Superconducting Wire Market Forecast 2024–2031: Enhancing Efficiency in Power and Magnet Systems

The global superconducting wire market size was valued at USD 1,309.3 million in 2023 and is projected to grow from USD 1,412.2 million in 2024 to USD 2,581.7 million by 2031, exhibiting a CAGR of 9.00% during the forecast period.

Market Overview

Superconducting wires enable zero‑resistance conduction below critical temperatures, delivering extremely high current densities and magnetic fields with sharply reduced energy losses. Historically led by low‑temperature superconductors (LTS) such as NbTi and Nb3Sn for medical and research magnets, the market is increasingly shaped by high‑temperature superconductors (HTS)—notably REBCO/YBCO coated conductors and Bi‑based tapes—owing to higher operating temperatures (liquid nitrogen range), superior field performance, and system‑level cost benefits.

Highlights at a Glance (Kings Research):

Transition from LTS to HTS in next‑gen power devices (HV cables, FCLs, rotating machines) and compact high‑field magnets.
Healthcare remains the largest end‑use via MRI/NMR magnet demand; energy & utilities emerge fastest with grid pilots scaling.
Asia Pacific leads in manufacturing capacity and new energy projects; North America & Europe drive R&D and premium HTS adoption.
Fusion energy programs (tokamak/stellerator & private compact fusion) constitute a pivotal multi‑year demand catalyst for high‑field HTS conductors.

Key Growth Drivers

Healthcare Magnet Demand: Global MRI and NMR installations require reliable LTS (NbTi) and increasingly HTS inserts for higher field strengths and lower lifetime OPEX.
Grid Modernization: Utilities deploy HTS cables and FCLs to increase capacity in constrained corridors, reduce I²R losses, and improve fault tolerance, supporting urban densification and renewable integration.
Fusion & High‑Field Research: Large tokamaks, next‑gen stellarators, and compact fusion startups rely on REBCO for >20 T magnets, creating sizable multi‑year procurement of tapes and round wires.
Electrification & Efficiency: Superconducting rotating machines (generators, motors) promise high power density, enabling aerospace, naval, and industrial electrification.
Cryogenics Advances: Progress in cryocoolers reduces system complexity and TCO, enabling broader HTS adoption beyond helium‑dependent systems.
Public Funding & Consortia: Government programs and cross‑industry collaborations de‑risk pilots and scale production capacity.

Unlock Key Growth Opportunities: https://www.kingsresearch.com/superconducting-wire-market-1751

List of Key Companies in Superconducting Wire Market:

SuNam Co.,Ltd
Cutting Edge Superconductors, Inc.
Bruker
Hyper Tech Research, Inc.
Hitachi, Ltd.
American Superconductor
THEVA Dünnschichttechnik GmbH
Kiswire Advanced Technology Co., Ltd.
Mitsubishi Materials
Furukawa Electric Co., Ltd.
JEOL GROUP
Fujikura Ltd.
SuperOx
MetOx International
Sumitomo Electric Industries, Ltd.

Market Trends

HTS Commercialization: Rapid performance gains and cost curves for REBCO coated conductors—higher critical current (Ic), improved uniformity, and longer lengths—support high‑field magnets and utility pilots.
Hybrid Magnet Architectures: Combining LTS outserts with HTS inserts to reach 30–40+ T fields in compact footprints for research and potential advanced semiconductor and materials applications.
Round‑Wire HTS Development: Bi‑2212 round wire enables isotropic, Rutherford‑type cabling, attractive for accelerator magnets.
Manufacturing Automation: Wider deposition widths, reduced defectivity, and AI‑enabled in‑line QC elevate yield and throughput.
Sustainability Lens: Lower transmission losses and reduced copper use contribute to decarbonization targets; lifecycle analyses gain prominence in procurement.
Strategic Partnerships: Wire makers, magnet OEMs, cryogenic vendors, and utilities form end‑to‑end ecosystems to accelerate productization.

Demand Analysis

Installed Base Replacement: MRI fleet refresh cycles and upgrades to higher field strengths sustain predictable LTS demand.
New Build Momentum: Growth in advanced research facilities, national labs, and private fusion programs injects large, lumpy orders of HTS tapes.
Grid Pilots to Scale: Demonstration successes in dense urban corridors convert to multi‑kilometer orders; FCLs gain traction in fault‑prone grids.
Emerging Applications: Maglev, SMES, quantum computing infrastructure (dilution fridges, control magnets), and high‑power propulsion open incremental demand verticals.

