The global demand for Flywheel Energy Storage System Market is presumed to reach the valuation of nearly USD XX MN by 2026 from USD XX MN in 2019 with a CAGR of XX% under the study period of 2020 - 2026. Whereas with regards to volume, the market was calculated XX KW in 2019 and foreseen to touch XX KW by 2026 with a CAGR of XX% during 2020-2026.
Flywheel energy storage system is an ingenious energy conversion cum storage device that stores the input electric energy in the form of kinetic energy. This system is straightforward in design but offers superior efficiency and energy density. A flywheel energy storage system is primarily used in power systems for grid balancing, integrating a renewable energy source, and providing power supply to isolated grids and islands. It has a wide range of applications like automotive, railways, power electronics, emergency devices, aerospace, amusement rides, motorsports, and vacuum technology. This storage system is superior to electric batteries. It is extensively used in the hybrid power and telecommunication sectors. It is an extremely reliable system with a long life span and low maintenance cost.
Rapid industrialization and growing demand for uninterrupted power supply are the key driving factors behind the flywheel energy storage system market’s growth. The extensive use of UPS in residential and commercial properties will boost market growth. Increased investments in the development of hybrid power systems to meet the global population’s power demands will be a market booster. The rising need for scalable, innovative power storage mechanisms will stimulate market growth. The constraints hampering the growth of this market are the high manufacturing costs and immature technology.
The report covers Porter’s Five Forces Model, Market Attractiveness Analysis and Value Chain analysis. These tools help to get a clear picture of the industry’s structure and evaluate the competition attractiveness at a global level.
Additionally, these tools also give inclusive assessment of each application/product segment in the global market of flywheel energy storage system.
The entire flywheel energy storage system market has been sub-categorized into application. The report provides an analysis of these subsets with respect to the geographical segmentation. This research study will keep marketer informed and helps to identify the target demographics for a product or service.
- Distributed Energy Generation
- Data Centers
This section covers regional segmentation which accentuates on current and future demand for flywheel energy storage system market across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Further, the report focuses on demand for individual application segment across all the prominent regions.
Global Flywheel Energy Storage System Market Share by Region (Representative Graph)
The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide. The major players in the flywheel energy storage system market include Active Power, Amber Kinetics, Inc., Beacon Power, LLC, Calnetix Technologies, LLC, Piller Group GmbH, Powerthru, VYCON, Inc., Stornetic GmbH, Energiestro, Oxto Energy. This section includes a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.
This market research report has been produced by gathering information on the basis of primary and secondary research. Secondary research has been done by using various sources which include (but not limited to) Company Websites, Paid Data Sources, Technical Journals, Financial Reports, SEC Filings, and other different industry publications.
If specific information is required which is not currently within the scope of the report, it can be provided as a part of customization.