Superconducting Wire Market - Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017 - 2025

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Superconducting Wire Market - Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017 - 2025

Status : October, 2020 | Semiconductor & Electronics | PPT format

Report Digest


Global Superconducting Wire Market: Overview 

Superconducting wires are made up of superconducting materials which, when cooled below a certain temperature (transition temperature), exhibit zero electrical resistance. The superconductor material used is usually in the form of filament and theoretically allows the persistent flow of electric current across any loop of superconductor wire. Superconductor magnets find extensive applications in MRI/NMR machines, mass spectrometers, and in particle accelerators as beam-steering magnets. Recent applications of superconducting wires include their use in smart grid, transformers, power storage devices, and electric motors. 

Second-generation high temperature superconducting wires, with significantly higher transition temperatures, are mainly made up of rare Earth compounds such as yttrium, samarium, and neodymium. Allowing competitive cost-benefits and multi-functionalities, the demand for these materials is rising rapidly in the making of various electrical power equipment and medical equipment, opening up a spate of promising avenues in the market. 

Global Superconducting Wire Market: Key Trends 

The global market is primarily driven by the burgeoning demand for superconducting materials in high-voltage transmission applications and in making MRI systems. The increasing demand for high-temperatures superconducting materials in numerous areas such as energy, medical, defense, electronics, and industrial applications is expected to boost the market. Advances in computer chip designing technology are expected to spur the demand for superconductors with high critical current capacity and enhanced power performance. 

High manufacturing cost involved in making superconductors and dearth of standard testing facilities are likely to restrain the superconducting wire market to some extent. On the other hand, continuous scaling efforts by manufacturing units and intensive advances in R&D technology are expected to expand the commercial applications of superconducting wires. 

Global Superconducting Wire Market: Market Potential 

Bruker Corporation, a U.S. based manufacturer of scientific instruments for materials researches and industrial analysis, announced at the end of 2016 that it was planning to acquire Oxford Instruments Superconducting Wire LLC (OST). The deal was finalized by Bruker’s subsidiary, Bruker Energy and Supercon Technologies (BEST), for an aggregate sum of U$17.5 million. BEST pioneers in low temperature superconductors for being used in MRI, NMR, and fusion energy researches. Post finalization of the buyout deal, the manufacturer made efforts to expand its technology portfolio with the Rod Restack Process (RRP) conductor technology from OST. The technology is especially in demand for various high-energy physics applications that require considerably high magnetic fields. 

The deal marked a strategic acquisition for BEST as it strengthened its position in the low-temperature superconductors (LTS) market. The company already enjoys a sustained position in LTS segment and has made numerous investments in the past to boost capacity automation and quality control. 

With the integration of the OST technology, BEST hopes to emerge as a world-leading LTS provider with a broad product portfolio that will house superconducting wires with advanced conductor performance and quality. Furthermore, with such strategic buyouts in place, Bruker Corporation hopes to consolidate its positions across prominent regions such as the U.S. and China. These developments are poised to expand the potential of the superconducting wire market. 

Global Superconducting Wire Market: Regional Outlook 

North America, Europe, and Asia Pacific are the prominent markets for superconductor wires. Europe is expected to offer lucrative growth avenues to manufacturers and vendors of superconducting wires. The substantial growth in the regional market is expected to be driven by increased commercialization of high-technology superconducting materials and extensive R&D investments in developing second-generation superconducting wire technology. 

Asia Pacific is anticipated to show impressive growth over the forecast period; the growth is attributed to significant advances in semiconductor technology leading to the wide use of LTS electromagnets in making magnetic resonance imaging and nuclear magnetic resonance magnets. 

Global Superconducting Wire Market: Competitive Analysis 

Leading players are making substantial investments in R&D in order to launch advanced products made with cost-effective technologies. Several players are making technology integrations to expand their expertise in the manufacture of superconducting wires. Major players vying for a sustained share in the superconducting wires market include American Superconductor, Bruker Corporation, Fujikura Ltd., Superconductor Technologies Inc., Sumitomo Electric Industries, Ltd., Japan Superconductor Technology, Inc., Supercon Inc., and Furukawa Electric Co., Ltd.

This study provides a particularized anatomy according to the L.E.A.P mechanism

  • Latest trends and cardinal growth prospects
  • Existing and future insights in growth
  • Ascensions in technology
  • Pain points

The regional analysis offers market assays across:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The study, prepared through the L.E.A.P mechanism adds a dimension of infallibility and assures precise information on all the growth dynamics.

Latest Trends and Cardinal Growth Prospects

The study assists in burnishing the knowledge of the stakeholder in terms of the emerging trends. The study provides an expansive coverage on the latest developments and novel profit-yielding sources that augur well with the market. A dedicated and determined team of experts conduct an out-and-out research on diverse aspects to offer ultimate breakthroughs in the market.

Existing and Future Insights in Growth

The interfusion of ubiquitous primary and secondary research through modern tools invites perfection and accuracy in every aspect. Primary research is circumspectly conducted through exhaustive interactions and interviews of experts. These valuable opinions are then neatly inducted in the report to allow the stakeholder for reaping the benefits. A treasure of secondary data is extracted via famed paid sources, yearly estimates and statements, renowned journals, and government documents. These sources assist in creating a robust database comprising existing and subsequent growth dynamics.

Ascensions in Technology

Diverse technological advancements and cutting-edge innovations in the market have been covered in this study to assist the stakeholder in research and development activities. Recent upgrades have also been added in the study, thus helping the stakeholder to paint the strokes of growth on the canvas of the market.

Pain Points

The study presents a plethora of challenges and obstacles that can hinder the growth of the market to allow the stakeholder to prepare their strategies accordingly.

The world ushered in the new decade with the shadow of the COVID-19 pandemic. The outbreak has damaged the growth prospects of several businesses and has crippled the entire economy. The study is in tandem with the changing dynamics of the market due to the SARS-CoV-2 outbreak. The study focuses on the coronavirus pandemic and analyses every aspect that impacts the growth positively or negatively.

An aerial perspective of the regions covered in this study enables the stakeholder to design strategies accordingly. The 360-degree assessment of every aspect associated with growth offers information on a rainbow of growth opportunities available across the market.

The exhaustive study motivates the stakeholder to take the 'LEAP' of faith and achieve success!

This report is the key to questions such as:

What are the prominent factors that will help in reshaping the market growth?

Which trends have the potential to bring expansive growth for the market?

What are the necessary strategies to overcome the ill-effects of the COVID-19 pandemic?

Which regions will emerge as champion growth contributors for the market?

Which aspects will serve as game-changers for the market?

What are the latest innovations in the market?

Which factors will hinder the growth of the market?