The Latin America, Middle East and Africa Superconducting Wire Market should witness market growth of 11.2% CAGR during the forecast period (2022-2028).
Superconducting power cable is the best choice in metropolitan locations with limited space due to their small size. For instance, the project 'Best Pathways'designed by Nexans' superconducting power cables only needs underground passageways that are one meter wide. Contrarily, traditional copper cable systems need an underground passageway 10 meters wide. In major cities, the rise in population has led to problems with electricity supply with low carbon dioxide emissions. Moreover, grid congestion has increased as a result of urbanization.
NKT created a superconducting power wire that could move a lot of power through a little space. This would reduce the need to build underground conduits. Losses in transmission would also be eliminated. As a result, there would be a reduction in carbon dioxide emissions. Hence, in the near future, it is anticipated that both a growth in the demand for electricity globally and the use of superconducting wiresin power grids will raise the demand for these cables.
Brazil's installed wind capacity dominates the region of Latin America. Moreover, the region's major marketplaces include nations like Chile and Uruguay. Therefore, the demand for high-temperature superconducting cable is anticipated to expand at healthy rates in the upcoming years due to the expansion of wind development in the region. Additionally, maritime breezes offer exciting potential for Latin America. The initial moves towards developing offshore wind power were made in Colombia and Brazil. The initial sectoral development initiatives were taken by Brazil and Colombia. Using the expertise of the offshore hydrocarbon industry is one of the keys to maximizing the service and industrial impact of the deployment of offshore wind projects on the remaining production network.
The Brazil market dominated the LAMEA Superconducting Wire Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $31.5 Million by 2028. The Argentina market is experiencing a CAGR of 11.8% during (2022-2028). Additionally, The UAE market would display a CAGR of 10.9% 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 Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
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.
Superconducting power cable is the best choice in metropolitan locations with limited space due to their small size. For instance, the project 'Best Pathways'designed by Nexans' superconducting power cables only needs underground passageways that are one meter wide. Contrarily, traditional copper cable systems need an underground passageway 10 meters wide. In major cities, the rise in population has led to problems with electricity supply with low carbon dioxide emissions. Moreover, grid congestion has increased as a result of urbanization.
NKT created a superconducting power wire that could move a lot of power through a little space. This would reduce the need to build underground conduits. Losses in transmission would also be eliminated. As a result, there would be a reduction in carbon dioxide emissions. Hence, in the near future, it is anticipated that both a growth in the demand for electricity globally and the use of superconducting wiresin power grids will raise the demand for these cables.
Brazil's installed wind capacity dominates the region of Latin America. Moreover, the region's major marketplaces include nations like Chile and Uruguay. Therefore, the demand for high-temperature superconducting cable is anticipated to expand at healthy rates in the upcoming years due to the expansion of wind development in the region. Additionally, maritime breezes offer exciting potential for Latin America. The initial moves towards developing offshore wind power were made in Colombia and Brazil. The initial sectoral development initiatives were taken by Brazil and Colombia. Using the expertise of the offshore hydrocarbon industry is one of the keys to maximizing the service and industrial impact of the deployment of offshore wind projects on the remaining production network.
The Brazil market dominated the LAMEA Superconducting Wire Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $31.5 Million by 2028. The Argentina market is experiencing a CAGR of 11.8% during (2022-2028). Additionally, The UAE market would display a CAGR of 10.9% 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 Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
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.
Scope of the Study
By Type
- Low Temperature Superconductor
- Medium Temperature Superconductor
- High Temperature Superconductor
By Sales Channel
- Direct
- Indirect
By End-user
- Medical
- Energy
- Research
- Transportation
- Others
By Country
- Brazil
- Argentina
- UAE
- Saudi Arabia
- South Africa
- Nigeria
- Rest of LAMEA
Key Market Players
List of Companies Profiled in the Report:
- 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.
- MetOx Technologies, Inc.
Unique Offerings
- Exhaustive coverage
- The highest number of market tables and figures
- Subscription-based model available
- Guaranteed best price
- Assured post sales research support with 10% customization free
Table of Contents
Chapter 1. Market Scope & Methodology
Chapter 2. Market Overview
Chapter 3. LAMEA Superconducting Wire Market by Type
Chapter 4. LAMEA Superconducting Wire Market by Sales Channel
Chapter 5. LAMEA Superconducting Wire Market by End-user
Chapter 6. LAMEA Superconducting Wire Market by Country
Chapter 7. Company Profiles
Companies Mentioned
- 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.
- MetOx Technologies, Inc.
Methodology
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About the Superconducting Wire Market
The Superconducting Wire market is a subset of the Wire and Cables industry. Superconducting Wire is a type of wire that is able to conduct electricity with zero resistance at extremely low temperatures. It is used in a variety of applications, such as medical imaging, particle accelerators, and power transmission. Superconducting Wire is made from a variety of materials, including niobium-titanium, niobium-tin, and high-temperature superconductors. The market is driven by the increasing demand for Read more
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