Superconducting Magnetic Energy Storage (SMES) systems store energy in the magnetic field created by the flow of direct current in a superconducting coil which has been cryogenically cooled to a temperature below its superconducting critical temperature.
The rising concerns regarding climate change are creating a burgeoning demand for green and eco-friendly storage solutions, which in turn is fuelling the demand for SMES systems. In addition, the increasing consumption of renewable sources for energy generation coupled with the depleting fossil fuels is working in favor of the growth of the market. The growing adoption of distributed energy solutions is also providing a fillip to the market.
Moreover, the burgeoning demand for advanced and cost-effective energy storage technologies for on-grid and off-grid applications and in the utility industry is augmenting the global SMES market. Furthermore, the advancements in superconducting materials are influencing the market positively. On the other hand, the participants in the market are threatened by the presence of substitutes such as compressed air energy storage. This is hampering the growth of the market. The high cost of these systems is also limiting their widespread adoption.
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The global Superconducting Magnetic Energy Storage (SMES) market was valued at xx million US$ in 2018 and will reach xx million US$ by the end of 2025, growing at a CAGR of xx% during 2019-2025. This report focuses on Superconducting Magnetic Energy Storage (SMES) volume and value at global level, regional level and company level. From a global perspective, this report represents overall Superconducting Magnetic Energy Storage (SMES) market size by analyzing historical data and future prospect.
Regionally, this report categorizes the production, apparent consumption, export and import of Superconducting Magnetic Energy Storage (SMES) in North America, Europe, China, Japan, Southeast Asia and India. For each manufacturer covered, this report analyzes their Superconducting Magnetic Energy Storage (SMES) manufacturing sites, capacity, production, ex-factory price, revenue and market share in global market.
The following manufacturers are covered:
- Super Power
- Hyper Tech Research
- Southwire Company
- Superconductor Technologies
Segment by Regions
- North America
- Southeast Asia
Segment by Type
- Low Temperature SMES
- High Temperature SMES
Segment by Application
- Power System
- Industrial Use
- Research Institution
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