The global superconducting wire market size was estimated at USD 1.14 billion in 2023 and is estimated to grow at a CAGR of 9.0% from 2024 to 2030. Superconducting wire offers superior conduction of electricity with minimal losses making it a popular wire material for energy generation and critical applications. The growing demand for efficient power transmission is anticipated to boost the market over the forecast period.
Superconducting wires have several benefits when compared to copper wires, owing to the higher maximum current densities and zero power dissipation that it exhibits. They are widely used in superconducting magnets, which are used in scientific and medical equipment where high magnetic fields are necessary.
Gather more insights about the market drivers, restrains and growth of the Superconducting Wire Market
Key Superconducting Wire Company Insights
Some of the key players operating in the market include Kennametal Inc., and Sandvik AB.
• Japan Superconductor Technology Inc. was founded in 2002 and is specialized in the manufacture of superconducting material and technology. Its product line includes NbTi and Nb3Sn superconducting wire, High-resolution NMR magnets, various magnets for use in MRI and R&D, component parts and accessories for superconducting magnets
• U.S.-based American Superconductor was founded in 1987 and specializes in the production of superconducting wires and products for the development of energy & power systems.
Recent Developments
• In December 2023, U.S.-based MetOx International, Inc., a producer of advanced power delivery technology, announced the expansion of its Xeus HTS wire manufacturing.
• In June 2023, Japan-based JEOL Ltd. acquired a minority stake in Japan Superconductor Technology, Inc. from Kobe Steel, Ltd. as part of its business expansion strategy.
• In January 2023, UK-based Tokamak Energy signed an agreement with Furukawa Electric Co., Ltd. and SuperPower Inc. to supply HTS tape for its new advanced prototype fusion device, ST80-HTS.
Global Superconducting Wire Market Report Segmentation
This report forecasts revenue and volume growth at global, country, and regional levels and provides an analysis of the latest trends in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the global superconducting wire market report on the basis of product, end-use and region.
Product Outlook (Revenue, USD Million, 2018 - 2030)
• Low Temperature Semiconductor
• Medium Temperature Semiconductor
• High Temperature Semiconductor
End-use Outlook (Revenue, USD Million, 2018 - 2030)
• Energy
• Medical
• Research
• Others
Regional Outlook (Revenue, USD Million, 2018 - 2030)
• North America
o U.S.
o Canada
• Europe
o Germany
o UK
o France
o Italy
o Spain
• Asia Pacific
o China
o India
o Japan
o South Korea
• Central & South America
• Middle East & Africa
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