Superconducting magnet market forecast
Superconducting magnet market forecast
The global superconducting magnets market is expected to witness rapid growth over the next seven years owing to increasing demand from various end-use industries. Magnets made of superconducting coils are called superconducting magnets. The ability of these magnets to provide extremely high magnetic fields at low operating costs is touted to support global markets. The healthcare industry has grown rapidly over the past few years and is expected to grow further over the forecast period. Superconducting magnets are used in the operation of MRI machines. This trend will drive the global market.
These magnets are also widely used in the field of nuclear research. They are used in the production of nuclear magnetic resonance (NMR) equipment. When used in conjunction with nuclear magnetic resonance (NMR), these magnets are extremely beneficial for treating cancers in certain vital organs. This aspect is estimated to further boost the global market growth over the forecast period. The nuclear industry has also seen rapid growth recently, with further growth expected over the next seven years. These magnets are used to stabilize nuclear waste. This trend is expected to further drive the growth of the global superconducting magnets market over the forecast period.
The television industry is also estimated to drive the growth of the global market. These magnets are used to maintain resonant frequencies that produce very specific very high frequencies (VHF) and ultra high frequencies (UHF) in TV sets. This is expected to benefit the global market. Superconducting magnets have long been combined with molecular biology, leading to major developments in the pharmaceutical industry. These magnets aid in certain drug discovery processes. This trend will favor the growth of the global superconducting magnets market. The paper industry has grown rapidly over the past few years and is expected to grow further in the near future.
These magnets are used to remove weak magnetic contaminants from wood pulp. This is expected to augment the growth of the global superconducting magnets market over the next seven years. The ceramic industry is an important industry in the end application industry of superconducting magnets. These magnets are used to enhance the whiteness of ceramics. Superconducting magnets are used for magnetic floats on train tracks. The Magexian float train industry is expected to witness a high growth rate due to government initiatives to encourage mass transit in several areas over the next seven years. The trend has been touted as a boost to global markets.
Magnetic levitation is also used for product display. This is another factor touted as supporting the growth of the global market. Moderate to slow growth in the production of superconducting magnets is expected to hinder the growth of the global market over the forecast period. The high cooling cost of these magnets is estimated to hinder the growth of the global market. Due to the emerging nature of the industry, insufficient technical knowledge is expected to hinder the global market. Superconducting magnets have various laboratory uses and applications, providing ample room for market development in the near future. This is expected to drive the growth of the global market. R&D programs to develop new applications and cost-effective use provide ample opportunities for market players.
