PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1784316
PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1784316
The global superconducting wire market is anticipated to grow from USD 1.32 billion in 2025 to USD 2.19 billion by 2030, at a CAGR of 10.6%.
Scope of the Report | |
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Years Considered for the Study | 2021-2030 |
Base Year | 2024 |
Forecast Period | 2025-2030 |
Units Considered | Value (USD Million/Billion) and Volume (KM) |
Segments | Superconducting wire market, by type, end user, sales channel, application, and region |
Regions covered | North America, Europe, Asia Pacific, and Rest of the World |
The increasing demand for superconductor-based magnetic resonance imaging (MRI) systems, coupled with the growing adoption of superconducting wires as a superior alternative to conventional conductors, are key factors driving the growth of the superconducting wire market.
"High-temperature superconductor to be second-largest segment of superconducting wire market, by type"
The superconducting wire market is split by type into low-temperature, medium-temperature, and high-temperature superconductors. In 2025, high-temperature superconductor wires are likely to account for the second-largest market share. The rising implementation of superconducting wires over conventional wires makes high-temperature superconductors ideal for applications such as magnetic resonance imaging (MRI) and magnetic levitation (maglev).
"Medical segment to capture prominent share of superconducting wire market based on end user"
The superconducting wire market has been segmented by end user into energy, medical, transportation, research, and others. The medical segment is expected to command the market throughout the forecast period. A strong global shift toward using superconductor-wound magnets in MRI and NMR systems is expected to drive the demand for superconducting wires in the medical segment.
"North America to be second-largest market during forecast period"
North America is expected to be the second-largest market due to the Increasing investments in the offshore wind energy sector, development of maglev trains, and increasing focus of the governments on developing medical facilities in North American countris, specifically the US, is anticipated to boost the adoption of superconducting wire-based magnetic resonance imaging (MRI) scanners are expected to drive the growth of the superconducting wire market in North America.
In-depth interviews have been conducted with various key industry participants, subject-matter experts, C-level executives of key market players, and industry consultants, among other experts, to obtain and verify critical qualitative and quantitative information and assess future market prospects.
By Company Type: Tier 1 - 65%, Tier 2 - 24%, and Tier 3 - 11%
By Designation: C-level Executives - 30%, Directors - 25%, and Others - 45%
By Region: North America - 27%, Europe - 20%, and Asia Pacific - 53%
Note: Others include product engineers, product specialists, and engineering leads.
The tiers of the companies are defined based on their total revenues as of 2024. Tier 1: >USD 1 billion, Tier 2: from USD 500 million to USD 1 billion, and Tier 3: <USD 500 million
A few major players with a wide regional presence dominate the superconducting wire market. The leading players are Sumitomo Electric Industries, Ltd. (Japan), Fujikura Ltd. (Japan), Furukawa Electric Co., Ltd. (Japan), Bruker (US), and American Superconductor (US).
The report defines, describes, and forecasts the global superconducting wire market based on type, vertical, application, sales channel, and region. It also offers a detailed qualitative and quantitative analysis of the market. The report comprehensively reviews the major market drivers, restraints, opportunities, and challenges. It also covers various important aspects of the market. These include an analysis of the competitive landscape, market dynamics, market estimates, in terms of value, and future trends in the superconducting wire market.
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