Global Superconducting Magnets Market 2017-2021
About Superconducting Magnets
Superconducting magnets are more complicated than electromagnets, especially as they require low temperatures to keep the magnet solenoid in its superconducting state. However, they have some key advantages over their electromagnetic counterparts. Superconducting technology produces very high-intensity magnetic fields without ample power supplies needed for electromagnets. Superconducting magnets do not need a power source once they are brought into the magnetic field, and can function in a persistent mode leading to crucial savings in electricity costs. Superconducting magnets can generate a much higher magnetic field when compared to permanent magnets. Superconducting magnets can generate magnetic fields of up to 21.14 T whereas permanent magnets generate magnetic fields measuring 2 T.
Technavio’s analysts forecast the global superconducting magnets market to grow at a CAGR of 0.88% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global superconducting magnets market for 2017-2021. To calculate the market size, the report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Superconducting Magnets Market 2017-2021
Technavio recognizes the following companies as the key players in the global superconducting magnets market: Siemens, Sumitomo Electric Industries, and Columbus Superconductors.
Other Prominent Vendors in the market are: Agilent Technologies, American Magnetics, and Bruker.
Commenting on the report, an analyst from Technavio’s team said: “One trend in market is partnerships between interventional MRI image guided systems and pharmacological companies. Partnership with pharmaceutical companies and clinical studies to check the efficacy of both MRI image guided system, and pharmacological products can improve the sales of products after the regulatory approval. It is a strategy used by the companies to compete with other companies, which can increase the sales of interventional MRI-guided systems by expanding the range of applications.”
According to the report, one driver in market is more power required for smaller spaces. Superconducting materials are a paradigm shift in terms of offering a solution to the problems of efficiency and energy distribution. The increase in energy consumption and the densification of the urban areas is a serious electric utility problem. The superconductor's ability to transact high current densities is a highly compact technological alternative to conventional copper lines. Superconducting cables have a 10 times higher capacity compared to conventional cables carrying transmission-level power at distribution voltages. These features of superconductors are crucial when electricity is produced at a very long distance away from the places it is used. Superconducting cables have a much smaller footprint as compared to traditional distribution and transmission lines.
Further, the report states that one challenges in market is limited demand for maglev trains. Japan has intense competition from France and China for high-speed rail transport. The country has not found any buyers for its maglev technology despite its aggressive marketing strategies. Japan has plans to build a high-speed maglev line from Tokyo to Osaka leading on to Nagoya. This construction of this segment in between Tokyo and Nagoya is expected to be completed by 2027 and costs $46 billion. The line to Osaka is expected to be connected by 2045 at an overall project cost of $76 billion. Train technology is dependent on magnetic power to float the cars above the ground preventing friction with the steel tracks. The trains start off by running on wheels and later, and when they pick up speed, the superconducting magnets take over and induce the lift. High construction costs and uncertain demands are the reason for resistance to plans for high-speed rails in the UK and the US.
Siemens, Sumitomo Electric Industries, Columbus Superconductors, Agilent Technologies, American Magnetics, and Bruker.