By 2024, the global superconducting cable market will reach $420 million

Superconducting power cables act as a bridge
between the transmission and distribution of electrical energy.
In superconducting cables, the use of superconductors that achieve zero resistance below a certain low temperature allows low-loss transmission
of large currents.
According to statistics, the global installation of superconducting cables increased from 5624 meters in 2013 to 8295 meters in 2017, with a compound annual growth rate of 10.
2%.

In 2017, the global superconducting cable market was led by the United States, with Europe being the second largest market
in the region.

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

As a transmission medium for HVDC applications, superconducting cables can transmit almost any amount of electricity, their efficiency is much higher than any other transmission technology, and they can move it underground without damage
.

In 2017, the consumption (sales) of superconducting cables for the grid and smart grid was 4,881 meters, and it is expected to reach 11,690 meters
by 2024.
The sales of power grids and smart grids accounted for 58.
84% of the global market share in 2017 and are expected to reach 58.
88%
by 2024.
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) superconductivity
.
At present, the main type of superconducting cable in the market is the second generation YBCO cable, which is expected to 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
.

These unique properties of superconducting cables make them an 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.

According to a new study, the global market for superconducting cables is expected to grow at a CAGR of about 12.
2% over the next five years, with its market size growing from $210 million in 2019 to $420 million
by 2024.