Global Superconducting Wire Market to Reach $1.7 Billion by 2030: Rising Demand for Superconductors for MRI System in Medical Sector Propels the Market


Dublin, March 22, 2023 (GLOBE NEWSWIRE) -- The "Superconducting Wire: Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.

The global market for Superconducting Wires estimated at US$1.1 Billion in the year 2022, is projected to reach a revised size of US$1.7 Billion by 2030, growing at a CAGR of 5.3% over the analysis period 2022-2030.

High Temperature, one of the segments analyzed in the report, is projected to record 5.6% CAGR and reach US$1.2 Billion by the end of the analysis period.

Taking into account the ongoing post pandemic recovery, growth in the Low & Medium Temperature segment is readjusted to a revised 4.7% CAGR for the next 8-year period.

The U.S. Market is Estimated at $341.3 Million, While China is Forecast to Grow at 7% CAGR

The Superconducting Wires market in the U.S. is estimated at US$341.3 Million in the year 2022. China, the world's second largest economy, is forecast to reach a projected market size of US$242.4 Million by the year 2030 trailing a CAGR of 7% over the analysis period 2022 to 2030.

Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 4% and 5.2% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 4.7% CAGR.

Select Competitors (Total 27 Featured) -

  • American Superconductor Corporation
  • Bruker Corporation
  • Fujikura Ltd.
  • Furukawa Electric Co., Ltd.
  • Japan Superconductor Technology, Inc.
  • MetOx Technologies
  • Sumitomo Electric Industries, Ltd.
  • Supercon Inc.
  • Superconductor Technologies Inc.
  • Superox;Theva Dunnschichttechnik GmbH

What`s New for 2023?

  • Special coverage on Russia-Ukraine war; global inflation; easing of zero-Covid policy in China and its `bumpy` reopening; supply chain disruptions, global trade tensions; and risk of recession.
  • Global competitiveness and key competitor percentage market shares
  • Market presence across multiple geographies - Strong/Active/Niche/Trivial
  • Online interactive peer-to-peer collaborative bespoke updates
  • Access to digital archives and Research Platform
  • Complimentary updates for one year

Key Attributes:

Report AttributeDetails
No. of Pages224
Forecast Period2022 - 2030
Estimated Market Value (USD) in 2022$1.1 Billion
Forecasted Market Value (USD) by 2030$1.7 Billion
Compound Annual Growth Rate5.6%
Regions CoveredGlobal

Key Topics Covered:

I. METHODOLOGY

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW

  • Influencer Market Insights
  • World Market Trajectories
  • Impact of Covid-19 and a Looming Global Recession
  • 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 2022 (E)
  • Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)

2. FOCUS ON SELECT PLAYERS

3. 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

4. GLOBAL MARKET PERSPECTIVE

III. MARKET ANALYSIS

IV. COMPETITION

For more information about this report visit https://www.researchandmarkets.com/r/t24yz

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Attachment

 
Global Market for Superconducting Wires

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