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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Prominent
Players
The key players of 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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Industry
Highlights
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.
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.
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