Superconducting Magnetic Energy Storage Market Report 2026

The superconducting magnetic energy storage market size has grown strongly in recent years. It will grow from $59.47 billion in 2025 to $64.36 billion in 2026 at a compound annual growth rate (CAGR) of 8.2%. The growth in the historic period can be attributed to need for rapid response energy storage, early adoption in power grid stabilization, investments in superconducting research, demand for power quality improvement, growth of industrial automation.

The superconducting magnetic energy storage market size is expected to see strong growth in the next few years. It will grow to $85.97 billion in 2030 at a compound annual growth rate (CAGR) of 7.5%. The growth in the forecast period can be attributed to expansion of renewable energy capacity, increasing smart grid deployments, demand for ultra-fast energy storage solutions, advancements in high temperature superconductors, rising investments in grid modernization. Major trends in the forecast period include increasing deployment of smes for grid stability applications, rising adoption of smes in renewable energy integration, growing use of smes for power quality and voltage regulation, advancements in superconducting materials and cryogenic systems, expansion of smes in industrial and research power backup systems.

The anticipated increase in energy consumption is poised to drive the expansion of the superconducting magnetic energy storage market in the foreseeable future. Energy consumption denotes the total amount of energy utilized by individuals, organizations, or nations across various activities such as heating, cooling, lighting, transportation, manufacturing, and others. The demand for superconducting magnetic energy storage (SMES) stems from the necessity for efficient, high-capacity energy storage solutions to tackle grid stability issues, manage fluctuating renewable energy sources, and cater to the escalating demands of electricity supply systems. SMES systems enhance energy consumption efficiency by delivering rapid, high-capacity energy storage and discharge with minimal energy loss. For example, data from the International Energy Outlook 2023 report by the US Energy Information Administration (EIA) in October 2023 indicates a projected increase in global electricity generation ranging from 30% to 76% by 2050 compared to 2022. Consequently, the surge in energy consumption is propelling the growth of the superconducting magnetic energy storage market.

The escalating focus on electrifying the transportation sector is anticipated to drive the expansion of the superconducting magnetic energy storage market. The electrification of the transportation sector entails the shift from conventional internal combustion engine vehicles to electric vehicles. The demand for superconducting magnetic energy storage (SMES) arises from its capability to provide swift, highly efficient energy storage and discharge. The electrification of the transportation sector incorporates the use of SMES to deliver efficient, rapid-response energy storage and distribution, thereby enhancing grid stability and supporting the increasing demand for electricity from electric vehicles by minimizing energy losses and enhancing overall system efficiency. For instance, according to information from GOV.UK in September 2023, the UK government extended the ban on petrol and diesel vehicles by five years, aiming for 80% of new cars and 70% of new vans to be zero emissions by 2030, ultimately reaching 100% by 2035. Hence, the growing emphasis on electrifying transportation is fueling the expansion of the superconducting magnetic energy storage market.

The expanding industrialization is expected to drive the growth of the superconducting magnetic energy storage market in the coming years. Industrialization refers to the transformation of an economy from primarily agricultural to one focused on manufacturing, marked by increased production capacity and technological progress. The surge in industrialization is fueled by rapid economic development in emerging markets, as growing industrial sectors demand higher manufacturing output and infrastructure investment to meet rising consumer needs. This industrial growth directly boosts the demand for reliable energy storage solutions to support manufacturing facilities and industrial operations that require continuous power supply. For example, in July 2025, Eurostat, the Luxembourg-based statistical office of the European Union, reported that industrial production in May 2025 increased by 3.7% in the euro area and by 3.4% across the European Union compared with May 2024. Therefore, the rise in industrialization is driving the expansion of the superconducting magnetic energy storage market.

Major companies operating in the superconducting magnetic energy storage market are Hitachi Ltd., Siemens AG, Mitsubishi Electric Corporation, Sumitomo Electric Industries Ltd., ABB Ltd., Toshiba Corporation, Bruker Energy & Supercon Technologies, Luvata Oy, American Superconductor Corporation, Babcock Noell GmbH, SuperPower Inc., ASG Superconductors SpA, Hyper Tech Research Inc., Superconductor Technologies Inc., SuNam Co. Ltd., Columbus Superconductors SpA, General Cable Superconductors Ltd., Fujikura Ltd., Nexans S.A., Southwire Company.

Note that the outlook for this market is being affected by rapid changes in trade relations and tariffs globally. The report will be updated prior to delivery to reflect the latest status, including revised forecasts and quantified impact analysis. The report’s Recommendations and Conclusions sections will be updated to give strategies for entities dealing with the fast-moving international environment.

Tariffs have impacted the superconducting magnetic energy storage market by increasing the cost of imported superconducting materials, cryogenic systems, and specialized power electronics. These effects are most prominent in power system and industrial applications, particularly in regions dependent on advanced component imports such as Asia-Pacific and Europe. Higher costs have slowed some pilot projects, while encouraging localized manufacturing and research collaborations. In the long term, tariffs are supporting domestic capability building and supply chain resilience for advanced energy storage technologies.

The superconducting magnetic energy storage research report is one of a series of new reports that provides superconducting magnetic energy storage market statistics, including the superconducting magnetic energy storage industry's global market size, regional shares, competitors with a superconducting magnetic energy storage market share, detailed superconducting magnetic energy storage market segments, market trends and opportunities, and any further data you may need to thrive in the superconducting magnetic energy storage industry. This superconducting magnetic energy storage market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

Superconducting Magnetic Energy Storage (SMES) is a technology that stores energy within the magnetic field generated by the flow of direct current (DC) through a superconducting coil. Operating at extremely low temperatures, the coil exhibits zero electrical resistance, ensuring highly efficient energy storage and rapid discharge capabilities. SMES systems are renowned for their swift response times and find applications in scenarios requiring brief bursts of power, such as stabilizing power grids and supporting renewable energy sources.

The primary types of superconducting magnetic energy storage include Low-Temperature Superconducting Magnetic Energy Storage (LTS SMES) and High-Temperature Superconducting Magnetic Energy Storage. LTS SMES involves the utilization of superconductors cooled to cryogenic temperatures to store energy in magnetic fields with minimal energy loss. Components of LTS SMES systems typically include superconducting coils, cryogenic cooling systems, power conditioning systems, and others, catering to applications in power systems, industrial settings, research institutes, and beyond.North America was the largest region in the superconducting magnetic energy storage market in 2025. Asia-Pacific is expected to be the fastest growing region in the market. The regions covered in the superconducting magnetic energy storage market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the superconducting magnetic energy storage market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The superconducting magnetic energy storage market consists of sales of control and monitoring systems, auxiliary power supplies, energy management software, and safety and containment systems. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

This product will be delivered within 1-3 business days.