Every industry is dependent on power in order to perform all operations. Effective execution of these operations will require a constant supply of power with as minimal down time as possible. In this reference, Superconducting Magnetic Energy Storage (SMES) Markets are able to provide reliable power with specific requirements. The system is able to store electrical energy as a magnetic field in a coil of wire and transform the same back into electrical energy when required. The energy stored as a magnetic field will not experience any loss and can easily be converted. Large amounts of energy can be transformed in this manner. The superconducting magnetic energy storage system is comprised of motionless parts which effectively means that there is no or very minimal wear and tear in the storage device. The life cycle of the device is long and hence can be used for years together. With the superconducting wires present in the device, low energy can be stored which will not affect th...