DUBLIN--(BUSINESS WIRE)--The "Europe Superconductor Market Forecast to 2028 - COVID-19 Impact and Regional Analysis - by Type and Application" report has been added to ResearchAndMarkets.com's offering.
The superconductor market in Europe is expected to grow from US$ 1,043.40 million in 2022 to US$ 1,784.92 million by 2028. It is estimated to grow at a CAGR of 8.4% from 2022 to 2028.
Superconducting technologies are esoteric systems used in laboratories, electronics, defense, hospitals, and many other places. The capacity of superconductivity to efficiently produce high magnetic fields that are otherwise exceedingly expensive to obtain with traditional materials has long been recognized by large science endeavors. High-field magnets for magnetic resonance imaging, laboratory magnetometers for characterizing minerals and materials, filters for mobile communications, and magnetoencephalography for studying the human brain are the most successful applications outside large science.
Additionally, there are several special safety considerations to keep in mind when utilizing superconducting magnetic equipment, such as nuclear magnetic resonance (NMR), magnetic resonance imaging (MRI), and other equipment. EH&S's Radiation Safety team is responsible for determining specific risks for each facility housing, such as magnetic sources, identifying hazardous areas, reviewing safety precautions, and providing training when needed.
Supervisors and lead investigators make sure that all employees are properly trained to carry out the responsibilities that have been delegated to them and that all protective control measures are maintained. This increase in the implementation of safety and environmental management systems is driving the superconductors market.
With new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the Europe superconductor market at a substantial CAGR during the forecast period.
Europe Superconductor Market Segmentation
The Europe superconductor market is segmented on the basis of type, application, and country.
- Based on type, the market is segmented into low-temperature superconductors and high-temperature superconductors. In 2022, the low-temperature superconductors segment held a larger market share. On the other hand, the high temperature superconductors are expected to register a higher CAGR during the forecast period.
- Based on application, the market is segmented into medical, electronics, defense and military, and others. The medical segment held the largest market share in 2022 and is also expected to register the highest CAGR in the market during the forecast period.
- Based on country, the market is segmented into Germany, France, Italy, the UK, Russia, and the Rest of Europe. In 2022, Germany held a larger market share. On the other side, and the UK is also expected to register a higher CAGR during the forecast period.
Market Dynamics
Market Drivers
- Growing Implementation of Safety and Environmental Management Systems
- Increasing Use of MRI Technology
Market Restraints
- Lower of Standard Testing Facilities
Market Opportunities
- Superconductivity Paves the Way for New Quantum Materials
Trends
- Powerful Superconducting Magnet for Next Generation Light Sources
Key Topics Covered:
1. Introduction
2. Key Takeaways
3. Research Methodology
4. Europe Superconductors Market Landscape
5. Europe Superconductors Market - Key Market Dynamics
6. Europe Superconductors Market Analysis
7. Europe Superconductors Market Analysis - By Type
8. Europe Superconductors Market - By Application
9. Europe Superconductors Market - Country Analysis
10. Industry Landscape
11. Company Profiles
12. Appendix
Companies Mentioned
- American Superconductor
- Bruker
- Furukawa Electric CO., LTD.
- Hitachi, Ltd.
- Sumitomo Electric Industries, Ltd.
- Toshiba Corporation
- Cryomagnetics
- Fuji Electric CO., LTD
For more information about this report visit https://www.researchandmarkets.com/r/409kmx
