LONDON--(BUSINESS WIRE)--Technavio has announced the top five leading vendors in their recent global superconducting magnetic energy storage market report until 2021. This research report also lists seven other prominent vendors that are expected to impact the market during the forecast period.
The research study by Technavio on the global superconducting magnetic energy storage market for 2017-2021 provides a detailed industry analysis based on the geography, including APAC, the Americas, and EMEA).
“The global superconducting magnetic energy storage market is projected to grow to nearly USD 67 million by 2021, at a CAGR of more than 6% over the forecast period. The rising need for energy storage as distributed generation is a key factor driving the growth of the market,” says Thanikachalam Chandrasekaran, a lead analyst at Technavio for energy storage research.
Competitive vendor landscape
The global superconducting magnetic storage market is in its infant stage, with plenty of untapped opportunities available to the market vendors. The prospects of the market rely heavily on the advances in technology and the course of business decisions taken by the players in the market. Analysts at Technavio expect the market to grow with the rise in demand for energy-efficient technologies. Therefore, vendors in the market are expected to innovate and enhance their technologies to meet the demand, intensifying the competition in the market.
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Top five vendors in the global superconducting magnetic energy storage market
AMERICAN SUPERCONDUCTOR generates ideas, technologies, and solutions to meet the world's demand for better, cleaner, and smarter energy. The company has two verticals, namely WINDTEC Solutions and GRIDTEC Solutions.
Bruker offers a broad range of applications in all fields of development and research and is used in all industrial production procedures to ensure process reliability and quality. The company is one of the world's leading analytical instrumentation companies.
Southwire produces half of the cable used to distribute and transmit power throughout the US. More than half of the world’s refined copper passes through an SCR system. Its wire plays a key role in the manufacturing of other products such as electrical motors, automotive wiring harnesses, and insect screening.
Sumitomo Electric Industries
Sumitomo Electric Industries has the expertise in copper wire production. The company introduced numerous products to ease the electricity production and distribution. While working on the copper wires, the company achieved a breakthrough in superconducting wires and superconductor wires.
SuperPower, a subsidiary of Furukawa Electric, uses core capabilities in cryogenics and magnetics materials to enable the development of electric power components through the second-generation high temperature superconducting (2G HTS) technology.
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Technavio is leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.
Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, resellers, and end-users.
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