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Global Superconducting Wire Market Size, Share & Industry Trends Analysis Report by Type, Sales Channel, End User, Regional Outlook and Forecast, 2022-2028

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    Report

  • 208 Pages
  • March 2023
  • Region: Global
  • Marqual IT Solutions Pvt. Ltd (KBV Research)
  • ID: 5779048
Description Jump to:
The Global Superconducting Wire Market size is expected to reach $1.6 billion by 2028, rising at a market growth of 9.1% CAGR during the forecast period.

Electrical cables consisting of superconductive material are known as superconducting wires. These wireshave no electrical resistance when cooled past their transition temperatures. Although traditional superconductors like niobium-titanium are most frequently used, high-temperature superconductors like yttrium barium copper oxide (YBCO)are starting to gain popularity. Its primary use is in superconducting magnets applications generallyutilized in medical and scientific equipment where strong magnetic fields are required. The market for superconducting wire is primarily driven by the increasing use of superconducting wire in place of conventional wires and the development of offshore wind farms that use superconducting technologies.



Niobium-titanium, as well as other superconductors, make up the superconducting wire. YBCO, a high-temperature superconductor, currently offers numerous advantages over copper and aluminum, including significantly greater current densities as well aszero power dissipation. Superconducting cables are used in the smart grid, electric motors, transformers, and power storage devices. High-temperature superconducting wires,low-temperature superconducting wires, and the medium-temperature superconducting wire are the three mainvarieties of superconducting wires, respectively, based on the temperature at which the conductor must be chilled to become a superconductor.

The development of the superconducting wire market is primarily being driven by rising demand for MRI systems based on superconductors and improvements in the technology for creating computer chips, which has increased demand for superconductors. Moreover, these superconducting wiresare small and have a high-power transfer capacity. High-field magnet applications, magnetic resonance imaging (MRI), andnuclear magnetic resonance (NMR) magnets are just a few of the uses for superconducting wires. In addition, superconducting wire, a component of computer chip design technology, is also undergoing significant technical improvement.

COVID-19 Impact Analysis

The COVID-19 pandemic severely hampered business operations in the market for superconducting wire, the adoption of 5G technologies, the growing digitization of the world's economies, and significant investments in data centers opened up new business opportunities. The need for semiconductor devices is rising as organizations rapidly shift into digital enterprises. As a result, market participants must overcome the uncertainty caused by international macroeconomic issues and geopolitical trade disputes. Therefore, it is evident that the pandemic initially had a negative impact on the market, but the simultaneous shift of various industries toward digitalization presented growth opportunities for the market.

Market Growth Factors

Increasing use of superconducting wires in place of regular wires

Superconductivity has been demonstrated to reduce energy losses for transporting a significant quantity of energy over vast distances with less infrastructure development than traditional wire configurations. Compared to normal wires, high-temperature superconducting wires can assure minimal power transmission losses through cables, transformers, fault current limiters, and generators. In addition, since high-temperature superconducting wires are buried or laid on the ground instead of overhead, superconductors also reduce the need for electromagnetic disruptions, which are necessary for normal wires. Therefore, the increased usage of superconducting wires across industries for various purposes is propelling the expansion of the market.

Expanding research spending on superconducting wires

Toshiba Energy Systems & Solutions Company (Toshiba ESS) announced the creation of a prototype superconducting motor employing superconducting wires to address the needs of the mobility sector. Large mobility applications can benefit from the lightweight, high-output density, and high-speed rotation of this superconducting motor, which has the highest capacity of 2 MW. Throughout the projection period, it is also projected that additional magnetic levitation research and development projects for the healthcare and transportation industries would provide market participants with lucrative chances.

Market Restraining Factor

A shortage of technical skills in areas connected to superconductivity

The majority of applications, such as maglev, airborne generators, fusion reactors, rocket propulsion, generators, and high-field magnets, are still in the early stages of product development, and significant investments are being made in the search for new superconducting materials. Insufficient participation from end users is another factor that reduces the dependability of superconducting wires. All these factors significantly hamper the expansion of the superconducting wires market during the forecasted period.

Type Outlook

Based on type, the superconducting wire market is categorized into low temperature superconductor (LTS), medium temperature superconductor (MTS), and high temperature superconductor (HTS). The high temperature semiconductor (HTS) segment procured a considerable growth rate in the superconducting wire market in 2021. The demand for high temperature superconductors is anticipated to be driven by the expansion of offshore wind farms that use superconducting technology. One form of superconducting wire, known as a high temperature superconductor, is made primarily of ceramic materials and is created using the First Generation (1G HTS) as well as Second Generation methods (2G HTS).



