The Global High TC Superconductors Market size is projected to grow at a CAGR of 8.4% during the forecast period, 2021-2028. Increasing demand from electric equipment and medical equipment for their usage in power transmission & distribution applications are major drivers for this market growth. North America region dominated the global High TC Superconductors Market with maximum share quantity in 2018 followed by Europe, Asia Pacific (APAC), and Middle East & Africa (MEA). The high cost of production is one of the factors which will limit the expansion of these products globally.
High-Temperature Superconductors (HTS) are superconductive material that has zero electrical resistance at a certain temperature. When the material is cooled below its critical temperature, it becomes an excellent conductor of electricity with virtually no loss of energy. HTS can carry more power and generate less heat than traditional copper wires when used in electric motors or generators. They also have potential applications for medical equipment as well as other industrial uses such as magnetically levitating trains.
On the basis of Types, the market is segmented into 1G HTS, 2G HTS.
The first type of high-temperature superconductors is called Type I, or "Type-I" for short. The most common material in this category is pure yttrium barium copper oxide (YBCO). Other materials include terbium barium copper oxide (TBCCO) and thulium strontium calcium copper oxide (TSCCO).
Type I HTS's are also the material of choice for creating superconducting magnetic energy storage devices, which can generate electricity and store it as a potential source for future use by such systems as power plants or hybrid vehicles. Type I materials have advantages over other types in this category because they require less cooling when used to create these devices (40 K) and can be stacked together more easily due to their low penetration depth near surfaces (~0.01 mm).
2G HTS can be defined as the second-generation high-temperature superconductors. Compared with the traditional low temperatures, it has a lower critical current density and higher magnetic field strength than that of the first generation. This type is also called "superconductor" for short.
Type II HTS being more common in industrial applications due to its good characteristics such as resistance to electromagnetism, overcurrent capability, etc., which have been proved experimentally by many researchers around the world.
On the basis of Application, the market is segmented into Electric Equipment, Medical Equipment, Industrial Equipment, and Others.
High-Temperature Superconductors in Electric Equipment are used for the transmission and distribution of electric power. In order to keep electricity flowing, HTS in Electric Equipment must be capable of withstanding high temperatures without a change in its inherent properties. The wires that transmit electrical energy contain many sections where they cross over one another or connect together; these joints can generate heat which would disrupt the flow of current through the wire if not cooled by cooling coils at regular intervals along its length.
High-Temperature Superconductors are used in Magnetic Resonance Imaging (MRI) machines, which produce images of human anatomy. MRI scanners use strong magnetic fields to create detailed anatomical pictures that can be examined later on a computer screen or printed out as hard copies.
Industrial equipment has been witnessing significant growth owing to the increase in the use of HTS in the heavy machinery industry owing to its major benefits including lightweight with better magnetic properties over conventional conductors like copper etc., which allows it not only to reduce transmission losses but also improve productivity considerably.
On the basis of Region, the market is segmented into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. The North American market dominates the global market in terms of revenue, owing to a number of factors such as increasing demand for electrical equipment and medical equipment. The region is followed by Europe because it has been witnessing strong adoption rates in industrial applications.
The Latin America Market is expected to witness significant growth during the forecast period on account of its rapid economic development and high demand for superconductors from electrical and electronic industries. The Asia Pacific will experience a moderate growth rate due to emerging economies like India which have a growing need for cheaper products with high-efficiency ratings that are being manufactured using low-cost technologies.
Demand for high-TC superconductors is driven by increasing investments in developing technologies. High TC technology also helps reduce emissions from coal-fired plants which have become increasingly important due to environmental concerns about climate change.
The global high-temperature (HT) electric power generation market is expected to witness remarkable demand growth owing to its ability to store electricity more efficiently and help provide better infrastructure and energy services around the world. High-temperature technology also helps reduce emissions from coal-fired plants which have become increasingly important due to environmental concerns about climate change.
Up Market Research published a new report titled “High TC Superconductors Market research report which is segmented by Types (1G HTS, 2G HTS), By Applications (Electric Equipment, Medical Equipment, Industrial Equipment, Others), By Players/Companies AMSC, Furukawa, Bruker, Fujikura, Sumitomo, SuNam, SHSC, Innost, THEVA”.
Report Attributes | Report Details |
Report Title | High TC Superconductors Market Research Report |
By Type | 1G HTS, 2G HTS |
By Application | Electric Equipment, Medical Equipment, Industrial Equipment, Others |
By Companies | AMSC, Furukawa, Bruker, Fujikura, Sumitomo, SuNam, SHSC, Innost, THEVA |
Regions Covered | North America, Europe, APAC, Latin America, MEA |
Base Year | 2020 |
Historical Year | 2018 to 2019 (Data from 2010 can be provided as per availability) |
Forecast Year | 2028 |
Number of Pages | 215 |
Number of Tables & Figures | 151 |
Customization Available | Yes, the report can be customized as per your need. |
The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.
The market is segmented by Type 1G HTS, 2G HTS and By Application Electric Equipment, Medical Equipment, Industrial Equipment, Others.
Some of the companies that are profiled in this report are:
High TC Superconductors Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.
Key Benefits for Industry Participants & Stakeholders:
Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.
We have studied the High TC Superconductors Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.
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