Superconductor market 2023-2027: A descriptive Analysis of five forces model, market dynamics, and segmentation- Technavio

NEW YORK, Feb. 2, 2023 /PRNewswire/ -- According to Technavio, the global superconductor market size is estimated to grow by USD 4,472.26 million from 2022 to 2027. The market is estimated to grow at a CAGR of almost 8.7% during the forecast period. APAC will account for the largest share of the global market during the forecast period. The report includes historic market data from 2017 to 2021. In 2017, the market was valued at USD 6316.30 million. For more Insights on market size Request a sample report

Global superconductor market - Five Forces
The global cloud data warehouse market is fragmented, and the five forces analysis covers– 

• Bargaining power of buyers 
• The threat of new entrants
• Threat of rivalry
• Bargaining power of suppliers
• Threat of substitutes
• Interpretation of porter's five models helps to strategize the business, for entire details – buy the report!

Global superconductor market – Customer Landscape 

The report includes the market's adoption lifecycle, from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.

Global superconductor market - Segmentation Assessment

Segment Overview
Technavio has segmented the market based on type (Low-temperature superconductors and High-temperature superconductors), and product (Magnets, Cables, Transformers, and Energy storage devices.

• The low-temperature superconductors segment will account for a significant share of the global market during the forecast period. Factors such as low-temperature superconductors are widely used in applications such as high-energy physics, automobiles, magnetic resonance imaging (MRI), and nuclear magnetic resonance (NMR) devices. Currently, commonly used MRI magnets are cylindrical superconducting magnets made from low-temperature Niobium-titanium (NbTi) superconductors. NbTi magnets are compact, demonstrate reliable performance, and are cost-effective. These advantages of low-temperature NbTi superconductors drive their adoption in MRI applications. Such factors will drive the growth of the low-temperature superconductors segment in the global superconductor market.

Geography Overview
By geography, the global superconductor market is segmented into APAC, North America, Europe, South America, and Middle East and Africa. The report provides actionable insights and estimates the contribution of all regions to the growth of the global superconductor market.

• APAC is estimated to account for 47% of the growth of the global market during the forecast period. Governments of countries in APAC are investing significantly in developing high-voltage power grids. For instance, in November 2022, Sun Cable signed a deal with the Government of Indonesia to develop the world's largest intercontinental solar and storage project. The growing investments in power grid projects will accelerate the demand for superconducting cables, transformers, and generators. This, in turn, will drive the growth of the market in APAC during the forecast period.

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Global superconductor market – Market Dynamics
Key factor driving market growth

• The development of smart grids is notably driving the superconductor market growth.
• Smart grids provide various benefits, such as managing the power supply efficiently during blackouts. They are prepared for emergencies such as natural disasters, as they re-route the electrical supply to working lines and isolate the fault lines.
• Electrical equipment, components, and transmission lines carry high currents and voltage at high temperatures, which necessitates the use of superconductor materials.
• As superconductor devices are suitable for high-temperature applications, they need to be integrated across generators and transformers.
• Therefore, with the growing interest in smart grid deployment across the world, the need for superconductor devices will drive the market's growth during the forecast period.

Leading trends influencing the market 

• The emergence of SMES systems is a key trend influencing the superconductor market. 
• A superconducting magnetic energy storage (SMES) system stores the energy in a magnetic field inside a superconducting coil.
• SMES is a direct electric energy storage technology and is in its early phase of commercialization. It has high power with high energy conversion efficiency, along with instantaneous response time.
• The growth of the global energy storage market is driven by carbon emission targets, rising smart grids and renewables, and increasing electrification of transport.
• Vendors are investing in developing improved SMES systems with higher power storage capacities to keep pace with the growing demand for large-scale energy storage applications.
• The growing global demand for power due to climate change concerns, depleting non-renewable energy resources, and rapidly increasing global population is expected to accelerate the demand for SMES. This trend will support the demand for superconducting magnets during the forecast period.

Major challenges hindering the market growth

• The high lead time may impede the superconductor market growth. 
• The extensive lead time required in the development of superconductor technology requires constant government support.
• Moreover, partnerships between the government and industry play an essential role in this process. Governments have funded many projects to install superconductor cables and products in power grids. However, if the funding is restricted, grid operators may not continue to use superconductor cables and products in their projects.
• In-grid demonstrations of superconductor power cables are essential to convince the operators of utilities and power grid operators about the benefits of this technology.
• Moreover, governments and other organizations are skeptical about the adoption of superconductor technology due to the high lead time and expensive manufacturing processes. This can challenge the growth of the market during the forecast period.

