Superconducting Magnetic Energy Storage Market Growing Trade Among Emerging Economies Opening New Business-Opportunities

 

Superconducting Magnetic Energy Storage Market

Superconducting Magnetic Energy Storage: Introduction

·         Superconducting Magnetic Energy Storage (SMES) stores electricity from the grid within the magnetic field of a coil that consists of a superconducting wire with near-zero loss of energy. Superconducting magnetic energy storage includes three parts: cryogenically cooled refrigerator, power conditioning system, and superconducting coil.

·         Superconducting magnetic energy storage possesses high-energy conversion efficiency, high power, and instantaneous response times

·         The capability of superconducting magnetic energy storage system to recharge and discharge at a fast pace without degrading the magnetic is the key factor that is expected to boost the market over the next few years. The advent of new technologies and innovations is also anticipated to propel the market in the next few years.

Get Boucher Copy of the Report: https://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=83708 

Key Drivers and Restraints of Superconducting Magnetic Energy Storage Market

·         Investment in in decentralized renewable energy generation has been increasing across the world in order to meet the continuously rising electricity consumption. Increase in adoption of decentralized intermittent renewable energy generation reinforces the necessity of balancing local production and energy consumption. This is estimated to drive the demand for superconducting magnetic energy storage, as superconducting magnetic energy storage is used to provide grid stability in distribution systems.

·         Advent of smart grids and smart houses; and electrification of the transport sector are also some of the key factors expected to propel the superconducting magnetic energy storage market during the forecast period

·         Ongoing investment in the utility sector is also estimated to propel the demand for superconducting magnetic energy storage in the near future. In utilities, superconducting magnetic energy storage units are used to enhance the stability of transmission loops.

·         Several technical barriers and the requirement of high initial cost are projected to restrict the global superconducting magnetic energy storage market in the next few years. However, rise in demand for electricity across the globe, owing to several factors, including changing climatic conditions, increase in population, and depleting non-renewable energy resources are likely to augment the market in the near future.

COVID-19 Impact Analysis

·         Governments of various countries have imposed restrictions on the movement of individuals and economic activities to limit the spread of the COVID-19 pandemic. As a result, several industries such as oil & gas and construction had to halt their operations. Disruption in the operation of the industrial sector has adversely affected the demand for electricity, as the sector is one of the major consumers of electricity. This is expected to hamper the demand for superconducting magnetic energy storage in the near future.

End-user Segment Outlook

·         The global superconducting magnetic energy storage market can be segmented based on end-user and region

·         Based on end-user, the global superconducting magnetic energy storage market can be segregated into paper industry, motor vehicle assembly, petrochemical refinery, chemical & pharmaceutical, and others

Europe Expected to Constitute Major Share of Global Superconducting Magnetic Energy Storage Market

·         In terms of region, the global superconducting magnetic energy storage market can be divided into Middle East & Africa, Latin America, Asia Pacific, Europe, and North America

·         The superconducting magnetic energy storage market in Asia Pacific is expected to expand at a rapid pace due to the rise in focus on the integration of smart grids, renewable resources, and distributed energy storage systems in the region. Furthermore, increase in awareness among consumers about the advantages of these systems and rise in demand for energy are anticipated to fuel the market in the region in the near future.

·         Europe is also a key region of the global superconducting magnetic energy storage market. The market in the region is projected to expand during the forecast period due the technological advancement in design of energy storage system.

Take Enquiry before buying: https://www.transparencymarketresearch.com/sample/sample.php?flag=EB&rep_id=83708 

Key Players Operating in Global Market

Key companies operating in the global superconducting magnetic energy storage market include:

·         JFE Steel Corporation

·         EAGLE STAINLESS TUBE & FABRICATION, INC.

·         Superconducting Magnetic Energy Storage Sourcing

·         Tube & Steel Supplies Ltd

·         ChelPipe

·         Jindal

·         VALLOUREC

More Trending Reports by TMR: 

https://www.globenewswire.com/news-release/2022/05/03/2434802/0/en/Polyurethane-PU-Dispersions-Aqueous-and-Solvent-Market-to-Record-the-Consumption-of-779-3-Kilo-Tons-by-2031-States-TMR-Study.html

https://www.globenewswire.com/news-release/2022/04/27/2430245/0/en/U-S-Antimicrobial-Plastics-Market-to-Advance-at-CAGR-of-5-5-during-2021-2031-TMR-Study.html

About Us Section:

Transparency Market Research is a global market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants, use proprietary data sources and various tools and techniques to gather, and analyse information.

Now avail flexible Research Subscriptions, and access Research multi-format through downloadable databooks, infographics, charts, interactive playbook for data visualization and full reports through MarketNgage, the unified market intelligence engine. Sign Up for a 7 day free trial!

Contact Us

Rohit Bhisey
Transparency Market Research,
90 State Street, Suite 700,
Albany, NY 12207
Tel: +1-518-618-1030
USA – Canada Toll Free: 866-552-3453
Email: sales@transparencymarketresearch.com
Website: https://www.transparencymarketresearch.com/

 


Comments

Post a Comment

Popular posts from this blog

Generator (Up to 20 kVA) Market Technology, Future Trends, Opportunities, Growth Factors, Demand, and Trends

Image
Global Generator (Up to 20 kVA) Market: Key Highlights ·          The global  generator (up to 20 kVA) market  was valued at  ~US$ 2.2 Bn in 2018,  and is anticipated to expand at a CAGR of  5.5%  during the forecast period. ·          Among the fuel types, the diesel segment accounted for a major share of the global generator (up to 20 kVA) market in  2018.  Diesel generators are the primarily employed generators across the globe. ·          Among the power ratings, the 16 kVA - 20 kVA segment held a significant share of the global generator (up to 20 kVA) market in  2018,  due to the high use of 16 kVA – 20 kVA generators and flexibility in fuel usage, ease of installation, and diverse range of applications offered by these generators in commercial and small industrial sectors across the world. ·   ...
Read more

Re-refined Lubricant Market Recent Trends, Growth Analysis Report, Insights, Outlook, Industry Analysis and Forecasts 2031

Image
  Re-refined Lubricant: Introduction Lubricants are imperative for smooth functioning and operation of mechanical devices and equipment. Several lubricants are used in industrial and automotive applications, namely engine oils, transmission oils, gear oils, transformer oils, and turbine oils. These  lubricants , which are 85% base oils and 15% additives, keep friction between contacting surfaces low and improve their lifespan. These lubricants are often collected and processed at the end of their lifespan. Most of the used lubricants, post collection, are used as fuel; however, some of these are cleaned, processed, and fractionated. The re-refining process initiates with the collection of waste lube oils. Solid contaminants and water are removed from the collected lube oils. The mixture is then made ready for further processing. This mixture is distilled to eliminate low hydrocarbons and solvents. Waste lubricating oil consists of toxic wastes in large amounts. Disposal of tox...
Read more

Non-leather Products Market Growth, Analysis, Opportunities and Top Companies and Business Development Forecast

Image
  With rising awareness about animal cruelty and strict regulatory policies issued by the governmental and regulatory authorities, the non-leather products market is expected to witness a highly promising growth. There are several other materials that are used in place of non-leather products such as artificial leather (also called as synthetic or vegan leather) along with other materials. These non-leather materials are mainly promoted to promote animal safety and eliminating animal cruelty. Get a Sample Copy of the Report:  https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=61836   Non-leather materials are typically used across several application industries such as upholstery, footwear, clothing, and fabric among others. These materials provide leather like finish and higher sustainability. It is cost efficient that the actual leather product and also suitable for other related tasks. In recent years, the production process has evolved ...
Read more