Superconducting Wire Market Worth 1,008.2 Million USD by 2021

The report "Superconducting Wire Market by Type (High Temperature Superconductors (First Generation and Second Generation), Low and Medium Temperature Superconductors), Application (Energy, Medical, Industry, Research), and Region - Global Forecast to 2021" published by MarketsandMarkets, the market is expected to grow from an estimated USD 638.1 Million in 2016 to USD 1,008.2 Million by 2021, registering a CAGR of 9.6% from 2016 to 2021.

The global market is set to witness significant growth, due to the focus on energy application, high energy physics experiments in Europe and North America, and the growing demand for cost effective and energy efficient MRI systems. The energy segment is expected to hold the largest share of the Superconducting Wire Market, by application, during the forecast period

The research segment led the Superconducting Wire Market in 2015, and is projected to dominate the market during the forecast period. The energy application segment is estimated to have a lesser market share than research application segment in 2016 but projected to surpass the research application segment during the forecast period. This segment is primarily driven by the use of superconductors in a wide range of equipment such as transformers, cables, generators, energy storage, and grid protection, and is expected to create new revenue pockets for the Superconducting Wire Market during the forecast period.

HT Superconductor to be the fastest growing segment in the Superconducting Wire Market

With regard to the type segment, HT superconductors are expected to constitute the fastest growing market from 2016 to 2021. This is because of cheaper cryogenic systems required for HT superconductor material which makes the superconductor devices cost effective. These are used in manufacturing of energy efficient superconducting cables and fault current limiters.

Europe: The leading market for superconducting wire

In this report, the Superconducting Wire Market has been analyzed with respect to three regions, namely, North America, Europe, and Asia-Pacific. Europe is expected to dominate the global Superconducting Wire Market with maximum European countries investing in various applications to speed up the process of commercialization of superconductor equipment.

To enable an in-depth understanding of the competitive landscape, the report includes profiles of some of the top players in the Superconducting Wire Market. These players include American Superconductor Corporation (U.S.), Bruker Corporation (U.S.), Furukawa Electric Co., Ltd. (Japan), Fujikura Ltd. (Japan), and Superconductor Technologies Inc. (U.S.). Leading players are trying to penetrate the markets in developed economies, and are adopting various strategies to increase their market share.

Browse 68 market data Tables and 40 Figures spread through 125 Pages and in-depth TOC on "Superconducting Wire Market"

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