End-user Outlook

On the basis of end user, the superconducting wire market is divided into medical, energy, transportation, research, and others. The medical segment acquired the largest revenue share in the superconducting wire market in 2021. The use of superconducting wires in nuclear magnetic resonance (NMR) as well as magnetic resonance imaging (MRI) apparatus are propelling the growth of the segment. Medical experts can examine and diagnose conditions with the help of non-invasive biomagnetic equipment. A superconductor compound with a reasonably high critical temperature is magnesium diboride (MgB2).

Sales Channel Outlook

Based on sales channel, the superconducting wire market is segmented into direct and indirect. The indirect segment garnered a remarkable growth rate in the superconducting wire market in 2021. A third party, like an associate or sales partner, indirectly sells a company's goods or services. In order to combine their resources and boost profits, businesses frequently combine indirect sales alongside direct sales. For example, businesses selling to other countries make software or hardware and may employ indirect sales techniques. Since most market participants are multinational companies or export most of their superconducting wires, they use indirect sales. The segment would grow further as more companies emerge in the market.

Regional Outlook

On the basis of region, the superconducting wire market is analyzed across North America, Europe, Asia Pacific, and LAMEA. The Europe segment procured the highest revenue share in the superconducting wire market in 2021. The market in this region is being driven by rising investments in nuclear fusion-based research and rising attempts to decarbonize the transportation sector. Furthermore, due to their capacity to boost a vehicle's speed at very high velocities with less interference from the atmosphere, superconductors are also anticipated to see an increase in automobile use.

The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Bruker Corporation, Furukawa Electric Co., Ltd., Fujikura Ltd., Eaton Corporation PLC, FUJI ELECTRIC CO., LTD., Phoenix Contact GmbH & Co. KG, Sumitomo Electric Industries, Ltd., Nexans SA, LS Cable & System Ltd., and MetOx Technologies, Inc.

Scope of the Study

By Type

  • Low Temperature Superconductor
  • Medium Temperature Superconductor
  • High Temperature Superconductor

By Sales Channel

  • Direct
  • Indirect

By End-user

  • Medical
  • Energy
  • Research
  • Transportation
  • Others

By Geography

  • North America
  • US
  • Canada
  • Mexico
  • Rest of North America
  • Europe
  • Germany
  • UK
  • France
  • Russia
  • Spain
  • Italy
  • Rest of Europe
  • Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Singapore
  • Malaysia
  • Rest of Asia Pacific
  • LAMEA
  • Brazil
  • Argentina
  • UAE
  • Saudi Arabia
  • South Africa
  • Nigeria
  • Rest of LAMEA

Key Market Players

List of Companies Profiled in the Report:

  • Bruker Corporation
  • Furukawa Electric Co., Ltd.
  • Fujikura Ltd.
  • Eaton Corporation PLC
  • FUJI ELECTRIC CO., LTD.
  • Phoenix Contact GmbH & Co. KG
  • Sumitomo Electric Industries, Ltd.
  • Nexans SA
  • LS Cable & System Ltd.
  • MetOx Technologies, Inc.

Unique Offerings

  • Exhaustive coverage
  • The highest number of market tables and figures
  • Subscription-based model available
  • Guaranteed best price
  • Assured post sales research support with 10% customization free

