November 04, 2014
Wellesley, Mass., November 04, 2014 –BCC Research (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 firstname.lastname@example.org.
Superconductors: Technologies and Global Markets( AVM066D )
Data and analysis extracted from this press release must be accompanied by a statement identifying BCC Research LLC as the source and publisher. For media inquiries, email email@example.com or visit www.bccresearch.com/media to request access to our library of market research.