Superconducting Wire Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 - 2025
- Transparency Market Research
Superconducting wire is a wire made of superconductors which has zero electrical resistance, and can replace the traditional large and heavy cables. Superconducting wires are used in a wide variety of applications such as electric power, energy industry, large scale computing, electric utility applications and many more. Niobium-titanium (NbTi) is one of the most commonly used superconducting wire, which is widely used for making superconducting magnets. Superconducting magnets are electromagnets made from coils of superconducting wires. These superconducting magnets are further used in the transportation industry. For instance, maglev trains could use the superconducting magnets for its levitation from the track level. It is one of the most efficient ways of creating a powerful magnetic field with a reasonable energy cost. Furthermore, it could also be used in the medical industry in Magnetic Resonance Imaging (MRI) machines. The superconducting wire can be used in formation of particle accelerators. The use of superconducting wires help the flow of large amount of electric current through significantly lower dimensions of cables possible. Superconducting wires are further used in a wide variety of industrial applications for carrying out large amount of current with no voltage drop.
The global superconducting wire market is expected to see significant growth during the forecast period 2017-2025 owing to the increased use of superconductors in various industry verticals. Additionally, the significant benefits associated with using superconducting wires in place of traditional cables is likely to have an impact on the global superconducting wire market. The amount of voltage carried by a superconducting wire is considerably high as compared to the traditional cables used. The high expenses associated with superconducting wires is a factor which could hamper the growth of the global superconducting wire market. Superconductors are to be kept under a critical temperature and are often supplemented by a magnetic field to avoid internal forces, maintenance of which could be expensive.
The global superconducting wire market is segmented in terms of type, industry, and geographical regions. On the basis of type, the market is segmented into Low Temperature Superconductor (LTS) wire and High Temperature Superconductor (HTS) wire. LTS wires are made from superconductors with low critical temperature while HTS wires are made from superconductors with high critical temperatures. LTS wires are cheaper compared to their counterpart. Owing to the low cost, LTS wires could see significant application in commercial use. LTS can be used for MRI magnets, Nuclear Magnetic Resonance (NMR) magnets, accelerator magnets, fusion magnets, Superconducting Magnetic Energy Storage (SMES) magnets and many more. HTS wires are used for induction heater magnets, current leads and more. Based on end use industry, the global superconducting wire market is segmented into healthcare, transportation, electrics and electronics and others. The healthcare industry is expected to have a significant share of the global superconducting wire market during the forecast period 2017-2025. As per geographical region, the superconducting wire market is segmented into North America, South America, Middle East & Africa, Europe, and Asia Pacific. Owing to the significant growth of the healthcare industry, the Asia Pacific region could see significant growth in the global superconducting wire market.
The superconducting wire market has many players due to the wide variety of uses. Some of the key players are Furukawa Electric Co. Ltd., Fujikura Ltd., Superconductor Technologies Inc., Siemens AG, Metal Oxide Technologies, American Semiconductor, Bruker Corporation, Supercon Inc., Japan Superconductor Technology Inc., and Sumitomo Electric Industries Ltd.
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