The North America Superconducting Wire Market would witness market growth of 8.9% CAGR during the forecast period (2022-2028).
The market for superconducting wires is anticipated to expand quickly throughout the forecast period due to many superconducting wire-related projects currently under construction. In addition, some practical uses for the next superconductor include MRI, fault current limiters, motors, generators, magnetic separators, power lines, and transformers. Therefore, during the forecast period, it is anticipated that the market will grow quickly due to many endeavors in the area of superconductivity.
The growing urbanization, rising power and electricity demand, rising need for cutting-edge medical equipment, vehicles, and electric devices, and increasing disposable income in emerging economies are some of the key drivers of the superconducting wires market's revenue growth. Additionally, during the forecast period, the market revenue is anticipated to grow due to the quick acceptance of superconductor-based MRI technologies, the development of smart cities, and the increasing application of superconducting wires because of rigorous energy-efficiency standards.
In the US, the Office of Electricity (OE) of the Department of Energy (DOE) is constantly looking for methods to enhance the grid and make it more dependable and effective as part of its mandate. The invention of superconductors, which can be utilized in place of cables connecting transmission towers, is the result of this quest. In order to provide power to Chicago's north side for a one-year test, Commonwealth Edison (ComEd) most recently installed high temperature superconducting (HTS) wire with assistance from OE-developed technology and financing from the Department of Homeland Security. The enhanced superconducting wire is able to transfer power at 200 times as compared to regular copper wire. Additionally, it gives ComEd the freedom to redirect electricity away from damaged substations to speed up customer restoration. This supports the growth of the regional market.
The US market dominated the North America Superconducting Wire Market by Country in 2021 and would continue to be a dominant market till 2028; thereby, achieving a market value of $348.8 Million by 2028. The Canada market is poised to grow at a CAGR of 11.4% during (2022 - 2028). Additionally, The Mexico market would witness a CAGR of 10.4% during (2022 - 2028).
Based on Type, the market is segmented into Low Temperature Superconductor, Medium Temperature Superconductor and High Temperature Superconductor. Based on Sales Channel, the market is segmented into Direct and Indirect. Based on End User, the market is segmented into Medical, Energy, Research, Transportation, and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Global Superconducting Wire Market is Predict to reach $1.6 Billion by 2028, at a CAGR of 9.1%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Bruker Corporation, Furukawa Electric Co., Ltd., Fujikura Ltd., Eaton Corporation PLC, FUJI ELECTRIC CO., LTD., Phoenix Contact GmbH & Co. KG, Sumitomo Electric Industries, Ltd., Nexans SA, LS Cable & System Ltd., and MetOx Technologies, Inc.
Scope of the Study
Market Segments Covered in the Report:
By Type
- Low Temperature Superconductor
- Medium Temperature Superconductor
- High Temperature Superconductor
By Sales Channel
By End User
- Medical
- Energy
- Research
- Transportation
- Others
By Country
- US
- Canada
- Mexico
- Rest of North America
Key Market Players
List of Companies Profiled in the Report:
- Bruker Corporation
- Furukawa Electric Co., Ltd.
- Fujikura Ltd.
- Eaton Corporation PLC
- FUJI ELECTRIC CO., LTD.
- Phoenix Contact GmbH & Co. KG
- Sumitomo Electric Industries, Ltd.
- Nexans SA
- LS Cable & System Ltd.
- MetOx Technologies, Inc.
