Global Superconducting Wire Market 2021 (Includes Business Impact of COVID-19)

                                          
Report updated on 11th September, 2021: Global Superconducting Wire Market 2021 (Includes Business Impact of COVID-19)
Global Superconducting Wire Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2030 is a recent report generated by Trusted Business Insights. The global superconducting wire market report has been segmented on the basis of material, type, end user, and region.
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The global Superconducting Wire market size was valued at USD $977.20 billion in 2020 and is projected to reach $2360.84 billion by 2030, and is anticipated to expand at a CAGR of 9.26% over the forecast period from 2020 to 2030.


Global Superconducting Wire Market: Overview


Superconducting wire is made up of superconductors which are electrical resistant and can replace the traditional large and heavy cables. Various types of superconducting materials such as stainless steel, yttrium barium copper oxide, and other materials are used for the production of the superconducting wires. These wire offer several advantages over traditional wire and are majorly used in medical industry, military, electrical & electronics industry, and defense sector.


Global Superconducting Wire Market: Dynamics


Increasing demand for superconducting materials in high-voltage transmission applications including energy, medical, defense, electronics, and industrial applications and growing interest for superconductor based Magnetic Resonance Imaging (MRI) systems are some of the factors expected to boost growth of the target market. In addition, advancement in computer chip design technology is also expected to play an important role for growth of the global market. Moreover, increasing efficiency and improved transmission capabilities provided by the advanced superconducting materials are also anticipated to boost growth of the target market. Furthermore, development of smart cities along with stringent energy-efficiency standards are expected to drive overall energy segment, which is expected to create new opportunity for the superconducting wire market over the forecast period.

However, lack of standard testing facilities and high manufacturing cost of superconductors, which may affect demand and restrain growth of the global market over the forecast period.


Global Superconducting Wire Market: Segment Analysis


Among the material segments, the yttrium barium copper oxide (YBCO) segment is expected to hold significant share in the market over the forecast period.

Among the type segments, the high temperature superconductor segment is projected to maintain its dominance over the forecast period.

Among the end user segment, the medical segment accounts for largest market share during the forecast period. Furthermore, energy segment is expected to witness highest CAGR in the target market during the forecast period.


Global Superconducting Wire Market: Regional Analysis


The markets in the North America and Europe accounts for largest market share in terms of revenue in the global market and expected to maintain its dominance over the forecast period. This dominance can be attributed to extensive R&D investments in developing second-generation superconducting wire technology along with high investments to commercialize superconductors are some of the major factors anticipated to bolster growth of the target market in the region.

The superconducting wire market in Asia Pacific is projected to grow at a significant rate over the forecast period. Factors such as advancement in semiconductor technology such as low temperature superconductor (LTS) electromagnets in manufacturing Nuclear Magnetic Resonance (NMR) and Magnetic Resonance Imaging (MRI) are some of the factors expected to drive growth of the target market in the region. In addition, expansion of the smart cities with regulations and standards for the reasonable consumption of the energy in countries such as India, South Korea, and Japan expected to boost growth of the target market over the forecast period.


Below are the active patents related to Superconducting Wire Market.


Patent Number: US8437819B2

Superconductor cable

Abstract

Superconductor cable having a plurality of flat, tape-shaped ribbon superconductor wires assembled to form a stack having a rectangular cross section, the stack having a twist about a longitudinal axis of the stack. Multiple superconductor cables including twisted stacked-cables of the flat-tape-shaped superconductor wires, and power cable comprising the twisted flat-tape stacked cables are disclosed. Superconducting power cable disposed within and separated from an electrical insulator with a space passing cryo-coolant between the superconducting cable and insulator is also disclosed.

Application filed Date: 2009-06-19

Application granted Date: 2013-05-07

Current Assignee: Massachusetts Institute of Technology

Global Superconducting Wire Market Segmentation:

Segmentation by Material:

  
Stainless steel
  
Yttrium barium copper oxide
  
Bismuth strontium calcium copper oxide
  
Others

Segmentation by Type:

  
Low Temperature Superconductor
  
Medium Temperature Superconductor
  
High temperature Superconductor (First Generation and Second Generation)

Segmentation by End User:

  
Energy
  
Medical
  
Defense
  
Transportation


Key Market Players included in the report:


  
American Superconductor Corporation.
  
Bruker Corporation
  
Eaton Corporation
  
Fuji Electric
  
Furukawa Electric Co., Ltd.
  
Japan Superconductor Technology, Inc.
  
Metal Oxide Technologies
  
Phoenix Contact
  
Siemens AG
  
Sumitomo Electric Industries
  
SuNAM Co., Ltd.
  
Superconductor Technologies Inc
  
Theva Dunnschichttechnik GmbH