Drivers, trends, and challenges have an impact on market dynamics, which can impact businesses. Find more insights in a sample report!

What are the key data covered in this superconductor market report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the superconductor market between 2023 and 2027
• Precise estimation of the size of the superconductor market size and its contribution to the market in focus on the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the superconductor market industry across APAC, North America, Europe, South America, and Middle East and Africa
• A thorough analysis of the market's competitive landscape and detailed information about vendors
• Comprehensive analysis of factors that will challenge the growth of superconductor market vendors

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Superconductor Market Scope

Table of contents

1 Executive Summary

• 1.1 Market overview
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Global Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by Type
• Exhibit 06: Executive Summary – Chart on Market Segmentation by Product
• Exhibit 07: Executive Summary – Chart on Incremental Growth
• Exhibit 08: Executive Summary – Data Table on Incremental Growth
• Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem
• Exhibit 10: Parent market
• Exhibit 11: Market Characteristics

3 Market Sizing

• 3.1 Market definition
• Exhibit 12: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 13: Market segments

• 3.3 Market size 2022

• 3.4 Market outlook: Forecast for 2022-2027 
• Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ million)
• Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ million)
• Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
• Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

• 4.1 Global superconductor market 2017 - 2021 
• Exhibit 18: Historic Market Size – Data Table on Global superconductor market 2017 - 2021 ($ million)

• 4.2 Type Segment Analysis 2017 - 2021 
• Exhibit 19: Historic Market Size – Type Segment 2017 - 2021 ($ million)

• 4.3 Product Segment Analysis 2017 - 2021 
• Exhibit 20: Historic Market Size – Product Segment 2017 - 2021 ($ million)

• 4.4 Geography Segment Analysis 2017 - 2021 
• Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 ($ million)

• 4.5 Country Segment Analysis 2017 - 2021 
• Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 ($ million)

5 Five Forces Analysis

• 5.1 Five forces summary
• Exhibit 23: Five forces analysis - Comparison between 2022 and 2027

• 5.2 Bargaining power of buyers 
• Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

• 5.3 Bargaining power of suppliers 
• Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

• 5.4 Threat of new entrants 
• Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027

• 5.5 Threat of substitutes 
• Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027

• 5.6 Threat of rivalry
• Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027

• 5.7 Market condition
• Exhibit 29: Chart on Market condition - Five forces 2022 and 2027

6 Market Segmentation by Type

• 6.1 Market segments
• Exhibit 30: Chart on Type - Market share 2022-2027 (%)
• Exhibit 31: Data Table on Type - Market share 2022-2027 (%)

• 6.2 Comparison by Type
• Exhibit 32: Chart on Comparison by Type
• Exhibit 33: Data Table on Comparison by Type

• 6.3 Low temperature superconductors - Market size and forecast 2022-2027 
• Exhibit 34: Chart on Low temperature superconductors - Market size and forecast 2022-2027 ($ million)
• Exhibit 35: Data Table on Low temperature superconductors - Market size and forecast 2022-2027 ($ million)
• Exhibit 36: Chart on Low temperature superconductors - Year-over-year growth 2022-2027 (%)
• Exhibit 37: Data Table on Low temperature superconductors - Year-over-year growth 2022-2027 (%)

• 6.4 High temperature superconductors - Market size and forecast 2022-2027 
• Exhibit 38: Chart on High temperature superconductors - Market size and forecast 2022-2027 ($ million)
• Exhibit 39: Data Table on High temperature superconductors - Market size and forecast 2022-2027 ($ million)
• Exhibit 40: Chart on High temperature superconductors - Year-over-year growth 2022-2027 (%)
• Exhibit 41: Data Table on High temperature superconductors - Year-over-year growth 2022-2027 (%)

• 6.5 Market opportunity by Type 
• Exhibit 42: Market opportunity by Type ($ million)

7 Market Segmentation by Product

• 7.1 Market segments
• Exhibit 43: Chart on Product - Market share 2022-2027 (%)
• Exhibit 44: Data Table on Product - Market share 2022-2027 (%)