Chapter 1. Market Scope & Methodology
1.1 Market Definition
1.2 Objectives
1.3 Market Scope
1.4 Segmentation
1.4.1 North America Superconducting Wire Market, by Type
1.4.2 North America Superconducting Wire Market, by Sales Channel
1.4.3 North America Superconducting Wire Market, by End User
1.4.4 North America Superconducting Wire Market, by Country
1.5 Methodology for the research
Chapter 2. Market Overview
2.1 Introduction
2.1.1 Overview
2.1.1.1 Market Composition & Scenario
2.2 Key Factors Impacting the Market
2.2.1 Market Drivers
2.2.2 Market Restraints
Chapter 3. North America Superconducting Wire Market by Type
3.1 North America Low Temperature Superconductor Market by Country
3.2 North America Medium Temperature Superconductor Market by Country
3.3 North America High Temperature Superconductor Market by Country
Chapter 4. North America Superconducting Wire Market by Sales Channel
4.1 North America Direct Market by Country
4.2 North America Indirect Market by Country
Chapter 5. North America Superconducting Wire Market by End User
5.1 North America Medical Market by Country
5.2 North America Energy Market by Country
5.3 North America Research Market by Country
5.4 North America Transportation Market by Country
5.5 North America Others Market by Country
Chapter 6. North America Superconducting Wire Market by Country
6.1 US Superconducting Wire Market
6.1.1 US Superconducting Wire Market by Type
6.1.2 US Superconducting Wire Market by Sales Channel
6.1.3 US Superconducting Wire Market by End User
6.2 Canada Superconducting Wire Market
6.2.1 Canada Superconducting Wire Market by Type
6.2.2 Canada Superconducting Wire Market by Sales Channel
6.2.3 Canada Superconducting Wire Market by End User
6.3 Mexico Superconducting Wire Market
6.3.1 Mexico Superconducting Wire Market by Type
6.3.2 Mexico Superconducting Wire Market by Sales Channel
6.3.3 Mexico Superconducting Wire Market by End User
6.4 Rest of North America Superconducting Wire Market
6.4.1 Rest of North America Superconducting Wire Market by Type
6.4.2 Rest of North America Superconducting Wire Market by Sales Channel
6.4.3 Rest of North America Superconducting Wire Market by End User
Chapter 7. Company Profiles
7.1 Bruker Corporation
7.1.1 Company Overview
7.1.2 Financial Analysis
7.1.3 Segmental and Regional Analysis
7.1.4 Research & Development Expense
7.1.5 Recent strategies and developments:
7.1.5.1 Partnerships, Collaborations, and Agreements:
7.2 Nexans SA
7.2.1 Company Overview
7.2.2 Financial Analysis
7.2.3 Segmental and Regional Analysis
7.2.4 Research & Development Expense
7.2.5 Recent strategies and developments:
7.2.5.1 Acquisition and Mergers:
7.3 LS Cable & System Ltd.
7.3.1 Company Overview
7.3.2 Financial Analysis
7.3.3 Recent strategies and developments:
7.3.3.1 Geographical Expansions:
7.4 Furukawa Electric Co., Ltd.
7.4.1 Company Overview
7.4.2 Financial Analysis
7.4.3 Segmental and Regional Analysis
7.4.4 Research & Development Expense
7.5 Sumitomo Electric Industries, Ltd.
7.5.1 Company Overview
7.5.2 Financial Analysis
7.5.3 Regional & Segmental Analysis
7.5.4 Research & Development Expenses
7.6 Fujikura Ltd.
7.6.1 Company Overview
7.6.2 Financial Analysis
7.6.3 Segmental and Regional Analysis
7.6.4 Research & Development Expenses
7.7 Eaton Corporation PLC
7.7.1 Company Overview
7.7.2 Financial Analysis
7.7.3 Segmental Analysis
7.7.4 Research & Development Expense
7.8 Fuji Electric Co. Ltd.
7.8.1 Company Overview
7.8.2 Financial Analysis
7.8.3 Segmental and Regional Analysis
7.8.4 Research & Development Expense
7.9 Phoenix Contact GmbH & Co. KG
7.9.1 Company Overview
7.9.2 Recent strategies and developments:
7.9.2.1 Acquisition and Mergers:
7.10. MetOx Technologies, Inc.
7.10.1 Company Overview
TABLE 1 North America Superconducting Wire Market, 2018 - 2021, USD Million
TABLE 2 North America Superconducting Wire Market, 2022 - 2028, USD Million
TABLE 3 North America Superconducting Wire Market by Type, 2018 - 2021, USD Million
TABLE 4 North America Superconducting Wire Market by Type, 2022 - 2028, USD Million
TABLE 5 North America Low Temperature Superconductor Market by Country, 2018 - 2021, USD Million
TABLE 6 North America Low Temperature Superconductor Market by Country, 2022 - 2028, USD Million
TABLE 7 North America Medium Temperature Superconductor Market by Country, 2018 - 2021, USD Million
TABLE 8 North America Medium Temperature Superconductor Market by Country, 2022 - 2028, USD Million
TABLE 9 North America High Temperature Superconductor Market by Country, 2018 - 2021, USD Million
TABLE 10 North America High Temperature Superconductor Market by Country, 2022 - 2028, USD Million
TABLE 11 North America Superconducting Wire Market by Sales Channel, 2018 - 2021, USD Million
