“Superconducting Cable Market with Industry Capacity, Future Prospects, Revenue, Gross Margin Economic Aspect and Forecast to 2028” recent intelligence study by MarketResearchReports.Biz.
The global “Superconducting Cable Market” is evolving at an exciting pace driven by changing dynamics and risk ecosystem, an analysis of which forms the crux of the report. The study on the global “Superconducting Cable Market” takes a closer look at several regional trends and the emerging regulatory landscape to assess its prospects. The critical evaluation of the various growth factors and opportunities in the global “Superconducting Cable Market” offered in the analyses helps in assessing the lucrativeness of its key segments.
Superconductivity is a phenomenon exhibited by superconductors, in which the material exhibits no electrical resistance below a certain cryogenic temperature. Superconducting wires are made from superconducting materials of several types. These wires, when cooled below their transition temperature gain the ability to carry electricity indefinitely without any resistance or loss of energy and zero power dissipation with higher current density as compared to copper or aluminum wires. Due to its properties, superconducting wire finds its application in medical industry, electrical and electronics industry, military, and defense. Whereas, one of the major applications of superconducting wire is in superconducting magnet, which is mainly used in medical as well as in scientific equipment in which there is a need for high magnetic field. Superconductor magnets are extensively used in MRI/NMR (magnetic resonance imaging) machines. It is also used in particle accelerator as beam steering magnet and in mass spectrometers.
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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, on the basis of temperature at which the conductor/wire needs to be cooled to make it a superconductor. The high-temperature superconducting wire is made up of superconducting material with high critical temperatures (high superconductivity) such as YBCO and BSCCO. The high-temperature superconducting wire has the ability to achieve the superconducting state at a temperature of 77K, which can be attained using inexpensive liquid nitrogen. However, low-temperature superconducting wires require a temperature as low as 4 K to achieve superconductivity, which can be easily attained with the use of liquid helium. Low-temperature superconducting wires are more successful in commercial use. Clinical MRI is one of the major commercial applications of superconductivity and remains the major market today.
Superconducting Wire Market:Dynamics
The market of superconducting wire is expected to rise significantly due to increasing demand for superconductors in computer chip design technology in the electronics industry and MRI systems in medical applications. Moreover, advancements in the medical field and significant demand for highly efficient electric motor will have a positive impact on superconducting wire market. Also, increasing demand for semiconducting wires in many end use applications such as MRI, particle accelerator and mass spectrometer will also boost the market in the forecast period. However, lack of acceptance with respect to reliability and high cost will hamper the market growth. Also, the volatility in the prices of raw materials such as yttrium will also act as a restraint to the growth of superconducting wire market.
Superconducting Wire Market:Market Segmentation
- Segmentation ofsuperconducting wire market can be doneon the basis of the end use industry as follows:
- Pharmaceutical & Healthcare
- Military & Defence
- Electrical and Electronics
- Railways Industry
- Segmentation of Superconducting Wire Market can be doneon the basis of material used as follows:
- Yttrium barium copper oxide
- Bismuth strontium calcium copper oxide
- Stainless steel
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- Segmentation of superconducting wire Market can be doneon the basis of type as follows:
- High temperature super conducting wire
- High temperature super conducting wire
- Segmentation of superconducting wire Market can be doneon the basis of application as follows:
- MRI (magnetic resonance imaging)
- Electric motors
- particle accelerator
Superconducting Wire Market: Regional Outlook
Europe holds a significant share in the global Superconducting Wire Market in terms of demand. The Superconducting Wire Market in North America is expected to grow at a substantial rate over the forecast period. In Asia-Pacific, development of smart cities with strict energy-efficiency standards will bolster the superconducting wire market. Market in rest of the world is estimated to account for a relatively small share in the global Superconducting Wire Market.
Superconducting Wire Market: Market Participants
Some of the examples of the market participants in the global superconducting wire market, identified across the value chain are:
- Fujikura Ltd. (Japan)
- American Superconductor Corporation (U.S.),
- Bruker Corporation (U.S.)
- Superconductor Technologies Inc. (U.S.)
- Furukawa Electric Co., Ltd. (Japan)
- Japan Superconductor Technology, Inc.
- Sumitomo Electric Industries, Ltd.
- Supercon Inc.
- Theva Dünnschichttechnik GmbH
MRR.BIZ has been compiled in-depth market research data in the report after exhaustive primary and secondary research. Our team of able, experienced in-house analysts has collated the information through personal interviews and study of industry databases, journals, and reputable paid sources.
The report provides the following information:
- Tailwinds and headwinds molding the market’s trajectory
- Market segments based on products, technology, and applications
- Prospects of each segment
- Overall current and possible future size of the market
- Growth pace of the market
- Competitive landscape and key players’ strategies
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- Enable key stakeholder’s in the market bet right on it
- Understand the opportunities and pitfalls awaiting them
- Assess the overall growth scope in the near term
- Strategize effectively with respect to production and distribution
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