• 7.2 Comparison by Product 
• Exhibit 45: Chart on Comparison by Product
• Exhibit 46: Data Table on Comparison by Product

• 7.3 Magnets - Market size and forecast 2022-2027 
• Exhibit 47: Chart on Magnets - Market size and forecast 2022-2027 ($ million)
• Exhibit 48: Data Table on Magnets - Market size and forecast 2022-2027 ($ million)
• Exhibit 49: Chart on Magnets - Year-over-year growth 2022-2027 (%)
• Exhibit 50: Data Table on Magnets - Year-over-year growth 2022-2027 (%)

• 7.4 Cables - Market size and forecast 2022-2027 
• Exhibit 51: Chart on Cables - Market size and forecast 2022-2027 ($ million)
• Exhibit 52: Data Table on Cables - Market size and forecast 2022-2027 ($ million)
• Exhibit 53: Chart on Cables - Year-over-year growth 2022-2027 (%)
• Exhibit 54: Data Table on Cables - Year-over-year growth 2022-2027 (%)

• 7.5 Transformers - Market size and forecast 2022-2027 
• Exhibit 55: Chart on Transformers - Market size and forecast 2022-2027 ($ million)
• Exhibit 56: Data Table on Transformers - Market size and forecast 2022-2027 ($ million)
• Exhibit 57: Chart on Transformers - Year-over-year growth 2022-2027 (%)
• Exhibit 58: Data Table on Transformers - Year-over-year growth 2022-2027 (%)

• 7.6 Energy storage devices - Market size and forecast 2022-2027 
• Exhibit 59: Chart on Energy storage devices - Market size and forecast 2022-2027 ($ million)
• Exhibit 60: Data Table on Energy storage devices - Market size and forecast 2022-2027 ($ million)
• Exhibit 61: Chart on Energy storage devices - Year-over-year growth 2022-2027 (%)
• Exhibit 62: Data Table on Energy storage devices - Year-over-year growth 2022-2027 (%)

• 7.7 Market opportunity by Product 
• Exhibit 63: Market opportunity by Product ($ million)

8 Customer Landscape

• 8.1 Customer landscape overview 
• Exhibit 64: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

• 9.1 Geographic segmentation 
• Exhibit 65: Chart on Market share by geography 2022-2027 (%)
• Exhibit 66: Data Table on Market share by geography 2022-2027 (%)

• 9.2 Geographic comparison 
• Exhibit 67: Chart on Geographic comparison
• Exhibit 68: Data Table on Geographic comparison

• 9.3 APAC - Market size and forecast 2022-2027 
• Exhibit 69: Chart on APAC - Market size and forecast 2022-2027 ($ million)
• Exhibit 70: Data Table on APAC - Market size and forecast 2022-2027 ($ million)
• Exhibit 71: Chart on APAC - Year-over-year growth 2022-2027 (%)
• Exhibit 72: Data Table on APAC - Year-over-year growth 2022-2027 (%)

• 9.4 North America - Market size and forecast 2022-2027 
• Exhibit 73: Chart on North America - Market size and forecast 2022-2027 ($ million)
• Exhibit 74: Data Table on North America - Market size and forecast 2022-2027 ($ million)
• Exhibit 75: Chart on North America - Year-over-year growth 2022-2027 (%)
• Exhibit 76: Data Table on North America - Year-over-year growth 2022-2027 (%)

• 9.5 Europe - Market size and forecast 2022-2027 
• Exhibit 77: Chart on Europe - Market size and forecast 2022-2027 ($ million)
• Exhibit 78: Data Table on Europe - Market size and forecast 2022-2027 ($ million)
• Exhibit 79: Chart on Europe - Year-over-year growth 2022-2027 (%)
• Exhibit 80: Data Table on Europe - Year-over-year growth 2022-2027 (%)

• 9.6 South America - Market size and forecast 2022-2027 
• Exhibit 81: Chart on South America - Market size and forecast 2022-2027 ($ million)
• Exhibit 82: Data Table on South America - Market size and forecast 2022-2027 ($ million)
• Exhibit 83: Chart on South America - Year-over-year growth 2022-2027 (%)
• Exhibit 84: Data Table on South America - Year-over-year growth 2022-2027 (%)

