbines offer better potential when it comes to electricity generation. Therefore, the need for excessive moorings and support structures has risen. The only substitute to wind turbines that generate a power of 10MW and higher are the superconducting generators since these generators offer improved results compared to heavy conventional solutions. This will in turn, fuel the grwoth of the market superconducting magnets market.
The rising significance of superconducting magnetic energy storage (SMES) systems is one of the latest trends that will drive the growth of the market in the future. The market for SMES systems is predicted to intensify due to the rising adoption of distributed utilities. Public and private organizations are funding SMES research projects and numerous universities and labs are concentrating on the development of enhanced devices based on this technology. Vendors are investing in the development of improved SMES systems with larger power storage capacities to keep up with the boosting demand for large-scale energy storage applications.
The vendors in the superconducting magnets market are expected to provide an extensive range of products with the high-performance properties of HTS superconductors. Moreover, superconducting magnets are also utilized for research and experimentation purposes, which is also anticipated to become one of the revenue generating sectors for the vendors operating in the market. Also, the entry of new players in the market is likely to change the market’s competitive environment that is characterized by constant technological changes and new applications.
Key vendors in the market are:
Other prominent vendors include Agilent Technologies, American Magnetics, and Bruker.
During 2016, the medical devices and equipment segment dominated the superconducting magnet market and is expected to continue its dominance over the next four years. The increased utilization of the medical devices such as MRI scanner, positron emission tomography (PET) scanner, and functional imaging due to their benefits will be a major factor driving the segment’s growth in this global market.
In terms of geography, APAC dominated the superconducting magnets market during 2016 and is foreseen to continue the domination during the forecast period. The increasing demand for freight transport, fluctuation in fuel costs, and the rising congestions on roadways will induce freight operators in the region to prefer electric locomotives, which in turn, will drive the growth of the market.
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A superconducting magnet is a type of electromagnet manufactured out of wires made of superconductors and are capable of producing great magnetic fields in the applications of scientific equipment. This upcoming report by Technavio is an integral part of the hardware and semiconductor industry and offers an intricate study of rapidly growing sectors like semiconductor equipment, displays, and embedded systems. Additionally, to help clients gain a competitive edge over other market players, Technavio offers vital information on the key market drivers and challenges, and also provides detailed information on all the vendors who hold significant positions in the hardware and semiconductor industry.
To accurately forecast the semiconductor industry’s growth outlook, our market research specialists follow a structured approach of primary and secondary research techniques and also carry out an in-depth analysis based on several market elements, including advancements in technology and the demand for products and services across different geographical boundaries. With an aim to help clients frame new strategies for growth, our upcoming industry research report on global superconducting magnet market for the forecast period of 2017 to 2021 proposes actionable insights devised from data collected from reliable sources such as manufacturers, channel partners, regulatory bodies, and decision makers.
This upcoming report on global superconducting magnet market also takes into aspect the growth of related markets like semiconductor chip packaging and semiconductor micro-components, which are expected to grow at a CAGR of about 31% and almost 2%, respectively by 2021. As observed by our team of market research analysts, the rapid increase in demand for semiconductor chips owing to its augmented adoption in automobiles will be one of the crucial factors driving the semiconductor equipment market’s growth in the coming years. Based on the individual requirements of a variety of clients, Technavio also provides customized reports, which will help local vendors and global players targeting niche customer segments ratify their presence in the hardware and semiconductor industry.
The upcoming industry research report for superconducting magnet market highlights the key drivers, prospective trends, and the trials currently experienced by the semiconductor equipment industry and also presents a holistic overview into the markets of human-machine interface, computing devices, and sensors.
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
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This report is available in English.
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