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Global Superconducting Magnets Industry

Global Superconducting Magnets Industry

  • April 2021
  • 210 pages
  • ID: 5818068
  • Format: PDF
  • Global Industry Analysts


Table of Contents


Timely market intelligence is paramount in these uncertain times!

We launched an impact survey to update this project with timely insights during 2020. Update frequency will depend upon evolving market conditions and executive opinions. Our participants are executives driving strategy, marketing, sales and product management at competitive companies worldwide. All updates during the rest of the year are complimentary to clients!

- Post COVID-19, MRI Machines, Turbines & Mass Spectrometry Will Drive $3.6 Bn Opportunity for Superconducting Magnets
- The global market for Superconducting Magnets is projected to reach US$3.6 billion by the year 2027 trailing a CAGR of 2.4%. Growing density of MRI machines and imaging per capita per million people supported by rising incidence of cancer will push up demand for superconducting magnets in manufacturing MRI machines over the long-term. Post pandemic focus on the environment & renewable energy will spur expansion of wind farms & demand for wind turbines which use superconducting magnets to reduce the weight of a generator by replacing the direct drive’s permanent magnets. Spike in drug development, robust growth of Contract Research Organizations (CROs) & mushrooming of environmental diagnostic labs will spur demand for Mass Spectrometry, an important class of analytical instrument that uses superconducting magnets.
- Superconductivity is the capability of certain alloys, metals and ceramic materials to allow flow of electrical current without any electrical resistance as well as energy dissipation. The phenomenon develops at below a specific critical temperature, which is between 30 K (-243o C) & 120 K (-153o C) for HTS (high temperature superconductors) and less than 20 K (-253o C) for LTS (low temperature superconductors). If the temperature rises and exceeds critical value, superconducting characteristics of the materials are lost. Superconducting properties are also known to be lost in the event of exposure to powerful external magnetic fields or high current density. Critical values of temperatures, current density and magnetic field are specific traits of every superconductor material. Majority of the existing superconductors are based on niobium (Nb) and Nb-alloys LTS wires that have already reached a high industrialization level. The use of LTS wire is typical in the production of small superconducting magnets for diagnostics in medical field such as Magnetic Resonance Imaging (MRI); in research applications; as well as in large superconducting magnets meant for globally renowned experimental facilities, for instance nuclear fusion, detectors and particle accelerators for high-energy physics.
- Growth in the market will be bolstered by ongoing R&D activities intended to push end-uses and expand product portfolios. Superconducting magnets are electromagnets made using superconducting wire coils that display excellent magnetic characteristics at cryogenic temperatures. These magnets exhibit almost zero resistance at superconducting state to conduct considerably large current and create intense magnetic fields. These magnets are cost-effective to operate owing to no dissipation of energy as heat in windings. Superconducting magnets hold several merits over electromagnets, and generate a magnetic field of up to 21.14T, which is considerably higher than the magnetic field associated permanent magnets. These advantages make superconducting magnets a perfect option for a broad range of applications, especially in the medical industry. These magnets are commonly used in MRI machines and gain from consistent expansion of the medical devices and equipment market. In addition, superconducting magnets are incorporated into scientific equipment like NMR spectrometers, fusion reactors, mass spectrometers and particle accelerators. The increasing adoption of MRIs in the healthcare industry for clinical diagnosis is anticipated to create new growth opportunities for the global superconducting magnets market. The use of superconducting magnets with NMR technology is a common approach to cure certain serious medical conditions like cancer. Moreover, the use of compact semiconductor-based power generators in wind power projects and increasing focus on superconducting magnetic energy storage system (SMES) systems are expected to present new growth opportunities for the global market.

- Select Competitors (Total 29 Featured) -
  • Agilent Technologies Inc
  • American Magnetics Inc
  • ASG Superconductors spa
  • Bruker Corporation
  • General Electric Co
  • Janis Research Company
  • Oxford Instruments plc
  • Siemens Healthineers
  • SuperPower Inc.

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