Superconducting Power Cables Market

Transparency Market Research (TMR) provides key insights on the superconducting power cables market in its latest report titled “Superconducting Power Cables – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 – 2026.” According to the report, rapid development of environment-friendly cables in Asia Pacific is predicted to drive the superconducting power cables market during the forecast period. Countries in Asia Pacific such as India, China, and Japan are investing significantly in the development of superconducting power cables that are environmentally-friendly and possess halogen-free insulation.

Rise in demand for green products is a major trend in the superconducting power cables market. Manufacturers of superconducting power cables are increasingly focusing on developing wires and cables with less detrimental impact on the environment. Moreover, new and environment friendly technologies are emerging in order to lower the production cost of superconducting power cables.

In terms of region, Asia Pacific leads the market with several end-users replacing their old equipment such as transmission and distribution transformers, power cables, circuit breakers, and switchgears with technically advanced transmission and distribution equipment in order to revamp their existing transmission networks. Apart from Asia Pacific, North America offers strong potential for the superconducting power cables market. The usage of superconducting power cables is expected to increase in North America., as the U.S. Government plans to refurbish infrastructure and produce eco-friendly energy distribution and transmission control systems. The North American Electric Reliability Corporation (NERC) has mandated consistency in standards for grid interconnections. Hence, various electric utility companies are investing in restoring, upgrading, and maintaining existing transmission lines. This is driving the demand for superconducting power cables.

Countries in Europe such as Germany, France, Sweden, and the U.K. are increasing their focus on infrastructure investments for the development and improvement of renewable energy projects. This is anticipated to create the need to connect renewable energy sources to the grid network, thereby augmenting the usage of superconducting power cables. The superconducting power cables market in Middle East & Africa is anticipated to expand in the near future. Countries such as Saudi Arabia, Kuwait, Bahrain, and Qatar have invested significantly in superconducting power cables for the development of infrastructure.

Prominent players operating in the electric resistors market include Nexans, Superconductor Technologies, AMSC, SuperPower, and SUNAM.

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