High Temperature Superconducting Wires Market to grow by USD 258.64 Million from 2022 to 2027: Growing demand for power electronics is notably driving the market growth - Technavio

NEW YORK, June 1, 2023 /PRNewswire/ -- The high temperature superconducting wires market size is estimated to increase by USD 258.64 million from 2022 to 2027, with a CAGR of 9.33%, according to the recent market study by Technavio. This report also offers a 5-year historical (2017-2021) data projection of market size, segmentation, and region. This high temperature superconducting wires market report extensively covers market segmentation by type (second generation HT superconductors wires, and first generation HT superconductors wires), application (healthcare, electronics, R&D, and others), and geography (APAC, North America, Europe, South America, and Middle East and Africa).

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Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak. The Bargaining Power of Buyers & Suppliers and the Threat of New Entrants, Rivalry, and Substitutes have also been analyzed and rated between LOW-HIGH to provide a holistic view of market favorability.

Find Technavio's Exclusive Analysis of Price Sensitivity, Adoption Lifecycle, Customer Purchase Basket, Adoption Rates, and Purchase Criteria

• One of the core components of the customer landscape is price sensitivity, an analysis of which will help companies refine marketing strategies to gain a competitive advantage. 
• Another key aspect is price sensitivity drivers (purchases are undifferentiated, the purchase is a key cost to buyers, and quality is not important), which range between LOW and HIGH.
• Furthermore, market adoption rates for all regions have been covered.

The High Temperature Superconducting Wires Market report also offers information on the criticality of inputs, R&D, CAPEX, technology, and products of 15 vendors listed Below -

American Superconductor Corp., Bruker Corp, Fujikura Ltd., Furukawa Electric Co. Ltd., High Temperature Superconductors Inc., Hitachi Ltd., Innova Superconductor Technology Co. Ltd., Japan Superconductor Technology Inc., MetOx Technologies Inc., Southwire Co. LLC, Sumitomo Electric Industries Ltd., SuNam Co. Ltd., Supercon Inc., and THEVA Dunnschichttechnik GmbH

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Chart & Data Table on 5-Year Historic (2017-2021) Market Size, Comparative Analysis of Segments, and Y-O-Y Growth of High temperature superconducting wires market

• The market is segmented by Type (Second generation HT superconductors wires and First generation HT superconductors wires), Application (Healthcare, Electronics, R&D, and Others), and Geography (APAC, North America, Europe, South America, and Middle East and Africa)
• Second generation high temperature superconducting wires make it possible to deliver electricity with high power densities and efficiency, which encourages the growth of clean energy generation, transmission, storage, and conversion. The power transmission industry is more interested in the second generation high temperature superconducting wires, thanks to advancements in manufacturing technology. These high temperature superconducting wires are renowned for their many properties, including extremely low resistance and enormous power carrying capacity. They have the real potential to revolutionize the entire power network and usher in an era where the power industry will be exponentially more powerful and practically "loss-free.". Such factors will positively impact the growth of the second generation high temperature superconducting wires segment of the global high temperature superconducting wires market during the forecast period.

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High temperature superconducting wires market- Market Dynamics

Driver

Increased adoption of high temperature superconducting wires in medical applications: The market for high temperature superconducting wires is expanding due to the rising demand for medical supplies and equipment. High temperature superconducting wires that are currently on the market are used to create high-field superconducting magnets. In order to improve the overall performance of their systems, MRI device manufacturers are concentrating on developing superconducting technologies. The manufacturers want to make smaller, more compact devices while still generating stronger magnetic fields. The rapid development of cutting-edge substitutes is a result of the rise in demand for high-performance, reliable, and affordable superconducting wires. In addition to MRI, high temperature superconducting wires are used in ULF-MRI, MEG, MSI, and NMRI medical devices. The global market for high temperature superconducting wires will expand during the forecast period due to the rising use of these wires in medical applications.

