(PR Web Via Acquire Media NewsEdge) Albany, New York (PRWEB) September 21, 2013
A superconductor is a material that transfers electrons at critical temperature (Tc) from one atom to another without generating any resistance (heat, sound, or any other form of energy). The demand for superconductors is growing rapidly due to their increasing applications in commercial, health care, and industrial sectors. Superconductors are also widely used in technologically advanced studies and in magnetic resonance imaging.
Asia-Pacific is the leading regional market for this industry and is expected to dominate in the future with the expected positive economic outlook in emerging markets such as India, China, and Japan. Japan is the traditional market for this industry and is taking steps to expand globally by leveraging the potential of super conductivity applications. North America is another important market for this industry.
By product type, the market growth is led by low temperature superconductors (LTS). Moreover, the extensive research involved in the development of high temperature superconductors (HTS) will also boost the demand for superconductors in the power industry. The magnetic resonance imaging segment holds the leading share by end user applications, and the electronic devices segment is expected to experience the fastest growth due to the emerging applications of superconductors in this segment.
The cost of electricity is set to rise globally and many governments have implemented stringent regulations to reduce the effect of global warming. In such a scenario, the superconductor industry holds a strong opportunity due to its ability to facilitate strong cost-effective and eco-friendly solutions. The success of this industry primarily depends on the reliability and cost overheads of the cooling systems. Increasing awareness about the significance of superconductors will drive the demand for superconductors in powering electric motors, storage devices, and electronic devices.
Applications of superconductors have expanded to medicine, transportation, information storage communication, industrial processing, and power generation from its traditional applications such as research and development, military and scientific. Development in superconducting materials and improved system designs will further extend their applications in emerging business segments. Industry players can take this opportunity to penetrate this emerging market.
The semiconductor industry comprises of large numbers of established players and there are many emerging players looking to enter this market. Some big companies in this industry are American Superconductor Corporation, Furukawa Electric Co., Bruker Energy & Supercon Technologies, SuperPower, Japan, Southwire Company, Hyper Tech Research, Sumitomo Electric Industries, Oxford Instruments, LS Cable, and Superconductor Technologies.
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