Superconductor Market: Product Landscape
Based on the product, the market saw maximum growth in the superconducting magnets segment in 2019. The growth of this segment can be attributed to the extensive use of superconducting magnets in MRI systems. Besides, continuous R&D efforts in superconducting materials and magnets are further driving the growth of the segment. The market growth in the segment will be significant over the forecast period.
Superconductor Market: Geographic Landscape
By geography, APAC is going to witness lucrative growth during the forecast period. About 62% of the market s overall growth is expected to originate from APAC. Factors such as rising investments in the development of power grids, grid expansion and modernization activities, and the increasing focus on renewable energy sources are driving the growth of the market in APAC. China and Japan are the key markets for superconductors in APAC.