Boston, MA -- (SBWIRE) -- 08/20/2015 -- Superconductors are materials that allow the passage of electricity with zero resistance at their critical temperature (Tc). Due to zero resistance, there is no loss of energy in the form of heat or sound. A superconductor is not affected by external magnetic fields when in its superconducting state due to the Meissner effect, which is a unique property exhibited by them. The demand for superconductors has been increasing rapidly due to their wide adoption in various applications in the commercial, medical, and industrial sectors.

Get More Details on this Report and a Full Table of Contents at Global Superconductor Market 2015-2019

Technavio's analysts forecast the global superconductor market to grow at a CAGR of 3.64% over the period 2014-2019.

Commenting on the report, an analyst from Technavio's team said: "The market has been witnessing an adoption of superconductors in SMES systems and military applications. SMES systems are used as short-term power devices, designed to control fluctuations within a power system. The military uses superconducting tape to reduce the length of very low frequency antennas on submarines. The emergence of the Maglev levitation train will also support market growth in the forecast period."

According to the report, the demand for advanced power grid infrastructure has been a major driver for the global superconductor market. Also, at present, high-field magnets with zero DC resistance and high current density are used in RTD and some biomedical applications (e.g., MRI), and when coupled with the increased awareness of the advantages of superconductors, their demand will go up.

Further, the report states that the Cooling systems are needed to enable material to enter the superconducting state. For instance, liquid helium is used to help lower temperatures, and it is an expensive coolant. The increase in competition among vendors and fluctuations in the global economy are the other challenges faced by manufacturers in the global superconductor market.

The key players in the Global Superconductor Market are American Superconductor, Bruker, Southwire, Sumitomo Electric, SuperPower while other prominent vendors include ASG, Evico, Furukawa Electric, Hyper Tech, Japan, Superconductor, LS Cable, Oxford Instruments, Superconductor Technologies, and Zenergy Power.

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.

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