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Superconducting power cables act as a bridge between electric energy transmission and distribution. In a superconducting power cable, a superconducting conductor that reaches superconductivity of zero electric resistance below a specific low temperature is used, allowing low-loss transmission of large currents.
The global installation production of superconducting cables increased from 5624 meter in 2013 to 8295 meter in 2017, at a CAGR of 10.2%. In 2017, the global superconducting cables market is led by USA. Europe is the second-largest region-wise market.
Currently, Nexans, AMSC and Furukawa Electric are major manufacturers of this industry. Nexans is a global leader. In 2017, the installation production of Nexans was 1327 meter, and the holds a share of 16%. In Europe and the United States, Nexans, AMSC and STI are the market leader. Furukawa Electric, SEI and SuNam are leaders in the Asia Pacific market.
As the transmission medium for HVDC applications, superconductor cables can move virtually any amount of power with much greater efficiency than any other transmission technology – and they move it underground, out of site and out of harm’s way. In 2017, the Superconducting Cables consumption (sales) in Grid and Smart Grid was 4881, and it will reach 11690 in 2024; while the sales market share in Grid and Smart Grid was 58.84% in 2017 and will be 58.88% in 2024. Within the next 10 years, superconducting power cables could offer significant power transmission solutions for densely populated, high load areas.
Superconductors come in two types, low-temperature (LTS) and high-temperature (HTS). At present, the main type of superconducting cables is the second-generation YBCO Cables, which will also be the mainstream of future development. The first generation HTS will gradually be eliminated. However, YBCO Cables maybe quickly be eliminated by the new materials with better cost and performance in the future. Therefore, the core technology of superconducting cables is superconducting materials.
These unique characteristics of superconducting cables make them an attractive technology, especially in urban areas where underground space and land availability is. In these urban areas, the networks are most often reaching their capacity limits, making the case for investigating the feasibility of using HTS cables in electricity distribution networks even stronger. However, the high cost is a key factor limiting the development of this industry.
Market Analysis and Insights: Global Superconducting Cables Market
The global Superconducting Cables market was valued at US$ 266.9 million in 2019 and it is expected to reach US$ 598.8 million by the end of 2026, growing at a CAGR of 12.1% during 2021-2026.
Global Superconducting Cables Market: Drivers and Restrains
The research report has incorporated the analysis of different factors that augment the market’s growth. It constitutes trends, restraints, and drivers that transform the market in either a positive or negative manner. This section also provides the scope of different segments and applications that can potentially influence the market in the future. The detailed information is based on current trends and historic milestones. This section also provides an analysis of the volume of production about the global market and about each type from 2016 to 2027. This section mentions the volume of production by region from 2016 to 2027. Pricing analysis is included in the report according to each type from the year 2016 to 2027, manufacturer from 2016 to 2021, region from 2016 to 2021, and global price from 2016 to 2027.
A thorough evaluation of the restrains included in the report portrays the contrast to drivers and gives room for strategic planning. Factors that overshadow the market growth are pivotal as they can be understood to devise different bends for getting hold of the lucrative opportunities that are present in the ever-growing market. Additionally, insights into market expert’s opinions have been taken to understand the market better.
Global Superconducting Cables Market: Segment Analysis
The research report includes specific segments by region (country), by manufacturers, by Type and by Application. Each type provides information about the production during the forecast period of 2016 to 2027. by Application segment also provides consumption during the forecast period of 2016 to 2027. Understanding the segments helps in identifying the importance of different factors that aid the market growth.
Segment by Type
YBCO Cables
Bi-2212 Cables
Bi2223 Cables
Others
Segment by Application
Grid and Smart Grid
Industrial Applications
Others
By Company
Nexans
AMSC
MetOx
Furukawa Electric
STI
Bruker
Fujikura
SEI
SuNam
SHSC
Innost
Production by Region
North America
Europe
China
Japan
South Korea
Consumption by Region
North America
U.S.
Canada
Europe
Germany
France
U.K.
Italy
Russia
Asia-Pacific
China
Japan
South Korea
India
Australia
Taiwan
Indonesia
Thailand
Malaysia
Philippines
Vietnam
Latin America
Mexico
Brazil
Argentina
Middle East & Africa
Turkey
Saudi Arabia
U.A.E
The global installation production of superconducting cables increased from 5624 meter in 2013 to 8295 meter in 2017, at a CAGR of 10.2%. In 2017, the global superconducting cables market is led by USA. Europe is the second-largest region-wise market.
