Tension Control Market Overview, Analysis and Forecast to 2025
Superconducting wires are made up of superconducting materials which when cooled below its transition temperature, has zero electrical resistance. High temperature superconducting wire is one of the major types of superconducting wires, widely used in various applications.
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High temperature wires are further segmented into first generation HTS wires and second generation HTS wires. First generation HTS wires operates at higher temperatures and address the problem of costly cryogenics, heavy reliance on silver as a raw material makes the wire relatively expensive. On the other hand, second generation HTS wires offers additional benefits such as critical current capacity, increased in-field performance, significant cost advantages, increased efficiency, and reduced size, among others.
Based on application, the market is segmented as energy, medical, industry, and research. The energy segment is expected to grow at the fastest rate during the forecast period. Development of smart cities and stringent energy efficiency standards will likely to the drive the superconducting wire market.
The global Superconducting Wire Market is expected to grow at ~ 9.80% CAGR during the forecast period.
Market Research Analysis
Europe accounts for the largest market share whereas Asia-Pacific is the fastest growing region.
Region wise, Europe held the largest market share of the global superconducting wire market in 2017. It is estimated that Asia-Pacific region would be the fastest growing market during the forecast period, mainly due to the rising investment in automation and advancement in computer chip designing technology. Moreover, Superconducting wires can be used for various applications including high field magnet applications and nuclear magnetic resonance (NMR) & magnetic resonance imaging (MRI) magnets. Also, computer chip designing technology of which superconducting wire is an integral part is also witnessing some major technological advancement.
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GLOBAL SUPERCONDUCTING WIRE MARKET 2018-2023
Scope of the Report
This report provides an in-depth analysis of the global superconducting wire market, tracking three market segments across five geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, and share for North America, Asia-Pacific (APAC), Europe, and rest of the world. The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the...
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