Superconducting wires are made up superconductors such as niobium-titanium and are employed in application across various use cases. They are majorly used in transformers, power storage devices, smart grids, and electric motors owing to the advantages they offer such as zero power dissipation, and superconductivity and are deployed to reduce energy consumption. Superconducting wires are made up of superconducting materials which when cooled below its transition temperature, has zero electrical resistance.
The global superconducting wire market is
anticipated to showcase noteworthy growth and register a CAGR of 9.80% over the
forecast period of 2016-2023, affirms Market Research Future (MRFR) in its
in-depth study.
Superconducting Wire Market Leading
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.
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Superconducting wires find
significant use in the medical industry too. Superconducting wires are capable
of producing large-volume, stable, and high-intensity magnetic fields required
for Magnetic Resonance Imaging (MRI) and Nuclear Magnetic Resonance (NMR). This
presents massive growth opportunities to the superconducting wire market.
Furthermore, growing smart city projects in the developed countries of the
world provide growth opportunities to the superconducting wire market.
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.
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
superconducting 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.
Segmentation
The
superconducting
wire market has been segmented based on
type and application.
By
type, the superconducting wire market has been segmented into high-temperature
superconductors and low & medium temperature superconductors. The
high-temperature superconducting wire segment is leading the market on account
of heightened use of these types of wires in medical, research, industrial
processing, and electronics.
By
application, the superconducting wire market has been segmented into energy,
medical, industry, and research.
Regional Analysis
By
region, the superconducting wire market has been segmented into North America, Rest-of-the-World
(RoW), Europe, and Asia Pacific (APAC).
Europe
seized the largest share of the market in 2017 and is anticipated to exhibit
substantial growth over the forecast period. High awareness regarding energy
conservation coupled with energy efficiency initiatives by the European Union
is fueling the growth of the Europe market.
North
America superconducting wire market is driven by various smart city projects
undertaken in the region along with a greater focus on energy conservation. The
expanding electrical industry in APAC is supporting the growth of the
superconducting wire market.
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Table Of Contents
1 Executive Summary
2 Market Introduction
2.1
Market Definition
2.2
Scope Of The Study
2.3
Market Structure
3 Research
Methodology
3.1
Primary Research
3.2
Secondary Research
3.3
Market Size Estimation
3.4
Forecast Model
3.5
List Of Assumptions
3.6
Limitations Of The Study
4 Market Insights
5 Market Dynamics
5.1
Introduction
5.2
Market Drivers
5.3
Market Restraints
5.4
Market Opportunities
5.5
Porter’s Five Forces Analysis
5.6
Value Chain/Supply Chain Analysis
6 Global
Superconducting Wire Market, By Type
6.1
Introduction
6.2
High Temperature Superconductors
6.3
Low And Medium Temperature Superconductors
7 Global
Superconducting Wire Market, By Application
7.1
Introduction
7.2
Energy
7.3
Medical
7.4
Industry
7.5
Research
8 Global
Superconducting Wire Market, By Region
9 Competitive Landscape
10 Company Profile
11 List Of Tables
12 List Of Figures
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