Superconducting Magnetic Energy Storage Market Size and Share Analysis by Type (Low-Temperature SMES, High-Temperature SMES), Application (Power System, Industrial Use, Research)

Description

The superconducting magnetic energy storage market had a total value of USD 57.2 billion in 2023 and it will power at a rate of 8.4% by the end of this decade, reaching USD 100.1billion by 2030. The main reasons for industry growth are the growing requirement for an incessant power supply, mounting efforts for modernization of the grid, and the growing fundings in the utilities sector.

Growth Drivers Drivers

The requirement for an incessant power supply is on the rise all over the world because of the snowballing population and urbanization.

Furthermore, for more than hundred years, electricity has been a basic requirement of economies, industries, and human society. For satisfying the mounting requirement, the role of energy storage is apparent.

Other factors that are responsible for the growth of the industry are the improved performance of these systems as opposed to the primitive technologies, for example rapid response, high efficiency, lengthier life cycle, low maintenance and high-power density.

Industry is Led by Power Systems

The industry is led by power systems, and it will power at a rate of 8.6% by the end of this decade.

The main reason for this is the development of the grid system for meeting the incessantly increasing electricity demand.

SMES systems are employed into significant amenities, for example and data centers and medical centers for offering power anytime, particularly throughout outages and grid emergencies.

The government incentives and policies for promoting the employment of energy storage technologies for improving the stability of the grid, enhance renewable energy use, and fulfill sustainability goals power this category.

Also, with tech progressions, the use of this technology in small- and large-scale power systems will increase in the future.

Growing Acceptance of Low-Temperature SMES Systems

The low-temperature SMES will grow at a rate of 8.5% from 2024 to 2030 due to the higher operational safety of this tech than its high temperature counterpart.

Apart from that, these have a higher energy density, because of which it can store plenty of power. Also, these are highly efficient, allowing the storage and recovery of electricity with small amount of energy loss.

This feature turns out to be significant for applications where energy conservation is important. Furthermore, it has a lengthier lifecycle, helping in decreasing the replacement and upkeep costs over time.

Regional Market is Led by North America

North America is the leader of the SMES market, with a 50% share in 2023, because of the mounting power utility network.

As stated by the U.S Energy Information Administration, the production and consumption of renewable energy reached 13% of the total energy production and consumption in 2022. The increase recently is because of the production of high solar, wind, and hydroelectricity.

APAC is the Fastest-Growing Region

APAC will grow the fastest at a rate of 8.9%, by the end of this decade. This is because of the growing obtainability of resources that are renewable in nature, growing emphasis on smart grids and distributed ESSs, growing demand for energy, prosperous electronics sector, flourishing population, and robust manufacturing competences of China, India, South Korea, and Japan.

China is the leading country in the region. It is undertaking several pilot programs and research initiatives to improve the competence and usefulness of these systems.

Furthermore, the count of cities is rising across APAC region, expanding the development prospects for the industry, as cities make use of more electricity than rural area.

Product Code: 12789

Chapter 1. Research Scope

1.1. Research Objectives
1.2. Market Definition
1.3. Analysis Period
1.4. Market Size Breakdown by Segments
- 1.4.1. Market size breakdown, by type
- 1.4.2. Market size breakdown, by application
- 1.4.3. Market size breakdown, by region
- 1.4.4. Market size breakdown, by country
1.5. Market Data Reporting Unit
- 1.5.1. Value
1.6. Key Stakeholders

Chapter 2. Research Methodology

2.1. Secondary Research
- 2.1.1. Paid
- 2.1.2. Unpaid
- 2.1.3. P&S Intelligence database
2.2. Primary Research
2.3. Market Size Estimation
2.4. Data Triangulation
2.5. Currency Conversion Rates
2.6. Assumptions for the Study
2.7. Notes and Caveats

Chapter 3. Executive Summary

Chapter 4. Market Indicators

Chapter 5. Industry Outlook

5.1. Market Dynamics
- 5.1.1. Trends
- 5.1.2. Drivers
- 5.1.3. Restraints/challenges
- 5.1.4. Impact analysis of drivers/restraints
5.2. Impact of COVID-19
5.3. Porter's Five Forces Analysis
- 5.3.1. Bargaining power of buyers
- 5.3.2. Bargaining power of suppliers
- 5.3.3. Threat of new entrants
- 5.3.4. Intensity of rivalry
- 5.3.5. Threat of substitutes

Chapter 6. Global Market

6.1. Overview
6.2. Market Revenue, by Type (2017-2030)
6.3. Market Revenue, by Application (2017-2030)
6.4. Market Revenue, by Region (2017-2030)

Chapter 7. North America Market

7.1. Overview
7.2. Market Revenue, by Type (2017-2030)
7.3. Market Revenue, by Application (2017-2030)
7.4. Market Revenue, by Country (2017-2030)

Chapter 8. Europe Market

8.1. Overview
8.2. Market Revenue, by Type (2017-2030)
8.3. Market Revenue, by Application (2017-2030)
8.4. Market Revenue, by Country (2017-2030)

