Superconducting Wire Market-Size, Insights of Scope, Compound Annual Growth, Forecast to-2021(Trending Report)

Japan, Japan, Thu, 06 Jan 2022 03:53:56 / Comserve Inc. / -- The superconducting wire market is projected to reach USD 1,008.2 million by 2021, at a CAGR of 9.6% from 2016 to 2021. Superconductor technology is used in energy, medical, research, defense, electronics, transportation, and industrial applications.

With COVID-19 resulting in the economic fallout, numerous economies are working on game-changing improvements to protect their employees and clients. While focusing on the ongoing challenges, the leaders are embracing new plans in order to manage and stay afloat in this competitive environment. 

The superconducting wire market is projected to reach USD 1,008.2 million by 2021, at a CAGR of 9.6% from 2016 to 2021. Superconductor technology is used in energy, medical, research, defense, electronics, transportation, and industrial applications. The growth of the superconducting wire is driven by growing demand for superconductor based MRI systems and advancement in computer chip design technology. Synergies of high voltage transmission application and high efficiencies will increase the demand for superconductor cables and other auxiliary electrical equipment based on superconductor technology. Lack of acceptance with respect to reliability and cost of superconducting devices will likely to hinder the market growth.

"The LT & MT superconductor segment is expected to have the largest market share by 2021"
With regard to the type segment, LT & MT superconductors are expected to have the largest market share from 2016 to 2021. Growing demand in MRI systems and cheaper wire cost as compared to HT superconductors will keep the demand high for LT & MT Superconductors.

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"Europe: The largest market for Superconductor"
Europe is estimated to be the largest market in superconducting wire market from 2016 to 2021. The European region is most active in the field of superconductors with maximum countries investing in various applications to speed up the process of commercialization of superconductor equipment. Countries such as Germany, Spain, the Netherlands, the U.K., and France are expected to generate high demand for superconductor cables and generators.

Countries such as Germany, the U.K., and France have also witnessed a decent demand for superconducting equipment such as fault current limiter from 2013 to 2016 in several energy and industrial applications. Superconductors market is expected to grow at the highest CAGR in North America during the forecast period as high investments are being made in the region to commercialize superconductors and to exploit its advantages to the fullest. There are several research projects based on superconductors underway in universities such as University of Houston, and Massachusetts Institute of Technology in the U.S., which have made several breakthroughs in superconductor technologies for medical, energy, and industrial applications.

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Breakdown of Primaries:
In-depth interviews have been conducted with various key industry participants, subject-matter experts, C-level executives of key market players, and industry consultants, among other experts, to obtain and verify critical qualitative and quantitative information, as well as to assess future market prospects. The distribution of primary interviews is as follows:
By Company Type: Tier 1—35%, Tier 2—45%, Tier 3—20%
By Designation: C-Level—35%, Director-Level—25%, Others—40%
By Region: Asia-Pacific—35%, Europe—30%, and North America—35%

Research Coverage:
The report defines, describes, and forecasts the global superconducting wire market by type, application, and region. It also offers a detailed qualitative and quantitative analysis of the market. The report provides a comprehensive review of the major market drivers, restraints, opportunities, challenges, winning imperatives, and key issues. It also covers various important aspects of the market.

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TABLE OF CONTENTS

1 INTRODUCTION 13
1.1 OBJECTIVES OF THE STUDY 13
1.2 MARKET DEFINITION 13
1.3 MARKET SCOPE 14
1.3.1 MARKETS COVERED 14
1.3.2 COUNTRY-WISE SCOPE 14
1.3.3 YEARS CONSIDERED FOR THE STUDY 15
1.4 CURRENCY 15
1.5 LIMITATION 15
1.6 STAKEHOLDERS 16
2 RESEARCH METHODOLOGY 17
2.1 RESEARCH DATA 17
2.1.1 SECONDARY DATA 18
2.1.1.1 Key data from secondary sources 18
2.1.2 PRIMARY DATA 19
2.1.2.1 Key data from primary sources 19
2.1.2.2 Key industry insights 20
2.1.2.3 Breakdown of primaries 20
2.2 MARKET SIZE ESTIMATION 21
2.2.1 BOTTOM-UP APPROACH 21

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