BCC Research forecasts that the global markets for superconductivity technologies are expected to approach nearly $4.2 billion in 2019, with a compound annual growth rate (CAGR) of 16.4% over the next five years. The superconducting electronics segment is predicted to surge at 58.8% CAGR
Superconducting magnets, particularly those used in science, research, and technology development and healthcare applications, dominate the market. The healthcare segment is presently the largest market for superconducting applications, accounting for 63% of the global market in 2013 led by the superconducting magnets used in MRI scanners.
However, superconducting electrical equipment segment (e.g., transformers, generators, motors, fault current limiters (FCLs), power storage, current leads, and cable) is expected to capture over 36% of the market by 2019. Superconducting electronics are also anticipated to gain significant market share over the next five years.
BCC Research forecasts that healthcare’s science, research, and technology share is expected to slip to just over 27% by 2019. Most of the drop in healthcare’s share is expected to be made up by computing (27% of the market in 2019) and transport (1%).
* The global market for superconductivity applications was worth nearly $1.8 billion in 2013 and is expected to approach about $2.0 billion in 2014 and nearly $4.2 billion in 2019, with a compound annual growth rate (CAGR) of 16.4% over the next five years.
* The global market for superconducting magnets was worth more than $1.7 billion in 2013 and is expected to reach $1.9 billion in 2014 and nearly $2.6 billion by 2019, a CAGR of 6.1% for the five year period, 2014-2019.
The world’s longest superconductive cable and the first to have been integrated into an urban electricity grid has celebrated six months of flawless operation, fuelling hopes of the energy industry for future lossless energy transport.
Part of the AmpaCity project, the 1km-long 10kV high-temperature ceramic-based superconductive cable was integrated into the inner city grid in Essen, Germany, replacing a ten-times thicker 110kV copper cable.
This was a modest increase in length from a 700 meter long South Korean superconducting cable that was set up in 2009-2010.
Nexans’ existing technology was used in the AmpaCity project which enabled the project’s €13.5m budget to be kept tightly under control.
“The technology is basically ready for the market,” Schmidt said. “In the future, we would like to install longer cables, up to 3km long, and continue with tests in the city environment, which we believe could benefit the most from the technology.”
He said using superconductors for long-distance energy transport may not be cost-effective in this stage of development, as multiple cooling stations would have to be installed along the way, inflating the overall price.
Brian Wang is a Futurist Thought Leader and a popular Science blogger with 1 million readers per month. His blog Nextbigfuture.com is ranked #1 Science News Blog. It covers many disruptive technology and trends including Space, Robotics, Artificial Intelligence, Medicine, Anti-aging Biotechnology, and Nanotechnology.
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