The global superconducting wire market is anticipated to grow at a CAGR of 9.26% from US$1,797.046 million in 2025 to US$2,798.622 million by 2030.

NOIDA, UTTAR PRADESH, INDIA, December 5, 2024 /EINPresswire.com/ -- As per a new study published by Knowledge Sourcing Intelligence, the global superconducting wire market is projected to grow at a CAGR of 9.26% between 2025 and 2030 to reach an amount of US$2,798.622 million in 2030.

Superconducting wires have no electrical resistance below a given critical temperature like typical superconductive materials. Thus, they can carry higher currents than normal copper or aluminum wires. Superconducting wires, used in electromagnets, produce high magnetic fields at such current levels, which are free of resistive losses. They exhibit the Meissner effect as well, the expulsion of magnetic fields from the inside, making them useful in magnetic levitation applications. Generally, conventional superconductors like niobium-titanium are those chosen to be used for these wires.

Growth segments of the global superconducting wire market are driven by increasing demand for energy-efficient technologies, development of high-temperature superconductors, rising popularity of medical imaging equipment, development of renewable energy sources, and increased research and development investment. Superconducting wires can save energy losses against copper or aluminum wires and can be used in power transmission, electric motors, and generators. In the coming years, the market is likely to see substantial growth as its applications are endless-from energy to healthcare and transportation to scientific research.

With the emergence of the global superconducting wire market, many market players are launching products and technologies to attract customers. For instance, in December 2023, MetOx, the global manufacturer of power delivery technologies, accelerated the scale-up of its Xeus™ high-temperature superconducting wire (HTS) at the USA production site via strategic capital infusion.

Access sample report or view details: https://www.knowledge-sourcing.com/report/global-superconducting-wire-market

By type, the global superconducting wire market is categorized into three types, high-temperature superconducting wires are expected to dominate the superconducting wire market because of advantages such as higher critical temperatures, higher current densities, and greater versatility for applications, in power transmission, medical imaging, and particle accelerators. It reduces the use of expensive cryogenic cooling systems and produces smaller and more efficient devices.

The global superconducting wire market by application is segmented into automotive, electronics, energy, scientific and medical equipment, and others. The market for global superconducting wires will be led by the energy sector owing to an increased demand for sustainable and efficient sources of energy. Superconducting wires are valuable for the three segments of power transmission which include energy storage and renewable integration. It can reduce the amount of energy loss while transmitting energy across longer distances and require fewer power plants while balancing supply and demand on grids. Besides, the superconducting technologies can effectively integrate wind energy and solar-based energy sources into the grid.

Based on geography, the North America region of the global superconducting wire market is growing significantly, given its vast adoption and early development in superconducting technologies such as in medical imaging and research. Most of the superconducting technology developments have been heavily sponsored by the U.S. government through funding research and innovation initiatives. Research in North America is the most robust in the field of superconductivity, and many universities and research institutions are involved in front-line research, thus shortening the distance required for superconducting wire technology development. North America is increasingly looking to future innovations and technologies in superconducting power transmission and grid modernization solutions due to the growing need for energy-efficient and sustainable solutions.

As a part of the report, the major players operating in the global superconducting wire market have been covered as American Superconductor, Fujikura Ltd., Supercon, Inc., Furukawa Electric Co., Ltd., SuperOx, THEVA Dünnschichttechnik GmbH, Bruker, Sumitomo Electric Industries, Ltd., Nexans, Fuji Bridex.

The market analytics report segments the global superconducting wire market as follows:

• By Type

o Low-temperature superconducting wires
o Medium-temperature superconducting wires
o High-temperature superconducting wires

• By Application

o Electronics
o Energy
o Scientific and Medical equipment
o Automotive
o Others

• By Geography

o North America

• USA
• Canada
• Mexico

o South America

• Brazil
• Argentina
• Others

o Europe

• United Kingdom
• Germany
• France
• Italy
• Spain
• Others

o Middle East and Africa

• Saudi Arabia
• Israel
• Others

o Asia Pacific

• China
• India
• Japan
• South Korea
• Thailand
• Indonesia
• Others

Companies Profiled:

• American Superconductor
• Fujikura Ltd.
• Supercon, Inc.
• Furukawa Electric Co., Ltd.
• SuperOx
• THEVA Dünnschichttechnik GmbH
• Bruker
• Sumitomo Electric Industries, Ltd.
• Nexans
• Fuji Bridex

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• Global Soft Magnetic Materials Market: https://www.knowledge-sourcing.com/report/global-soft-magnetic-materials-market

Ankit Mishra
Knowledge Sourcing Intelligence
+1 850-250-1698
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