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Global Superconducting Magnetic Energy Storage Systems (SMES) Market 2008-2012
Infiniti Research Limited, June 2009, Pages: 11
According to Technavio, the global SMES market is expected to reach $214.5 million by 2012, from $115.3 million in 2008.
“Energy arbitrage and environmental concerns are compelling companies to focus their R&D programs towards developing better and clean technology,” says one of the TechNavio experts, who also adds that the highest demand for SMES devices comes from the Utilities industry.
The report states that the current SMES systems have a low energy storage capability, and are able to deliver stored power for a small interval of time. However, large scale applications such as that of the substation have high energy requirements. Thus, demand from these large scale applications is compelling vendors to develop SMES system with an increased power storage capacity.
Superconducting Magnetic Energy Storage Systems (SMES) are devices that are capable of storing energy in the magnetic field (The magnetic field is 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 SMES systems are capable of releasing stored energy instantaneously, and are useful for short duration energy storage.
Presence of energy storage devices such as capacitors, batteries, flywheel energy storage (FES) systems, the Superconducting Magnetic Energy Storage Systems (SMES) systems, and compressed air energy storage (CAES) are making the Energy Storage Devices Market highly competitive. This increase in competition is forcing vendors of SMES systems to explore new markets such as frequency regulation and energy delivery network.
The highest demand for SMES devices comes from the Utilities industry. This industry is facing a pressure due to increase in load growth and customers demand for improved power quality and reliability. Also, the players of the utility industry are demanding for cost effective, energy efficient and reliable energy storage devices. SMES systems are able to offer such advantages; thus, SMES are becoming significant in utility applications.
The report by TechNavio Insights forecasts the size of the Global Superconducting Magnetic Energy Storage Systems (SMES) Market over the period 2008-2012. Further, it discusses the key market drivers, market trends, challenges of the Global Superconducting Magnetic Energy Storage Systems (SMES) Market, and profiles some of the key vendors of this market.
The author specializes in deep dive custom research for leading Fortune 500 companies. The company conducts more than 200 market intelligence projects every year. TechNavio is the company’s market intelligence platform. TechNavio Insights is a series of 400+ reports based on this market intelligence platform.
1. Market Size and Forecast
Exhibit 1.1: SMES Market Size and Forecast 2008-2012 (in $ million)
2. Market Trends
3. Market Drivers
4. Challenges
5. Vendor Profiles
5.1 Bruker Energy & Supercon Technolozgies Inc.
5.1.1 Business Overview
5.1.2 Products & Services
5.1.3 Corporate Headquarter
5.2 American Superconductor Corporation (AMSC)
5.2.1 Business Overview
5.2.2 Products & Services
5.2.3 Corporate Headquarters
5.3 Southwire Company
5.3.1 Business Overview
5.3.2 Products & Services
5.3.3 Corporate Headquarter
Other Reports in this Series
List of Exhibits
Exhibit 1.1: SMES Market Size and Forecast 2008-2012 (in $ million)
“The market for SMES systems is growing at a slower pace when compared to other technologies and flywheels,” as per this recent report.
This could be attributed to the fact that SMES devices are relatively expensive, with parasitic losses and low energy density. Also, demand for energy storing technology varies with the applications of SMES. For example, pumped storage hydropower is used for large-scale bulk storage, while SMES devices provide short term response energy storage, and are used when rapid power delivery is desired.
According to one of the TechNavio experts, “The Global Electric Energy Storage (EES) system market is expected to reach 3,537 million in 2012, from 2,600 million in 2008.”
The report ‘Global Superconducting Magnetic Energy Storage Systems (SMES) Market 2008-2012’ provides valuable information on the market. Besides, it also segments the market in terms of geography and technology, and discusses the market trends and drivers.
- Bruker Energy & Supercon Technolozgies Inc
- American Superconductor Corporation (AMSC)
- Southwire Company
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