Superconducting Magnetic Energy Storage (SMES) Systems: A Global Strategic Business Report - a new market research report on companiesandmarkets.com
PR-Inside.com: 2014-04-16 06:35:02
Global market for Superconducting Magnetic Energy Storage (SMES) Systems is projected to reach US$57.2 million by 2018, driven by rising demand for advanced energy storage technologies in both on-grid and off-grid applications.
Energy storage systems play a critical role in providing the stability and flexibility required by electric grids to effectively meet surges in peak demand. Rapidly expanding world population, escalating demand for energy, fast depleting non-renewable energy resources, growing concerns over climate change and fears over impending energy crisis, are driving governments worldwide to lay special emphasis on energy efficiency, renewable resources, and on strengthening of electrical infrastructure system. Among the various types of energy storage technologies, Superconducting Magnetic Energy Storage (SMES) and Super Capacitor Energy Storage are recognized as technologies with almost negligible energy losses.
Superconducting magnetic energy storage (SMES) system, a device that stores energy in the magnetic field, can instantly release stored energy and are considered ideal for shorter duration energy storage applications. SMES systems offer advantages in terms of quicker recharging and discharging, and the ability to recharge sequences several times without degradation of magnets.
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