Table of Contents
Introduction
The Superconducting Wire Market is poised for substantial growth, with its size projected to increase from USD 1,300 million in 2022 to approximately USD 3,178 million by 2032, reflecting a robust CAGR of 9.6% during the forecast period. Superconducting wires, made from materials that exhibit zero electrical resistance at low temperatures, are crucial in various applications due to their ability to conduct large currents without energy loss. Key growth drivers include the rising demand for energy-efficient solutions and the increasing need for advanced medical devices.
In the energy sector, superconducting wires are instrumental in modernizing power grids, facilitating high-speed power transmission with minimal energy loss. This contributes to enhanced grid reliability and aligns with global sustainability goals, especially as the energy industry transitions toward net-zero carbon emissions. Additionally, significant investments in research and development are driving innovations in superconducting materials and applications, further boosting market growth.
The medical industry also significantly benefits from superconducting wires, particularly in the production of superconducting magnets used in MRI machines and other diagnostic equipment. These magnets generate stronger magnetic fields than conventional electromagnets, improving the quality and accuracy of medical imaging and scientific research.
However, the market faces challenges, including high manufacturing costs and the technical complexity of producing superconducting wires. The need for specialized knowledge and expertise in handling these materials limits broader adoption. Despite these challenges, advancements in high-temperature superconductors and expanding applications in sectors like transportation and research are expected to drive continued market growth.
Overall, the superconducting wire market is set for dynamic growth, driven by technological advancements and increased investments across various sectors. The market’s expansion will be supported by ongoing research, innovations in material science, and the rising demand for efficient and sustainable energy solutions.
Superconducting Wire Statistics
- The magnetic confinement fusion reactor, ITER, being constructed in Cadarache, France, is the largest application of Nb3Sn yet; 380 tons for the Toroidal Field (TF) magnets and 122 tons for the Central Solenoid (CS) magnets.
- wires optimized for 12 T, 4.2 K performance, about 60% of the non-Cu cross-section is A15, 35% residual Cu and Sn core, and only 5% a residual Nb7.5wt.%Ta diffusion barrier.
- In 2020, around 16% of energy in Europe was lost while moving electricity around the continent.
- The prototype uses 99% less copper and has a 90% reduction in energy loss compared to conventional copper cables.
- superconductors must be cooled to extremely low temperatures to work – as low as minus 270 degrees Celsius.
- SUBRA hopes to produce a 50-meter test version of the cable over the next year and a 400-meter full demonstration cable within 18 months from now.
- use of a superconducting cable on a wind farm can reduce the costs of setting it up by about 15%.
- And our 20th-century grid loses around 10 percent of the power generated as heat.
- Essen’s cable is unobtrusive in a meter-wide easement and only 70cm below ground.
- cable requires an easement of about 130 meters wide, with pylons up to 80 meters high to allow for safety.
- The CC made by SuperPower with 50 μm thick substrate and 20 μm thick Cu stabilizer showed no degradation of critical current after 200k cycles under a of 0.367% and R of 0.5.
Emerging Trends
High-Temperature Superconductors (HTS): There’s a growing emphasis on developing HTS wires, which are pivotal in applications requiring strong magnetic fields such as in magnetic resonance imaging (MRI) systems and particle accelerators. These wires are increasingly favored for their efficiency and capacity to operate at higher temperatures compared to traditional superconductors.
Expansion in Energy Applications: Superconducting wires are being integrated into the modernization of electrical grids to improve efficiency and reduce energy losses. This is particularly significant as the energy sector moves towards sustainable and energy-efficient technologies to meet global net-zero targets. The wires’ ability to conduct electricity without resistance means they are ideal for long-distance power transmission and are increasingly used in offshore wind farms and other renewable energy projects.
Medical and Scientific Research: In the medical field, the demand for superconducting wires is driven by their use in MRI machines, which require strong and stable magnetic fields to produce high-quality images. Additionally, research institutions are leveraging these wires in scientific equipment such as spectrometers and fusion reactors, pushing forward the boundaries of what’s possible in scientific inquiry and medical diagnostics.
Innovations in Transportation: The transportation sector is also benefiting from advancements in superconducting technologies, particularly in the development of maglev (magnetic levitation) trains. These trains utilize superconducting magnets that allow for faster speeds and lower maintenance costs due to fewer moving parts.
Use Cases
Medical Imaging: Superconducting wires are extensively used in medical imaging devices such as Magnetic Resonance Imaging (MRI) machines. These machines rely on the strong magnetic fields generated by superconducting magnets to produce detailed images of the human body. MRI machines make up nearly 60% of the medical application sector for superconducting wires.
Energy Sector: In the energy industry, superconducting wires can significantly enhance the efficiency of power grids by reducing electrical losses by up to 20%. This application is pivotal in modernizing grid infrastructure and supporting the integration of renewable energy sources.
Wind Power: Utilizing superconducting wires in wind turbines can reduce production costs by about 20%, primarily by enhancing the efficiency of power transmission from wind turbines to the power grid.
