Superconducting Electric Motor Market to Expand at 5.88% CAGR till 2031| Growth Market Reports

PUNE, India, June 12, 2023 /PRNewswire/ — According to a recent market study published by Growth Market Reports, titled, “Global Superconducting Electric Motor Segments – by Type (Disc Type and Fold-In Type), Application (Automobile, Information & Communication, Electronics, Energy And Environment, Industrial Materials, Marine, And Others), and Region: Size, Share, Trends and Opportunity Analysis, 2023-2031“, the market size was USD 235.45 million in 2022 and is expected to surpass USD 393.75 million expanding at a CAGR of 5.88% by the end of 2031. Rising applications of superconducting materials in various electrical machines are propelling the market.

Recent Developments

  • In April 2023, one of the major market players, American Superconductor announced that it has entered into a delivery contract worth approximately USD 8 million with Textron Systems for a pre-production High-Temperature Superconductor (HTS) Magnetic Influence Mine Countermeasure Payload System for U.S. Navy.

Key Market Players Profiled in the Report

  • Iveco GmbH
  • American Superconductor
  • Kawasaki Heavy Industries, Ltd.
  • TOSHIBA CORPORATION
  • Oswald Elektromotoren GmbH
  • Siemens

Download PDF Sample here: https://growthmarketreports.com/request-sample/5214

The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments, including type, application, and competitor analysis.

This report also includes a complete analysis of industry players and covers their latest developments, product portfolio, pricing, mergers, acquisitions, and collaborations. Moreover, it provides crucial strategies that are helping market players to expand their market share.

For Any Questions on This Report: https://growthmarketreports.com/enquiry-before-buying/5214

Segment Highlight

On the basis of region, the global superconducting electric motor market is classified as North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. The market in Asia Pacific is expected to dominate throughout the assessment period. The rapidly expanding industrialization in the region is one of the major factors supporting the growth.

Several industries, for increasing efficiency and quality of production are replacing conventional motors with superconducting electric motors. The key industries include automotive, aerospace, information & communications, Electronics, and Marine, among others. This is expected to support the integration of advanced machines in different industrial applications.

To Buy the Complete Report: https://growthmarketreports.com/report/superconducting-electric-motor-market-global-industry-analysis

Key Takeaways from the Study:

  • Superconducting electric motors are AC synchronous machines that utilize high temperature (HTS) winding replacing conventional copper coils. The HTS wires are capable of carrying higher currents that copper wire, owing to which it generates more powerful magnetic fields within a given volume space.
  • Superconducting electric motors are manufactured by using different superconducting materials including copper, yttrium, ceramic, barium, and oxygen.
  • The superconducting motors are compact in size but produce higher power output. With advances in coil design, these motors can match equal power output to equally rated conventional motors, within one-third of the size and volume.
  • The manufacturing cost for superconducting motors is lower than conventional motors owing to their smaller size and compact nature. In addition, superconducting motors can reduce power losses caused by conventional motors.
  • The rising usage of superconducting motors in modern electrical machines is one of the major driving factors of the market. This can increase the energy efficiency and minimize power loss.
  • Growing demand for electric vehicles (EVs) is another key driver of the superconducting electric motor market. The superconducting motors used in EVs help the product to be highly energy efficient and reduce CO2 emissions as well, among many other benefits.
  • The expanding applications of superconducting electric motors in the marine industry for the manufacture of commercial vessels and warships are expected to create considerable growth opportunities for the market players.
  • On the basis of type, the superconducting electric motor market is divided into Disc Type and Fold-In Type. The Disc Type segment is expected to hold the key share of the market during the assessment period as it reduces the dimensions of devices, increases compactness, and improves machine performance as compared to conventional motors.
  • In terms of application, the market is segmented into automobile, information & communication, electronics, energy and environment, industrial materials, marine, and others. The electronics segment is projected to expand at the fastest growth rate during the forecast period as HTS are commonly utilized in DC applications such as slow-cycling magnets or winding of DC electric motors.

Read 183 Pages Research Report with Detailed TOC on “Global Superconducting Electric Motor Segments – by Type (Disc Type and Fold-In Type), Application (Automobile, Information & Communication, Electronics, Energy and Environment, Industrial Materials, Marine, And Others), and Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) – Global Industry Analysis, Growth, Share, Size, Trends, and Forecast, 2023 – 2031″

Get Full Access to this Report: https://growthmarketreports.com/checkout/5214

Key Segments Covered

Type

  • Disc Type
  • Fold-In Type

Application

  • Automobile
  • Information & Communication
  • Electronics
  • Energy And Environment
  • Industrial Materials
  • Marine
  • Others

Region

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

Other Related Reports:

  • Electric Motors for Electric Vehicle Market Segments – Segments – by Applications (Commercial Vehicles and Passenger Cars), Vehicle Types (Battery/Pure Electric Vehicle (PEV), Plug-in Hybrid Electric Vehicles (PHEV), and Hybrid Electric Vehicles (HEV)), Motor Types (AC Motors and DC Motors), and Regions (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) – Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2021 – 2028
  • Global Superconducting Cables Market by Type (YBCO Cables, Bi-2212 Cables, Bi2223 Cables, Others), By Application (Grid and Smart Grid, Industrial Applications, Others), And By Region (North America, Latin America, Europe, Asia Pacific, and Middle East & Africa), Forecast From 2022 To 2030
  • Global High Temperature Superconducting Fibers Market by Type (1G HTS, 2G HTS), By Application (Healthcare, R&D, Electronics) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast To 2028
  • Global Superconductor Market by Type (LTS, HTS), By Application (MRI, NMR, Electrical Equipment, Others) And by Region (North America, Latin America, Europe, Asia Pacific, and Middle East & Africa), Forecast From 2022 To 2030

About Growth Market Reports:

Growth Market Reports provides global enterprises as well as small & medium businesses with unmatched quality of “Market Research Reports” and “Industry Intelligence Solutions”. Growth Market Reports has a targeted view to provide business insights and consulting to assist its clients in making strategic business decisions and achieving sustainable growth in their respective market domains.

Our key analysis segments, though not restricted to the same, include market entry strategies, market size estimations, market trend analysis, market opportunity analysis, market threat analysis, market growth/fall forecasting, primary interviews, and secondary research & consumer surveys.

Contact:
Alex Mathews 

7th Floor, Siddh Icon,

Baner Road, Pune.

Maharashtra – 411045. India.

Phone: +1 909 414 1393

Email: [email protected]

Web: https://growthmarketreports.com/

Twitter: https://twitter.com/growth_reports

LinkedIn: https://www.linkedin.com/company/growth-market-report/

Logo: https://mma.prnewswire.com/media/1980656/Growth_Market_Reports_Logo1.jpg

SOURCE Growth Market Reports


Go to Source