Superconducting Wire Market

Major Strategies Adopted by the Players include Contracts & Agreements, New Product & Technology Launch, Expansion, and Mergers & Acquisitions. Contracts & Agreements in Superconducting Wire Market

The global superconducting wire is projected to grow at a CAGR of 9.6% from 2016 to 2021. Europe is estimated to be the largest market, followed by North America. This trend is expected to continue till 2021. The growth of the superconducting wire is driven by growing demand for superconductor based MRI systems and advancement in computer chip design technology. Synergies of high voltage transmission application and high efficiencies will increase the demand for superconductor cables and other auxiliary electrical equipment based on superconductor technology.

The superconducting wire is dominated by a few global players. Key players operating in the market are American Superconductor Corporation (U.S.), Bruker Corporation (U.S.), Furukawa Electric Co., Ltd. (Japan), Fujikura Ltd. (Japan), and Superconductor Technologies Inc. (U.S.).

Major strategies adopted by the players include contracts & agreements, new product & technology launch, expansion, and mergers & acquisitions. Contracts & agreements was the most commonly adopted strategy from 2013 to 2016. Industry players also adopted new product & technology development, which was the second most widely followed strategy, during the same period.

American Superconductor Corporation (AMSC) is a provider of wind power technology and power grid technology solutions. The company operates its business through two segments: wind and grid. It operates its grid segment through its Gridtec Solutions brand, which enables the electric utilities and renewable energy project developers to connect, transmit, and distribute power with efficiency, reliability, and affordability. The company also participates in sales of ship protection products to the US Navy. High-temperature superconductor (HTS) wire and superconducting devices are offered in this segment. The company operates in Asia-Pacific, Europe, and North America through its 20 incorporated subsidiaries which include AMSC Australia Pty Ltd, AMSC India Private Limited, AMSC Austria GmbH, AMSC United Kingdom Limited, ASC Devens LLC, ASC Securities, Superconductivity, Inc., and American Superconductor Korea Co., Ltd to name a few. In August 2016, American Superconductor Corporation (AMSC) and Nexans S.A. (France) went into Joint Marketing and Sales Agreement for AMSCs Resilient Electric Grid (REG) system, as well as other high-performance superconductor power cables, to address the U.S. and Canadian markets. As part of the agreement, AMSC and Nexans collaborated to jointly develop and deliver these projects with existing and potential electric utility customers in the U.S. and Canada.

Superconductor Technologies, Inc. (STI) develops and commercializes high-temperature superconductor materials. It develops and commercializes high-temperature superconductor materials and related technologies. In addition, it is involved in developing superconducting wires such as Conductus, which enables device manufacturers to reduce the number of wires necessary per device. Its Conductus wire product development is focused on markets where HTS wire are recognized by the industry. Its initial product roadmap targets approximately three applications: superconducting transmission cable, superconducting fault current limiters (SFCL), and magnets.

Related Reports:

Superconducting Wire Market by Type (High Temperature Superconductors (First Generation and Second Generation), Low and Medium Temperature Superconductors), Application (Energy, Medical, Industry, Research), and Region - Global Forecast to 2021

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Superconducting Wire Market Size,  Share & Growth Report
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