Superconducting wire is a wire made of superconductors which has zero electrical resistance, and can replace the traditional large and heavy cables. Superconducting wires are used in a wide variety of applications such as electric power, energy industry, large scale computing, electric utility applications and many more. Niobium-titanium (NbTi) is one of the most commonly used superconducting wire, which is widely used for making superconducting magnets. Superconducting magnets are electromagnets made from coils of superconducting wires. These superconducting magnets are further used in the transportation industry.
For instance, maglev trains could use the superconducting magnets for its levitation from the track level. It is one of the most efficient ways of creating a powerful magnetic field with a reasonable energy cost. Furthermore, it could also be used in the medical industry in Magnetic Resonance Imaging (MRI) machines. The superconducting wire can be used in formation of particle accelerators. The use of superconducting wires help the flow of large amount of electric current through significantly lower dimensions of cables possible. Superconducting wires are further used in a wide variety of industrial applications for carrying out large amount of current with no voltage drop.
The global superconducting wire market is expected to see significant growth during the forecast period 2017-2025 owing to the increased use of superconductors in various industry verticals. Additionally, the significant benefits associated with using superconducting wires in place of traditional cables is likely to have an impact on the global superconducting wire market. The amount of voltage carried by a superconducting wire is considerably high as compared to the traditional cables used. The high expenses associated with superconducting wires is a factor which could hamper the growth of the global superconducting wire market. Superconductors are to be kept under a critical temperature and are often supplemented by a magnetic field to avoid internal forces, maintenance of which could be expensive.
The global superconducting wire market is segmented in terms of type, industry, and geographical regions. On the basis of type, the market is segmented into Low Temperature Superconductor (LTS) wire and High Temperature Superconductor (HTS) wire. LTS wires are made from superconductors with low critical temperature while HTS wires are made from superconductors with high critical temperatures. LTS wires are cheaper compared to their counterpart. Owing to the low cost, LTS wires could see significant application in commercial use. LTS can be used for MRI magnets, Nuclear Magnetic Resonance (NMR) magnets, accelerator magnets, fusion magnets, Superconducting Magnetic Energy Storage (SMES) magnets and many more. HTS wires are used for induction heater magnets, current leads and more. Based on end use industry, the global superconducting wire market is segmented into healthcare, transportation, electrics and electronics and others. The healthcare industry is expected to have a significant share of the global superconducting wire market during the forecast period 2017-2025. As per geographical region, the superconducting wire market is segmented into North America, South America, Middle East & Africa, Europe, and Asia Pacific. Owing to the significant growth of the healthcare industry, the Asia Pacific region could see significant growth in the global superconducting wire market.
The superconducting wire market has many players due to the wide variety of uses. Some of the key players are Furukawa Electric Co. Ltd., Fujikura Ltd., Superconductor Technologies Inc., Siemens AG, Metal Oxide Technologies, American Semiconductor, Bruker Corporation, Supercon Inc., Japan Superconductor Technology Inc., and Sumitomo Electric Industries Ltd.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
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Below is a snapshot of these quadrants.
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The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
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The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.