Trend

Growing adoption of renewable energy: The use of renewable energy sources for power generation has increased as more developing nations adopt clean energy policies and offer subsidies for its production. Countries that want to produce energy without using fossil fuels are embracing the use of renewable energy sources for power generation. Although in the early years of adoption, these renewable energy technologies were seen as a high CAPEX market and received a lot of criticism, the demand for harnessing renewable forms of energy like solar, wind, and hydropower has grown over time. When compared to conventional fuels, adopting renewable energy has advantages in terms of environmental sustainability. According to the EIA, by 2050, renewable energy will account for 18% of all energy consumed globally. In order to support international initiatives for the global reduction of greenhouse gas (GHG) emissions, renewable energy sources have become more significant as clean energy fuel sources.
High temperature superconducting wires exhibit high specific output power, greater compactness, and increased resource. Designing a superconducting wind turbine generator involves two main ideas, i.e.,  machines that are both fully and partially superconducting. When a machine is partially or fully superconducting, the field excitation winding is made of superconducting wires, and the rotor and stator windings are both superconducting. Because of this, the market for high temperature superconducting wires in renewable energy sources is growing. Consequently, during the anticipated period, this is anticipated to fuel the growth of the global high temperature superconducting wires market.

Challenge

High cost of high temperature superconducting wires: The vendors have been forced to broaden their product lines as a result of the successful commercialization of high temperature superconducting wires and their use in numerous applications. The high price of high temperature superconducting wires, however, has made it difficult for them to be widely used. Vendors are currently primarily concentrating on creating superconductors that are economical solutions for applications like the production of renewable energy. Theoretical and unproven claims about the reliability of high temperature superconducting wires in refrigeration systems are deterring many vendors from making investments in the global high temperature superconducting wires. The cost of a high temperature superconducting wire is currently between USD 300 and USD 400 per kA-m, which is roughly six to eight times the cost of copper wires. This reduces their rate of adoption. These elements will make the global high temperature superconducting wires market more difficult to expand during the forecast period.

Chart & Data Table on Historical Market Size (2017-2021, Historic Industry Size & Analysis of 15 Vendors and 7 Countries

High temperature superconducting wires market- Market Segmentation
The market is segmented by region into APAC, North America, Europe, South America, and Middle East and Africa. An analysis of key leading countries has been included.

• The major factors driving the market for high temperature superconducting wires in APAC are rising investments in the creation and expansion of renewable energy sources. APAC governments are spending a lot of money creating high-voltage power grids.
• The growing emphasis on renewable energy in the area is a significant factor boosting the market for high temperature superconducting wires in APAC. Many high temperature superconducting wires will be needed for the development of renewable energy sources.
• During the forecast period, a rise in the demand for new technologies from automotive OEMs will also fuel the expansion of the regional high temperature superconducting wires market.

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What are the key data covered in this High Temperature Superconducting Wires Market report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the High Temperature Superconducting Wires Market between 2023 and 2027
• Precise estimation of the size of the High Temperature Superconducting Wires Market size and its contribution to the market in focus on the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the High Temperature Superconducting Wires Market industry across APAC, North America, Europe, South America, and Middle East and Africa
• A thorough analysis of the market's competitive landscape and detailed information about vendors
• Comprehensive analysis of factors that will challenge the growth of High Temperature Superconducting Wires Market vendors

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Table of contents

1 Executive Summary

• 1.1 Market overview 
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Global Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by Type
• Exhibit 06: Executive Summary – Chart on Market Segmentation by Application
• Exhibit 07: Executive Summary – Chart on Incremental Growth
• Exhibit 08: Executive Summary – Data Table on Incremental Growth
• Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem 
• Exhibit 10: Parent market
• Exhibit 11: Market Characteristics

3 Market Sizing

• 3.1 Market definition 
• Exhibit 12: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 13: Market segments

• 3.3 Market size 2022 

• 3.4 Market outlook: Forecast for 2022-2027
• Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ million)
• Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ million)
• Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
• Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