Chapter 9. APAC Market

9.1. Overview
9.2. Market Revenue, by Type (2017-2030)
9.3. Market Revenue, by Application (2017-2030)
9.4. Market Revenue, by Country (2017-2030)

Chapter 10. LATAM Market

10.1. Overview
10.2. Market Revenue, by Type (2017-2030)
10.3. Market Revenue, by Application (2017-2030)
10.4. Market Revenue, by Country (2017-2030)

Chapter 11. MEA Market

11.1. Overview
11.2. Market Revenue, by Type (2017-2030)
11.3. Market Revenue, by Application (2017-2030)
11.4. Market Revenue, by Country (2017-2030)

Chapter 12. U.S. Market

12.1. Overview
12.2. Market Revenue, by Type (2017-2030)
12.3. Market Revenue, by Application (2017-2030)

Chapter 13. Canada Market

13.1. Overview
13.2. Market Revenue, by Type (2017-2030)
13.3. Market Revenue, by Application (2017-2030)

Chapter 14. Germany Market

14.1. Overview
14.2. Market Revenue, by Type (2017-2030)
14.3. Market Revenue, by Application (2017-2030)

Chapter 15. France Market

15.1. Overview
15.2. Market Revenue, by Type (2017-2030)
15.3. Market Revenue, by Application (2017-2030)

Chapter 16. U.K. Market

16.1. Overview
16.2. Market Revenue, by Type (2017-2030)
16.3. Market Revenue, by Application (2017-2030)

Chapter 17. Italy Market

17.1. Overview
17.2. Market Revenue, by Type (2017-2030)
17.3. Market Revenue, by Application (2017-2030)

Chapter 18. Spain Market

18.1. Overview
18.2. Market Revenue, by Type (2017-2030)
18.3. Market Revenue, by Application (2017-2030)

Chapter 19. Japan Market

19.1. Overview
19.2. Market Revenue, by Type (2017-2030)
19.3. Market Revenue, by Application (2017-2030)

Chapter 20. China Market

20.1. Overview
20.2. Market Revenue, by Type (2017-2030)
20.3. Market Revenue, by Application (2017-2030)

Chapter 21. India Market

21.1. Overview
21.2. Market Revenue, by Type (2017-2030)
21.3. Market Revenue, by Application (2017-2030)

Chapter 22. Australia Market

22.1. Overview
22.2. Market Revenue, by Type (2017-2030)
22.3. Market Revenue, by Application (2017-2030)

Chapter 23. South Korea Market

23.1. Overview
23.2. Market Revenue, by Type (2017-2030)
23.3. Market Revenue, by Application (2017-2030)

Chapter 24. Brazil Market

24.1. Overview
24.2. Market Revenue, by Type (2017-2030)
24.3. Market Revenue, by Application (2017-2030)

Chapter 25. Mexico Market

25.1. Overview
25.2. Market Revenue, by Type (2017-2030)
25.3. Market Revenue, by Application (2017-2030)

Chapter 26. Saudi Arabia Market

26.1. Overview
26.2. Market Revenue, by Type (2017-2030)
26.3. Market Revenue, by Application (2017-2030)

Chapter 27. South Africa Market

27.1. Overview
27.2. Market Revenue, by Type (2017-2030)
27.3. Market Revenue, by Application (2017-2030)

Chapter 28. U.A.E. Market

28.1. Overview
28.2. Market Revenue, by Type (2017-2030)
28.3. Market Revenue, by Application (2017-2030)

Chapter 29. Competitive Landscape

29.1. List of Market Players and their Offerings
29.2. Competitive Benchmarking of Key Players
29.3. Product Benchmarking of Key Players
29.4. Recent Strategic Developments

Chapter 30. Company Profiles

30.1. American Superconductor Corporation
- 30.1.1. Business overview
- 30.1.2. Product and service offerings
- 30.1.3. Key financial summary
30.2. Fujikura Ltd.
- 30.2.1. Business overview
- 30.2.2. Product and service offerings
- 30.2.3. Key financial summary
30.3. Nexans S.A.
- 30.3.1. Business overview
- 30.3.2. Product and service offerings
- 30.3.3. Key financial summary
30.4. Luvata
- 30.4.1. Business overview
- 30.4.2. Product and service offerings
- 30.4.3. Key financial summary
30.5. ASG Superconductors spa
- 30.5.1. Business overview
- 30.5.2. Product and service offerings
- 30.5.3. Key financial summary
30.6. Bruker Corporation
- 30.6.1. Business overview
- 30.6.2. Product and service offerings
- 30.6.3. Key financial summary
30.7. Sumitomo Electric Industries Ltd.
- 30.7.1. Business overview
- 30.7.2. Product and service offerings
- 30.7.3. Key financial summary

Chapter 31. Appendix

31.1. Abbreviations
31.2. Sources and References
31.3. Related Reports

Superconducting Magnetic Energy Storage Market Size and Share Analysis by Type (Low-Temperature SMES, High-Temperature SMES), Application (Power System, Industrial Use, Research) - Global Industry Demand Forecast to 2030