Superconducting Wire Market to Surpass USD 1 Bn by 2021, Predicts M&M in Its New In-demand Research Study Available at MarketPublishers.com
17 Feb 2017 • by Natalie Aster
LONDON – Globally, the market for superconducting wire is predicted to show sustainable growth at a healthy CAGR of 9.6% during 2016-2021. By 2021, the market is likely to amount to the value of little over USD 1 billion, encouraged by such factors as escalating demand for magnetic resonance imaging (MRI) systems and advancements in computer chip design technology.
The demand for superconductor cables and some other auxiliary electrical equipment (based on superconductor technology) will likely be spurred by synergies of high voltage transmission application and high efficiencies. However, the market growth may be considerably hindered by lack of acceptance with respect to reliability and cost of superconducting devices.
On the basis of product types, LT and MT superconductors segment is slated to account for the largest market share through 2021. Rising demand for MRI systems coupled with cheaper wire cost if compared with HT superconductors are amid top factors contributing to high demand for LT and MT superconductors.
Region-wise, Europe is set to keep the dominant position in the global market for superconducting wire through 2021, majorly due to significant investments of European countries in various applications to accelerate commercialization of superconductor equipment. For instance, Germany, France, Spain, the Netherlands and the U.K. are forecast to generate strong demand for superconductor cables and generators in the near future. Meantime, the highest CAGR through 2021 is predicted to be registered in North America.
New topical research report “Superconducting Wire Market by Type, Application, and Region - Global Forecast to 2021” prepared by M&M draws a detailed picture of the scenario in the global market for superconducting wire. It provides a thorough market segmentation analysis on the basis of types, applications and regions. Additionally, it discloses important qualitative and quantitative information on the market performance, offers insights into regional market scenarios for the period 2016-2021, examines top market drivers, restraints, hinders and challenges along with the major market growth prospects and opportunities up to 2021. The report also profiles 10 major companies and looks into the competitive situation in the market, providing data on the most lucrative strategies. Global forecasts through 2021 are at hand here, too.
Many other insightful research reports by M&M are available in its catalogue at MarketPublishers.com.