• 4.1 Global high temperature superconducting wires market 2017 - 2021 
• Exhibit 18: Historic Market Size – Data Table on Global high temperature superconducting wires market 2017 - 2021 ($ million)

• 4.2 Type Segment Analysis 2017 - 2021 
• Exhibit 19: Historic Market Size – Type Segment 2017 - 2021 ($ million)

• 4.3 Application Segment Analysis 2017 - 2021
• Exhibit 20: Historic Market Size – Application Segment 2017 - 2021 ($ million)

• 4.4 Geography Segment Analysis 2017 - 2021
• Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 ($ million)

• 4.5 Country Segment Analysis 2017 - 2021
• Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 ($ million)

5 Five Forces Analysis

• 5.1 Five forces summary 
• Exhibit 23: Five forces analysis - Comparison between 2022 and 2027

• 5.2 Bargaining power of buyers 
• Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

• 5.3 Bargaining power of suppliers 
• Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

• 5.4 Threat of new entrants 
• Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027

• 5.5 Threat of substitutes 
• Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027

• 5.6 Threat of rivalry 
• Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027

• 5.7 Market condition 
• Exhibit 29: Chart on Market condition - Five forces 2022 and 2027

6 Market Segmentation by Type

• 6.1 Market segments 
• Exhibit 30: Chart on Type - Market share 2022-2027 (%)
• Exhibit 31: Data Table on Type - Market share 2022-2027 (%)

• 6.2 Comparison by Type 
• Exhibit 32: Chart on Comparison by Type
• Exhibit 33: Data Table on Comparison by Type

• 6.3 Second generation HT superconductors wires - Market size and forecast 2022-2027 
• Exhibit 34: Chart on Second generation HT superconductors wires - Market size and forecast 2022-2027 ($ million)
• Exhibit 35: Data Table on Second generation HT superconductors wires - Market size and forecast 2022-2027 ($ million)
• Exhibit 36: Chart on Second generation HT superconductors wires - Year-over-year growth 2022-2027 (%)
• Exhibit 37: Data Table on Second generation HT superconductors wires - Year-over-year growth 2022-2027 (%)

• 6.4 First generation HT superconductors wires - Market size and forecast 2022-2027 
• Exhibit 38: Chart on First generation HT superconductors wires - Market size and forecast 2022-2027 ($ million)
• Exhibit 39: Data Table on First generation HT superconductors wires - Market size and forecast 2022-2027 ($ million)
• Exhibit 40: Chart on First generation HT superconductors wires - Year-over-year growth 2022-2027 (%)
• Exhibit 41: Data Table on First generation HT superconductors wires - Year-over-year growth 2022-2027 (%)

• 6.5 Market opportunity by Type 
• Exhibit 42: Market opportunity by Type ($ million)
• Exhibit 43: Data Table on Market opportunity by Type ($ million)

7 Market Segmentation by Application

• 7.1 Market segments 
• Exhibit 44: Chart on Application - Market share 2022-2027 (%)
• Exhibit 45: Data Table on Application - Market share 2022-2027 (%)

• 7.2 Comparison by Application 
• Exhibit 46: Chart on Comparison by Application
• Exhibit 47: Data Table on Comparison by Application

• 7.3 Healthcare - Market size and forecast 2022-2027
• Exhibit 48: Chart on Healthcare - Market size and forecast 2022-2027 ($ million)
• Exhibit 49: Data Table on Healthcare - Market size and forecast 2022-2027 ($ million)
• Exhibit 50: Chart on Healthcare - Year-over-year growth 2022-2027 (%)
• Exhibit 51: Data Table on Healthcare - Year-over-year growth 2022-2027 (%)