• 9.7 Middle East and Africa - Market size and forecast 2022-2027 
• Exhibit 85: Chart on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
• Exhibit 86: Data Table on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
• Exhibit 87: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
• Exhibit 88: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)

• 9.8 China - Market size and forecast 2022-2027 
• Exhibit 89: Chart on China - Market size and forecast 2022-2027 ($ million)
• Exhibit 90: Data Table on China - Market size and forecast 2022-2027 ($ million)
• Exhibit 91: Chart on China - Year-over-year growth 2022-2027 (%)
• Exhibit 92: Data Table on China - Year-over-year growth 2022-2027 (%)

• 9.9 US - Market size and forecast 2022-2027 
• Exhibit 93: Chart on US - Market size and forecast 2022-2027 ($ million)
• Exhibit 94: Data Table on US - Market size and forecast 2022-2027 ($ million)
• Exhibit 95: Chart on US - Year-over-year growth 2022-2027 (%)
• Exhibit 96: Data Table on US - Year-over-year growth 2022-2027 (%)

• 9.10 Taiwan - Market size and forecast 2022-2027 
• Exhibit 97: Chart on Taiwan - Market size and forecast 2022-2027 ($ million)
• Exhibit 98: Data Table on Taiwan - Market size and forecast 2022-2027 ($ million)
• Exhibit 99: Chart on Taiwan - Year-over-year growth 2022-2027 (%)
• Exhibit 100: Data Table on Taiwan - Year-over-year growth 2022-2027 (%)

• 9.11 South Korea - Market size and forecast 2022-2027 
• Exhibit 101: Chart on South Korea - Market size and forecast 2022-2027 ($ million)
• Exhibit 102: Data Table on South Korea - Market size and forecast 2022-2027 ($ million)
• Exhibit 103: Chart on South Korea - Year-over-year growth 2022-2027 (%)
• Exhibit 104: Data Table on South Korea - Year-over-year growth 2022-2027 (%)

• 9.12 Japan - Market size and forecast 2022-2027 
• Exhibit 105: Chart on Japan - Market size and forecast 2022-2027 ($ million)
• Exhibit 106: Data Table on Japan - Market size and forecast 2022-2027 ($ million)
• Exhibit 107: Chart on Japan - Year-over-year growth 2022-2027 (%)
• Exhibit 108: Data Table on Japan - Year-over-year growth 2022-2027 (%)

• 9.13 Market opportunity by geography 
• Exhibit 109: Market opportunity by geography ($ million)

10 Drivers, Challenges, and Trends

• 10.1 Market drivers

• 10.2 Market challenges

• 10.3 Impact of drivers and challenges 
• Exhibit 110: Impact of drivers and challenges in 2022 and 2027

• 10.4 Market trends

11 Vendor Landscape

• 11.1 Overview

• 11.2 Vendor landscape
• Exhibit 111: Overview on Criticality of inputs and Factors of differentiation

• 11.3 Landscape disruption
• Exhibit 112: Overview on factors of disruption

• 11.4 Industry risks
• Exhibit 113: Impact of key risks on business

12 Vendor Analysis

• 12.1 Vendors covered
• Exhibit 114: Vendors covered

• 12.2 Market positioning of vendors 
• Exhibit 115: Matrix on vendor position and classification

• 12.3 American Superconductor Corp. 
• Exhibit 116: American Superconductor Corp. - Overview
• Exhibit 117: American Superconductor Corp. - Business segments
• Exhibit 118: American Superconductor Corp. - Key offerings
• Exhibit 119: American Superconductor Corp. - Segment focus

• 12.4 BASF SE
• Exhibit 120: BASF SE - Overview
• Exhibit 121: BASF SE - Business segments
• Exhibit 122: BASF SE - Key news
• Exhibit 123: BASF SE - Key offerings
• Exhibit 124: BASF SE - Segment focus

• 12.5 Bruker Corp.
• Exhibit 125: Bruker Corp. - Overview
• Exhibit 126: Bruker Corp. - Business segments
• Exhibit 127: Bruker Corp. - Key news
• Exhibit 128: Bruker Corp. - Key offerings
• Exhibit 129: Bruker Corp. - Segment focus

• 12.6 Cryomagnetics Inc.
• Exhibit 130: Cryomagnetics Inc. - Overview
• Exhibit 131: Cryomagnetics Inc. - Product / Service
• Exhibit 132: Cryomagnetics Inc. - Key offerings

