Superconducting Wire Market Overview

The global Superconducting Wire market is projected to grow at a high rate during the forecast period, due to various activities going on in the field of superconductivity. There are several research projects based on superconductors, which are underway, in the universities such as University of Houston, and Massachusetts Institute of Technology in the US which have made several breakthroughs in superconductor technologies for medical, energy, and industrial applications.

The global Superconducting Wire Market is estimated to expand at 9.80% CAGR during the forecast period. 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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Industry Highlights

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.

Key Players

The key players of the global Superconducting Wire Market are 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, among others

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Segmental Analysis

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.

Regional Outlook

Region wise, 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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