Dublin, March 10, 2023 (GLOBE NEWSWIRE) -- The "Superconducting Wire Market by Type (Low-temperature Superconductor, Medium-temperature Superconductor, High-temperature Superconductor), End User (Energy, Medical, Transportation, Research), Sales Channel and Region - Global Forecast to 2028" report has been added to ResearchAndMarkets.com's offering.
The global superconducting wire market is estimated to grow from USD 1.1 Billion in 2023 to USD 1.7 Billion by 2028;
it is expected to record a CAGR of 9.2% during the forecast period. Growing demand for superconductor-based magnetic resonance imaging (MRI) systems, and the rising implementation of superconducting wire over conventional wires are the major driving factor for the superconducting wire market.
High-temperature superconductor: The second largest segment of the superconducting wire market, by type
Based on type, the superconducting wire market has been split between low-temperature superconductors, medium-temperature superconductors, and high-temperature superconductors. High-temperature superconductors were estimated to account for a second larger share of the superconducting wire market in 2023. Rising implementation of superconducting wire over conventional wires, making high-temperature superconductor ideal for such applications.
The medical segment is expected to be the largest segment of the superconducting wire market based on end-user
By end user, the superconducting wire market has been segmented into energy, medical, transportation, research, and others. The medical segment is expected to be the largest segment during the forecast period. Strong global shift toward using superconductor-wound magnets in MRI and NMR systems is expected to drive the demand for superconducting wire in the medical segment.
North America is expected to be the second largest market during the forecast period.
North America is expected to be the second largest market due to the Increasing investments in the offshore wind energy sector, development of maglev trains, and increasing focus of the governments on developing medical facilities in North American countries, specifically the US, is anticipated to boost the adoption of superconducting wire-based Magnetic Resonance Imaging (MRI) scanners are expected to drive the growth of the superconducting wire market in North America.
Market Dynamics
Drivers
- Growing Demand for Superconductor-based Magnetic Resonance Imaging (MRI) Systems
- Rising Implementation of Superconducting Wires Over Conventional Wires
- Expansion of Offshore Wind Farms Using Superconducting Technologies
Restraints
- High Operating Expenses at Low Voltage (Power Distribution)
- Lack of Technical Know-How Related to Superconducting Technology
Opportunities
- Increased Research and Development (R&D) in Medical and Transportation Sectors
- Increasing Research Investments for Superconducting Wires
Challenges
- High Manufacturing Costs of Superconductors
- Lack of Standard Testing Facilities for Superconductors
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 180 |
| Forecast Period | 2023 - 2028 |
| Estimated Market Value (USD) in 2023 | $1.1 Billion |
| Forecasted Market Value (USD) by 2028 | $1.7 Billion |
| Compound Annual Growth Rate | 9.2% |
| Regions Covered | Global |
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Superconducting Wire Market, by Type
6.1 Introduction
6.2 Low-Temperature Superconductor (Lts)
6.3 Medium-Temperature Superconductor (Mts)
6.4 High-Temperature Superconductor (Hts)
6.4.2 First-Generation High-Temperature Superconductor (Hts)
6.4.3 Second-Generation High-Temperature Superconductor (Hts)
7 Superconducting Wire Market, by End-user
7.1 Introduction
7.2 Energy
7.3 Medical
7.4 Transportation
7.5 Research
7.6 Others
8 Superconducting Wire Market, by Sales Channel
8.1 Introduction
8.2 Direct Sales Channel
8.3 Indirect Sales Channel
9 Superconducting Wire Market, by Region
10 Competitive Landscape
11 Company Profiles
12 Appendix
Companies Mentioned
- American Superconductor
- Ampeers LLC
- Asg Superconductors S.P.A.
- Bruker
- Firmetal Group
- Fujikura Ltd.
- Furukawa Electric Co. Ltd.
- Hyper Tech Research, Inc.
- Japan Superconductor Technology, Inc. (Jastec)
- Kiswire Advanced Technology Co. Ltd.
- Ls Cable & System Ltd.
- Luvata
- Metox Technologies, Inc.
- Nexans
- Sam Dong
- Sumitomo Electric Industries, Ltd.
- Supercon, Inc.
- Superox
- Theva Dunnschichttechnik GmbH
- Western Superconducting Technologies Co. Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/1oo7ls
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