Global Market for Superconductivity Applications to Reach $4.2 billion in 2019
Wellesley, Mass. (PRWEB) November 04, 2014
BCC Research (http://www.bccresearch.com) reveals in its new report, SUPERCONDUCTORS: TECHNOLOGIES AND GLOBAL MARKETS, the global superconductivity technologies are expected to approach nearly $4.2 billion in 2019, with a compound annual growth rate (CAGR) of 16.4% over the next five years. The superconducting electronics segment is predicted to surge at 58.8% CAGR.
Superconducting magnets, particularly those used in science, research, and technology development and healthcare applications, dominate the market. The healthcare segment is presently the largest market for superconducting applications, accounting for 63% of the global market in 2013 led by the superconducting magnets used in MRI scanners.
However, superconducting electrical equipment segment (e.g., transformers, generators, motors, fault current limiters (FCLs), power storage, current leads, and cable) is expected to capture over 36% of the market by 2019. Superconducting electronics are also anticipated to gain significant market share over the next five years.
BCC Research forecasts that healthcare’s science, research, and technology share is expected to slip to just over 27% by 2019. Most of the drop in healthcare’s share is expected to be made up by computing (27% of the market in 2019) and transport (1%).
“Superconductivity is a unique and powerful tool in scientific research that has led to important strides in healthcare such as magnetic resonance imaging (MRI),” says BCC Research advanced materials analyst Andrew McWilliams. “In the future, superconducting technologies may be used to predict earthquakes, map the magnetic fields produced by the brain, and produce ultrahigh-performance computers.”
SUPERCONDUCTORS: TECHNOLOGIES AND GLOBAL MARKETS provides an up-to-date understanding of the developing market for superconducting applications, materials, and other enabling technologies. With 2013 as a baseline, market projections are given for the period 2014 to 2019.
Editors and reporters who wish to speak with the analyst should contact Steven Cumming at steven(dot)cumming(at)bccresearch(dot)com.
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BCC Research publishes market research reports that make organizations worldwide more profitable with intelligence that drives smart business decisions. These reports cover today's major industrial and technology sectors, including emerging markets. For more than 40 years, we have helped customers identify new market opportunities with accurate and reliable data and insight, including market sizing, forecasting, industry overviews, and identification of significant trends and key competitors. We partner with analysts who are experts in specific areas of industry and technology, providing unbiased measurements and assessments of global markets. Our clients include the top companies in industries around the world as well as universities, business schools, start-ups, consulting firms and investment companies. BCC Research is a unit of Eli Research LLC. Visit our website at http://www.bccresearch.com. Contact us: (+1) 781-489-7301 (U.S. Eastern Time), or email information(at)bccresearch(dot)com.
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