Superconducting Magnetic Energy Storage (SMES) Market: By Application (Low-energy storage, High energy storage); By Conductor Type (High temperature, Low Temperature) & By End-user (Automotive, Industrial, Others) & Geography - Forecast(2018 - 2023)

Report Code : ESR 0287 Format Type: PDF+ Excel Database

Every industry is dependent on power in order to perform all operations. Effective execution of these operations will require a constant supply of power with as minimal down time as possible. In this reference, Superconducting Magnetic Energy Storage (SMES) Markets are able to provide reliable power with specific requirements. The system is able to store electrical energy as a magnetic field in a coil of wire and transform the same back into electrical energy when required. The energy stored as a magnetic field will not experience any loss and can easily be converted. Large amounts of energy can be transformed in this manner. The superconducting magnetic energy storage system is comprised of motionless parts which effectively means that there is no or very minimal wear and tear in the storage device. The life cycle of the device is long and hence can be used for years together. With the superconducting wires present in the device, low energy can be stored which will not affect the coils in the device. The only challenge, which the market faces now, is the high cost of the individual components, which does not make the system feasible across all applications. Till there is a high uptake of the technology, the price of the components will not be coming down any time soon during the forecast period.

In terms of regional contribution, the APAC region will continue to contribute the highest to the region till well beyond the forecast period. The current vendors operating in the market will be investing in the APAC region as the number of manufacturing industries is high in the region and is creating the demand for Superconducting Magnetic Energy Storage (SMES) Markets globally.

Companies operating in this market are looking at increasing investments in R&D to look at more innovative means of manufacturing these systems with components which are relatively less expensive but as effective as the current materials and will continue to do so during the forecast period.

Superconducting Magnetic Energy Storage (SMES) Market

The Superconducting Magnetic Energy Storage (SMES) Market can be segmented as
  • on the basis of application
    • Low-energy storage and High energy storage     
  • In terms of conductor type
    • High temperature and Low Temperature   
  • In terms of end-user
    • Automotive, Healthcare, Industrial, Telecom and Defense     
  • By Geography
    • North America, South America, APAC, Europe, Middle East and Africa

Following are just a few of the companies that are operating in the Superconducting Magnetic Energy Storage (SMES) Market.
  • ABB
  • ASG Superconductors
  • Babcock Noell GmbH
  • Bruker Energy & Supercon Technologies
  • Columbus Superconductors
  • GE.

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