The Superconducting Power Lines Market deals with the development of infrastructure which enables the transmission of power at extremely high capacities. Superconducting power lines set themselves apart from the standard power cables by limiting the energy loss to a bare minimum of 5%.
While the cost of superconducting cable currently remains pretty high, several advances have been made to achieve power transmission across vast distances like 3000 miles. Despite the high cost involved while putting this infrastructure in place, the energy savings and the vast distances involved are beginning to change the minds of, both, private and public power industry players. Hence, the Superconducting Power Lines Market is just getting ready to enter a phase of hectic activity during the forecast period.
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Scope & Regional Forecast of the Superconducting Power Lines Market
The usage of superconducting wire has several other benefits. Not only is the environmental impact minimal, but power transmission is far more sustainable over the long-term with the help of superconducting wires and cables. As awareness regarding the advantages provided by superconducting power cables keeps spreading, climate change and the increased reliance on renewable energy has improved the future growth prospects of the Superconducting Power Lines Market.
Renewable energy sources like solar and wind farms depend on ideal weather conditions for generating higher levels of energy. In some cases, such ideal conditions can only be tapped in remote areas. This is even more relevant in the case of wind energy. Hence, superconducting materials are crucial for enabling high-capacity transmission of clean energy from remote areas at enhanced efficiency levels. The Superconducting Power Lines Market has also been boosted by the rapidly changing energy landscape in developed regions like Europe.
The percentage of total energy derived from renewable sources is steadily rising. Solar and wind energy contribute close to half of the total production of electricity in any given year. Hence, initiatives like the AmpaCity Project, being undertaken in Essen, are being aggressively pursued with the aim of completely eliminating power transmission losses and in turn save billions of dollars. The Superconducting Power Lines Market is also expected to eventually play a massive role in overhauling the energy infrastructure of major countries like China and India.
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Segmentations & Key Players Involved in the Superconducting Power Lines Market
According to IndustryARC findings, the Superconducting Power Lines Market can be broken down into various segmentations on the basis of –
Voltage: LV, MV and HV.
Location: Overhead and Underground.
Geography: Americas, Europe, Asia-Pacific and Rest of the World.
Some of the key players involved in the Superconducting Power Lines Market according to IndustryARC are as follows:
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