Industrialization Propels Superconducting Magnetic Energy Storage Systems Market

San Francisco, California, August 22, 2017: TMR Research states that the future of the global superconducting magnetic energy storage market is likely to show remarkable progress. The research report, titled “Superconducting Magnetic Energy Storage Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 – 2025,” provides an in-depth analysis of the various market dynamic defining the trajectory of the overall market. The growing demand for energy is expected to be the key growth driver for the superconducting magnetic energy storage solutions. The persistent addition of new and improved products is also expected to play an instrumental role in the rising revenue of the global market.

Rapid pace of industrialization and urbanization have significantly raised the demand for electricity across the world. Adopting new-age energy storage solutions provides stability and flexibility in functioning of the electricity grid. Thus, the rise in the need for storage is expected to have a positive influence on the global superconducting magnetic energy storage (SMES) market. Furthermore, the advantage of SMES is that they ensure minimum energy loss. Analysts predict that the growing concerns about energy consumption and climate change have raised an urgent need for greener solutions, which, in turn, has had a positive impact on the demand for SMES systems.

In terms of geography, the global superconducting magnetic energy storage market is divided into Asia Pacific, Europe, North America, and Rest of the World. Of these, Asia Pacific is expected to be key regional segment. The increasing focus on renewable energy production and demand, investments in smart grids, energy integration, and distributed energy storage are expected to augment the growth of the regional market. The Asia Pacific superconducting magnetic energy storage market is also projected to benefit from the supportive government initiatives, booming electronics industry, and increasing manufacturing capacities as economies emerge. Developing countries such as South Korea, China, and India are expected to the important countries in the development of this regional market during the forecast period.

Some of the leading players operating in the global superconducting magnetic energy storage market are GE Corporation, Columbus Superconductors SpA, Sumitomo Electric Industries, American Superconductor Corporation, SuperPower Inc., and Nexans SA. The research report provides a detailed understanding of the competitive landscape present in the global superconducting magnetic energy storage market. It profiles these players and offers a valuable insight into the research and development activities, technological breakthroughs made by these companies, and their plans for expansions in the coming few years. Additionally, the research report also provides a valuable insights and recommendations by expert market leaders for a comprehensive point of view.

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