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.
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.
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.
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.
Some of the examples of the market participants in the global superconducting wire market, identified across the value chain are:
The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to categories such as market segments, geographies, type of product and applications.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain.
The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
Segmentation ofsuperconducting wire market can be doneon the basis of the end use industry as follows:
Segmentation of Superconducting Wire Market can be doneon the basis of material used as follows:
Segmentation of superconducting wire Market can be doneon the basis of type as follows:
Segmentation of superconducting wire Market can be doneon the basis of application as follows:
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Superconducting Wire Market
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