TABLE 12 North America Superconducting Wire Market by Sales Channel, 2022 - 2028, USD Million
TABLE 13 North America Direct Market by Country, 2018 - 2021, USD Million
TABLE 14 North America Direct Market by Country, 2022 - 2028, USD Million
TABLE 15 North America Indirect Market by Country, 2018 - 2021, USD Million
TABLE 16 North America Indirect Market by Country, 2022 - 2028, USD Million
TABLE 17 North America Superconducting Wire Market by End User, 2018 - 2021, USD Million
TABLE 18 North America Superconducting Wire Market by End User, 2022 - 2028, USD Million
TABLE 19 North America Medical Market by Country, 2018 - 2021, USD Million
TABLE 20 North America Medical Market by Country, 2022 - 2028, USD Million
TABLE 21 North America Energy Market by Country, 2018 - 2021, USD Million
TABLE 22 North America Energy Market by Country, 2022 - 2028, USD Million
TABLE 23 North America Research Market by Country, 2018 - 2021, USD Million
TABLE 24 North America Research Market by Country, 2022 - 2028, USD Million
TABLE 25 North America Transportation Market by Country, 2018 - 2021, USD Million
TABLE 26 North America Transportation Market by Country, 2022 - 2028, USD Million
TABLE 27 North America Others Market by Country, 2018 - 2021, USD Million
TABLE 28 North America Others Market by Country, 2022 - 2028, USD Million
TABLE 29 North America Superconducting Wire Market by Country, 2018 - 2021, USD Million
TABLE 30 North America Superconducting Wire Market by Country, 2022 - 2028, USD Million
TABLE 31 US Superconducting Wire Market, 2018 - 2021, USD Million
TABLE 32 US Superconducting Wire Market, 2022 - 2028, USD Million
TABLE 33 US Superconducting Wire Market by Type, 2018 - 2021, USD Million
TABLE 34 US Superconducting Wire Market by Type, 2022 - 2028, USD Million
TABLE 35 US Superconducting Wire Market by Sales Channel, 2018 - 2021, USD Million
TABLE 36 US Superconducting Wire Market by Sales Channel, 2022 - 2028, USD Million
TABLE 37 US Superconducting Wire Market by End User, 2018 - 2021, USD Million
TABLE 38 US Superconducting Wire Market by End User, 2022 - 2028, USD Million
TABLE 39 Canada Superconducting Wire Market, 2018 - 2021, USD Million
TABLE 40 Canada Superconducting Wire Market, 2022 - 2028, USD Million
TABLE 41 Canada Superconducting Wire Market by Type, 2018 - 2021, USD Million
TABLE 42 Canada Superconducting Wire Market by Type, 2022 - 2028, USD Million
TABLE 43 Canada Superconducting Wire Market by Sales Channel, 2018 - 2021, USD Million
TABLE 44 Canada Superconducting Wire Market by Sales Channel, 2022 - 2028, USD Million
TABLE 45 Canada Superconducting Wire Market by End User, 2018 - 2021, USD Million
TABLE 46 Canada Superconducting Wire Market by End User, 2022 - 2028, USD Million
TABLE 47 Mexico Superconducting Wire Market, 2018 - 2021, USD Million
TABLE 48 Mexico Superconducting Wire Market, 2022 - 2028, USD Million
TABLE 49 Mexico Superconducting Wire Market by Type, 2018 - 2021, USD Million
TABLE 50 Mexico Superconducting Wire Market by Type, 2022 - 2028, USD Million
TABLE 51 Mexico Superconducting Wire Market by Sales Channel, 2018 - 2021, USD Million
TABLE 52 Mexico Superconducting Wire Market by Sales Channel, 2022 - 2028, USD Million
TABLE 53 Mexico Superconducting Wire Market by End User, 2018 - 2021, USD Million
TABLE 54 Mexico Superconducting Wire Market by End User, 2022 - 2028, USD Million
TABLE 55 Rest of North America Superconducting Wire Market, 2018 - 2021, USD Million
TABLE 56 Rest of North America Superconducting Wire Market, 2022 - 2028, USD Million
TABLE 57 Rest of North America Superconducting Wire Market by Type, 2018 - 2021, USD Million
TABLE 58 Rest of North America Superconducting Wire Market by Type, 2022 - 2028, USD Million
TABLE 59 Rest of North America Superconducting Wire Market by Sales Channel, 2018 - 2021, USD Million
TABLE 60 Rest of North America Superconducting Wire Market by Sales Channel, 2022 - 2028, USD Million
TABLE 61 Rest of North America Superconducting Wire Market by End User, 2018 - 2021, USD Million
TABLE 62 Rest of North America Superconducting Wire Market by End User, 2022 - 2028, USD Million
TABLE 63 Key Information – Bruker Corporation
TABLE 64 Key Information – Nexans SA
TABLE 65 Key Information – LS Cable & System Ltd.
TABLE 66 Key Information –Furukawa Electric Co., Ltd.
TABLE 67 Key information – SUMITOMO ELECTRIC INDUSTRIES, Ltd.
TABLE 68 Key Information – Fujikura Ltd.
TABLE 69 key information – Eaton Corporation PLC
TABLE 70 Key Information – Fuji Electric Co., Ltd.
TABLE 71 Key Information – Phoenix Contact GmbH & Co. KG
TABLE 72 Key Information –MetOx Technologies, Inc.
List of Figures
FIG 1 Methodology for the research