From 2018 to 2025, the global superconducting cable market will grow at a compound annual rate of 12.1%

Qyresearch Reports, an international market research institution, recently released a report that the global superconducting cable market value reached $210 million in 2017 and is expected to reach $520 million by the end of 2025, with a compound annual growth rate of 12.
1%
during the period.

Superconducting cables act as a bridge
between the transmission and distribution of electrical energy.
In superconducting power cables, the use of zero-resistance superconductors with ultra-low temperatures below a specific low temperature allows low-loss transmission
of large currents.

According to the report, the global installation of superconducting cables increased from 5,624 meters in 2013 to 8,295 meters in 2017, with a compound annual growth rate of 10.
2%.

In 2017, the global superconducting cable market was dominated
by the United States and Europe.
Currently, Neckers, American Superconducting Cable Company, and Furukawa Electric are the major manufacturers
in this industry.

Nexans is a global leader, with 1,327 meters installed in 2017, accounting for 16% of the global share
.
In Europe and the United States, Nexans, AMSC and STI are the market leaders
.
In the Asia-Pacific region, Furukawa Electric, SEI, and SuNam are major manufacturers
.

In 2017, the consumption of superconducting cables in power grids and smart grids was 4,881 meters, accounting for 58.
84%; It is expected to reach 11,690 meters by 2024, accounting for 58.
88%.

As a transmission medium for HVDC applications, superconducting cables can transmit almost any amount of electricity, are far more efficient than any other transmission technology, and can be installed in underground environments
.
The report predicts that in the next 10 years, superconducting power cables can provide an important power transmission solution
for densely populated, high-load areas.

There are two types of superconductors, low temperature (LTS) and high temperature (HTS).

At present, the main type of superconducting cable is the second generation YBCO cable, which will also become the mainstream
of future development.
The first generation HTS will be phased out
.
However, YBCO cables may soon be phased out by new materials and will have better costs and performance
in the future.
Therefore, the core technology of superconducting cables is superconducting materials
.

The report also notes that these unique properties of superconducting cables make them a highly attractive technology, especially in urban areas
where underground space and land availability are limited.
In these urban areas, networks often reach their capacity limits, so the case for investigating the feasibility of using HTS cables in distribution networks is even stronger
.
However, high costs are a key factor
limiting the growth of the industry.