The Global Flywheel Energy Storage Market Size Was Valued At USD 297.6 Million In 2021. The Market Is Projected To Grow From USD 316.8 Million In 2022 To USD 551.9 Million By 2030, Exhibiting A CAGR Of 8.3% During The Forecast Period.
Flywheel Energy Storage Market Overview
Global Flywheel Energy Storage Market Size, Status, and Forecast 2023-2030. In-depth research accumulated to offer the latest insights about acute features of the global Flywheel Energy Storage market. This report provides a detailed overview of key factors in the Flywheel Energy Storage Market and factors such as driver, restraint, past and current trends, regulatory scenarios and technology development. The impact of the COVID-19 outbreak on the industry was fully assessed. Fully risk assessment and industry recommendations were made for Flywheel Energy Storage in a special period. This report also compares the markets of Pre COVID-19 and Post COVID-19. In addition, research considers the impact of the COVID-19/Russia-Ukraine War on the regional economy.
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Market Overview:
Because of the unprecedented and overwhelming COVID-19 pandemic, demand for flywheel energy storage is higher than expected in all regions compared to levels before the pandemic. Our research shows that the global market for flywheel energy storage grew by 4.9% from 2019 to 2020.
Flywheel energy storage (FES) uses a rotor that has been sped up to a very high speed. This keeps the energy in the system as rotational energy. When energy is taken away from the system, the flywheel turns less because of energy conservation. When more power is added, the system moves faster. These things use a source of electric energy that is turned into kinetic energy and stored.
Some of the key players profiled in the study are
Active Power (U.S.), Amber Kinetics, Inc (U.S.), Beacon Power, LLC (U.S.), Calnetix Technologies, LLC (U.S.), Piller Group GmbH (Germany), Powerthru (U.S.), VYCON, Inc (U.S.), Stornetic GmbH (Germany), Energiestro (France), Oxto Energy (U.K.), Revterra (U.S.), Adaptive Balancing Power GmbH (Germany), and Others.
Flywheel Energy Storage Market Segmentation:
By Application:
- Uninterrupted Power Supply (UPS)
- Distributed Energy Generation
- Data Centers
- Transport
- Others
Region Included are: North America, Europe, Asia Pacific, Oceania, South America, Middle East & Africa
Country Level Break-Up: United States, Canada, Mexico, Brazil, Argentina, Colombia, Chile, South Africa, Nigeria, Tunisia, Morocco, Germany, United Kingdom (UK), the Netherlands, Spain, Italy, Belgium, Austria, Turkey, Russia, France, Poland, Israel, United Arab Emirates, Qatar, Saudi Arabia, China, Japan, Taiwan, South Korea, Singapore, India, Australia, and New Zealand, etc.
Regional Insights:
Most of the world’s flywheel energy storage market is in Asia and the Pacific. The growing need for power that doesn’t go out is one of the main things that drives market growth. Flywheel energy storage technology is used a lot in China, South Korea, Japan, India, and the Philippines because it works well and lasts a long time. The market for flywheel energy storage is growing because more people need electricity all the time and more money is being put into storage technology.
North America is the best place to store energy because it has the most potential. The United States has most of the installed capacity in the North American region. But Canada is putting in a lot of work to make its flywheel energy storage system work better. Both countries are working on projects to store energy using flywheels, and some of these projects are already planned for the future. The growth of the market is driven by the above factors.
During the time frame of the projection, Europe is expected to grow a lot. Because Europe is switching to renewable energy sources to become carbon-neutral, more people are installing energy storage systems. The flywheel is a popular technology because it can produce a lot of power and is good for the environment. So, the factors listed above help the market grow.
During the time of the prediction, Latin America is likely to grow. The area is going through a big change in its energy. Several countries are quickly switching from traditional energy sources like hydroelectricity and crude oil to a mix of fuels that are better for the environment. It is hard for Latin America as a whole to meet the demand for power. Several countries, like Brazil, Jamaica, Argentina, Chile, and others, are increasing the capacity of their energy storage systems and investing in them.
During the time frame of the projection, the Middle East and Africa are expected to grow. Because more and more people in the area need electricity all the time, there is a sharp rise in the need for and construction of energy storage systems. More data centres are also being built in the GCC. There are 9 data centres in the UAE, while Saudi Arabia has 22. Flywheel energy storage systems are also often used in these data centres because they are efficient and reliable, are easy to maintain, and have more space for storage.
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Table of Content of Flywheel Energy Storage Market:
1: Introduction, market driving force product Objective of Study, and Research Scope of the Global Flywheel Energy Storage market (2023-2030).
2: Exclusive Summary – the basic information of the Global Flywheel Energy Storage Market.
3: Changing Impact on Market Dynamics- Drivers, Trends and Challenges & Opportunities of the Global Flywheel Energy Storage; Post COVID Analysis.
4: Presenting the Global Flywheel Energy Storage Market Factor Analysis, Post COVID Impact Analysis, Porters Five Forces, Supply/Value Chain, PESTEL analysis, Market Entropy, Patent/Trademark Analysis.
5: Displaying the by Type, End User and Region/Country 2017-2022.
6: Evaluating the leading manufacturers of the Global Flywheel Energy Storage Market which consists of its Competitive Landscape, Peer Group Analysis, BCG Matrix & Company Profile.
7: To evaluate the market by segments, by countries and by Manufacturers/Company with revenue share and sales by key countries in these various regions (2023-2030).
… To be continued
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Key Questions Answered in the Flywheel Energy Storage Market Report:
- How much was the global Flywheel Energy Storage market in 2022?
- How much will the global Flywheel Energy Storage market worth in 2030?
- At what compound annual growth rate will the global Flywheel Energy Storage market grow?
- Which segment is estimated to lead the Construction Robot market during the forecast period?
- What is the key market driver for the growth of the global Flywheel Energy Storage market?
A wealth of financial data & business strategy information is provided including:
- Up-to-date company financials, sales & revenue figures.
- Revenue and market forecasts.
- Business model strategies for niche companies.
- A comprehensive explanation of company products, financials & portfolios.
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