About Superconducting Magnetic Energy Storage Systems
Superconducting Magnetic Energy Storage (SMES) is a system that stores power in the form of the magnetic field that is generated by the flowing current in the superconducting coil. A SMES system consists of the following three parts power conditioning system, a cryogenically cooled refrigerator, and a superconducting coil. The magnetic energy is stored after the superconducting coil is charged. The coil is then discharged to release the energy back to the network. The benefit of using SMES is the short time delay during discharge and charge. The other benefit is less loss of power in comparison to other energy storage methods. This is because electric currents meet almost zero resistance. The factors affecting the growth of the SMES are the superconductor material and the manufacturing cost of the system. SMEs can position themselves for sustainable growth and success in the future. The specific strategies chosen should be tailored to the unique needs and circumstances of each individual business.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
The market analysis includes a dedicated section specifically focused on major players in the Global Superconducting Magnetic Energy Storage (SMES) Systems Market wherein our expert analysts offer insights into the financial statements of major players, incorporating key developments, product benchmarking, and SWOT analysis. The company profile segment encompasses a business overview and financial details. The selection of companies presented here can be tailored to meet the specific requirements of the client. Analyst at AMA Research estimates that Global Manufacturers will contribute the maximum growth to Global Superconducting Magnetic Energy Storage Systems market throughout the forecasted period. Established and emerging Manufacturers should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
American Superconductor (United States), Fujikura Ltd. (Japan), Luvata (United Kingdom), Hyper Tech Research, Inc. (United States), SuNam Co., Ltd. (South Korea), Nexans (France), Sumitomo Electric Industries, Ltd. (Japan), ABB Ltd. (Switzerland), Babcock Noell (Germany) and Bruker (United States) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research coverage are SuperPower (United States), Sumitomo Electric Industries, Ltd. (Japan), Southwire Company LLC (United States), ASG Superconductors S.P.A. (Italy) and General Electric (United States).
Segmentation Overview
AMA Research has segmented the market of Global Superconducting Magnetic Energy Storage Systems market by Type (Low Temperature SMES and High Temperature SMES), Application (Power System, Industrial Use, Research Institution and Others) and Region.
On the basis of geography, the market of Superconducting Magnetic Energy Storage Systems has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
Influencing Trend:
Development of new, high-temperature superconducting materials
Market Growth Drivers:
Increasing Demand for Continuous Power Supply and Rising Efforts for Grid Modernization
Challenges:
Limited Energy Storage Capacity
Restraints:
High Capital Cost
Opportunities:
Rising adoption of Electrical Vehicles and Increasing adoption of renewable energy sources like solar and wind power
Key Target Audience
Market Research & Consultancy Firm, Potential Investors, Research & Development Institutes, Government & Regulatory Bodies and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.