Table of Contents

Chapter 1. Market Scope & Methodology
1.1 Market Definition
1.2 Objectives
1.3 Market Scope
1.4 Segmentation
1.4.1 Global Superconducting Wire Market, by Type
1.4.2 Global Superconducting Wire Market, by Sales Channel
1.4.3 Global Superconducting Wire Market, by End-user
1.4.4 Global Superconducting Wire Market, by Geography
1.5 Research Methodology
Chapter 2. Market Overview
2.1 Introduction
2.1.1 Overview
2.1.1.1 Market Composition & Scenario
2.2 Key Factors Impacting the Market
2.2.1 Market Drivers
2.2.2 Market Restraints
Chapter 3. Global Superconducting Wire Market by Type
3.1 Global Low Temperature Superconductor Market by Region
3.2 Global Medium Temperature Superconductor Market by Region
3.3 Global High Temperature Superconductor Market by Region
Chapter 4. Global Superconducting Wire Market by Sales Channel
4.1 Global Direct Market by Region
4.2 Global Indirect Market by Region
Chapter 5. Global Superconducting Wire Market by End-user
5.1 Global Medical Market by Region
5.2 Global Energy Market by Region
5.3 Global Research Market by Region
5.4 Global Transportation Market by Region
5.5 Global Others Market by Region
Chapter 6. Global Superconducting Wire Market by Region
6.1 North America Superconducting Wire Market
6.1.1 North America Superconducting Wire Market by Type
6.1.1.1 North America Low Temperature Superconductor Market by Country
6.1.1.2 North America Medium Temperature Superconductor Market by Country
6.1.1.3 North America High Temperature Superconductor Market by Country
6.1.2 North America Superconducting Wire Market by Sales Channel
6.1.2.1 North America Direct Market by Country
6.1.2.2 North America Indirect Market by Country
6.1.3 North America Superconducting Wire Market by End-user
6.1.3.1 North America Medical Market by Country
6.1.3.2 North America Energy Market by Country
6.1.3.3 North America Research Market by Country
6.1.3.4 North America Transportation Market by Country
6.1.3.5 North America Others Market by Country
6.1.4 North America Superconducting Wire Market by Country
6.1.4.1 US Superconducting Wire Market
6.1.4.1.1 US Superconducting Wire Market by Type
6.1.4.1.2 US Superconducting Wire Market by Sales Channel
6.1.4.1.3 US Superconducting Wire Market by End-user
6.1.4.2 Canada Superconducting Wire Market
6.1.4.2.1 Canada Superconducting Wire Market by Type
6.1.4.2.2 Canada Superconducting Wire Market by Sales Channel
6.1.4.2.3 Canada Superconducting Wire Market by End-user
6.1.4.3 Mexico Superconducting Wire Market
6.1.4.3.1 Mexico Superconducting Wire Market by Type
6.1.4.3.2 Mexico Superconducting Wire Market by Sales Channel
6.1.4.3.3 Mexico Superconducting Wire Market by End-user
6.1.4.4 Rest of North America Superconducting Wire Market
6.1.4.4.1 Rest of North America Superconducting Wire Market by Type
6.1.4.4.2 Rest of North America Superconducting Wire Market by Sales Channel
6.1.4.4.3 Rest of North America Superconducting Wire Market by End-user
6.2 Europe Superconducting Wire Market
6.2.1 Europe Superconducting Wire Market by Type
6.2.1.1 Europe Low Temperature Superconductor Market by Country
6.2.1.2 Europe Medium Temperature Superconductor Market by Country
6.2.1.3 Europe High Temperature Superconductor Market by Country
6.2.2 Europe Superconducting Wire Market by Sales Channel
6.2.2.1 Europe Direct Market by Country
6.2.2.2 Europe Indirect Market by Country
6.2.3 Europe Superconducting Wire Market by End-user
6.2.3.1 Europe Medical Market by Country
6.2.3.2 Europe Energy Market by Country
6.2.3.3 Europe Research Market by Country
6.2.3.4 Europe Transportation Market by Country
6.2.3.5 Europe Others Market by Country
6.2.4 Europe Superconducting Wire Market by Country
6.2.4.1 Germany Superconducting Wire Market
6.2.4.1.1 Germany Superconducting Wire Market by Type
6.2.4.1.2 Germany Superconducting Wire Market by Sales Channel
6.2.4.1.3 Germany Superconducting Wire Market by End-user
6.2.4.2 UK Superconducting Wire Market
