Superconducting Magnets

Global Superconducting Magnets Market to Reach US$4.7 Billion by 2030

The global market for Superconducting Magnets estimated at US$3.9 Billion in the year 2024, is expected to reach US$4.7 Billion by 2030, growing at a CAGR of 3.0% over the analysis period 2024-2030. Medical Devices & Equipment, one of the segments analyzed in the report, is expected to record a 3.3% CAGR and reach US$2.3 Billion by the end of the analysis period. Growth in the Mass Spectrometers segment is estimated at 3.0% CAGR over the analysis period.

The U.S. Market is Estimated at US$653.2 Million While China is Forecast to Grow at 3.7% CAGR

The Superconducting Magnets market in the U.S. is estimated at US$653.2 Million in the year 2024. China, the world`s second largest economy, is forecast to reach a projected market size of US$999.9 Million by the year 2030 trailing a CAGR of 3.7% over the analysis period 2024-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 2.4% and 2.1% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 2.6% CAGR.

Global Superconducting Magnets Market - Key Trends & Drivers Summarized

Superconducting magnets are powerful electromagnets made from superconducting wire, which can carry much larger currents without energy losses compared to conventional wire. These magnets are used in a variety of high-tech applications, including magnetic resonance imaging (MRI) machines in the medical field, particle accelerators in scientific research, and magnetic confinement systems for nuclear fusion. Superconducting magnets operate at extremely low temperatures, typically achieved using liquid helium or liquid nitrogen, which allow the superconducting materials to exhibit zero electrical resistance and expel magnetic fields, leading to highly efficient and strong magnetic fields.

The development and application of superconducting magnets have revolutionized many fields by providing unparalleled magnetic strength and stability. In medical diagnostics, MRI machines utilizing superconducting magnets offer high-resolution imaging capabilities, which are essential for accurate diagnosis and treatment planning. In scientific research, superconducting magnets are critical components of particle accelerators, such as those used in the Large Hadron Collider, enabling scientists to explore fundamental particles and forces at unprecedented energy levels. The potential for superconducting magnets in energy applications, particularly in the development of sustainable nuclear fusion reactors, represents a promising avenue for future energy solutions.

The growth in the superconducting magnets market is driven by several factors. The increasing demand for advanced medical imaging technologies, such as MRI, is a significant driver, as these machines rely on superconducting magnets for high performance. Technological advancements in superconducting materials and cooling techniques are enhancing the efficiency and reducing the operational costs of superconducting magnets, making them more accessible for various applications. The expansion of research activities in particle physics and the development of new particle accelerators are also boosting demand for superconducting magnets. Additionally, the pursuit of sustainable energy solutions, particularly through nuclear fusion, is driving investments in superconducting magnet technology. The growing interest in quantum computing and the need for high-field magnets in experimental setups are further contributing to the market`s growth.

SCOPE OF STUDY:

The report analyzes the Superconducting Magnets market in terms of units by the following Segments, and Geographic Regions/Countries:

Segments:
Application (Medical Devices & Equipment, Mass Spectrometers, Transportation, Other Applications)

Geographic Regions/Countries:
World; USA; Canada; Japan; China; Europe; France; Germany; Italy; UK; Rest of Europe; Asia-Pacific; Latin America; Rest of World.

Select Competitors (Total 52 Featured) -

• Agilent Technologies, Inc.
• Bruker Corporation
• Fujikura Ltd.
• American Magnetics, Inc.
• ASG Superconductors SpA
• Cryomagnetics, Inc.
• Elytt Energy
• Cryogenic Ltd.
• Advanced Magnet Lab, Inc.
• Bilfinger SE
• Bruker Energy & Supercon Technologies (BEST)
• CRYO Industries of America, Inc.
• Custom Coils
• Commonwealth Fusion
• CAEN ELS

TARIFF IMPACT FACTOR

Our new release incorporates impact of tariffs on geographical markets as we predict a shift in competitiveness of companies based on HQ country, manufacturing base, exports and imports (finished goods and OEM). This intricate and multifaceted market reality will impact competitors by artificially increasing the COGS, reducing profitability, reconfiguring supply chains, amongst other micro and macro market dynamics.

We are diligently following expert opinions of leading Chief Economists (14,949), Think Tanks (62), Trade & Industry bodies (171) worldwide, as they assess impact and address new market realities for their ecosystems. Experts and economists from every major country are tracked for their opinions on tariffs and how they will impact their countries.

We expect this chaos to play out over the next 2-3 months and a new world order is established with more clarity. We are tracking these developments on a real time basis.

As we release this report, U.S. Trade Representatives are pushing their counterparts in 183 countries for an early closure to bilateral tariff negotiations. Most of the major trading partners also have initiated trade agreements with other key trading nations, outside of those in the works with the United States. We are tracking such secondary fallouts as supply chains shift.

To our valued clients, we say, we have your back. We will present a simplified market reassessment by incorporating these changes!

APRIL 2025: NEGOTIATION PHASE

Our April release addresses the impact of tariffs on the overall global market and presents market adjustments by geography. Our trajectories are based on historic data and evolving market impacting factors.

JULY 2025 FINAL TARIFF RESET

Complimentary Update: Our clients will also receive a complimentary update in July after a final reset is announced between nations. The final updated version incorporates clearly defined Tariff Impact Analyses.

Reciprocal and Bilateral Trade & Tariff Impact Analyses:

USA
CHINA
MEXICO
CANADA
EU
JAPAN
INDIA
176 OTHER COUNTRIES.

Leading Economists - Our knowledge base tracks 14,949 economists including a select group of most influential Chief Economists of nations, think tanks, trade and industry bodies, big enterprises, and domain experts who are sharing views on the fallout of this unprecedented paradigm shift in the global econometric landscape. Most of our 16,491+ reports have incorporated this two-stage release schedule based on milestones.

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