Superconducting Wire Market Consumption, Brand Analysis Growth Factors, Global Analysis by Leading Companies with Forecast to 2023


Posted February 25, 2019 by DhanashreeP

Superconducting Wire Market Research Report: Information by Type (High Temperature, Low and Medium Temperature), Application (Energy, Medical, Industry, and Research), and Region – Global Forecast till 2023
 
The global Superconducting Wire Market is estimated to expand at ~9.80% CAGR during the forecast period. Superconducting wire is composed of superconductors such as niobium-titanium. It displays zero electrical resistance when cooled below its transition temperature. Currently, high temperature superconductors such as yttrium barium copper oxide (YBCO) tend to offer greater advantages over copper and aluminum such as higher maximum current densities and zero power dissipation. Superconducting wires are also used in transformers, in power storage devices, smart grid as well as in electric motors. Superconducting wires are of two types, high-temperature superconducting wires and low-temperature superconducting wires, based on temperature at which the conductor needs to be cooled to make it a superconductor.

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The growing demand for superconducting wire market is attributed to the growing demand for superconductor based MRI system, synergies of h.v. transmission application and high efficiencies, and advancement in computer chip designing technology leading to higher demand for superconductors. Moreover, The South Korean Electric company has ordered over 3000km of wire from American superconductor and has used it to build a 10km line running into the suburbs of Seoul. There is great potential in the emerging superconductor for various practical applications areas such as magnetic resonance imaging (MRI), fault current limiters, power cables, motors, generators, magnetic separators, transformers.
High temperature superconducting wire segment in global Superconducting Wire Market holds the highest market share in 2017.

The Superconducting Wire Market has been segmented based on type into high temperature superconductors and low & medium temperature superconductors. Among these types, High temperature superconducting wire segment is expected to dominate the superconducting wire market owing to increased use of these types of wires in medical, industrial processing, research, and electronics. High temperature superconducting wires are further bifurcated into first and second generation HTS wires. Majority for superconducting wire manufacturers are moving towards new second generation HTS materials utilizing rare earth, barium-copper-oxide (ReBCO) compounds. Second generation HTS materials are considered as superior superconductor by offering better performance in a magnetic field and improved mechanical properties - all at lower cost.

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Prominent Players:
American Superconductor Corporation, Fujikura Ltd., Furukawa Electric Co., Ltd., Superconductor Technologies Inc., Bruker Corporation, Eaton, Sumitomo Electric Industries, Superox, Theva Dunnschichttechnik GmbH, Japan Superconductor, Phoenix Contact, and Fuji Electric

Superconducting Wire Market Segmental Analysis:
Global Superconducting Wire Market, By Type
• High Temperature Superconductors
• Low and Medium Temperature Superconductors
Global Superconducting Wire Market, By Application
• Energy
• Medical
• Industry
• Research
Global Superconducting Wire Market, By Regions
• North America
• Asia-Pacific
• Europe
• Rest of the World

Superconducting Wire Regional Market Analysis:
Europe held the largest market share of the global superconducting wire market in 2017. It is estimated that Asia-Pacific region would be the fastest growing market during the forecast period, mainly due to the rising investment in automation and advancement in computer chip designing technology. Moreover, Superconducting wires can be used for various applications including high field magnet applications and nuclear magnetic resonance (NMR) & magnetic resonance imaging (MRI) magnets. Also, computer chip designing technology of which superconducting wire is an integral part is also witnessing some major technological advancement.

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Tags superconducting wire market , superconducting wire market analysis , superconducting wire market forecast , superconducting wire market growth
Last Updated February 25, 2019