6.2.4.2.1 UK Superconducting Wire Market by Type
6.2.4.2.2 UK Superconducting Wire Market by Sales Channel
6.2.4.2.3 UK Superconducting Wire Market by End-user
6.2.4.3 France Superconducting Wire Market
6.2.4.3.1 France Superconducting Wire Market by Type
6.2.4.3.2 France Superconducting Wire Market by Sales Channel
6.2.4.3.3 France Superconducting Wire Market by End-user
6.2.4.4 Russia Superconducting Wire Market
6.2.4.4.1 Russia Superconducting Wire Market by Type
6.2.4.4.2 Russia Superconducting Wire Market by Sales Channel
6.2.4.4.3 Russia Superconducting Wire Market by End-user
6.2.4.5 Spain Superconducting Wire Market
6.2.4.5.1 Spain Superconducting Wire Market by Type
6.2.4.5.2 Spain Superconducting Wire Market by Sales Channel
6.2.4.5.3 Spain Superconducting Wire Market by End-user
6.2.4.6 Italy Superconducting Wire Market
6.2.4.6.1 Italy Superconducting Wire Market by Type
6.2.4.6.2 Italy Superconducting Wire Market by Sales Channel
6.2.4.6.3 Italy Superconducting Wire Market by End-user
6.2.4.7 Rest of Europe Superconducting Wire Market
6.2.4.7.1 Rest of Europe Superconducting Wire Market by Type
6.2.4.7.2 Rest of Europe Superconducting Wire Market by Sales Channel
6.2.4.7.3 Rest of Europe Superconducting Wire Market by End-user
6.3 Asia Pacific Superconducting Wire Market
6.3.1 Asia Pacific Superconducting Wire Market by Type
6.3.1.1 Asia Pacific Low Temperature Superconductor Market by Country
6.3.1.2 Asia Pacific Medium Temperature Superconductor Market by Country
6.3.1.3 Asia Pacific High Temperature Superconductor Market by Country
6.3.2 Asia Pacific Superconducting Wire Market by Sales Channel
6.3.2.1 Asia Pacific Direct Market by Country
6.3.2.2 Asia Pacific Indirect Market by Country
6.3.3 Asia Pacific Superconducting Wire Market by End-user
6.3.3.1 Asia Pacific Medical Market by Country
6.3.3.2 Asia Pacific Energy Market by Country
6.3.3.3 Asia Pacific Research Market by Country
6.3.3.4 Asia Pacific Transportation Market by Country
6.3.3.5 Asia Pacific Others Market by Country
6.3.4 Asia Pacific Superconducting Wire Market by Country
6.3.4.1 China Superconducting Wire Market
6.3.4.1.1 China Superconducting Wire Market by Type
6.3.4.1.2 China Superconducting Wire Market by Sales Channel
6.3.4.1.3 China Superconducting Wire Market by End-user
6.3.4.2 Japan Superconducting Wire Market
6.3.4.2.1 Japan Superconducting Wire Market by Type
6.3.4.2.2 Japan Superconducting Wire Market by Sales Channel
6.3.4.2.3 Japan Superconducting Wire Market by End-user
6.3.4.3 India Superconducting Wire Market
6.3.4.3.1 India Superconducting Wire Market by Type
6.3.4.3.2 India Superconducting Wire Market by Sales Channel
6.3.4.3.3 India Superconducting Wire Market by End-user
6.3.4.4 South Korea Superconducting Wire Market
6.3.4.4.1 South Korea Superconducting Wire Market by Type
6.3.4.4.2 South Korea Superconducting Wire Market by Sales Channel
6.3.4.4.3 South Korea Superconducting Wire Market by End-user
6.3.4.5 Singapore Superconducting Wire Market
6.3.4.5.1 Singapore Superconducting Wire Market by Type
6.3.4.5.2 Singapore Superconducting Wire Market by Sales Channel
6.3.4.5.3 Singapore Superconducting Wire Market by End-user
6.3.4.6 Malaysia Superconducting Wire Market
6.3.4.6.1 Malaysia Superconducting Wire Market by Type
6.3.4.6.2 Malaysia Superconducting Wire Market by Sales Channel
6.3.4.6.3 Malaysia Superconducting Wire Market by End-user
6.3.4.7 Rest of Asia Pacific Superconducting Wire Market
6.3.4.7.1 Rest of Asia Pacific Superconducting Wire Market by Type
6.3.4.7.2 Rest of Asia Pacific Superconducting Wire Market by Sales Channel
6.3.4.7.3 Rest of Asia Pacific Superconducting Wire Market by End-user
6.4 LAMEA Superconducting Wire Market
6.4.1 LAMEA Superconducting Wire Market by Type
6.4.1.1 LAMEA Low Temperature Superconductor Market by Country
6.4.1.2 LAMEA Medium Temperature Superconductor Market by Country
6.4.1.3 LAMEA High Temperature Superconductor Market by Country
