Global High Temperature Superconducting Wires Market 2016-2020

This market research study identifies Superconductor Technologies, AMSC, SuperPower, and SUNAM as the leading vendors in the global high temperature superconducting wires market. A competitive analysis of this market is also presented by application (healthcare, R&D, electronics, and others) and by geography (APAC, Europe, North America, and ROW).

Overview of the global high temperature superconducting (HTS) wires market

According to the market research analysts at Technavio, the global HTS wires market is anticipated to grow steadily and will post a moderate CAGR of close to 5% over the forecast period. Compact and high-capacity underground HTS cables are indispensable for increasing the capacity and reliability of power grids. HTS power cables conduct nearly 5-10 times more power than conventional copper wires of the comparable cross section. There has been substantial development toward the commercialization of HTS power cables. The world’s first high temperature superconducting power transmission cable system in a commercial power grid was set up in the US in 2008. This HTS power transmission system is capable of transmitting 574 megawatts of electricity, which is enough to power more than 200,000 homes. Similar projects are also expected to come up across many countries including China, Japan, South Korea, and Germany, which will boost this market’s growth prospects in the coming years.

HTS power cables provide exclusive benefits for wireless applications due to ultra-low dissipation and distortion, along with, quantum accuracy. Superconductor radio-frequency (RF) filters with higher interference termination have been deployed at cellular base stations, aiding wider range and fewer call drops. Moreover, fourth generation all-digital receivers (ADR) for the US defense offer vast improvements in performance, efficiency, and cost for satellite communications (SATCOM), electronic warfare (EW) and signal intelligence (SIGINT) systems. This will result in the increased adoption of HTS filters and ADRs, which will, in turn, fuel the growth of this market over the next four years.

mCompetitive landscape and key vendors

The global HTS wires market is highly fragmented owing to the presence of several well-established manufacturers and a significant number of small and medium-sized enterprises. As global players expand their footprint, regional vendors are finding it difficult to compete, especially on aspects such as quality, safety, and price. The competitive environment in this market should intensify with the increase in utilization of HTS wires, arising from increasing energy requirement, healthcare diagnostic equipment, and electrification of transportation.

Key vendors in this market are -

• Superconductor Technologies
• AMSC
• SuperPower
• SUNAM

Other prominent vendors in the market are Bruker, Fujikura, Metal Oxide Technologies, Nexans, Sumitomo Electric Industries, and THEVA.

Segmentation by application and HTS conducting wires market

• Healthcare
• R&D
• Electronics

During 2015, the healthcare segment dominated the market and accounted for more than 76% of the market shares in terms of revenue. The growth of this segment is attributed to the increasing number of MRI installations across the globe. With several technological advancements in superconducting materials and superconducting magnets, the MRI systems will continue to advance in resolution and speed. HTS wires have boosted the development of powerful MRI machines and increased the field strength of this equipment from the conventional 1.5T to 3T. Apart from MRI, other healthcare equipment integrating HTS wires are ultra-low field magnetic resonance imaging (ULF-MRI), MEG, MSI, MCG, and nuclear magnetic resonance imaging (NMRI). The increasing adoption of magnetic field-based diagnostic equipment will contribute to this segment’s growth during the predicted period.

Geographical segmentation and analysis of the HTS wires market

• APAC
• Europe
• North America
• ROW

In terms of geography, the APAC region dominated the global HTS wires market and is expected to hold close to 45% of the total market shares during the forecast period. Several countries in the region such as India, China, Japan, and Malaysia are increasingly adopting HTS wires for improving the efficiency of their electricity generation and output to sustain a growing manufacturing sector in APAC. This is likely to aid in the growth of this market until the end of 2020.

Key questions answered in the report include

• What will the market size and the growth rate be in 2020?
• What are the key factors driving the global HTS wires market?
• What are the key market trends impacting the growth of the global HTS wires market?
• What are the challenges to market growth?
• Who are the key vendors in the global HTS wires market?
• What are the market opportunities and threats faced by the vendors in the global HTS wires market?
• Trending factors influencing the market shares of APAC, Europe, North America, and ROW. 
• What are the key outcomes of the five forces analysis of the global HTS wires market?

Technavio also offers customization on reports based on specific client requirement.

Related reports:

• Global Superconductor Market 2015-2019
• Global Power Cables Market 2016-2020
• Global High-voltage Power Cable Market 2015-2019