Global Liquid Helium Free Superconducting Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Liquid Helium Free Superconducting Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

A superconducting magnet system is a device that uses superconducting materials to produce and maintain a magnetic field. These devices are used in a variety of applications, including MRI machines, particle accelerators, and nuclear fusion reactors. The main importance of these systems is their ability to produce very strong magnetic fields with little power input. This makes them ideal for use in high-power applications such as particle accelerators and nuclear reactors. Liquid helium free superconducting magnet refers to a superconducting magnet that does not use liquid helium. Compared to conventional superconducting magnetic resonance products that use liquid helium to cool the superconducting coils in the magnet, liquid helium free superconducting magnets can be produced and used at a lower cost, simplifying the magnet structure and reducing the weight of the magnet, among other advantages.

Market Overview:

The latest research study on the global Liquid Helium Free Superconducting market finds that the global Liquid Helium Free Superconducting market reached a value of USD 30.98 million in 2022. It’s expected that the market will achieve USD 47.3 million by 2028, exhibiting a CAGR of 7.31% during the forecast period.

Helium is a precious non-renewable resource, and more than 80% of the global supply of liquid helium comes from the United States. As a strategic material, since 2007, the United States has restricted the production of liquid helium, which has led to a continuous surge in the global price of liquid helium. Magnetic resonance (MRI) consumes 30% of the global helium consumption, and is the industry with the largest consumption. The content of helium resources in nature is very small, and helium has important uses in satellite spacecraft launch, missile weapon industry, low-temperature superconductivity research, and semiconductor production. At this stage, the entire life cycle of the superconducting magnetic resonance equipment in the hospital needs to continuously consume a large amount of liquid helium. Critical in the use of high-field MRI scanners (which use helium to cool the superconducting magnets to 4 kelvin or -269o C) the declining availability of helium is causing waves of concern across the research and medical field. Standard high field MRI scanners not only require hundreds of litres in which to bathe the superconducting magnet but need regular top-ups as helium leaks away. The high cost of liquid helium has been a problem faced by users of conventional superconducting magnets. With declining reserves and increasing prices finding an alternative solution was critical.

Superconducting magnets are widely used in MRI machines, NMR equipment, mass spectrometers, magnetic separation processes, and particle accelerators. Magnetic Resonance Imaging (MRI) is an efficient diagnostic machine for identifying diseases related to spine lesions, tumors, and strokes impacting the area of blood vessels and the brain. The increasing prevalence of diseases is driving the market growth. For instance, as per the International Agency for Research on Cancer, in 2020, 19,292,789 new cancer cases were recorded globally. In addition to this, the growing demand for quick and effective diagnostic procedures is expected to contribute to the adoption of MRI machines. Various countries are installing these MRI machines.

The technical stability of liquid helium free superconducting magnet products still faces huge technical challenges. Liquid helium free superconducting magnets still have limitations such as low refrigerator power, poor cooling uniformity, weak magnet stability, long pre-cooling time, refrigerator vibration, and are not yet suitable for large superconducting devices. In addition, the 1.5T liquid helium free superconducting magnet system is difficult to meet the needs of clinical diagnosis for secondary and tertiary hospitals. The high-level hospital market is still dominated by 3.0T nuclear magnetic demand; the liquid helium free superconducting magnet system has not yet been installed, and the stability of the product still needs to be verified by the market, and the process is still relatively long; in addition, because the magnetic field of superconducting magnetic resonance is uniform The accuracy and stability are greatly affected by the surrounding environment, so the requirements for its installation site are relatively high. It is necessary to consider the site selection of the machine room, the design of the site, and the requirements of the quench pipe (helium exhaust pipe).

Region Overview:

In 2021, the share of the Liquid Helium Free Superconducting market in North America stood at 38.50%.

Company Overview:

Oxford Instruments
Oxford Instruments plc is a UK manufacturing and research company that designs and manufactures tools and systems for industry and research. The company is headquartered in Abingdon, Oxfordshire, UK, with branches in the UK, US, Europe and Asia.

Japan Superconductor Technology Co., Ltd.,

Japan Superconductor Technology, Inc. was established in 2002. The company's line of business includes the manufacture of electrical equipment and supplies. JASTEC is a manufacturer of superconducting wires and magnets, contributing superconducting technology to the world.

Oxford Instruments is one of the major players in the liquid helium-free superconductivity market with a share of 28.54% in 2022.

Segmentation Overview:

By type, 3.0T Superconducting Magnet segment accounted for the largest share of market in 2021.

Application Overview:

By application, the Research Institutes segment occupied the biggest share from 2017 to 2022.

Key Companies in the global Liquid Helium Free Superconducting market covered in Chapter 3:

Magnetica
Cryomagnetics
Oxford Instruments
Shanghai Chenguang Medical Technology
Japan Superconductor Technology, Inc.
Western Superconductivity
MR SOLUTIONS
Cryogenic

In Chapter 4 and Chapter 14.2, on the basis of types, the Liquid Helium Free Superconducting market from 2018 to 2029 is primarily split into:

1.5T Superconducting Magnet
3.0T Superconducting Magnet

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Liquid Helium Free Superconducting market from 2018 to 2029 covers:

Hospitals
Research Institutes

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)