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.
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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