Worldwide Market for Laser Cutting Machines - Global Industry Analysis and Forecast 2014 – 2020

A SMES system stores energy in the form of a magnetic field in a superconducting coil. The magnetic flow is created by the flow of DC through the coil which produces the stored energy. The stored magnetic energy can be easily converted back to electricity and utilized by power consuming devices. This system primarily comprises of three major parts: the coil, cooling system and the power conditioning system. There is an increasing need of energy storage devices due to focus on large scale integration of new renewable energy technologies with the grid. As the concept of distributed utility is slowly being adopted, the market for SMES systems is also anticipated to grow along with it. For research on SMES, public and private organizations are willing to offer funding support. Various labs and universities are focused on developing new and improved devices based on this technology. As the demand for large scale energy storage applications is rising, vendors are investing in developing improved SMES systems with greater power storage capacities.

Browse Full Report with TOC: http://www.transparencymarketresearch.com/smes-system-market.html

The primary demand for the SMES is driven by their ability to recharge and discharge in a faster period without degrading the magnet. In addition, the escalating global demand for power driven by the growing concerns over climate change, rapidly increasing global population, and depleting non-renewable energy resources is expected to boost the demand for SMES market. The ability of SMES systems to provide carryover energy to meet power needs during critical load conditions is another major factor influencing the demand for energy storage devices. Superconducting magnetic energy storage is an efficient wire architecture which can effectively reduce a significant amount of energy loss.

The main parts installed in SMES are motionless; this makes this device highly reliable. However, the technical challenges associated with the...