Wide Range of Applications to Drive Superconducting Wires Market

San Francisco, California, January 09, 2018: Superconducting Wire Market – Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017 – 2025 is the latest report added in the vast research report repository of TMR Research. The given research report sheds light on the global market landscape of the superconducting wire. The research report is a result of compilation of extensive primary as well as secondary research methodologies. The research report makes use of inputs from industry experts, surveys, and personal interviews to provide an in-depth qualitative as well as quantitative evaluation of the global superconducting wire market. The report also consists of crucial information gathered from the prominent companies that are playing their trade in the global superconducting wire market. A separate evaluation of the macro as well as micro-economic directives, driving factors of the market, current trends, mandates, and regulation that govern the overall development of the global market for superconducting wire are also given out in the report.

Superconducting wired are derived from superconducting materials which, when cooled down a specific temperature or transition temperature, show no electrical resistance. The superconducting material used for manufacturing these wires are usually in the form of a filament and in theory permits a consistent flow of electric current across any kind of loop of a superconductor wire. Superconductor magnets have growing use in NMR and MRI machines, particle accelerators, and mass spectrometers as beam steering magnets. In recent developments, superconducting wires are being used in transformers, smart grids, electric motors, and power storing devices as well.

The second generation of high temperature superconducting wire wit considerably higher temperatures of transition are chiefly made of rare Earth elements such as neodymium, samarium, and yttrium. Allowing competitive multi-functionalities and cost-benefits, the overall demand for these materials is growing rapidly in the production of numerous electrical power and medical tools, which is also opening up door for wide range of lucrative opportunities for the development of the market in the coming years.

The global market for superconducting wires is chiefly driven by the growing demand for superconducting materials in making of MRI machines and high voltage transmission applications. The rising demand for high temperature superconducting materials in several areas such as electronics, industrial applications, defense, medical, and energy among others are also projected to augment the growth of the global market in the coming years of the forecast period of 2017 to 2025. Advances in the technology of computer chip designing are also projected drive the growth of the market in the coming years thanks to the demand for enhanced power performance and high critical current capacity.

However, there are some factors that might impede the growth of the market in the coming year of the forecast period. One of the key restraining factors for the growth of the market is the high cost of manufacturing of these superconducting wires. In addition to this, the lack of standard testing facilities are also projected to hamper the growth of the market in the near future. On the other hand, constant scaling efforts made by the manufacturers and extensive activities of research and development are projected to offer several opportunities of growth of the market in the coming years.

The global market for superconducting wires can be segmented into key geographical regions such as North America, Latin America, Europe, Middle East and Africa, and Asia Pacific.

Some of the key players in the global market for superconducting wires include names such as American Superconductor, Bruker Corporation, Fujikura Ltd., Superconductor Technologies Inc., Sumitomo Electric Industries, Ltd., Japan Superconductor Technology, Inc., Supercon Inc., and Furukawa Electric Co., Ltd.

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