• 7.4 Electronics - Market size and forecast 2022-2027
• Exhibit 52: Chart on Electronics - Market size and forecast 2022-2027 ($ million)
• Exhibit 53: Data Table on Electronics - Market size and forecast 2022-2027 ($ million)
• Exhibit 54: Chart on Electronics - Year-over-year growth 2022-2027 (%)
• Exhibit 55: Data Table on Electronics - Year-over-year growth 2022-2027 (%)

• 7.5 R and D - Market size and forecast 2022-2027
• Exhibit 56: Chart on R and D - Market size and forecast 2022-2027 ($ million)
• Exhibit 57: Data Table on R and D - Market size and forecast 2022-2027 ($ million)
• Exhibit 58: Chart on R and D - Year-over-year growth 2022-2027 (%)
• Exhibit 59: Data Table on R and D - Year-over-year growth 2022-2027 (%)

• 7.6 Others - Market size and forecast 2022-2027
• Exhibit 60: Chart on Others - Market size and forecast 2022-2027 ($ million)
• Exhibit 61: Data Table on Others - Market size and forecast 2022-2027 ($ million)
• Exhibit 62: Chart on Others - Year-over-year growth 2022-2027 (%)
• Exhibit 63: Data Table on Others - Year-over-year growth 2022-2027 (%)

• 7.7 Market opportunity by Application 
• Exhibit 64: Market opportunity by Application ($ million)
• Exhibit 65: Data Table on Market opportunity by Application ($ million)

8 Customer Landscape

• 8.1 Customer landscape overview 
• Exhibit 66: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

• 9.1 Geographic segmentation 
• Exhibit 67: Chart on Market share by geography 2022-2027 (%)
• Exhibit 68: Data Table on Market share by geography 2022-2027 (%)

• 9.2 Geographic comparison 
• Exhibit 69: Chart on Geographic comparison
• Exhibit 70: Data Table on Geographic comparison

• 9.3 APAC - Market size and forecast 2022-2027
• Exhibit 71: Chart on APAC - Market size and forecast 2022-2027 ($ million)
• Exhibit 72: Data Table on APAC - Market size and forecast 2022-2027 ($ million)
• Exhibit 73: Chart on APAC - Year-over-year growth 2022-2027 (%)
• Exhibit 74: Data Table on APAC - Year-over-year growth 2022-2027 (%)

• 9.4 North America - Market size and forecast 2022-2027
• Exhibit 75: Chart on North America - Market size and forecast 2022-2027 ($ million)
• Exhibit 76: Data Table on North America - Market size and forecast 2022-2027 ($ million)
• Exhibit 77: Chart on North America - Year-over-year growth 2022-2027 (%)
• Exhibit 78: Data Table on North America - Year-over-year growth 2022-2027 (%)

• 9.5 Europe - Market size and forecast 2022-2027
• Exhibit 79: Chart on Europe - Market size and forecast 2022-2027 ($ million)
• Exhibit 80: Data Table on Europe - Market size and forecast 2022-2027 ($ million)
• Exhibit 81: Chart on Europe - Year-over-year growth 2022-2027 (%)
• Exhibit 82: Data Table on Europe - Year-over-year growth 2022-2027 (%)

• 9.6 South America - Market size and forecast 2022-2027
• Exhibit 83: Chart on South America - Market size and forecast 2022-2027 ($ million)
• Exhibit 84: Data Table on South America - Market size and forecast 2022-2027 ($ million)
• Exhibit 85: Chart on South America - Year-over-year growth 2022-2027 (%)
• Exhibit 86: Data Table on South America - Year-over-year growth 2022-2027 (%)

• 9.7 Middle East and Africa - Market size and forecast 2022-2027 
• Exhibit 87: Chart on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
• Exhibit 88: Data Table on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
• Exhibit 89: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
• Exhibit 90: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)

• 9.8 US - Market size and forecast 2022-2027
• Exhibit 91: Chart on US - Market size and forecast 2022-2027 ($ million)
• Exhibit 92: Data Table on US - Market size and forecast 2022-2027 ($ million)
• Exhibit 93: Chart on US - Year-over-year growth 2022-2027 (%)
• Exhibit 94: Data Table on US - Year-over-year growth 2022-2027 (%)