Buyer Priorities (from Kings Research client interviews):

Critical current performance (Ic) at target field & temperature
Mechanical robustness (bending strain tolerance, delamination resistance)
Uniformity & length (km‑scale spools, low splice counts)
Price trajectory & supply assurance (multi‑year contracts)
Integration support (quench protection, cryogenics, cabling)

Market Dynamics

Drivers

Rising MRI/NMR installations and high‑field research initiatives
Grid efficiency, urban capacity constraints, and renewable integration
Fusion energy funding and private capital inflows
Advances in cryogenic efficiency and reliability

Restraints

High initial costs of HTS conductors and cryogenics
Manufacturing yield variability and quality control needs
Limited standardization across applications and qualification cycles

Opportunities

Local manufacturing incentives (APAC, North America, EU)
Long‑length, high‑uniformity REBCO and Bi‑2212 breakthroughs
Superconducting motors/generators for aerospace & naval electrification
Grid‑scale FCLs and HVDC‑compatible HTS cables

Challenges

Helium supply volatility for LTS systems
Thermal stability, quench detection, and protection architectures
Workforce skills for cryogenics and superconducting integration

Segmentation Analysis (2024–2031)

By Type

LTS (Low‑Temperature Superconductors): NbTi, Nb3Sn—dominant in MRI/NMR and legacy accelerator magnets.
HTS (High‑Temperature Superconductors): REBCO/YBCO coated conductors, Bi‑2212/2223—fastest growth in power devices and high‑field magnets.

By Material / Conductor Form

NbTi (LTS): Mature, cost‑efficient for 1.5–3 T MRI and research magnets.
Nb3Sn (LTS): Higher fields (8–16 T) for accelerators and research.
REBCO/YBCO (HTS): Coated conductor tapes for ultra‑high fields, utility devices, and compact systems.
Bi‑2212 Round Wire (HTS): Isotropic, cabling‑friendly for accelerators and NMR.
Bi‑2223 (HTS): Tape conductors, legacy in power demo projects.

By End Use / Application

Medical: MRI, NMR, high‑field systems
Research & Academia: High‑field magnets, accelerator magnets
Energy & Utilities: HTS cables, FCLs, SMES, grid components
Industrial & Transportation: Superconducting motors/generators, maglev
Emerging: Quantum infrastructure, specialized sensing

By Form Factor

Tape / Coated Conductor (CC)
Round Wire
Multifilamentary Strand
Cables / Roebel / Conductor‑on‑Round‑Core (CORC®)

By Temperature & Cooling

LHe (4.2 K) for LTS
Sub‑30 K cryocoolers and LN₂ (77 K) class for HTS

By Region

North America: R&D leadership, fusion startups, utility pilots.
Europe: Accelerator programs, grid modernization, sustainability mandates.
Asia Pacific: Manufacturing hubs (Japan, China, South Korea), expanding medical infrastructure, large grid pilots.
Latin America: Early‑stage adoption, MRI expansion in private hospitals.
Middle East & Africa: Niche pilots, research collaborations, healthcare investments.

Regional Analysis

North America

Strong pipeline in fusion and high‑field magnets; government grants and private capital create consistent demand for REBCO and Bi‑2212.
Utilities in dense metros assess HTS cables to defer substation upgrades; MRI fleet upgrades continue across hospital networks.

Europe

Accelerator programs and national labs support LTS + HTS hybrid demand.
Grid decarbonization and congestion relief favor FCL deployments; standardized qualification frameworks accelerate procurement.
Medical systems replacement cycles underpin stable LTS consumption.

Asia Pacific

Manufacturing scale in Japan, China, and South Korea spans REBCO tapes, Bi‑2223, and Nb‑based LTS.
Urbanization and power‑quality needs catalyze cable and FCL pilots; healthcare capacity additions drive MRI demand.
Regional governments back strategic materials sovereignty, supporting capacity expansions.

Latin America

Focus on healthcare expansion and selective utility pilots in high‑load corridors.
Adoption paced by financing models and vendor integration support.

Middle East & Africa