Superconducting Wire Market: The latest development activities related to the products of the companies thus affect the growth rate of the Superconducting Wire Market

Superconducting Wire Market: By Type, Application, and Region

Market Synopsis:

Global Superconducting Wire market is valued at USD 1.02 Billion in 2021 and is projected to attain a value of USD 1.95 Billion by 2028 at a CAGR of 9.8% during the forecast period, 2022–2028. Superconducting Wire is one of the components that must be used in the installation process of superconducting magnets, which are utilized in medicine and industry. In addition to medical treatment such as MRI (Magnetic Resonance Imaging) devices, these products also include LSM (Large Superconducting Magnet) used for inspection equipment at nuclear power plants, various types of particle accelerators and high-energy synchrotrons, etc.

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Growing Focus on Improving Power Efficiency and Reduce Power to Loss to Drive Growth of the Superconducting Wire Market

Superconducting cables are wires made from composite materials which features superconductivity. They can be used for high-efficiency power transmission without energy loss and electric current crowding. As they produce less heat loss, the temperature of the wire is lower than that of a normal conductor. The higher cooling capability leads to an increase in maximum power rating and enables the use of thinner wires and consequently smaller conductors. In order to keep increasing demand for transmitting electricity with minimal losses, new ways of power transmission are being utilized around the globe.

Market Segmentation

The global Superconducting Wire market is segmented by type, application, and region. By type, the market is segmented into high, medium and low superconductor subsegments. The market is further segmented by application into power, medical, automobile, research, among others.

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Key Players:

Some of the key players in the market are Bruker Corporation (U.S.), American Superconductor Corporation (U.S.), Furukawa Electric Co., Ltd. (Japan), Superconductor Technologies Inc. (U.S.)., and Fujikura Ltd. (Japan).

About the Authors:

Vantage Market Research is a firm dedicated to delivering high-quality data and market research. The firm offers quantitative, high-quality B2B research on over 20,000 emerging markets. The firm provides in-depth reports on a variety of industries, including chemical materials and energy, food and drinks, healthcare, technology, and so on. Every year, the organisation adds more than 1,100 market research papers to its huge database, which employs over 125 analysts and consultants. The company’s customer includes 70% of the Fortune 500 corporations in the world.

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