Currently, Nexans, AMSC and Furukawa Electric are major manufacturers of this industry. Nexans is a global leader. In 2017, the installation production of Nexans was 1327 meter, and the holds a share of 16%. In Europe and the United States, Nexans, AMSC and STI are the market leader. Furukawa Electric, SEI and SuNam are leaders in the Asia Pacific market.
As the transmission medium for HVDC applications, superconductor cables can move virtually any amount of power with much greater efficiency than any other transmission technology – and they move it underground, out of site and out of harm’s way. In 2017, the Superconducting Cables consumption (sales) in Grid and Smart Grid was 4881, and it will reach 11690 in 2024; while the sales market share in Grid and Smart Grid was 58.84% in 2017 and will be 58.88% in 2024. Within the next 10 years, superconducting power cables could offer significant power transmission solutions for densely populated, high load areas.
Superconductors come in two types, low-temperature (LTS) and high-temperature (HTS). At present, the main type of superconducting cables is the second-generation YBCO Cables, which will also be the mainstream of future development. The first generation HTS will gradually be eliminated. However, YBCO Cables maybe quickly be eliminated by the new materials with better cost and performance in the future. Therefore, the core technology of superconducting cables is superconducting materials.
These unique characteristics of superconducting cables make them an attractive technology, especially in urban areas where underground space and land availability is. In these urban areas, the networks are most often reaching their capacity limits, making the case for investigating the feasibility of using HTS cables in electricity distribution networks even stronger. However, the high cost is a key factor limiting the development of this industry.
Market Analysis and Insights: Global Superconducting Cables Market
The global Superconducting Cables market was valued at US$ 266.9 million in 2019 and it is expected to reach US$ 598.8 million by the end of 2026, growing at a CAGR of 12.1% during 2021-2026.
Global Superconducting Cables Market: Drivers and Restrains
The research report has incorporated the analysis of different factors that augment the market’s growth. It constitutes trends, restraints, and drivers that transform the market in either a positive or negative manner. This section also provides the scope of different segments and applications that can potentially influence the market in the future. The detailed information is based on current trends and historic milestones. This section also provides an analysis of the volume of production about the global market and about each type from 2016 to 2027. This section mentions the volume of production by region from 2016 to 2027. Pricing analysis is included in the report according to each type from the year 2016 to 2027, manufacturer from 2016 to 2021, region from 2016 to 2021, and global price from 2016 to 2027.
A thorough evaluation of the restrains included in the report portrays the contrast to drivers and gives room for strategic planning. Factors that overshadow the market growth are pivotal as they can be understood to devise different bends for getting hold of the lucrative opportunities that are present in the ever-growing market. Additionally, insights into market expert’s opinions have been taken to understand the market better.
Global Superconducting Cables Market: Segment Analysis
The research report includes specific segments by region (country), by manufacturers, by Type and by Application. Each type provides information about the production during the forecast period of 2016 to 2027. by Application segment also provides consumption during the forecast period of 2016 to 2027. Understanding the segments helps in identifying the importance of different factors that aid the market growth.
Segment by Type
YBCO Cables
Bi-2212 Cables
Bi2223 Cables
Others
Segment by Application
Grid and Smart Grid
Industrial Applications
Others
By Company
Nexans
AMSC
MetOx
Furukawa Electric
STI
Bruker
Fujikura
SEI
SuNam
SHSC
Innost
Production by Region
North America
Europe
China
Japan
South Korea
Consumption by Region
North America
U.S.
Canada
Europe
Germany
France
U.K.
Italy
Russia
Asia-Pacific
China
Japan
South Korea
India
Australia
Taiwan
Indonesia
Thailand
Malaysia
Philippines
Vietnam
Latin America
Mexico
Brazil
Argentina
Middle East & Africa
Turkey
Saudi Arabia
U.A.E
Frequently Asked Questions
This market study covers the global and regional market with an in-depth analysis of the overall growth prospects in the market. Furthermore, it sheds light on the comprehensive competitive landscape of the global market. The report further offers a dashboard overview of leading companies encompassing their successful marketing strategies, market contribution, recent developments in both historic and present contexts.
- By product type
- By End User/Applications
- By Technology
- By Region
The report provides a detailed evaluation of the market by highlighting information on different aspects which include drivers, restraints, opportunities, and threats. This information can help stakeholders to make appropriate decisions before investing.
