Global Superconductors Market to Reach $8.83 Billion by 2017, According to a New Report by Global Industry Analysts, Inc.

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GIA announces the release of a comprehensive global report on Superconductors market. Global superconductors market is forecast to reach $8.83 billion by the year 2017, driven by increasing role in diverse end-use applications areas such as industrial, commercial and healthcare. Superconductors are also finding extensive usage in magnetic resonance imaging in the field of scientific research and other technological advanced studies. Superconducting materials known for providing cost-effective, environment friendly and efficient solutions find great demand in electricity and transportation sectors. In the near future, the market for superconducting magnetic storage systems is expected to witness robust growth, particularly from developing market such as Asia-Pacific.

Superconductors: A Global Strategic Business Report

Superconductivity technology plays a vital role in the process of scientific research for applications in various commercial sectors such as healthcare, where it is extensively used in magnetic resonance imaging. In addition, applications using the technology are expected to be developed for increasing efficiency of electricity generation and utilization. Costs associated with energy are on the rise and governments across the globe are becoming more stringent with environmental protection. In this regard, superconductors are well poised in designing current and future systems that are not only cost-effective, but also provide environmental benefits. Subsequent to substantial research activities in the field of superconductors, researchers and developers are now focusing efforts towards new opportunities for fully exploiting the uniqueness of these materials for commercial applications. Superconducting materials are being increasingly utilized in medical, electric power, and transportation sectors for providing cost-effective, environment-friendly, and efficient solutions. Some of the major developments in the area of superconductors are in the power sector through the development of high temperature superconducting cables, advanced transformers with fault current limiter functionality, and superconducting magnetic energy storage.

The future of superconductors would primarily depend on the performance of cooling systems with respect to reliability and system and cost overhead. Moreover, new testing and industry standardizations would need to be formulated in order to shift the applicability of superconductors from research laboratories to niche market and ultimately to more widespread applications. Scientists across the globe are increasingly realizing the significance of superconductors in future applications. The future is expected to fully harness the technology of superconductivity in powering electronic devices, electric motors, and storage devices. In the US, there are myriad issues coercing government agencies and private companies to find better ways of efficiently distributing power. Equipments running on superconductor technology such as superconducting magnetic energy storage systems, generators, motors, transformers and fault current limiters among others are the new areas of intense research and focus. Japan has traditionally been at the forefront of superconducting electronics and is currently taking significant steps towards expanding its global position through leveraging the capabilities of large-scale superconductivity applications.

Traditionally, superconductors have found utility in high-performance sectors such as military, research and development, and scientific applications. In addition, superconductors are being widely used in medical and other applications, as the competitiveness offered by non-superconducting devices in this segment is weak. Apart from these fields, new businesses are emerging at a rapid pace, which include not only development of new superconducting materials, but also designing of new systems. In this regard, superconducting technology is gradually percolating into the highly competitive transportation, industrial processing, communication and information, and energy sectors. Additional efforts in improving price performance are required for promoting commercial deployment of superconducting technologies in these areas. The future is expected to witness higher utilization of the superconducting technology for producing ultra-high performance computers, mapping magnetic fields produced by the brain, and predicting earthquakes and other such catastrophes.

Asia-Pacific leads the global superconductors market, as stated by the new research report on Superconductors. The US and Japan represent the other significant markets for superconducting technology and materials. The Asian region, driven by high performance markets of China, India and Korea among others, is set to race ahead at the overall fastest CAGR of more than 5.0% through 2017. By product segment, the Low Temperature Superconductors (LTS) represents the larger market. However, in terms of growth prospects the market for High Temperature Superconductors (HTS) displays tremendous potential, and is slated to forge ahead at a robust double digit rate of over 28% over the analysis period.

The end-use segment of Magnetic Resonance Imaging (MRI) assumes leadership position based on its sheer size. The end-use market of electronics emerges as another critical area stemming from vast range of superconductor application areas. The market is forecast to expand at a high compounded annual rate of more than 16% through 2017.

Key market participants profiled in the report include American Superconductor Corporation, Bruker Energy & Supercon Technologies, Inc.., Furukawa Electric Co., Ltd., Hyper Tech Research, Inc., Japan Superconductor Technology, Inc., LS Cable Ltd, Oxford Instruments Plc., Southwire Company, Inc., Sumitomo Electric Industries, Ltd., Superconductor Technologies, Inc., SuperPower, Inc and Zenergy Power Plc.

The research report titled “Superconductors: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of industry outlook, overview, global research institutes, market trends, product overview, recent industry activity, and profiles of market players worldwide. Analysis and overview is presented for major geographic markets such as US, Japan, Europe, Asia-Pacific and Rest of World. Market analytics are provided in terms of terms of dollar (value) for product segments including Low Temperature Superconductors (LTS) and High Temperature Superconductors (HTS). The report also analyzes the market by end-use segments including Magnetic Resonance Imaging (MRI), R&D, Electronics and Others. The study also presents historic data for an insight into market evolution over the period 2003 through 2008.

For more details about this comprehensive market research report, please visit – http://www.strategyr.com/Superconductors_Market_Report.asp

About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a reputed publisher of off-the-shelf market research. Founded in 1987, the company is globally recognized as one of the world’s largest market research publishers. The company employs over 800 people worldwide and publishes more than 1200 full-scale research reports each year. Additionally, the company also offers thousands of smaller research products including company reports, market trend reports, and industry reports encompassing all major industries worldwide.

Global Industry Analysts, Inc.
Telephone: 408-528-9966
Fax: 408-528-9977
E-mail: press(at)StrategyR(dot)com
Web Site: http://www.StrategyR.com/

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