DUBLIN--(BUSINESS WIRE)--The "Superconducting Wire - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
The global market for Superconducting Wire will reach US$1.4 billion by 2027 as energy demand pickup pace in the post COVID-19 period and efforts are gradually refocused on energy efficiency and sustainability.
An important part of energy sustainability is the lossless energy transport enabled by zero electrical resistance superconducting power lines. Although the COVID-19 pandemic will derail growth in the immediate term as the energy sector chokes amid lockdown led plummeting energy consumption rates and fears of a looming global recession, the long-term growth fundamentals nevertheless remains secure tied to a sustainable future.
The state of losslessness was always an elusive goal of research on electrical conductivity until the discovery of superconductivity. Defined as a material that conducts electricity in a manner that allows free flow of electricity from one atom to another without resistance and without generation of heat, superconductors are a breakthrough in the field of electrical conductivity. They represent perfect manifestation of macroscopic quantum phenomena. Promising features of superconductivity comprise flux quantization, perfect diamagnetism, perfect conductivity as well as the Josephson Effect.
The zero electrical resistance of superconductors makes the technology attractive for a wide range of applications. The zero electrical resistance implies that superconductors generate no heat, sound or any other emissions and are therefore environment friendly. The technology is therefore generating immense interest in potential application areas such as generators, motors, and power transmission lines. In the field of electricity transmission, superconductor cables flaunt the capacity to transport high current densities by over 7 times as compared to current copper transmission lines and technology. They enable the much awaited ability to increase power without higher voltages, and without generating hazardous electromagnetic interference.
With governments' worldwide shedding strong focus on smart city initiatives, superconducting power lines are forecast to receive their fair share of publicity given their ability to significantly reduce transmission losses, and provide cheap and adequate power to cities. Superconducting power lines eliminate the need to dig up streets for underground conduits and/or acquiring property for laying underground transmission lines. The ability to retrofit existing conduits with superconducting cables provides huge infrastructure cost savings for governments already burdened with financial deficits.
The technology also holds the potential to develop motors and generators that are lighter, smaller and energy efficient. Continuous technology development and the incredible pace of advancements have helped push superconductor performance limits including their ability to operate at extremely high higher temperatures and magnetic fields. In the electronics industry, the superior benefits of superconductors promise a possible replacement of the conventional copper wire with superconductor wire. The rise of high temperature semiconductors and electronics and the resulting design and reliability challenges will positively benefit the use of superconductors in the field of semiconductors. Already being commercialized are superconductor wires manufactured from Nb3Sn (niobium-tin) and NbTi (niobium-titanium). Doping-induced superconductivity in covalent semiconductors also represents a key trend benefiting growth prospects in this space.
Key Topics Covered:
I. INTRODUCTION, METHODOLOGY & REPORT SCOPE
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
- Impact of Covid-19 and a Looming Global Recession
- Superconductors: The Greatest Scientific Discovery of the 21st Century
- An Introduction to Superconducting Wire
- 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
- EXHIBIT: Percentage Breakdown of Value Sales for Developed and Developing Regions (2020 & 2027)
- Developing Regions: Hot Spots for Future Growth
- EXHIBIT: Global Superconducting Wire Market - Geographic Regions Ranked by % CAGR (Sales) for 2020-2027
- Competitive Scenario
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
- EXHIBIT: 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
- EXHIBIT: 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
- EXHIBIT: 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
Total Companies Profiled: 27
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