San Jose, California (PRWEB) August 22, 2013
Follow us on LinkedIn – In the coming months, GIA will complete an extensive secondary and primary research program involving some of the industry’s leading players and experts. The study will examine key drivers and trends impacting the market such as growing demand for sophisticated energy storage systems in both off-grid and on-grid applications; pressing need for environment friendly and green storage solutions; widespread adoption of distributed energy solutions; and the growing trend of grid integration with renewable energy sources and the resulting need for electrical energy storage solutions to improve voltage stability.
Defined as a loss-less energy storage system that stores energy within a magnetic field, Superconducting Magnetic Energy Storage (SMES) systems are expected to witness strong demand in the coming years. SMES systems are forecast to grow in popularity as the concept of distributed utility gradually becomes a reality worldwide. Key advantages of SMES poised to drive its adoption include the technology’s low negative impact on the environment, cost advantages, ability to provide carryover energy to meet power needs during critical load conditions, ability to discharge and recharge rapidly, and environment friendly foot print, among others. SMES systems market has been registering significant increase in R&D investments, as companies turn attention onto energy arbitrage and minimization of adverse environmental impact through development of cleaner technologies. While public and private organizations are offering funding support for research on SMES, research labs and universities are focused on the development of new devices based on this technology.
SMES systems can be recharged several times without any degrading impact on the magnet. Presently, most of the SMES systems are capable of storing lower amounts of energy, which can be delivered for a shorter period of time. With demand rising from large-scale energy storage applications such as substations, vendors are developing SMES systems with greater power storage capacity. Developments in technology that help improve energy density are therefore expected to help the market score the highest gains.
The study estimates Superconducting Magnetic Energy Storage Systems to be a multi-million dollar market worldwide, while more precise market-size and growth projections will be made available during the 2nd stage of report preparation, and data analysis.
The research and analyses will be released shortly in the form of a comprehensive research report. The report, by design, will attempt to provide exhaustive analysis, data, trends, market share, market size, statistics, forecasts and competitive intelligence. The report is modeled to offer precise and unbiased, actionable market insights including in-depth segmentation of market sub-sectors, demand estimates and projections and analysis of trends in each of the sectors, identification of leading players, and the competitive structure, among others.
The report outlines the emerging importance of SMES in revolutionizing energy management in the 21st century, the growing government supported focus on developing prototypes capable of being used at the grid level, and the challenges and opportunities presented therein. Developed for SMES manufacturers, technology domain experts, consulting firms and C-level decision makers, among others, the report helps identify the biggest opportunities in this space and offers accurate latent demand forecasting that empowers quantitative decision making among existing market players and new entrants.
For more details about how you can participate, please click here.
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a leading publisher of off-the-shelf market research. Founded in 1987, the company currently employs over 800 people worldwide. Annually, GIA publishes more than 1300 full-scale research reports and analyzes 40,000+ market and technology trends while monitoring more than 126,000 Companies worldwide. Serving over 9500 clients in 27 countries, GIA is recognized today, as one of the world's largest and reputed market research firms.
Global Industry Analysts, Inc.
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