• 9.9 China - Market size and forecast 2022-2027
• Exhibit 95: Chart on China - Market size and forecast 2022-2027 ($ million)
• Exhibit 96: Data Table on China - Market size and forecast 2022-2027 ($ million)
• Exhibit 97: Chart on China - Year-over-year growth 2022-2027 (%)
• Exhibit 98: Data Table on China - Year-over-year growth 2022-2027 (%)

• 9.10 Japan - Market size and forecast 2022-2027
• Exhibit 99: Chart on Japan - Market size and forecast 2022-2027 ($ million)
• Exhibit 100: Data Table on Japan - Market size and forecast 2022-2027 ($ million)
• Exhibit 101: Chart on Japan - Year-over-year growth 2022-2027 (%)
• Exhibit 102: Data Table on Japan - Year-over-year growth 2022-2027 (%)

• 9.11 Germany - Market size and forecast 2022-2027
• Exhibit 103: Chart on Germany - Market size and forecast 2022-2027 ($ million)
• Exhibit 104: Data Table on Germany - Market size and forecast 2022-2027 ($ million)
• Exhibit 105: Chart on Germany - Year-over-year growth 2022-2027 (%)
• Exhibit 106: Data Table on Germany - Year-over-year growth 2022-2027 (%)

• 9.12 South Korea - Market size and forecast 2022-2027
• Exhibit 107: Chart on South Korea - Market size and forecast 2022-2027 ($ million)
• Exhibit 108: Data Table on South Korea - Market size and forecast 2022-2027 ($ million)
• Exhibit 109: Chart on South Korea - Year-over-year growth 2022-2027 (%)
• Exhibit 110: Data Table on South Korea - Year-over-year growth 2022-2027 (%)

• 9.13 Market opportunity by geography 
• Exhibit 111: Market opportunity by geography ($ million)
• Exhibit 112: Data Tables on Market opportunity by geography ($ million)

10 Drivers, Challenges, and Trends

• 10.1 Market drivers 

• 10.2 Market challenges 

• 10.3 Impact of drivers and challenges 
• Exhibit 113: Impact of drivers and challenges in 2022 and 2027

• 10.4 Market trends 

11 Vendor Landscape

• 11.1 Overview 

• 11.2 Vendor landscape 
• Exhibit 114: Overview on Criticality of inputs and Factors of differentiation

• 11.3 Landscape disruption 
• Exhibit 115: Overview on factors of disruption

• 11.4 Industry risks 
• Exhibit 116: Impact of key risks on business

12 Vendor Analysis

• 12.1 Vendors covered 
• Exhibit 117: Vendors covered

• 12.2 Market positioning of vendors 
• Exhibit 118: Matrix on vendor position and classification

• 12.3 American Superconductor Corp. 
• Exhibit 119: American Superconductor Corp. - Overview
• Exhibit 120: American Superconductor Corp. - Business segments
• Exhibit 121: American Superconductor Corp. - Key offerings
• Exhibit 122: American Superconductor Corp. - Segment focus

• 12.4 Bruker Corp. 
• Exhibit 123: Bruker Corp. - Overview
• Exhibit 124: Bruker Corp. - Business segments
• Exhibit 125: Bruker Corp. - Key news
• Exhibit 126: Bruker Corp. - Key offerings
• Exhibit 127: Bruker Corp. - Segment focus

• 12.5 Fujikura Ltd. 
• Exhibit 128: Fujikura Ltd. - Overview
• Exhibit 129: Fujikura Ltd. - Business segments
• Exhibit 130: Fujikura Ltd. - Key offerings
• Exhibit 131: Fujikura Ltd. - Segment focus

