Europe Superconductor Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Type (Low-Temperature Superconductors and High-Temperature Superconductors) and Application (Medical, Electronics, Defense & Military, and Others)

Europe Superconductor Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Type (Low-Temperature Superconductors and High-Temperature Superconductors) and Application (Medical, Electronics, Defense & Military, and Others)

The superconductor market in Europe is expected to grow from US$ 1,043.40 million in 2022 to US$ 1,784.92 million by 2028. It is estimated to grow at a CAGR of 8.4% from 2022 to 2028.
Superconducting technologies are esoteric systems used in laboratories, electronics, defense, hospitals, and many other places. The capacity of superconductivity to efficiently produce high magnetic fields that are otherwise exceedingly expensive to obtain with traditional materials has long been recognized by large science endeavors. High-field magnets for magnetic resonance imaging, laboratory magnetometers for characterizing minerals and materials, filters for mobile communications, and magnetoencephalography for studying the human brain are the most successful applications outside large science.
Additionally, there are several special safety considerations to keep in mind when utilizing superconducting magnetic equipment, such as nuclear magnetic resonance (NMR), magnetic resonance imaging (MRI), and other equipment. EH&S's Radiation Safety team is responsible for determining specific risks for each facility housing, such as magnetic sources, identifying hazardous areas, reviewing safety precautions, and providing training when needed. Supervisors and lead investigators make sure that all employees are properly trained to carry out the responsibilities that have been delegated to them and that all protective control measures are maintained. This increase in the implementation of safety and environmental management systems is driving the superconductors market.
With new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the Europe superconductor market at a substantial CAGR during the forecast period.
Europe Superconductor Market Revenue and Forecast to 2028 (US$ Million)
Europe Superconductor Market Segmentation
The Europe superconductor market is segmented on the basis of type, application, and country. Based on type, the market is segmented into low-temperature superconductors and high-temperature superconductors. In 2022, the low-temperature superconductors segment held a larger market share. On the other hand, the high temperature superconductors are expected to register a higher CAGR during the forecast period.
Based on application, the market is segmented into medical, electronics, defense and military, and others. The medical segment held the largest market share in 2022 and is also expected to register the highest CAGR in the market during the forecast period.
Based on country, the market is segmented into Germany, France, Italy, the UK, Russia, and the Rest of Europe. In 2022, Germany held a larger market share. On the other side, and the UK is also expected to register a higher CAGR during the forecast period.
Caterpillar Inc.; CNH Industrial N.V.; Komatsu Ltd.; Liebherr; Terex Corporation; Zoomlion Heavy Industry Science & Technology Co., Ltd.; J C Bamford Excavators Ltd. (JCB); Deere & Company; AB Volvo; and Hitachi Construction Machinery Co., Ltd. are the leading companies in the Europe superconductor market.

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