Dublin, Aug. 13, 2024 (GLOBE NEWSWIRE) -- The "Superconducting Wire - Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
The global market for Superconducting Wire is estimated at US$1.2 Billion in 2023 and is projected to reach US$1.7 Billion by 2030, growing at a CAGR of 5.5% from 2023 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions.
The growth in the superconducting wire market is driven by several factors that underscore the diverse applications and ongoing innovations in this field. Technological advancements that reduce the cost and improve the performance of superconducting wires are crucial for broadening their adoption in energy, transportation, and healthcare sectors.
The increasing demand for efficient energy solutions and the integration of renewable energy sources also significantly contribute to the market expansion. Additionally, economic incentives, such as government grants and subsidies for advanced research and infrastructure projects, play a pivotal role in fostering the development and deployment of superconducting technologies.
Consumer behavior that leans towards more sustainable and efficient products further bolsters the demand for innovations in superconducting applications. Lastly, the constant pursuit of enhanced medical technologies, particularly in imaging and diagnostics, propels the need for high-performance superconducting wires, ensuring sustained growth and innovation in the market.
Key Insights:
- Market Growth: Understand the significant growth trajectory of the High Temperature Superconducting Wire segment, which is expected to reach US$1.2 Billion by 2030 with a CAGR of a 5.8%. The Low & Medium Temperature Superconducting Wire segment is also set to grow at 4.9% CAGR over the analysis period.
- Regional Analysis: Gain insights into the U.S. market, estimated at $355.3 Million in 2023, and China, forecasted to grow at an impressive 7.2% CAGR to reach $242.4 Million by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.
Report Features:
- Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2023 to 2030.
- In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
- Company Profiles: Coverage of major players such as American Superconductor Corporation, Bruker Corporation, Fujikura Ltd., and more.
- Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 224 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value (USD) in 2023 | $1.2 Billion |
| Forecasted Market Value (USD) by 2030 | $1.7 Billion |
| Compound Annual Growth Rate | 5.5% |
| Regions Covered | Global |
MARKET OVERVIEW
- Influencer Market Insights
- World Market Trajectories
- Superconductors: The Greatest Scientific Discovery of the 21st Century
- An Introduction to Superconducting Wire
- Definition
- Types of Superconducting Wires
- Key Application Sectors of Superconducting Wire
- Superconducting Wires: Current Market Scenario and Outlook
- Recent Market Activity
- High Temperature Superconducting (HTS) Wire: Major Product Segment
- Low & Medium Temperature Superconductors Remain in Contention
- Market Analysis by Region: Developed Regions, the Prime Revenue Contributors
- Percentage Breakdown of Value Sales for Developed and Developing Regions (2020 & 2027)
- Developing Regions: Hot Spots for Future Growth
- Global Superconducting Wire Market - Geographic Regions Ranked by % CAGR (Sales) for 2020-2027
- Competitive Scenario
- Superconducting Wire - Global Key Competitors Percentage Market Share in 2024 (E)
- Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2024 (E)
MARKET TRENDS & DRIVERS
- Growth Opportunities in Medical, Electronics & Communication, Industrial Processing and Research Steer Market Growth
- The Aging and Heavily Burdened Electric Power Infrastructure Welcomes the Emergence of Superconductors and Superconducting Wires
- Spiraling Increase in Energy Demand Spurs Interest in Sustainable & Lossless Energy Transport Enabled by Zero Electrical Resistance Superconducting Power Lines: World Energy Consumption (in Quadrillion BTU) for the Years 2016, 2020, 2030 & 2040
- High Electricity Transmission & Distribution (T&D) Losses Brings Superconducting Power Lines Into the Spotlight for Resource Wastage Mitigation: World T&D Losses as a % of Total Energy Generated in Select Countries
- Superconducting Wires Make a Sizable Impact on the Electrical Motor Market
- Growing Demand for Superconductors for Computer Chip Designing Technology in Electronics Sector
- Growth in Demand for Superconducting Wires in Particle Accelerator and Mass Spectrometers Propel Growth
- Rising Demand for Superconductors for MRI System in Medical Sector Propels the Market
- Introduction of Ultra-Low Field Magnetic Resonance Imaging (ULF-MRI) to Spur Superconducting Magnet Demand
- Growing MRI Machine Availability in the Healthcare Sector Spurs Upstream Opportunities for Superconductors in the Production of MRI Machines: MRI Machines Per Million People in Select Countries
- Increase in Demand for Efficient Electric Motors for the Medical Industry Drive Growth
- Select Technology and Superconducting Material Innovations
- High Raw Material and Manufacturing Costs Pose Challenge to the Industry
FOCUS ON SELECT PLAYERS(Total 27 Featured)
- American Superconductor Corporation
- Bruker Corporation
- Fujikura Ltd.
- Furukawa Electric Co., Ltd.
- High Temperature Superconductors Inc.
- Japan Superconductor Technology, Inc.
- Metal Oxide Technologies LLC
- Sumitomo Electric Industries, Ltd.
- Supercon Inc.
- Superox
- Theva Dunnschichttechnik GmbH
For more information about this report visit https://www.researchandmarkets.com/r/mna6pp
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