Global Superconducting Magnetic Energy Storage (SMES) Systems Market Growth (Status and Outlook) 2023-2029

Global Superconducting Magnetic Energy Storage (SMES) Systems Market Growth (Status and Outlook) 2023-2029

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. A typical SMES system includes three parts: superconducting coil, power conditioning system and cryogenically cooled refrigerator. Once the superconducting coil is charged, the current will not decay and the magnetic energy can be stored indefinitely

Note: In the report, production Revenue (value)is based on the production statistics of Superconducting Magnetic Energy Storage (SMES) systems manufacturers. And consumption value is based on the downstream customer's consumption statistics of Superconducting Magnetic Energy Storage (SMES) systems.

LPI (LP Information)' newest research report, the “Superconducting Magnetic Energy Storage (SMES) Systems Industry Forecast” looks at past sales and reviews total world Superconducting Magnetic Energy Storage (SMES) Systems sales in 2022, providing a comprehensive analysis by region and market sector of projected Superconducting Magnetic Energy Storage (SMES) Systems sales for 2023 through 2029. With Superconducting Magnetic Energy Storage (SMES) Systems sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world Superconducting Magnetic Energy Storage (SMES) Systems industry.

This Insight Report provides a comprehensive analysis of the global Superconducting Magnetic Energy Storage (SMES) Systems landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyzes the strategies of leading global companies with a focus on Superconducting Magnetic Energy Storage (SMES) Systems portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms’ unique position in an accelerating global Superconducting Magnetic Energy Storage (SMES) Systems market.

This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Superconducting Magnetic Energy Storage (SMES) Systems and breaks down the forecast by type, by application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global Superconducting Magnetic Energy Storage (SMES) Systems.

The global Superconducting Magnetic Energy Storage (SMES) Systems market size is projected to grow from US$ 68 million in 2022 to US$ 124.5 million in 2029; it is expected to grow at a CAGR of 8.9% from 2023 to 2029.

Currently, there are many producing companies in the world Superconducting Magnetic Energy Storage (SMES) Systems industry, especially in North America, Europe and Japan. The main market players are American Superconductor Corporation, Super Power Inc, Bruker Energy & Supercon Technologies, Fujikura, Hyper Tech Research, Southwire Company US and Sumitomo Electric Industries, Ltd, etc, with about 64% market shares.

North America is the largest consumption of Superconducting Magnetic Energy Storage (SMES) Systems, with a sales revenue market share nearly 35%. The second place is Europe, following North America with the sales revenue market share over 25%. Japan is another important consumption market of Superconducting Magnetic Energy Storage (SMES) Systems.

This report presents a comprehensive overview, market shares, and growth opportunities of Superconducting Magnetic Energy Storage (SMES) Systems market by product type, application, key players and key regions and countries.

Market Segmentation:

Segmentation by type

Low Temperature SMES

High Temperature SMES

Segmentation by application

Power System

Industrial Use

Research Institution

Others

This report also splits the market by region:

Americas

United States

Canada

Mexico

Brazil

APAC

China

Japan

Korea

Southeast Asia

India

Australia

Europe

Germany

France

UK

Italy

Russia

Middle East & Africa

Egypt

South Africa

Israel

Turkey

GCC Countries

The below companies that are profiled have been selected based on inputs gathered from primary experts and analyzing the company's coverage, product portfolio, its market penetration.

American Superconductor Corporation

Super Power Inc

Bruker Energy & Supercon Technologies

Fujikura

Hyper Tech Research

Southwire Company US

Sumitomo Electric Industries, Ltd

General Cable Superconductors Ltd.

Nexans SA

ASG Superconductors SpA

Luvata U.K.

SuNam Co., Ltd.

Superconductor Technologies Inc

Please note: The report will take approximately 2 business days to prepare and deliver.