• 12.7 evico GmbH
• Exhibit 133: evico GmbH - Overview
• Exhibit 134: evico GmbH - Product / Service
• Exhibit 135: evico GmbH - Key offerings

• 12.8 Fujikura Co. Ltd.
• Exhibit 136: Fujikura Co. Ltd. - Overview
• Exhibit 137: Fujikura Co. Ltd. - Business segments
• Exhibit 138: Fujikura Co. Ltd. - Key news
• Exhibit 139: Fujikura Co. Ltd. - Key offerings
• Exhibit 140: Fujikura Co. Ltd. - Segment focus

• 12.9 Furukawa Electric Co. Ltd. 
• Exhibit 141: Furukawa Electric Co. Ltd. - Overview
• Exhibit 142: Furukawa Electric Co. Ltd. - Business segments
• Exhibit 143: Furukawa Electric Co. Ltd. - Key news
• Exhibit 144: Furukawa Electric Co. Ltd. - Key offerings
• Exhibit 145: Furukawa Electric Co. Ltd. - Segment focus

• 12.10 Hitachi Ltd.
• Exhibit 146: Hitachi Ltd. - Overview
• Exhibit 147: Hitachi Ltd. - Business segments
• Exhibit 148: Hitachi Ltd. - Key news
• Exhibit 149: Hitachi Ltd. - Key offerings
• Exhibit 150: Hitachi Ltd. - Segment focus

• 12.11 Kobe Steel Ltd.
• Exhibit 151: Kobe Steel Ltd. - Overview
• Exhibit 152: Kobe Steel Ltd. - Business segments
• Exhibit 153: Kobe Steel Ltd. - Key offerings
• Exhibit 154: Kobe Steel Ltd. - Segment focus

• 12.12 Mitsubishi Corp.
• Exhibit 155: Mitsubishi Corp. - Overview
• Exhibit 156: Mitsubishi Corp. - Business segments
• Exhibit 157: Mitsubishi Corp. - Key news
• Exhibit 158: Mitsubishi Corp. - Key offerings
• Exhibit 159: Mitsubishi Corp. - Segment focus

• 12.13 Siemens AG
• Exhibit 160: Siemens AG - Overview
• Exhibit 161: Siemens AG - Business segments
• Exhibit 162: Siemens AG - Key news
• Exhibit 163: Siemens AG - Key offerings
• Exhibit 164: Siemens AG - Segment focus

• 12.14 Southwire Co. LLC
• Exhibit 165: Southwire Co. LLC - Overview
• Exhibit 166: Southwire Co. LLC - Product / Service
• Exhibit 167: Southwire Co. LLC - Key offerings

• 12.15 Sumitomo Electric Industries Ltd. 
• Exhibit 168: Sumitomo Electric Industries Ltd. - Overview
• Exhibit 169: Sumitomo Electric Industries Ltd. - Business segments
• Exhibit 170: Sumitomo Electric Industries Ltd. - Key news
• Exhibit 171: Sumitomo Electric Industries Ltd. - Key offerings
• Exhibit 172: Sumitomo Electric Industries Ltd. - Segment focus

• 12.16 THEVA Dunnschichttechnik GmbH 
• Exhibit 173: THEVA Dunnschichttechnik GmbH - Overview
• Exhibit 174: THEVA Dunnschichttechnik GmbH - Product / Service
• Exhibit 175: THEVA Dunnschichttechnik GmbH - Key offerings

• 12.17 TOSHIBA CORP
• Exhibit 176: TOSHIBA CORP - Overview
• Exhibit 177: TOSHIBA CORP - Business segments
• Exhibit 178: TOSHIBA CORP - Key offerings
• Exhibit 179: TOSHIBA CORP - Segment focus

13 Appendix

• 13.1 Scope of the report

• 13.2 Inclusions and exclusions checklist 
• Exhibit 180: Inclusions checklist
• Exhibit 181: Exclusions checklist

• 13.3 Currency conversion rates for US$ 
• Exhibit 182: Currency conversion rates for US$

• 13.4 Research methodology
• Exhibit 183: Research methodology
• Exhibit 184: Validation techniques employed for market sizing
• Exhibit 185: Information sources

• 13.5 List of abbreviations 
• Exhibit 186: List of abbreviations

About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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