The Asia Pacific Superconducting Wire Market would witness market growth of 9.5% CAGR during the forecast period (2022-2028).
A popular option for medium-temperature superconducting wire (MTS) is magnesium diboride. The material is created by melting boron and magnesium powders at the same temperature that magnesium melts, then shaping and polishing the wires. It is possible to create flexible ribbon cables, wires, and tapes, using magnesium diboride.
The substitute for commonly available commercial superconducting materials is MgB2. It can handle high-temperature applications, including those with a 40 K transition temperature. MgB2 is simple to create and deal with, it is also inexpensive and makes assemblies simpler by doing away with the requirement for cryogens. For tasks requiring high temperatures for the operation of between 15K and 30K, MgB2 is frequently used.
Materials that function at 4 K or lower are classed as low-temperature materials. For example, niobium titanium or niobium-tin are frequently used to produce low-temperature superconducting wires. Although the manufacture of the wire is inexpensive, assemblies made using LTS wire require significant cryogenic cooling components due to the low temperature of transition it requires.
The Asia Pacific region will significantly impact the selling of high-temperature superconducting cables. China, Japan, South Korea, and India are all contributing significantly to the region's manufacturing sector's rapid growth. As a result, the demand for high-temperature superconducting wires is anticipated to increase in the region due to the expansion of the manufacturing sector and the increasing demand for such cables in industrial applications. A new, independently developed superconducting wire created by the China Southern Power Grid (CSG), a state-owned agency, for high-capacity electric transmission to a Shenzhen business district is gaining prominence. This supports the growth of the regional market.
The China market dominated the Asia Pacific Superconducting Wire Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $138.7 Million by 2028. The Japan market is estimated to grow a CAGR of 8.9% during (2022 - 2028). Additionally, The India market would experience a CAGR of 10.2% during (2022 - 2028).
Based on Type, the market is segmented into Low Temperature Superconductor, Medium Temperature Superconductor and High Temperature Superconductor. Based on Sales Channel, the market is segmented into Direct and Indirect. Based on End User, the market is segmented into Medical, Energy, Research, Transportation, and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Superconducting Wire Market is Projected to reach USD 1.6 Billion by 2028, at a CAGR of 9.1%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Bruker Corporation, Furukawa Electric Co., Ltd., Fujikura Ltd., Eaton Corporation PLC, FUJI ELECTRIC CO., LTD., Phoenix Contact GmbH & Co. KG, Sumitomo Electric Industries, Ltd., Nexans SA, LS Cable & System Ltd., and MetOx Technologies, Inc.
By Type
By Sales Channel
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