Superconductors moving into mainstream apps with recent developments focused in power sector

LONDON, ENGLAND: In 2017, the market for superconductors will be worth approximately $8.83 billion, according to a new report available from companiesandmarkets.com. Applications for superconductors are wide-ranging and diverse, following advancements which will see increased adoption of the technology within the medical, commercial and industrial markets. Rapid growth is expected in the emerging Asia-Pacific markets, particularly for superconducting magnetic storage systems.

Superconductor materials can provide environmentally friendly, efficient and cost effective solutions, and are widely used in the power and transport industries. Examples of power related applications include superconducting magnetic energy storage, high-temperature cables, and transformers, which offer Fault Current Limiters (FCL).

The world superconductors and materials market is dominated by the Asia-Pacific region, followed by the US and Japan. The fastest growth over the reporting period (to 2017) is anticipated in Asian markets at 5 percent CAGR – especially Korea, China and India, which have a strong concentration of production facilities for high-performance items. In future, Japan is likely to maintain its position as a pioneer of superconductor technology, particularly for larger applications and functions.

A key influencing factor upon future superconductor use is cost; not only of the systems themselves, but also of the associated cooling technologies which must be deployed alongside them.

Over 50 organisations are profiled within the superconductor market research report, including: Zenergy Power Plc, American Superconductor Corp., SuperPower Inc., Bruker Energy & Supercon Technologies Inc., Sumitomo Electric Industries Ltd, Furukawa Electric Co. Ltd, Oxford Instruments Plc, Hyper Tech Research Inc., Superconductor Technologies Inc., Japan Superconductor Technology Inc., LS Cable Ltd and Southwire Co. Inc.