Scientific Research: These wires are fundamental components in high-energy particle accelerators and fusion reactors, where they are used to create high magnetic fields necessary for the acceleration and manipulation of subatomic particles.
Transportation: Superconducting wires are also used in magnetic levitation (maglev) trains, where they help to significantly reduce friction, allowing for smoother and faster train travel.
Quantum Computing: In quantum computing, superconductors help to maintain extremely low error rates below 1%, which is crucial for the reliability and efficiency of quantum computations.
Major Challenges
High Manufacturing Costs: The production of superconducting wires involves complex processes and expensive materials, particularly for high-temperature superconductors. These high costs can limit their widespread adoption and application, especially in sectors sensitive to price fluctuations.
Cryogenic Requirements: Many superconducting wires, especially those based on low and medium-temperature superconductors, require cooling to cryogenic temperatures to maintain their superconducting properties. This necessitates the use of costly cryogenic systems, which can escalate operational costs and complicate the implementation in practical applications.
Technical Complexity: The fabrication and implementation of superconducting wires involve intricate design and engineering challenges. These wires must maintain their properties under various physical conditions, making their integration into existing systems complex and often cost-prohibitive.
Market Acceptance and Reliability Concerns: Despite their advantages, there is a level of market skepticism regarding the reliability and performance consistency of superconducting technologies under real-world operating conditions. Ensuring consistent performance and building trust among potential users remain ongoing challenges.
Market Growth Opportunities
The superconducting wire market is on the cusp of significant expansion, with several growth opportunities forecasted across various applications and regions. One of the primary drivers of this growth is the increasing demand for energy-efficient technologies. High-temperature superconducting wires, for instance, are being increasingly utilized for effective energy generation and distribution, particularly in smart city infrastructure and offshore wind farms. These applications benefit from superconducting wires’ ability to reduce energy loss in electrical systems.
Another promising area is the medical sector, where superconducting wires are crucial for MRI scanners. These wires enable the generation of strong magnetic fields necessary for high-quality imaging while consuming less power. The ongoing research and development in this domain are expected to unlock further applications in medical technology, enhancing the growth prospects of the market.
Geographically, Asia-Pacific, particularly Japan and China, is anticipated to witness substantial growth due to strong manufacturing capabilities and increasing investments in infrastructure that utilizes superconducting technologies. Meanwhile, North America is expected to see significant growth driven by advancements in superconducting wire applications in medical devices, utility cables, and motors, supported by robust research and development activities.
Recent Developments
In 2023, Fujikura focused on the delivery of a rare-earth-based high-temperature superconducting tape for the world’s first fusion demonstration reactor. This marked a significant advancement in their superconducting wire capabilities, showcasing their commitment to supporting cutting-edge energy projects. Throughout the year, Fujikura also engaged in enhancing its product offerings, particularly in the development and application of yttrium-based high-temperature superconductors. These are known for their superior performance characteristics such as higher critical current and longer piece length, which are crucial for applications in energy and medical equipment.
In 2023, Furukawa Electric Co. Ltd. demonstrated significant advancements in the superconducting wire sector, particularly by supplying high-temperature superconducting (HTS) wires for Tokamak Energy’s advanced prototype fusion device, ST80-HTS. This project marked a notable collaboration, aimed at advancing commercial fusion energy, with Furukawa delivering several hundred kilometers of HTS wire for the construction of this innovative device. The development and supply of HTS wire by Furukawa Electric are crucial for enabling the high-field spherical tokamak to operate effectively, confining the fusion fuel at extreme temperatures, which is essential for the practical application of fusion energy.
Superconductor Technologies Inc. has been actively involved in the superconducting wire market, focusing on the development and commercialization of high-temperature superconducting (HTS) materials. Throughout 2023 and into 2024, the company has been instrumental in advancing superconducting wire technologies that are crucial for a range of applications, from energy systems to medical devices. Their HTS wires are particularly noted for their zero electrical resistance at low temperatures, which significantly enhances the efficiency of electricity transmission and reduces energy losses.
In 2023 and 2024, American Superconductors continued to advance in the superconducting wire sector, focusing on the production of second-generation (2G) high-temperature superconducting (HTS) wires. These wires are crucial for various applications that require high efficiency and minimal energy loss in power systems. In 2024, American Superconductor has been particularly focused on optimizing the low-cost manufacturing process for these HTS wires, enhancing their performance and affordability to meet the growing market demand in sectors like energy transmission and medical imaging systems
Conclusion
The superconducting wire market is expected to experience significant growth, driven by advancements in technology and expanding applications across various sectors. This growth is fueled by increasing demands for energy efficiency, the burgeoning renewable energy sector, and innovations in medical technologies like MRI machines which rely on superconducting wires for enhanced performance.
Discuss Your Needs With Our Analyst
Please share your requirements with more details so our analyst can check if they can solve your problem(s)
