Global
High Temperature Superconducting Fibers Market: Overview
Superconductivity,
an attribute that allows a material to show almost zero resistance to
electric current flowing through it, is becoming a much sought-after
advantage in newer materials used in various industries. Some of the
most inherent challenges associated with electric power transmission
and storage can be nullified with the use of superconducting
materials, as has been evidenced by the scientific community over the
last century.
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This
has stirred a greater degree of interest in high temperature
superconducting fibers in recent years. As emergent uses of
high-temperature superconducting fibers in industries such as
transportation, electronics, energy distribution and storage, and
healthcare come to the fore, this market is expected to register a
significant increase in size. However, the market’s growth will be
curbed to some extent as challenges related to the integration of
fiber optics with superconducting fibers still persist. Although
there have been several experiments involving the use of yttrium
barium copper oxide as the core material for superconducting fiber,
widespread commercialization has only recently begun to gather steam.
The
demand for high temperature superconducting fibers is expected to
demonstrate a healthy rate of growth thanks primarily to the many
end-use industries that are showing a heightened interest in using
this novel material. With numerous academic and commercial research
activities underway in the market, it is expected that more
superconductivity breakthroughs will occur. Over the forecast period
of the report, the adoption of high temperature superconducting
fibers could rise dramatically in sectors such as electric energy
generation, transformation and storage, and transmission.
Global
High Temperature Superconducting Fibers Market: Trends
With
an ever-increasing emphasis on energy conservation against the
backdrop of rising electricity prices and depleting fossil-fuel
reserves, high temperature superconducting fibers provide a viable
solution. Moreover, the demand for electric and electronic components
with high endurance levels has necessitated the development of power
cables that can transmit energy at high speeds and storage systems
that demonstrate unprecedented efficiency. The energy sector also has
the need for generators and transformers that can offer failsafe
performance even under demanding conditions. As the demand for
high-temperature superconductors grows in the energy and electronics
sectors, the high-temperature superconducting fibers market will also
experience growth.
Both
commercial entities in the market and academia are focusing on the
development of novel superconducting materials. Governments, on their
part, are also backing such research initiatives. While such
developments will positively impact the market, they will only do so
in the long run as research projects could take as many as two
decades to achieve commercialization.
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Global
High Temperature Superconducting Fibers Market: Regional and
Competitive Outlook
TMR
expects the Asia Pacific region to register the fastest rate of
growth in the global high-temperature superconducting fiber market
over the forecast period. This region’s growth will largely be
defined by the brisk pace of industrialization in countries such as
India, Korea, and China as well as a few other South East Asian
countries where the contract manufacturing sector is developing well.
The demand for high temperature superconductors is projected to
remain higher than that of low temperature superconducting fibers.
The
market will also remain dynamic in developed countries in North
America and Western Europe, where energy-related research activities
are receiving generous funding from governments.
The
competitive landscape of the global high temperature superconducting
fibers market is becoming progressively dynamic with companies vying
to bag new orders, especially from the energy industry. Companies
that are currently at the forefront of the global high temperature
superconducting fibers market are Hyper Tech Research, Inc., American
Superconductor Corporation, Bruker Energy & Supercon
Technologies, Inc., SuperPower, Inc., and Superconducting
Technologies, Inc.
The
report offers a comprehensive evaluation of the market. It does so
via in-depth qualitative insights, historical data, and verifiable
projections about market size. The projections featured in the report
have been derived using proven research methodologies and
assumptions. By doing so, the research report serves as a repository
of analysis and information for every facet of the market, including
but not limited to: Regional markets, technology, types, and
applications.
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