Superconductor
Wire Market Scope
The
global superconducting wire market can expect to achieve a growth rate of 9.80%
during the forecast period (2016-2023), reveals Market Research Future (MRFR).
Top
Drivers and Primary Barriers
Soaring
demand for superconductors in computer chip design technology within the electronics
sector as well as in MRI systems in medical applications can stimulate market
growth in the coming years. Also, developments in the medical field coupled
with strong demand for efficient electric motors, can help the Superconductor
Wire Market advance at a fast-pace.
Rising
demand for semiconducting wires in a variety of end-use applications like particle
accelerator, mass spectrometer, and MRI will do wonders for the worldwide
market. The superconducting wire market is also benefiting from the ongoing projects
that are associated with superconducting wires across globe. To illustrate, the
South Korean Electric company has requested for more than 3000km of superconducting
wire from American superconductor, using it for building a 10km line that runs into
the suburbs of Seoul. The emerging superconductor possesses immense potential for
different practical applications aspects like fault current limiters, magnetic
resonance imaging (MRI), motors, power cables, magnetic separators, generators,
and transformers.
Superconducting
magnets are made from coils of superconducting wires. These superconducting
magnets find extensive use in the transportation industry. For example, maglev
trains make use of the superconducting magnets to levitate from the track
level. It is a highly successful method to create a strong magnetic field with
a reasonable energy cost.
Superconductor
Wire Market Segmentation
The
global superconducting wire market has been examined based on the primary
segments like type and application.
Considering
the type, the market can be split into high-temperature superconductors and low
& medium temperature superconductors. High-temperature superconducting wire
segment has managed to clinch the top position in the superconducting wire
market, given the high increased use of these wires in industrial processing,
medical, electronics, and research.
The
segments according to the application are medical, energy, research, and industry.
The energy segment can secure the fastest growth rate in the coming years,
thanks to the development of smart cities along with strict energy efficiency
standards.
Regional
Framework
Europe,
North America, Asia Pacific (APAC) and the rest of world (RoW) have been
considered as the primary regions by MRFR data experts, for the purpose of
studying all the facets of the global superconducting wire market.
In
2017, Europe gained a maximum foothold in the global superconducting wire
market, acquiring the largest share. Europe is projected to present a host of lucrative
growth avenues to vendors and manufacturers in the market. The strong market growth
in Europe has been brought on by the high commercialization of high-technology superconducting
materials. Besides, extensive research and development (R&D) activities
boosted by considerable investments in development of second-generation
superconducting wire technology buoys the market position in the region.
APAC
is believed to be growing at the fastest rate in the global superconducting
wire market. The impressive market growth in the region is the outcome of
significant advances in semiconductor technology. This has led to widespread use
of LTS electromagnets to make magnetic resonance imaging as well as nuclear
magnetic resonance magnets. Numerous conducting
wire developments such as new product launches, general announcements, and
acquisitions have occurred in the past few years within the region. Renowned manufacturers
like Furukawa Electric, Sumitomo Electric Industries, SuNam, and Fujikura have
taken the regional market to another level, in terms of revenue and size. The
most prominent markets for superconducting wire in the region are South Korea
and Japan.
The
North America superconducting wire market is deemed to have significant growth
over the coming years. The region is highly focused on energy application and
also notes a large number of high energy physics experiments, which boosts
market demand. In addition, elevating demand for cost-effective and energy-efficient
MRI systems seems to be having a lucrative effect on the regional market.
Top
Players
Top
players influencing the worldwide superconducting wire market include Japan
Superconductor, Furukawa Electric Co., Ltd., Phoenix Contact, Bruker
Corporation, Eaton, Sumitomo Electric Industries, Superox, Theva
Dunnschichttechnik GmbH, Fuji Electric, American Superconductor Corporation,
Fujikura Ltd., Superconductor Technologies Inc., to name a few.
No comments:
Post a Comment