Global High Temperature Superconducting Wires Market 2016-2020
An HTS is a superconducting material with a critical temperature above -250°C. High temperature superconductivity enables certain materials, at low temperatures, to lose all resistance to the flow of electricity. This helps in technological innovations for different applications. The superconducting wire has been an enabling technology for advanced applications, opening new opportunities for developments in biology, condensed matter physics, chemistry, magnetic resonance, material sciences, particle accelerators, colliders, and fusion devices.
Technavio’s analysts forecast the global high temperature superconducting (HTS) wires market to grow at a CAGR of 4.8% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the global high temperature superconducting (HTS) wires market for 2016-2020. To calculate the market size, the report considers the revenue generated from the consumption of HTS wires (100A-300A) for healthcare, R&D, electronics, and other applications such as transportation, aerospace and defense, and industrial processing.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global High Temperature Superconducting (HTS) Wires Market 2016-2020
Technavio recognizes the following companies as the key players in the global high temperature superconducting (HTS) wires market: AMSC, SUNAM, Superconductor Technologies and SuperPower.
Other Prominent Vendors in the market are: Bruker, Fujikura, Metal Oxide Technologies, Nexans, Sumitomo Electric Industries, and THEVA.
Commenting on the report, an analyst from Technavio’s team said: “Emerging applications in instrumentation, sensors, and radars will be a key trend for market growth. Superconductors empower the most delicate detectors of electromagnetic radiation and are used in scientific research both in space-based National Aeronautics and Space Administration (NASA) missions and at ground-based astronomy observatories.”
According to the report, one of the key drivers for market growth will be improvement in medical imaging and diagnostics. MRI offers a massive enhancement in diagnostic capability, exhibiting soft tissue features that are not visible using X-ray imaging or ultrasound. In addition, MRI can also eliminate the need for harmful X-ray examinations. These benefits of MRI have reduced the need for exploratory surgery to a large extent. The availability of detailed diagnostic information is contributing toward the reduction in the level of required intervention, reducing the duration of hospital stays and the degree of discomfort experienced by patients.
Further, the report states that potential and upcoming customers such as electric transportation need a consistent and regular environment for investment in R&D and demonstration projects. Currently, governments and other related organizations are skeptical about the adoption of HTS technology due to the high lead time and expensive manufacturing processes. This can act as a major challenge if HTS technology fails to yield the promised benefits during the forecast period.
AMSC, SUNAM, Superconductor Technologies SuperPower, Bruker, Fujikura, Metal Oxide Technologies, Nexans, Sumitomo Electric Industries, THEVA.
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