6.4.2 LAMEA Superconducting Wire Market by Sales Channel
6.4.2.1 LAMEA Direct Market by Country
6.4.2.2 LAMEA Indirect Market by Country
6.4.3 LAMEA Superconducting Wire Market by End-user
6.4.3.1 LAMEA Medical Market by Country
6.4.3.2 LAMEA Energy Market by Country
6.4.3.3 LAMEA Research Market by Country
6.4.3.4 LAMEA Transportation Market by Country
6.4.3.5 LAMEA Others Market by Country
6.4.4 LAMEA Superconducting Wire Market by Country
6.4.4.1 Brazil Superconducting Wire Market
6.4.4.1.1 Brazil Superconducting Wire Market by Type
6.4.4.1.2 Brazil Superconducting Wire Market by Sales Channel
6.4.4.1.3 Brazil Superconducting Wire Market by End-user
6.4.4.2 Argentina Superconducting Wire Market
6.4.4.2.1 Argentina Superconducting Wire Market by Type
6.4.4.2.2 Argentina Superconducting Wire Market by Sales Channel
6.4.4.2.3 Argentina Superconducting Wire Market by End-user
6.4.4.3 UAE Superconducting Wire Market
6.4.4.3.1 UAE Superconducting Wire Market by Type
6.4.4.3.2 UAE Superconducting Wire Market by Sales Channel
6.4.4.3.3 UAE Superconducting Wire Market by End-user
6.4.4.4 Saudi Arabia Superconducting Wire Market
6.4.4.4.1 Saudi Arabia Superconducting Wire Market by Type
6.4.4.4.2 Saudi Arabia Superconducting Wire Market by Sales Channel
6.4.4.4.3 Saudi Arabia Superconducting Wire Market by End-user
6.4.4.5 South Africa Superconducting Wire Market
6.4.4.5.1 South Africa Superconducting Wire Market by Type
6.4.4.5.2 South Africa Superconducting Wire Market by Sales Channel
6.4.4.5.3 South Africa Superconducting Wire Market by End-user
6.4.4.6 Nigeria Superconducting Wire Market
6.4.4.6.1 Nigeria Superconducting Wire Market by Type
6.4.4.6.2 Nigeria Superconducting Wire Market by Sales Channel
6.4.4.6.3 Nigeria Superconducting Wire Market by End-user
6.4.4.7 Rest of LAMEA Superconducting Wire Market
6.4.4.7.1 Rest of LAMEA Superconducting Wire Market by Type
6.4.4.7.2 Rest of LAMEA Superconducting Wire Market by Sales Channel
6.4.4.7.3 Rest of LAMEA Superconducting Wire Market by End-user
Chapter 7. Company Profiles
7.1 Bruker Corporation
7.1.1 Company Overview
7.1.2 Financial Analysis
7.1.3 Segmental and Regional Analysis
7.1.4 Research & Development Expense
7.1.5 Recent Strategies and Developments
7.1.5.1 Partnerships, Collaborations, and Agreements
7.2 Nexans SA
7.2.1 Company Overview
7.2.2 Financial Analysis
7.2.3 Segmental and Regional Analysis
7.2.4 Research & Development Expense
7.2.5 Recent Strategies and Developments
7.2.5.1 Acquisition and Mergers
7.3 LS Cable & System Ltd.
7.3.1 Company Overview
7.3.2 Financial Analysis
7.3.3 Recent Strategies and Developments
7.3.3.1 Geographical Expansions
7.4 Furukawa Electric Co., Ltd.
7.4.1 Company Overview
7.4.2 Financial Analysis
7.4.3 Segmental and Regional Analysis
7.4.4 Research & Development Expense
7.5 Sumitomo Electric Industries, Ltd.
7.5.1 Company Overview
7.5.2 Financial Analysis
7.5.3 Regional & Segmental Analysis
7.5.4 Research & Development Expenses
7.6 Fujikura Ltd.
7.6.1 Company Overview
7.6.2 Financial Analysis
7.6.3 Segmental and Regional Analysis
7.6.4 Research & Development Expenses
7.7 Eaton Corporation PLC
7.7.1 Company Overview
7.7.2 Financial Analysis
7.7.3 Segmental Analysis
7.7.4 Research & Development Expense
7.8 Fuji Electric Co. Ltd.
7.8.1 Company Overview
7.8.2 Financial Analysis
7.8.3 Segmental and Regional Analysis
7.8.4 Research & Development Expense
7.9 Phoenix Contact GmbH & Co. KG
7.9.1 Company Overview
7.9.2 Recent Strategies and Developments
7.9.2.1 Acquisition and Mergers
7.10. MetOx Technologies, Inc.
7.10.1 Company Overview

Companies Mentioned

  • Bruker Corporation
  • Furukawa Electric Co., Ltd.
  • Fujikura Ltd.
  • Eaton Corporation PLC
  • FUJI ELECTRIC CO., LTD.
  • Phoenix Contact GmbH & Co. KG
  • Sumitomo Electric Industries, Ltd.
  • Nexans SA
  • LS Cable & System Ltd.
  • MetOx Technologies, Inc.

Methodology

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