Superconductors Market Competitor Analysis Winning Strategies and Growth Drivers 2028

The "Superconductors Market" is projected to reach US$ 8,564.61 million by 2028; it is expected to grow at a CAGR of 8.4% from 2022 to 2028.

Superconducting technologies are advanced systems utilized in various fields, such as laboratories, electronics, defense, hospitals, and many others. These technologies are recognized for their ability to produce high magnetic fields efficiently, which would otherwise be costly to achieve with traditional materials. The market size of superconductors is segmented based on their type, applications, and geography. The types of superconductors include low-temperature superconductors and high-temperature superconductors. The applications of superconductors are segmented into medical, electronics, defense and military, and other areas. Geographically, the superconductors market size is primarily classified into North America, Europe, Asia Pacific (APAC), the Middle East and Africa (MEA), and South America.

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Companies Profiled in this report includes:

• American Superconductor Corporation
• Bruker Corporation
• Furukawa Electric Co.Ltd.
• Hitachi Ltd.
• Hyoer Tech Research, Inc.
• Japan Superconductor Technology, Inc.
• Sumitomo Electric Industries, Ltd.
• Toshiba Corporation
• Cryomagnetics
• Fuji Electric Co. Ltd.

A quantum computer's processing power relies on superconducting qubits that function at extremely low temperatures. However, as the number of qubits needed for processing tasks increases, so does the number of control cables required, which can cause excessive heat and compromise the quantum processor's low temperature. To overcome this issue, a potential solution is to use a classical processor located nearby to control the quantum processor. One promising technology for this purpose is single flux quantum (SFQ), which employs superconducting technology instead of semiconductors to follow classical computer logic. Although SFQ has been successful in a few classical computers, its low-temperature requirements have limited its widespread use.

While the low-temperature requirements of single flux quantum (SFQ) technology have limited its widespread use in classical computers, this disadvantage can become a significant advantage when used with superconducting quantum computers. Furthermore, traditional central processing units (CPUs) and graphics processing units (GPUs) that utilize silicon chips have a considerable drawback in their high-power consumption due to energy dissipation. However, replacing silicon chips with superconducting SFQ chips in GPUs could significantly enhance performance while reducing power consumption. As a result, the demand for superconducting chips to scale up quantum computers and supercomputers is driving the growth of the superconductors market.

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Superconductors Market Segmentation:

By Type:
• Low Temperature Superconductors (LTS)
• High Temperature Superconductors (HTS)

By Application:
• Medical
• Electronics
• Defense & Military
• Others

The COVID-19 pandemic severely impacted North America, with countries in the region witnessing a drop in national GDPs, international trade, and economic activities. The electronic industry in North America was disrupted during the first half of 2020, leading to a massive decline in the revenue of key players operating in the superconductors market. The outbreak of COVID-19 resulted in a decrease in component manufacturers and disruptions in the supply chains across the region. Furthermore, the US, being the largest producer and consumer of superconductor products, faced strict government regulations in the mid of 2020 to ensure COVID-19 safety measures, leading to significant disruptions in the manufacturing and supply chain of superconductors. As a result, superconductor manufacturing companies encountered revenue losses and slow growth. However, from late Q4 of 2020, as the economy started to recover, the demand for superconductors showcased growth in adoption rate from various end-users in the superconductors market.

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