High-Temperature Superconducting Cables Market Size, Share and Global Trend By Type (Warm Dielectric, Cryogenic Dielectric), By Material (Yttrium Barium Copper Oxide, Bismuth Strontium Calcium Copper Oxide), By End-User (Industrial, Commercial, Utility, Others) and Regional Forecast, 2024-2032

The high-temperature superconducting cables are power transmission and distribution cables used to carry large amounts of current. The high-temperature superconducting cables can carry around five times more powerful as compared to the power transmitted by conventional cables.

The high-temperature superconducting cables provide features such as meeting increasing power demands through retrofit applications, low losses, improved operating flexibility, and reduced electricity costs. The high-temperature superconducting cables use the traditionally used stranding techniques and equipment for winding the high-temperature superconducting wires around the hollow core. Then the liquid nitrogen is passed through the core to make it a superconductor.

On the basis of type, the high-temperature superconducting cable market is classified as warm dielectric and cryogenic dielectric cable. The only difference between the two types is that the cryogenic dielectric cable has high-temperature superconducting return cables which are cooled by liquid nitrogen.

Based on material, the high-temperature superconducting cables are of two types, Yttrium Barium Copper Oxide cables used in motors and generators and Bismuth Strontium Calcium Copper Oxide cables in the introduction phase high current density cables for the power lead.

Based on end-user, the high-temperature superconducting cables market is bifurcated based on the applications of high-temperature superconducting cables in commercial, industrial, and utility among other end-uses. The Utility segment is expected to hold a prominent share in the global high-temperature superconducting cables market owing to the high demand for high-temperature superconducting cables in the growing renewable industry.

The high-temperature superconducting cables are used in power transmission applications. They have a wide demand in wind energy farms. The growth in the capacity addition of the wind energy across the globe is thus forecast to boost the high-temperature superconducting cable market in the near future. The high-temperature superconducting cables offer more flexibility in the operations while reducing the operational costs as compared to the other counterparts. This is expected to add in the growth of the high-temperature superconducting cables market in the near future. The key players involved in the high-temperature superconducting cables market are focused on developing new and modified superconductor cables in order to provide more conductivity and increase the load capacities. Owing to this, the demand for the high-temperature superconducting cables is expected to remain high over the forecast period.

The cryogenic dielectric wires require refrigeration using cryogens such as liquid nitrogen which adds in the cost of the cables. This is expected to provide resistance to the growth of the high-temperature superconducting cables market in the coming years.

Key Players Covered

Some of the major companies that are present in the global high temperature superconducting cables market are Fujikura Ltd., BASF, Nexans, Furukawa Electric Co., Ltd, Superconductor Technologies Inc., TenneT, AMSC, Sumitomo Electric Industries, Ltd, Patil Group, Theva GmbH, SuperOx, Bruker, and SuNam Co., Ltd among others.

SEGMENTATION 

Regional Analysis

The global high-temperature superconducting cables market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America region was reported to have a high growth of 6.7% in the onshore wind capacity in the year 2018 as per the reports of IRENA. The region is focused on adding more renewable capacities owing to which, the high-temperature superconducting cables market is expected to gain traction in the region. The Latin America region is dominated by the installed wind capacities in Brazil. Additionally, countries such as Mexico, Chile, and Uruguay among others are the substantial markets in the region. Owing to the growth of the wind installations in the region, the high-temperature superconducting cable market is expected to grow at healthy rates in the coming years. The power generation industry in the Europe region is expanding at a considerable rate mainly driven by new renewable capacities. Local governments of Spain, Germany, France, and the U.K among others have provided subsidies in order to promote the renewable energy in Europe and have been able to generate around a quarter of the global solar power generation capacity in the year 2018. The growth of the power generation industry in the Europe region is expected to drive the sales of high-temperature superconducting cables in the near future.

Asia Pacific region is a high potential region for the sales of high-temperature superconducting cables in the coming years. The manufacturing sector in the region is growing at significant rates owing to China, South Korea, Japan, and India. Owing to the growth of the manufacturing sector, the high-temperature superconducting cables market is expected to expand in the region due to the high demand for high-temperature superconducting cables in the industrial applications. The growing solar capacity additions and increasing power generation capacity in the GCC countries and South Africa is expected to augment the growth of high-temperature superconducting cables market in the Middle East and Africa region.

Key Industry Developments

• In June 2019, a consortium of five companies has announced its plans to build a transmission line using high-temperature superconducting cables in Munich and is claimed to be the longest in the world so far.
• In June 2019, the U.S Department of Energy has announced US$ 121 million for research and development grants of small businesses. This includes a Continuously Wound High-Temperature Superconducting Cable for the Central Solenoid of the DEMO Fusion Reactor.
• In May 2016, the U.S Department of Energy has announced its plans to develop next-generation wind turbine drive train technologies in the four US$ 8 million projects chosen. The American Superconductor Corporation will provide the high-temperature superconductor cables for the projects