The Insight Partners: Superconductors Market Size to Reach $8.56 Bn, Globally, by 2028

The superconductors market share to grow at a CAGR of 8.4% from 2022 to 2028.

NEW YORK, UNITED STATES, December 14, 2022 /EINPresswire.com/ -- Superconducting processors may become an important component of the next generation of supercomputers. For starters, they could assist in overcoming the major issue of scaling up quantum computers. Second, they might significantly improve the performance of classic supercomputers while drastically reducing their power usage. A multidisciplinary research initiative will address one of the primary obstacles of this approach, data transport to and from low temperatures required for superconductivity.

This disadvantage becomes a benefit when utilized in conjunction with superconducting quantum computers. Additionally, the extremely high-power consumption of CPUs and GPUs due to energy dissipation in silicon chips is a major restriction of supercomputers. In GPUs, replacing silicon chips with superconducting SFQ chips could significantly influence performance and power consumption. Thus, the increase in superconducting chips to scale up quantum computers and supercomputers is driving the superconductors market.

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Strategic Insights:
Players operating in the superconductors market mainly focus on developing advanced and efficient products.

In 2022, Cryomagnetics designed and produced the six 5 Tesla recondensing magnets that comprise the Differential Pumping Section (DPS), as well as the "Pinch" and "Detector" magnets for this groundbreaking experiment.

In 2021, Hitachi,Ltd. has developed a 1.1-m-diameter magnesium diboride (MgB2) superconducting magnet that can rapidly generate a magnetic field space as required for magnetic resonance imaging (MRI) examinations and has demonstrated that MRI imaging of the head region can begin in 10 minutes from a zero-field state, compared to 1 to 2 hours using conventional equipment.

Impact of COVID-19 Pandemic on Superconductors Market
The manufacturing sector experienced noticeable losses due to temporary factory shutdowns and low production volumes, which hindered superconductors market growth. Moreover, the social or physical distancing measures had put limitations on the operations of logistics and other service providers. Manufacturing component shortages of niobium-titanium, germanium–niobium, and niobium nitride in quarantine mandates and travel restrictions were key restraints in producing superconductors. Further, the US is the world's largest producer of superconductor products and one of the largest consumers of superconductors. However, the country experienced strict government regulations in the mid of 2020 due to COVID-19 safety measures, which resulted in considerable disruption in the manufacturing and supply chain of superconductors. Due to this, superconductor manufacturing companies faced revenue losses and slow growth. Despite of COVID-19 impact, North America held the largest superconductors market share globally.

Bruker Corporation; Furukawa Electric Co. Ltd.; American Superconductor Corporation; Sumitomo Electric Industries, Ltd.; and Hitachi Ltd. are a few key superconductors market players. In addition, several other important superconductors market players were studied and analyzed during this study to get a holistic view of the global superconductors market and its ecosystem.

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The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.
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The Insight Partners
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