• 12.6 Furukawa Electric Co. Ltd. 
• Exhibit 132: Furukawa Electric Co. Ltd. - Overview
• Exhibit 133: Furukawa Electric Co. Ltd. - Business segments
• Exhibit 134: Furukawa Electric Co. Ltd. - Key news
• Exhibit 135: Furukawa Electric Co. Ltd. - Key offerings
• Exhibit 136: Furukawa Electric Co. Ltd. - Segment focus

• 12.7 High Temperature Superconductors Inc.
• Exhibit 137: High Temperature Superconductors Inc. - Overview
• Exhibit 138: High Temperature Superconductors Inc. - Product / Service
• Exhibit 139: High Temperature Superconductors Inc. - Key offerings

• 12.8 Hitachi Ltd. 
• Exhibit 140: Hitachi Ltd. - Overview
• Exhibit 141: Hitachi Ltd. - Business segments
• Exhibit 142: Hitachi Ltd. - Key news
• Exhibit 143: Hitachi Ltd. - Key offerings
• Exhibit 144: Hitachi Ltd. - Segment focus

• 12.9 Innova Superconductor Technology Co. Ltd.
• Exhibit 145: Innova Superconductor Technology Co. Ltd. - Overview
• Exhibit 146: Innova Superconductor Technology Co. Ltd. - Product / Service
• Exhibit 147: Innova Superconductor Technology Co. Ltd. - Key offerings

• 12.10 Japan Superconductor Technology Inc.
• Exhibit 148: Japan Superconductor Technology Inc. - Overview
• Exhibit 149: Japan Superconductor Technology Inc. - Product / Service
• Exhibit 150: Japan Superconductor Technology Inc. - Key offerings

• 12.11 MetOx Technologies Inc. 
• Exhibit 151: MetOx Technologies Inc. - Overview
• Exhibit 152: MetOx Technologies Inc. - Product / Service
• Exhibit 153: MetOx Technologies Inc. - Key offerings

• 12.12 Southwire Co. LLC 
• Exhibit 154: Southwire Co. LLC - Overview
• Exhibit 155: Southwire Co. LLC - Product / Service
• Exhibit 156: Southwire Co. LLC - Key offerings

• 12.13 Sumitomo Electric Industries Ltd. 
• Exhibit 157: Sumitomo Electric Industries Ltd. - Overview
• Exhibit 158: Sumitomo Electric Industries Ltd. - Business segments
• Exhibit 159: Sumitomo Electric Industries Ltd. - Key news
• Exhibit 160: Sumitomo Electric Industries Ltd. - Key offerings
• Exhibit 161: Sumitomo Electric Industries Ltd. - Segment focus

• 12.14 SuNam Co. Ltd. 
• Exhibit 162: SuNam Co. Ltd. - Overview
• Exhibit 163: SuNam Co. Ltd. - Product / Service
• Exhibit 164: SuNam Co. Ltd. - Key offerings

• 12.15 Supercon Inc. 
• Exhibit 165: Supercon Inc. - Overview
• Exhibit 166: Supercon Inc. - Product / Service
• Exhibit 167: Supercon Inc. - Key offerings

• 12.16 THEVA Dunnschichttechnik GmbH 
• Exhibit 168: THEVA Dunnschichttechnik GmbH - Overview
• Exhibit 169: THEVA Dunnschichttechnik GmbH - Product / Service
• Exhibit 170: THEVA Dunnschichttechnik GmbH - Key offerings

13 Appendix

• 13.1 Scope of the report 

• 13.2 Inclusions and exclusions checklist
• Exhibit 171: Inclusions checklist
• Exhibit 172: Exclusions checklist

• 13.3 Currency conversion rates for US$ 
• Exhibit 173: Currency conversion rates for US$

• 13.4 Research methodology 
• Exhibit 174: Research methodology
• Exhibit 175: Validation techniques employed for market sizing
• Exhibit 176: Information sources

• 13.5 List of abbreviations 
• Exhibit 177: List of abbreviations

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