Global Superconducting Wire Market Size, Share, Opportunities, And Trends By Type (Low-Temperature Superconducting Wires, Medium-Temperature Superconducting Wires, High-Temperature Superconducting Wires), By Application (Electronics, Energy, Scientific And Medical Equipment, Automotive, Others), And By Geography - Forecasts From 2025 To 2030

Superconducting Wire Market Size:

The global superconducting wire market is estimated at US$1,797.046 million in 2025 and is anticipated to grow at a CAGR of 9.26% during the forecast period and reach US$2,798.622 million in 2030.

Superconducting wires are electrical wires made up of superconductive material. They have zero electrical resistance at temperatures below their transition temperatures. Wires like these come with a very wide range of applications in different fields, including NMR and MRI magnets, high-field magnets for test equipment, nuclear fusion devices, and accelerators.

The increasing efficiency and improved transmission capabilities provided by the latest superconducting materials are driving market growth.

In addition, the increased healthcare spending and flourishing healthcare industry will strengthen the market growth of the superconducting wires. For instance, according to the U.S. Centers for Medicare & Medicaid Services (CMS), the National Healthcare spending grew by 4.1% and reached to US$4.5 billion in 2022.

According to the CMS’s 2023-2032 National Healthcare Expenditure Projection, healthcare spending is anticipated to grow from 17.3% of the GDP in 2022 to 19.7% of the GDP in 2032. Additionally, the NHE is projected to increase by 5.6% over 2023-2032. Hence, the growing healthcare sector is anticipated to propel the market for superconducting wire in the projected period

What are the Superconducting Wire Market drivers?

• There are many applications of superconducting wires, particularly in the booming automotive industry, where superconducting coils provide great magnetic flux density and deliver much more torque than ordinary motors. For instance, according to the International Organization of Motor Vehicle Manufacturers, the number of vehicles manufactured in 2022 was 6,15,98,650 by all major countries combined, which increased by 10%, reaching 6,71,33,570 in 2023. The increasing demand for passenger cars and the growing automotive sector is anticipated to positively impact the superconducting wire market in the projected period.  Further, the rising demand from the electronics industry nationwide will bolster the market growth as these wires are widely used for offshore oil and gas platforms, electrical ships, electrical aircraft, or railway grids.
• The constant developments in the energy industry, such as the development of smart cities worldwide and the strict energy-efficiency standards imposed by the governing bodies, will further proliferate the market growth. For instance, according to the India Brand Equity Foundation (IBEF), the total allocated investment for Smart Cities Mission in India stood at INR 7,20,000 crore (US$ 86.43 billion) as of February 2024. Additionally, of the total projects, 7,742 have been tendered, work orders have been issued for 2,740 projects, and 5,002 projects have been completed as of February 2024. Hence, smart city projects are gaining popularity in many developing countries, which is anticipated to fuel the market for superconducting wires in the forecasted period.
• Continuous investment in research and development for superconducting wires to enhance their performance and to have optimal output from the wire is anticipated to be one of its major market drivers. Additionally, constant research and development for improving the quality of superconducting wires is expected to boost market growth in the projected period. For instance, in August 2024, the University at Buffalo launched the world’s highest-performing superconducting wire segment fabricated at the University. In a study published in Nature Communication, the researchers reported that they have fabricated the world’s highest-performing HTS (high-temperature superconducting wire) wire segment, making the price-performance metric significantly more favorable.
• The increasing use of superconductive wire instead of conventional wire is expected to fuel the market growth in the projected period. Using these wires helps increase efficiency, improve power transmission capabilities, and reduce energy losses, making it a better choice for infrastructure development.
• Moreover, as these wires can carry higher current without resistance, they are ideal for application in high-technology sectors such as quantum computing and particle accelerators, further propelling the market growth in the forecasted period. The increasing research on the quantum computing sector is anticipated to provide booming opportunities for superconducting wires in the coming years.

For instance, the U.S. Department of Defense Advanced Research Projects Agency (DARPA), in July 2024, announced that it is starting a new effort to examine industrial quantum computing. The Quantum Benchmarking Initiative (QBI) will benchmark quantum computing algorithms and applications and significantly expand efforts to validate quantum computing hardware progress. This project aims to see if it is possible to build an industrially useful quantum computer much faster than conventional predictions. Hence, the rising end-use application of superconducting wires is expected to bolster the market growth.

Segment analysis of the Superconducting Wire Market:

• By type, the high-temperature superconducting wires segment is expected to hold a significant share of the global superconducting wires market.

By type, the high-temperature superconducting (HTS) wires are expected to hold the lion’s share in the market in the coming years. This is because HTS is used for superconducting at high temperatures and is often used for making electrical conductors. Additionally, the low-temperature superconducting wires are anticipated to grow at the fastest pace due to the increased use of these wires in MRI machines, and these wires are expected to be applied to various other medical devices.  

• The North American region is anticipated to hold a significant share in the coming years.

North American region will account for the highest market share due to the early adoption of superconducting wires across industries and the extensive research and development related to superconductors. The increasing investment in nuclear-fusion-based research will also impact the North American superconducting wire in the projected period.

The Asia Pacific region will also grow at a high CAGR owing to its flourishing healthcare, automotive, and electronics industries.

Key developments in the Superconducting Wire Market:

• In December 2023, MetOx International, Inc., headquartered in Houston, the United States, launched its accelerating scale-up of Xeus, producing its high superconducting wire. The increased production capacity aims at catering industries such as advanced medical devices, advanced transmitting, and energy distribution.   

Superconducting Wire Market Scope:

The superconducting wire market is analyzed into the following segments:

• By Type
  • Low-temperature superconducting wires
  • Medium-temperature superconducting wires
  • High-temperature superconducting wires
• By Application
  • Electronics
  • Energy
  • Scientific and Medical equipment
  • Automotive
  • Others
• By Geography:
  • North America
    • USA
    • Canada
    • Mexico
  • South America
    • Brazil
    • Argentina
    • Others
  • Europe
    • UK
    • Germany
    • France
    • Italy
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • Israel
    • Others
  • Asia Pacific
    • Japan
    • China
    • India
    • South Korea
    • Indonesia
    • Thailand
    • Others

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